Additional £0.25m from institutional investor
Summary by AI BETAClose X
The information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulation.
11 August 2026
ECR MINERALS PLC
("ECR Minerals", "ECR" or the "Company")
Institutional investor increases participation with additional £0.25 million investment
ECR Minerals plc (LON: ECR), the gold exploration and development company focused on Australia, announces that further to its announcement on 10 August 2026 regarding ECR's placing to raise £636,250 (the "Fundraising"), the Company has received further interest from an institutional investor to participate in the Fundraising on the same terms.
As such, the Company is pleased to announce that it has conditionally raised a further £250,000, through the issue of an additional 142,857,142 new ordinary shares of 0.001 pence each (the "Additional Placing Shares"). The Additional Placing Shares will, when issued and fully paid, rank pari passu in all respects with the existing ordinary shares of 0.001 pence each in issue ("Ordinary Shares") and therefore will rank equally for all dividends or other distributions declared, made or paid after the issue of the Additional Placing Shares.
The net proceeds raised from the issue of the Additional Placing Shares will be used for the same purposes as the net proceeds raised from the Fundraising as set out in the Company's announcement of 10 August 2026.
Accordingly, a total of 506,428,572 new Ordinary Shares will now be issued pursuant to the Fundraising, raising total gross proceeds of £886,250.00.
Investor warrants and broker warrants
An additional 142,857,142 warrants have been issued to the subscriber, exercisable on the same terms as the warrants issued pursuant to the Fundraising. In aggregate 506,428,572 warrants have been issued pursuant to the Fundraising.
In connection with the Additional Placing Shares, the Company has also issued 2,857,142 Broker Warrants (as defined in the announcement on 10 August 2026). In aggregate 10,128,570 Broker Warrants have been issued pursuant to the Fundraising.
Admission and Total Voting Rights
An application has been made to London Stock Exchange plc ("London Stock Exchange") for the 506,428,572 new Ordinary Shares to be admitted to trading on AIM, a market operated by the London Stock Exchange ("Admission") and it is currently anticipated that Admission will become effective, and that dealings in the new Ordinary Shares will commence on AIM, at 8.00 a.m. on or around 14 August 2026. Completion of the Fundraising is conditional on Admission.
Upon Admission, the Company's issued ordinary share capital will consist of 4,107,918,966 Ordinary Shares with one voting right each. The Company does not hold any Ordinary Shares in treasury. Therefore, from Admission the total number of Ordinary Shares and voting rights in the Company will be 4,107,918,966. With effect from Admission, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
Nick Tulloch, ECR's Chairman, commented: "We are delighted to have received this additional support from an institutional investor, increasing the size of the Fundraising to £886,250. We believe this further investment reflects growing confidence in both the progress that we are making at the Maddens Gold Project and our strategy of building a diversified Australian gold company centred on near-term production.
"Our strengthened balance sheet allows us to further accelerate underground development at Maddens, advance trial mining at Brothers and continue exploring what we believe is a highly prospective and underexplored goldfield. With production expected to commence later this year and a strong pipeline of operational milestones ahead, we are entering a particularly exciting period for ECR and we look forward to keeping shareholders updated as we continue to deliver on our strategy."
FOR FURTHER INFORMATION, PLEASE CONTACT:
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ECR Minerals plc |
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Tel: +44 (0) 20 8080 8176 |
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Nick Tulloch, Chairman Andrew Scott, Director |
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Website: www.ecrminerals.com |
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Allenby Capital Limited |
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Tel: +44 (0) 20 3328 5656 |
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Nominated Adviser and Joint Broker Alex Brearley / Vivek Bhardwaj / Nick Naylor (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking)
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OAK Securities Joint Broker Jerry Keen / Robert Bell
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Tel: +44 (0) 20 3973 3678 |
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Axis Capital Markets Limited |
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Tel: +44 (0) 20 3026 0320 |
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Joint Broker |
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Lewis Jones |
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SI Capital Ltd |
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Tel: +44 (0) 1483 413500 |
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Joint Broker |
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Nick Emerson / Keith Swann
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Brand Communications |
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Tel: +44 (0) 7976 431608 |
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Public & Investor Relations |
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Alan Green |
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ABOUT ECR MINERALS PLC
ECR Minerals is a mineral exploration and development company operating through four wholly owned Australian subsidiaries ECR Minerals (Australia) Pty Ltd ("ECR Australia"), ECR Minerals (Queensland) Pty Ltd ("ECR Queensland"), ECR Minerals (Raglan) Pty Ltd ("ECR Raglan") and ECR Minerals (Paleogold) Ltd ("ECR Paleogold").
