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Harena Resources #HREE – RAB Capital Major Shareholding
Harena Resources Plc (LSE: HREE), the rare earths exploration and development company focused on the 75% owned Ampasindava Project in Madagascar (the “Project”) has been advised that existing shareholder RAB Capital, who previously owned 6,900,000 shares in the Company, has today purchased a further 15,994,387 Harena Resources shares, at a price of 1.5p pence per share, representing an enlarged holding of 5.53% of the current issued share capital. The purchase was from a number of shareholders that received shares in lieu convertible loans at the time of the reverse takeover in March 2025. As disclosed in the Prospectus, these shareholders were subject to an orderly market arrangement and the Company has now successfully completed a block trade to enable those shareholders to comply with their orderly market agreement and for RAB Capital to purchase the shares.
Joe Belladonna, Managing Director, commented:
“I would like to thank specialist mining investor RAB Capital, who now become one of our largest shareholders, for its continued support. At this time of geopolitical tension and critical minerals controls, we are already starting to witness a rise in pricing of a number of rare earth elements. Ampasindava is already one of the largest ionic clay Rare Earth projects globally and its situation in the neutral jurisdiction of Madagascar should further heighten the appeal of the project to future potential partners. We look forward to providing further updates to the market as we progress the Project.”
Philip Richards, Founder and Director of RAB Capital, commented:
“This is an exciting rare earth project in a safe jurisdiction and with considerable past expenditures on the resources. The coastal location should prove optimal for seaborne logistics and international markets.”
Contact
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Harena Resources |
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Joe Belladonna/Allan Mulligan |
+44 (0)1624 681 250 |
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Tavira Financial Jonathan Evans/Oliver Stansfield |
+44 (0)20 7330 1833 |
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Flowcomms (Investor Relations) Sasha Sethi |
+44 (0) 7891 677 441 sasha@flowcomms.com |
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Notes to Editors
Harena Resources is a rare earths exploration and development company focused on the Ampasindava Ionic Clay Rare Earth Project in Madagascar (Harena’s interest is 75%). The project hosts one of the largest ionic clay rare earth deposits outside of China, with significant concentrations of high-value magnet metals. Harena is committed to low-impact, high-recovery mining, providing a sustainable supply of critical minerals for the global energy transition and military defence industries.
Forward-Looking Statements This announcement contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those expressed or implied in such statements.
ECR Minerals #ECR – Result of AGM
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, announces that at the Company’s annual general meeting (“AGM”) held at 11:00 a.m. today all resolutions proposed were passed.
Full details of the poll results are set out below:
| Resolution | Total Votes in Favour | Percentage of Votes in Favour | Total Votes Against | Percentage of Votes Against | Total Discretion | Total Withheld |
| 01 | 165,963,576 | 98.79 | 2,022,584 | 1.20 | 7,262 | 7,158 |
| 02 | 163,506,211 | 97.33 | 4,479,949 | 2.67 | 7,262 | 7,158 |
| 03 | 163,499,368 | 97.32 | 4,486,792 | 2.67 | 7,262 | 7,158 |
| 04 | 160,299,627 | 95.43 | 7,676,533 | 4.57 | 7,262 | 17,158 |
| 05 | 165,513,590 | 98.73 | 2,117,003 | 1.26 | 7,262 | 362,725 |
| 06 | 163,452,776 | 97.34 | 4,462,449 | 2.66 | 7,262 | 78,093 |
| 07 | 163,250,322 | 97.18 | 4,735,833 | 2.82 | 7,262 | 7,163 |
| 08 | 164,332,448 | 97.82 | 3,653,607 | 2.17 | 7,362 | 7,163 |
| 09 | 165,524,378 | 98.53 | 2,461,682 | 1.47 | 7,362 | 7,158 |
The number of ordinary shares of 0.001 pence each in the Company (“Ordinary Shares”) in issue at 6:30 p.m. (UK) on 22 April 2025 was 2,242,655,302. The Company does not hold any Ordinary Shares in treasury.
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals Plc | Tel: +44 (0) 1738 317 693 | ||
| Nick Tulloch, Chairman
Andrew Scott, Director |
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| Email: | |||
| Website: www.ecrminerals.com | |||
| Allenby Capital Limited | Tel: +44 (0) 3328 5656 | ||
| Nominated Adviser
Nick Naylor / Alex Brearley / Vivek Bhardwaj |
info@allenbycapital.com
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| Axis Capital Markets Limited | Tel: +44 (0) 203 026 0320 | ||
| Broker | |||
| Lewis Jones | |||
| SI Capital Ltd | Tel: +44 (0) 1483 413500 | ||
| Broker | |||
| Nick Emerson | |||
| Brand Communications | Tel: +44 (0) 7976 431608 | ||
| Public & Investor Relations | |||
| Alan Green | |||
ABOUT ECR MINERALS PLC
ECR Minerals is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”) has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia, has six licence applications outstanding which includes one licence application lodged in eastern Victoria (Tambo gold project).
ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Lolworth Range, Queensland, Australia. The Company has also submitted a license application at Kondaparinga which is approximately 120km2 in area and located within the Hodgkinson Gold Province, 80km 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), MGA has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.
MGA also has approximately A$75 million of unutilised tax losses incurred during previous operations.
ECR is also in exclusive negotiations to acquire Maximus Minerals Ltd for £500,000 along with exercising that company’s option over the Cat Key advanced gold project for C$600,000. The consideration, if the transaction completes, will be settled in new ECR shares, issued at no less than 0.33 pence per share.
ECR Minerals #ECR – AGM Statement
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, announces that at the Company’s annual general meeting (“AGM”) to be held at 11:00 a.m. today, Nick Tulloch, the Company’s chairman will make the following statement:
“Good morning, ladies and gentlemen. It is my pleasure to welcome you to the 2025 annual general meeting of ECR Minerals plc. I am delighted to begin by highlighting our strengthened financial position, secured through a successful £950,000 fundraising announced in November 2024 and further reinforced by the sale of the Company’s surplus land at Brewing Lane in Victoria, Australia for A$225,000. These additional funds ensures that ECR is fully equipped to execute our ambitious 2025 work programmes.
I wish to extend my sincere appreciation to the board of directors of ECR (the “Board” or the “Directors”) for their continued commitment to receiving a significant portion of their remuneration in ECR ordinary shares of 0.001 pence each (“Ordinary Shares”), a policy which is now over halfway through its second year and which has been instrumental in preserving the Company’s cash resources.
The market for junior exploration companies remains undeniably tough with limited access to capital creating significant challenges for many of our peers. Yet ECR stands out, well-positioned to advance our projects without the immediate need for additional fundraising, a testament to our continued prudent financial management and strategic focus.
Turning to our operations, we are advancing our projects at a time when gold and antimony prices are hitting record highs. This very favourable market backdrop enhances the potential of our portfolio.
At our Bailieston Gold and Antimony project in Central Victoria, Australia (the “Bailieston Project”) a diamond core drill rig is anticipated to arrive this week, with drilling expected to commence imminently. Historical soil sampling has identified four in-situ antimony anomalies at the Bailieston Project. In addition, recent rock chip sampling suggested antimony at the surface, with 34 samples returning antimony grades between 0.25% and 1.91% supporting our best result of a 32% antimony grade over 0.3 metres (hole 19) from previous drilling. With strong antimony and gold prices driving renewed exploration in Victoria’s Costerfield Bailieston-Nagambie corridor, these results, alongside substantial antimony resources that have been reported nearby, have generated significant interest in our Bailieston Project.
Additionally, our tax losses held within our wholly-owned subsidiary, Mercator Gold Australia Pty Ltd (“MGA”), continues to attract increased attention, with new parties signing non-disclosure agreements (“NDAs”) to access our data room. We have also been approached by a third party interested in a potential collaboration for the development of our Creswick project. While discussions remain early-stage, we will update shareholders should discussions progress further.
In Queensland, our Blue Mountain Project (the “Blue Mountain Project”) offers the potential for a significant near-term revenue opportunity, with production targeted to start later this year. Earlier testing by Gekko Systems Pty Limited (“Gekko”) on ore samples collected at the Blue Mountain Project demonstrated a recovery rate of 91.7% gold into 0.40% of the mass, suggesting the ore’s suitability for gravity concentration using a batch centrifugal concentrator. A further bulk sampling campaign will aim to validate our operating and financial model before potentially moving into production. We are projecting monthly revenues of approximately A$470,000 (US$295,000) from the Blue Mountain Project, based on a 0.6 g/BCM grade, a 25 tonnes per hour wash plant, and a gold price of US$2,790 per ounce. Dual wash plants could further boost output and of course with gold prices more than 15% up on the levels used in our feasibility assessment, the returns are well underpinned. The estimated costs for the work programme and wash plant are included in our 2025 budget.
At our Lolworth Gold and Rare Earths project, we are focusing on five promising gold prospects with our first drilling campaign planned there for mid-2025.
