ECR Minerals sources equity financing to advance Australia gold prospects
Source - SMW
ECR Minerals said had sourced new equity financing that would help provide it with sufficient working capital until the second half of next year.
The company said it had raised £650k through a share issue at 0.7p each.
Allowing for existing cash at bank pre-financing and the funds raised from the share issue, ECR said it had sufficient working capital against current operational plans until at least the third quarter of 2019.
Funds raised would be used to expand ECR's Australian operations, including an accelerated development programme at the Blue Moon gold target in Victoria state.
At 2:07pm: (LON:ECR) ECR Minerals PLC share price was +0.13p at 0.8p