Mining tiddler ECR Minerals secures cash for further exploration

18th Feb 2013 15:36

Minerals exploration group ECR Minerals has secured a financing package with YA Global Master, enabling the company to continue evaluating new projects. The company's repayment obligations on a £1.0m loan have been reprofiled, delaying the repayment date to August 2013 at more favourable conditions for the company. A modified advance of ECR's equity has raised £150,000, while a further £25,000 was raised from share issuance. ECR's existing mineral development holdings include a gold project in La Rioja province in Argentina, and a stake in a New Mexico copper project. It also has exposure to gold mining and exploration in Papua, Indonesia. JF