ECR has numerous opportunities to deliver significant value for our shareholders in 2025 and beyond. I extend my sincere thanks to our shareholders for their support through challenging market conditions. As we advance our projects, we remain committed to rigorous cost control. I look forward to sharing further progress with you soon.”
Review of Announcement by Qualified Person
This announcement has been reviewed by Adam Jones, Chief Geologist at ECR Minerals Plc. Adam Jones is a professional geologist and is a Member of the Australian Institute of Geoscientists (MAIG). He is a qualified person as that term is defined by the AIM Note for Mining, Oil and Gas Companies.
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals Plc | Tel: +44 (0) 1738 317 693 | ||
| Nick Tulloch, Chairman
Andrew Scott, Director |
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| Email: | |||
| Website: www.ecrminerals.com | |||
| Allenby Capital Limited | Tel: +44 (0) 3328 5656 | ||
| Nominated Adviser
Nick Naylor / Alex Brearley / Vivek Bhardwaj |
info@allenbycapital.com
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| Axis Capital Markets Limited | Tel: +44 (0) 203 026 0320 | ||
| Broker | |||
| Lewis Jones | |||
| SI Capital Ltd | Tel: +44 (0) 1483 413500 | ||
| Broker | |||
| Nick Emerson | |||
| Brand Communications | Tel: +44 (0) 7976 431608 | ||
| Public & Investor Relations | |||
| Alan Green | |||
ABOUT ECR MINERALS PLC
ECR Minerals is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”) has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia, has six licence applications outstanding which includes one licence application lodged in eastern Victoria (Tambo gold project).
ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Lolworth Range, Queensland, Australia. The Company has also submitted a license application at Kondaparinga which is approximately 120km2 in area and located within the Hodgkinson Gold Province, 80km 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), MGA has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.
MGA also has approximately A$75 million of unutilised tax losses incurred during previous operations.
ECR is also in exclusive negotiations to acquire Maximus Minerals Ltd for £500,000 along with exercising that company’s option over the Cat Key advanced gold project for C$600,000. The consideration, if the transaction completes, will be settled in new ECR shares, issued at no less than 0.33 pence per share.
Glossary
| g/BCM: | Grammes per bank cubic metres (Metric) |
| km: | Kilometres (Metric) |
| km²: | Kilometre squared (Metric) |
Stockbox podcast with Alan Green, Mark Fairbairn and Dan Flynn covers #CPAI, #FEN, #ORCP & #HREE
On this week’s Stockbox podcast with Alan Green, Mark Fairbairn and Dan Flynn, we discuss:
Cap AI #CPAI
Frenkel Topping #FEN
Oracle Power #ORCP
Harena Resources #HREE
URU Metals #URU – Results of shareholder analysis
URU announces that, following the completion of an independent third-party shareholder register analysis of depositary interest holdings, the Company is aware of the following significant shareholders, being those with an interest in 3% or more of the depositary interests representing the ordinary issued share capital of the Company (“Ordinary Shares”). This follows the Company’s recent 25:1 share spilt and placing of £300k as announced 17 March 2025 and 28 March 2025 respectively.
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Shareholder |
Holding of Ordinary Shares |
% of interest in Ordinary Shares in issue based on current issued share capital |
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Mr John Zorbas (CEO) |
12,605,800 |
30.62 |
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Axis Capital Markets |
8,916,875 |
21.66 |
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Interactive Investor |
2,871,946 |
6.98 |
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Niketo Co |
2,613,625 |
6.35 |
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Hargreaves Lansdown Asset Mgt |
2,116,818 |
5.14 |
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Mr J John |
1,475,000 |
3.58 |
Other than as previously announced by RNS, URU has no further information pursuant to Rule 17 Schedule Five of the AIM Rules for Companies in respect of any dealings by the above mentioned shareholders in the Ordinary Share capital of the Company.
For further information, please contact:
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URU Metals Limited John Zorbas (Chief Executive Officer)
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+1 416 504 3978
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SP Angel Corporate Finance LLP (Nominated Adviser and Broker) Ewan Leggat / Jen Clarke |
+ 44 (0) 203 470 0470 |
Sovereign Metals #SVML – DFS Geotechnical Programs In Progress
Sovereign Metals Limited (ASX:SVM; AIM:SVML; OTCQX: SVMLF) (Sovereign or the Company) is pleased to announce that several geotechnical drilling programs are now underway at its Kasiya Rutile Graphite Project (Kasiya or the Project) in Malawi. The results of the programs will be used to support the infrastructure layout and engineering design for the Project’s Definitive Feasibility Study (DFS) due in Q4 2025.
