(Alliance News) - ECR Minerals PLC on Monday said it has raised GBP500,000 through a share issue to support ongoing activities at gold exploration projects in Victoria, Australia.
The precious metal explorer placed 100 million new shares at 0.5 pence each. Shares on Monday closed at 0.53p each, up 12%, giving the company a GBP2.4 million market capitalisation.
CEO Craig Brown said: "The company is now in a strong position to implement our strategy, which centres on our exciting portfolio of gold projects in Victoria, Australia. Discussions with third parties regarding certain of these projects are continuing, and we hope to be in a position to update the market shortly."
By Tapan Panchal; tapanpanchal@alliancenews.com
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ECR Minerals (ECR)