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ECR Minerals PLC - Australia-focused mineral exploration and development company - Raises GBP580,000 via conditional fundraise, issuing 331.4 million new shares at 0.175 pence each. The subscription has been agreed "with high net work individuals and institutional investors," company says. Expects admission of new shares to occur around October 10, subject to approval at a general meeting with a date yet to be announced. Managing Director Nick Tulloch says: "The board anticipates that, if approved, the funds raised will primarily be allocated to fast track ECR's Queensland projects, plus there are a number of new opportunities on the table that the board may decide to progress once the appropriate due diligence has been undertaken. Along with my board colleagues, I look forward to reporting further progress very shortly."
Current stock price: 0.25 pence, closed up 9.1% on Monday in London
12-month change: down 66%
By Tom Budszus, Alliance News reporter
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