Highlights:
- Extensive geotechnical investigations underway at key project infrastructure locations across Sovereign’s Kasiya Project, and expected to be completed in the coming weeks
- Results will support layout and engineering design for the Kasiya DFS which is due in Q4 2025. These programs are being conducted with oversight from the Sovereign-Rio Tinto Technical Committee
- Planned infrastructure covered by the programs includes mining, process plants, tailings storage facility, water storage dam as well as power and logistics routes
- Results of 2024 infill drilling program and an updated mineral resource estimate expected to be reported during Q2 2025
Infrastructure covered by the geotechnical programs includes the processing plant areas, the tailings storage facility (TSF) area, the raw water storage dam, the Kasiya substation, and other mining infrastructure. Various geotechnical and geophysics methods are being used across the project site area.
Managing Director and CEO Frank Eagar commented: “Following the completion of our Optimised Prefeasibility Study in January, DRA and a number of tier one consultants have been appointed to advance the DFS in combination with our highly experienced owner’s team. Comprehensive data is being gathered from these field programs and will determine optimal locations for our key Project infrastructure. We remain on track to complete a DFS in Q4 2025.”
Geotechnical Programs Summary
Sovereign is currently conducting various geotechnical programs with oversight from the Sovereign-Rio Tinto Technical Committee. The programs are expected to be completed in the coming weeks.
Geotechnical investigations are essential for understanding the physical properties of ground for proposed infrastructure.
Selected locations are based on the findings of the Optimised Prefeasibility Study (OPFS) announced in January 2025. The OPFS proposes a large-scale, long-life operation to deliver substantial volumes of natural rutile and graphite while generating significant returns. The Project layout was determined by evaluating technical, environmental and social factors.
The primary design objectives influencing the site location and arrangement were minimising environmental and social impact and keeping facilities as central and convenient to the mine pits as possible.
Figure 1: Geotechnical diamond drilling at the Northern Plant Area
The current geotechnical programs will, therefore, cover the following.
· North and South mining infrastructure areas
· North and South processing plant areas
· TSF and raw water storage dam areas
· Transport infrastructure: railway spur and main access road
· Permanent and Contractors camp
· Kasiya substation yard and backup power area
Figure 2: Geotechnical diamond drilling program underway
Geotechnical analysis methods being undertaken at Kasiya to understand subsurface conditions and to assist in the engineering and design of earthworks include diamond core drilling, spiral augur drilling, pitting using excavators, trenching, cone penetration tests (CPTu) and Multi-channel Analysis of Surface Waves (MASW). Ground geophysics are being completed using various techniques including active seismic techniques at the TSF site and a resistivity survey at the power substation site.
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Enquiries |
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Frank Eagar, Managing Director & CEO South Africa / Malawi +27 21 140 3190
Sapan Ghai, CCO London +44 207 478 3900 |
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Nominated Adviser on AIM and Joint Broker |
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SP Angel Corporate Finance LLP |
+44 20 3470 0470 |
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Ewan Leggat Charlie Bouverat |
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Joint Broker |
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Stifel |
+44 20 7710 7600 |
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Varun Talwar |
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Ashton Clanfield |
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Buchanan |
+ 44 20 7466 5000 |
Blencowe Resources #BRES – Fundraise of £1m to Support Completion of DFS & Retail Offer to raise up to £100,000
Blencowe Resources Plc (LSE: BRES), is pleased to announce that it has successfully raised gross proceeds of £1m through the issue of 33,333,334 new ordinary shares at a placing price of 3 pence per share (the “Placing”). The Placing was undertaken by Tavira Financial Limited, the Company’s broker.
Use of Proceeds
The net proceeds of the Placing will primarily be used to complete the 6,750m drilling programme and advance the final stages of the Definitive Feasibility Study (“DFS”) for the Orom-Cross graphite project as well as to provide general working capital to support operations during this pivotal period leading up to DFS completion.
The Company remains in active discussions with strategic funding partners, including the US International Development Finance Corporation (“DFC”) and African Finance Corporation (“AFC”). These discussions form part of a broader project financing strategy for the Orom-Cross development.
Investor Warrants
As part of the Placing, Investors will be issued one warrant for each placing share (“Investor Warrants”) exercisable at 4.5p and will be valid for two years from the date of Admission. These Investor Warrants, if exercised in full, would result in the Company raising an additional £1.5m.
