BROADCASTS.com

\nECR Minerals plc (AIM: ECR), a company specializing in gold exploration and development in Australia, announced its successful fundraising of \xa3585,000, pending Admission.
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\nThis was achieved through the issuance of 195,000,000 new ordinary shares, known as \u201cPlacing Shares,\u201d at a rate of 0.30 pence per share (the \u201cPlacing Price\u201d) in a process referred to as the \u201cPlacing.\u201d
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\nThe Placing Price is set at roughly a 30% discount compared to the closing middle market price of 0.43 pence per Ordinary Share as of 13 March 2024, which was the last business day before this announcement was made.
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\nThe funds raised from the Placing will be strategically utilized to further develop ECR\u2019s projects in Victoria and Queensland throughout 2024.
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\nHere are the key points from the Interview:
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1. \nCapital Raise Overview: ECR Minerals raised \xa3585,000 through a placement at a discount to the recent trading price but at a premium compared to the last raise six months ago.
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2. \nUse of Proceeds: The funds will be used to advance ECR\u2019s projects in Victoria and Queensland, with specific plans to get back out in the field in Queensland at Lolworth and to conduct trenching and drilling activities.
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3. \nProject Details and Goals: ECR aims to explore and develop its large land package in Victoria and Queensland, focusing on gold and antimony. The company has a goal of building a \xa320-30 million market cap business.
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4. \nOperational Strategy: The company plans to utilize accumulated tax losses, potentially monetize non-core assets, and engage in strategic drilling campaigns to unlock value and increase the company\u2019s valuation.
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5. \nMarket Position and Outlook: ECR Minerals is operating in a favorable market for gold, with gold prices currently strong. The company is also exploring opportunities in antimony, a critical metal with increasing demand.
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6. \nShareholder and Investor Relations: The company acknowledges short-term frustrations among shareholders but emphasizes its commitment to creating long-term value. Directors are being remunerated in shares, ensuring alignment with shareholder interests.
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7. \nFuture Prospects: ECR Minerals is confident in its ability to derisk its projects and create significant value, urging potential investors to consider the opportunity given the company\u2019s strategic position and plans.
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