ECR Minerals plc Directorate change
May 03 2016 - 2:00AM
UK Regulatory
TIDMECR
ECR Minerals plc
("ECR" or the "Company")
AIM: ECR
US OTC: MTGDY
DIRECTORATE CHANGE -
APPOINTMENT OF EXPERIENCED FINANCE DIRECTOR
LONDON: 3 MAY 2016 - ECR Minerals plc is pleased to announce the
appointment of Craig William Brown (aged 45) as Finance Director of
the Company with immediate effect.
Craig Brown is a Chartered Accountant with over 21 years'
experience in senior management and finance roles within the
exploration and mining industry. He qualified as a Chartered
Accountant in New Zealand in 1993 and is a member of Chartered
Accountants Australia and New Zealand.
Craig was a founding shareholder of Kryso Resources plc
("Kryso"), a gold exploration and development company which was
admitted to trading on AIM in 2004. Kryso was restructured and
renamed China Nonferrous Gold Ltd ("CNG") in 2013. Craig acted as
Finance Director and Company Secretary of Kryso before becoming
Managing Director in 2010 and stepping down from the board in
September 2013. During this period, Kryso/CNG delineated a 5
million ounce JORC Mineral Resource at the Pakrut gold project in
Tajikistan, completed a bankable feasibility study for the project,
obtained debt and equity finance for mine development, and
commenced construction of the mine and infrastructure.
Since 2013, Craig has continued to act as a consultant to CNG,
during which time CNG has successfully obtained additional debt
finance in order to commence production, completing the first gold
pour at the Pakrut mine in 2015. Prior to his roles with Kryso/CNG,
Craig held positions with Gulf International Minerals Ltd and
Nelson Gold Ltd, both of which also successfully put gold mines
into production during Craig's tenure. Craig holds New Zealand
nationality and is currently based in the United Kingdom.
Stephen Clayson, Chief Executive Officer of ECR, commented:
"I am delighted that Craig Brown has agreed to join ECR as
Finance Director. Craig and I worked closely together in relation
to Kryso/CNG from December 2008 to early 2013. During this period,
the price of Kryso/CNG shares rose from approximately 3p in January
2009 to more than 30p in January 2013. CNG's first gold pour at the
Pakrut gold mine in Tajikistan was in December 2015.
Craig as a founder of Kryso/CNG as well as its Finance Director
and later Managing Director must take much of the credit for its
success, and I feel confident in saying he will be a great asset to
ECR as we grow and develop the business."
Additional Information Required by AIM Rule 17
Pursuant to Rule 17, Schedule Two (g) of the AIM Rules, the
following information is disclosed in respect of Craig Brown:
Current Appointments Appointments in Last 5 years
Westrock Resources Ltd International Mining Supplies & Services Ltd
Kryso Resources Ltd
Kryso Resources plc
Kryso Resources Corporation Ltd
There is no other information regarding Mr Brown required to be
disclosed under the AIM Rules.
ABOUT ECR
ECR is a mineral exploration and development company with the
right to earn a 50% interest in the Danglay epithermal gold project
in the Philippines. Danglay is an advanced exploration project
located in a prolific gold and copper mining district in the north
of the Philippines. An NI43-101 technical report was completed in
respect of the Danglay project in December 2015, and is available
for download from ECR's website.
ECR's wholly owned subsidiary Ochre Mining has a 100% interest
in the SLM gold project in La Rioja Province, Argentina.
Exploration at SLM has focused on identifying small tonnage
mesothermal gold deposits which may be suitable for relatively near
term production.
ECR's wholly owned Australian subsidiary Mercator Gold Australia
(MGA) has agreed to acquire 100% ownership of the Avoca and
Bailieston gold projects in Victoria, Australia. Mercator Gold
Australia is estimated to have tax losses of approximately AUD 66M
as at 30 June 2015, which may be available, subject to certain
conditions (as described in ECR's announcement dated 4 December
2014), to reduce MGA's future taxable profits. This is considered
particularly significant in view of an opportunity which may exist
at Avoca to establish relatively near term gold production from the
reprocessing of historical mine dumps, with the potential for sale
of gravel and sand by-products. A competent person's report in
relation to the Avoca and Bailieston projects is available for
download from ECR's website.
For further information, please contact:
ECR Minerals plc Tel: +44 (0)20 7929 1010
William (Bill) Howell, Non-Executive Chairman
Stephen Clayson, Director & CEO
Richard (Dick) Watts, Technical Director
Email: info@ecrminerals.com
Website: www.ecrminerals.com
Cairn Financial Advisers LLP Tel: +44 (0)20 7148 7900
Nominated Adviser
Emma Earl / Jo Turner
Vicarage Capital Ltd Tel: +44 (0)20 3651 2910
Broker
Rupert Williams / Jeremy Woodgate
Blytheweigh Tel: +44 (0)20 7138 3204
Public Relations
Tim Blythe / Camilla Horsfall
View source version on businesswire.com:
http://www.businesswire.com/news/home/20160502006427/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
May 03, 2016 02:00 ET (06:00 GMT)
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