Related Party Participation
RAB Capital participated in the Placing. RAB Capital holds more than 5% of the Company’s issued share capital, therefore, their participation in the Placing is deemed a related party transaction as defined under DTR 7.3. The Board considers RAB Capital’s participation in the Placing fair and reasonable.
Senior Management and Consultant Participation
The Company’s Chief Operating Officer, Iain Wearing, has subscribed for £50,000 in the Placing demonstrating his continued confidence in the project and Company.
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Name |
Current Holding |
Placing Shares |
Holding following Placing |
% Holding following the Placing* |
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Iain Wearing |
6,658,333 |
1,666,666 |
8,324,999 |
2.6% |
*Enlarged share capital of 325,409,954 following the Placing
Cameron Pearce, Executive Chairman commented:
“We are pleased to secure this funding to maintain momentum as we complete the 6,750m drilling programme and finalise the DFS, both critical for unlocking project-level financing.
Our recent high-margin purified graphite offtake deals with international buyers mark a major commercial milestone, and discussions with multiple parties to broaden our offtake pipeline further remain active.
In parallel, we are progressing several strategic funding discussions with tier-one partners including the DFC and AFC. The DFS will provide the platform to finalise these discussions and move forward to develop Orom-Cross as a globally significant graphite project.
We look forward to updating shareholders on further developments, including drilling results, resource upgrades, DFS result and downstream processing plans, in the weeks and months ahead.”
BookBuild Retail Offer
The Company will launch a separate Retail Offer via the BookBuild platform to raise up to £100,000 as detailed below.
Admission of Placing Shares
An application has been made for 33,333,334 new ordinary shares relating to the Placing to be admitted to trading on the Equity Shares (Transition) category of the Official List and to the main market of the London Stock Exchange from 8.00 a.m. on 24 April 2025 (“Admission”).
Total Voting Rights
In accordance with the FCA’s Disclosure Guidance and Transparency Rules, the Company confirms that following Admission, the Company’s enlarged issued ordinary share capital will comprise 325,409,954 Ordinary Shares. The Company does not hold any Ordinary Shares in Treasury. Therefore, following Admission, the above figure may be used by shareholders in the Company as the denominator for the calculations to 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.
Retail Offer
The Board of Blencowe Resources PLC is also pleased to announce a retail offer via BookBuild (the “Retail Offer”) of new ordinary shares (“Ordinary Shares”) of ORD 0.5P each in the capital of the Company (the “Retail Offer Shares”) at an issue price of GBX 3 per New Ordinary Share (as defined below) (the “Issue Price”), raising up to GBP100,000.
In addition to the Retail Offer, the Company is also conducting a placing of new ordinary shares (the “Placing Shares” and together with the Retail Offer Shares, the “New Ordinary Shares”) at the Issue Price (the “Placing” and together with the Retail Offer, the “Issue”). A separate announcement has been made regarding the Placing and its terms. For the avoidance of doubt, the Retail Offer is not part of the Placing.
The Retail Offer is conditional on the New Ordinary Shares to be issued pursuant to the Retail Offer being listed on the Equity Shares (Transition) segment of the Official List of the Financial Conduct Authority and admitted to trading on the Main Market of the London Stock Exchange (“Admission”). Admission of the New Ordinary Shares pursuant to the Retail Offer is expected to take place at 24/04/2025. Completion of the Retail Offer is conditional, inter alia, upon the completion of the Placing.
The net proceeds from the Issue are expected to be used as outlined in the previous Placing announcement.
Expected Timetable in relation to the Retail Offer
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Retail Offer opens |
15/04/2025, 16:40 |
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Latest time and date for commitments under the Retail Offer |
16/04/2025, 07:40 |
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Results of the Retail Offer announced |
16/04/2025. 08:00 |
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Admission and dealings in New Ordinary Shares issued |
24/04/2025 |
Any changes to the expected timetable set out above will be notified by the Company through a Regulatory Information Service. References to times are to London times unless otherwise stated.
Dealing Codes
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Ticker |
BRES |
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ISIN for the Ordinary Shares |
GB00BFCMVS34 |
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SEDOL for the Ordinary Shares |
BFCMVS3 |
Retail Offer (Background)
The Company values its retail shareholder base and given the support of retail shareholders, the Company believes that it is appropriate to provide its retail shareholders in the United Kingdom the opportunity to participate in the Retail Offer. The Company is therefore making the Retail Offer available in the United Kingdom through the financial intermediaries which will be listed, subject to certain access restrictions, on the following website: https://www.bookbuild.live/deals/JQK4J7/authorised-intermediaries
Tavira Financial Limited will be acting as retail offer coordinator in relation to this Retail Offer (the “Retail Offer Coordinator”).