ECR Paleogold has a 50% interest in the Maddens Gold Project in Northern Queensland, which includes the Maddens Underground Mine where work is underway for production this year. It also has a 20% interest in the Salt Bush shallow open cut mining project in South Australia where preparations are underway for production which is expected to commence around mid-2027. ECR Paleogold also owns 80% of the Tuckanarra exploration project in Western Australia.
ECR Australia owns the Bailieston and Creswick gold projects in central Victoria, Australia as well as the Tambo gold project in eastern Victoria.
ECR Raglan has a mining lease at the Raglan alluvial gold project in central Queensland, Australia and ECR Queensland has two approved exploration permits over the nearby Blue Mountain alluvial gold project. ECR is currently working to bring the Blue Mountain alluvial gold project into production. ECR Queensland also has three approved exploration permits covering 946 km2 over a relatively unexplored area in Lolworth Range in northern Queensland. Furthermore, it has also submitted a licence application at Kondaparinga which is approximately 120 km2 in area and located within the Hodgkinson Gold Province, 80 km NW of Mareeba, North Queensland.
Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), ECR Australia has the right to receive up to A$2 million in payments subject to future resource estimation or production from these projects.
ECR Australia also has approximately A$77 million of unutilised tax losses incurred during previous operations.
This announcement is made in accordance with the Company's obligations under Article 17 of UK MAR and the person responsible for arranging for the release of this announcement on behalf of ECR is Nick Tulloch, Chairman.
IMPORTANT NOTICES
Forward Looking Statements
This announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "anticipates", "targets", "aims", "continues", "expects", "intends", "hopes", "may", "will", "would", "could" or "should" or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include matters that are not facts. They appear in a number of places throughout this announcement and include statements regarding the Directors' beliefs or current expectations. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. Investors should not place undue reliance on forward-looking statements, which speak only as of the date of this announcement.
Notice to overseas persons
This announcement does not constitute, or form part of, a prospectus relating to the Company, nor does it constitute or contain any invitation or offer to any person, or any public offer, to subscribe for, purchase or otherwise acquire any shares in the Company or advise persons to do so in any jurisdiction, nor shall it, or any part of it form the basis of or be relied on in connection with any contract or as an inducement to enter into any contract or commitment with the Company.
This announcement is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into Australia, Canada, Japan or the Republic of South Africa or any jurisdiction into which the publication or distribution would be unlawful. This announcement is for information purposes only and does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire shares in the capital of the Company in Australia, Canada, Japan, New Zealand, the Republic of South Africa or any jurisdiction in which such offer or solicitation would be unlawful or require preparation of any prospectus or other offer documentation or would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. Persons into whose possession this announcement comes are required by the Company to inform themselves about, and to observe, such restrictions.
This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.
General
Neither the content of the Company's website (or any other website) nor the content of any website accessible from hyperlinks on the Company's website (or any other website) or any previous announcement made by the Company is incorporated into, or forms part of, this announcement.
Allenby Capital, which is authorised and regulated by the FCA in the United Kingdom, is acting as nominated adviser to the Company in connection with the Fundraising. Allenby Capital will not be responsible to any person other than the Company for providing the protections afforded to clients of Allenby Capital or for providing advice to any other person in connection with the Fundraising. Allenby Capital has not authorised the contents of, or any part of, this announcement, and no liability whatsoever is accepted by Allenby Capital for the accuracy of any information or opinions contained in this announcement or for the omission of any material information.
SI Capital, which is authorised and regulated by the FCA in the United Kingdom, is acting as joint broker to the Company in connection with the Fundraising. SI Capital will not be responsible to any person other than the Company for providing the protections afforded to clients of SI Capital or for providing advice to any other person in connection with the Fundraising. SI Capital has not authorised the contents of, or any part of, this announcement, and no liability whatsoever is accepted by SI Capital for the accuracy of any information or opinions contained in this announcement or for the omission of any material information.
OAK Securities (a trading name of Merlin Partners LLP), which is authorised and regulated by the FCA in the United Kingdom, is acting as joint broker to the Company in connection with the Fundraising. OAK Securities will not be responsible to any person other than the Company for providing the protections afforded to clients of OAK Securities or for providing advice to any other person in connection with the Fundraising. OAK Securities has not authorised the contents of, or any part of, this announcement, and no liability whatsoever is accepted by OAK Securities for the accuracy of any information or opinions contained in this announcement or for the omission of any material information.
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