Existing retail shareholders can contact their broker or wealth manager (“Intermediary”) to participate in the Retail Offer. In order to participate in the Retail Offer, each intermediary must be on-boarded onto the BookBuild platform and agree to the final terms and the retail offer terms and conditions, which regulate, inter alia, the conduct of the Retail Offer on market standard terms and provide for the payment of commission to any intermediary that elects to receive a commission and/or fee (to the extent permitted by the FCA Handbook Rules) from the Retail Offer Coordinator (on behalf of the Company).
Any expenses incurred by any intermediary are for its own account. Investors should confirm separately with any intermediary whether there are any commissions, fees or expenses that will be applied by such intermediary in connection with any application made through that intermediary pursuant to the Retail Offer.
The Retail Offer will be open to eligible investors in the United Kingdom at 4:40pm on 15/04/2025. The Retail Offer is expected to close at 7:40am on 16/04/2025. Investors should note that financial intermediaries may have earlier closing times. The Retail Offer may close early if it is oversubscribed.
If any intermediary has any questions about how to participate in the Retail Offer on behalf of existing retail shareholders, please contact BookBuild at email: support@bookbuild.live.
The Retail Offer the subject of this announcement is and will, at all times, only be made to, directed at and may only be acted upon by those persons who are, shareholders in the Company. To be eligible to participate in the Retail Offer, applicants must meet the following criteria before they can submit an order for Retail Offer Shares1: (i) be a customer of one of the participating intermediaries listed on the above website; (ii) be resident in the United Kingdom and (iii) be a shareholder in the Company (which may include individuals aged 18 years or over, companies and other bodies corporate, partnerships, trusts, associations and other unincorporated organisations and includes persons who hold their shares in the Company directly or indirectly through a participating intermediary). For the avoidance of doubt, persons who only hold CFDs, Spreadbets and/or similar derivative instruments in relation to shares in the Company are not eligible to participate in the Retail Offer.
The Company reserves the right to scale back any order at its discretion. The Company reserves the right to reject any application for subscription under the Retail Offer without giving any reason for such rejection.
It is vital to note that once an application for Retail Offer Shares has been made and accepted via an intermediary, it cannot be withdrawn.
The New Ordinary Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with existing Ordinary Shares including the right to receive all dividends and other distributions declared, made or paid after their date of issue.
The Retail Offer is an offer to subscribe for transferable securities, the terms of which ensure that the Company is exempt from the requirement to issue a prospectus under Regulation (EU) 2017/1129 as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018. It is a term of the Retail Offer that the aggregate total consideration payable for the Retail Offer Shares will not exceed £99,999.993 (or the equivalent in Euros). The exemption from the requirement to publish a prospectus, set out in section 86(1)(e) of the Financial Services and Markets Act 2000 (as amended), will apply to the Retail Offer.
The Retail Offer is not being made into any jurisdiction other than the United Kingdom or to US Persons (as defined in Regulation S of the US Securities Act 1933, as amended).
No offering document, prospectus or admission document has been or will be prepared or submitted to be approved by the Financial Conduct Authority (or any other authority) in relation to the Retail Offer, and investors’ commitments will be made solely on the basis of the information contained in this announcement and information that has been published by or on behalf of the Company prior to the date of this announcement by notification to a Regulatory Information Service in accordance with the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules and the Market Abuse Regulation (EU Regulation No. 596/2014) (“MAR”) as it forms part of United Kingdom law by virtue of the European Union (Withdrawal) Act 2018 (as amended).
There is a minimum subscription of £100.00 per investor under the terms of the Retail Offer which is open to investors in the United Kingdom subscribing via the intermediaries which will be listed, subject to certain access restrictions, on the following website: https://www.bookbuild.live/deals/JQK4J7/authorised-intermediaries
There is no maximum application amount to apply in the Retail Offer. The terms and conditions on which investors subscribe will be provided by the relevant financial intermediaries including relevant commission or fee charges.
Investors should make their own investigations into the merits of an investment in the Company. Nothing in this announcement amounts to a recommendation to invest in the Company or amounts to investment, taxation or legal advice.
It should be noted that a subscription for Retail Offer Shares and investment in the Company carries a number of risks. Investors should take independent advice from a person experienced in advising on investment in securities such as the Retail Offer Shares if they are in any doubt.
For further information, please contact:
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Blencowe Resources Plc Sam Quinn |
www.blencoweresourcesplc.com Tel: +44 (0)1624 681 250
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Investor Relations Sasha Sethi |
Tel: +44 (0) 7891 677 441
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Tavira Financial Jonathan Evans |
Tel: +44 (0)20 3192 1733
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Twitter https://twitter.com/BlencoweRes
ECR Minerals #ECR – Antimony drilling set to commence at the Bailieston Project and update on recent field work
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, provides the following update on its ongoing geological investigations targeting principally antimony at the HR3 prospect within the Bailieston Project area in Central Victoria, Australia (the “Bailieston Project”).
HIGHLIGHTS
● Proposed antimony focused diamond drilling programme to commence this month at the Bailieston Project
● Historical soil sampling has identified four in-situ antimony anomalies at the Bailieston Project
● 72 follow-up rock chip samples were recently collected from around these anomalies; 34 samples returned antimony grades between 0.25% and 1.91%
● 42 rock chips also returned gold grades above 1 g/t Au, with channel sampling highlights including 0.3m @ 41.3 g/t Au
Bailieston gold and antimony project
Strong antimony and gold prices have sparked renewed exploration in Victoria’s Costerfield Bailieston-Nagambie corridor. On 3 July 2024, ECR’s Bailieston Project sampling uncovered high-grade antimony, with hole BH3DD019 hitting 32% Sb over 0.3m and BH3DD027 yielding 1.2% Sb over 0.1m. ECR is now finalising plans for a follow-up diamond drilling programme to investigate these targets further.
Recent field work (See Table 1)
ECR’s geology team has recently reviewed historical portable x-ray fluorescence (“PXRF”) data from soil sampling campaigns conducted at the Bailieston Project between 2020 and 2022. Statistical analysis defined eight sub-populations of increasing antimony values. These were then spatially correlated with known mineralised vein systems, revealing four key antimony anomalies along the Hardup, Hardup South, Scanlons and Scoulars veins.
To verify the soil sampling results 72 rock chip samples were collected from oxidised, veined and sheared material within historical trenches and pits. Seven of these were in-situ channel samples taken across exposed mineralised structures.
Summary of key rock chip sample results include:
● 0.3m @ 41.3 g/t Au, 0.89% Sb
● 0.5m @ 36.1 g/t Au, 0.48% Sb
● 0.31m @ 10.6 g/t Au, 1.13% Sb
● 0.8m @ 6.51 g/t Au, 0.19% Sb
These samples were all taken from the Hardup Reef, part of a north-northeast trending vein system that has seen limited modern exploration. Given the current commodity price environment, these high-grade zones represent compelling drill targets.
Drill targets (See Figure 1)
ECR has completed internal and external structural interpretations of prior diamond drilling campaigns (2021-2022), focusing on the standout antimony intercept in hole BH3DD019. The results suggest that the main Maori-Bailieston anticline has undergone eastward rollover at a key inflection point, creating a zone of structural dilation-or ‘bulge’ -that may host significant antimony and gold mineralisation.
Four diamond drillholes are now budgeted to test this target zone, with planned depths ranging between 100m to 180m. Previous drilling in this area yielded composite intercepts including:
● 1m @ 4.96 g/t Au (hole BH3DD019)
● 1m @ 16.16 g/t Au (hole BH3DD034)
The diamond core drill rig is expected to mobilise to site within the next two weeks.
Mike Whitlow, ECR’s Managing Director, said: “We’re seeing a compelling convergence of data pointing to a potential structurally controlled zone of antimony and gold mineralisation at the Bailieston Project. With rock chip and soil anomalies aligning with high-grade historical intercepts, our upcoming drill programme is designed to test this ‘bulge’ zone directly. This is the kind of focused, high-impact exploration that we believe can potentially unlock real value for shareholders-especially in a market where both gold and antimony prices are on the rise.”
Figure 1: Plan of HR3, Bailieston Project
Table 1: Best results (Au/Sb) from rock chips taken at HR3, Bailieston Project in April 2025.
*Locations in GDA94 Zone 55
Antimony results (=> 0.25 % Sb)
|
SAMPLE |
EAST |
NORTH |
Sb % |
VEIN/REEF |
|
BH3R113 |
326475.4 |
5931404.0 |
1.91 |
SCOULARS |
|
BH3R100 |
326517.6 |
5931334.7 |
1.14 |
SCOULARS |
|
BH3R089 |
326671.7 |
5931239.5 |
1.13 |
HARD UP SOUTH |
|
BH3R102 |
326517.8 |
5931343.6 |
1.11 |
SCOULARS |
|
BH3R064 |
326703.8 |
5931382.7 |
0.89 |
HARD UP |
|
BH3R106 |
326520.8 |
5931327.0 |
0.87 |
SCOULARS |
|
BH3R101 |
326522.1 |
5931342.0 |
0.84 |
SCOULARS |
|
BH3R111 |
326480.4 |
5931404.6 |
0.83 |
SCOULARS |
|
BH3R080 |
326765.2 |
5931082.3 |
0.82 |
SCANLONS |
|
BH3R098 |
326522.2 |
5931334.2 |
0.75 |
SCOULARS |
|
BH3R099 |
326521.3 |
5931332.7 |
0.75 |
SCOULARS |
|
BH3R105 |
326507.4 |
5931326.1 |
0.71 |
SCOULARS |
|
BH3R108 |
326512.8 |
5931312.5 |
0.68 |
SCOULARS |
|
BH3R110 |
326474.5 |
5931412.3 |
0.66 |
SCOULARS |
|
BH3R091 |
326667.3 |
5931225.4 |
0.61 |
HARD UP SOUTH |
|
BH3R090 |
326671.1 |
5931229.1 |
0.55 |
HARD UP SOUTH |
|
BH3R065 |
326703.8 |
5931384.9 |
0.48 |
HARD UP |
|
BH3R077 |
326675.5 |
5930912.2 |
0.46 |
UNKNOWN STH |
|
BH3R079 |
326752.8 |
5931063.1 |
0.45 |
SCANLONS |
|
BH3R114 |
326471.4 |
5931403.6 |
0.41 |
SCOULARS |
|
BH3R069 |
326702.0 |
5931377.3 |
0.39 |
HARD UP |
|
BH3R088 |
326767.2 |
5931092.0 |
0.39 |
SCANLONS |
|
BH3R107 |
326515.8 |
5931313.3 |
0.39 |
SCOULARS |
|
BH3R109 |
326470.2 |
5931413.6 |
0.39 |
SCOULARS |
|
BH3R066 |
326703.1 |
5931383.7 |
0.38 |
HARD UP |
|
BH3R083 |
326765.3 |
5931087.1 |
0.37 |
SCANLONS |
|
BH3R097 |
326527.2 |
5931331.5 |
0.35 |
SCOULARS |
|
BH3R115 |
326470.0 |
5931404.5 |
0.35 |
SCOULARS |
|
BH3R103 |
326514.5 |
5931331.1 |
0.34 |
SCOULARS |
|
BH3R112 |
326469.3 |
5931424.2 |
0.34 |
SCOULARS |
|
BH3R068 |
326702.4 |
5931376.9 |
0.32 |
HARD UP |
|
BH3R084 |
326771.3 |
5931087.2 |
0.31 |
SCANLONS |
|
BH3R059 |
326704.8 |
5931390.4 |
0.25 |
HARD UP |
|
BH3R063 |
326704.1 |
5931382.6 |
0.25 |
HARD UP |
Gold results (> 1 g/t Au)
|
SAMPLE |
EAST |
NORTH |
AU g/t |
VEIN/REEF |
|
BH3R106 |
326520.8 |
5931327.0 |
43.70 |
SCOULARS |
|
BH3R064 |
326703.8 |
5931382.7 |
41.30 |
HARD UP |
|
BH3R121 |
326625.7 |
5931591.5 |
40.20 |
UNKNOWN NTH |
|
BH3R065 |
326703.8 |
5931384.9 |
36.10 |
HARD UP |
|
BH3R113 |
326475.4 |
5931404.0 |
25.40 |
SCOULARS |
|
BH3R070 |
326699.1 |
5931371.6 |
20.70 |
HARD UP |
|
BH3R099 |
326521.3 |
5931332.7 |
15.80 |
SCOULARS |
|
BH3R103 |
326514.5 |
5931331.1 |
14.80 |
SCOULARS |
|
BH3R105 |
326507.4 |
5931326.1 |
14.80 |
SCOULARS |
|
BH3R097 |
326527.2 |
5931331.5 |
12.60 |
SCOULARS |
|
BH3R068 |
326702.4 |
5931376.9 |
10.70 |
HARD UP |
|
BH3R089 |
326671.7 |
5931239.5 |
10.60 |
HARD UP SOUTH |
|
BH3R100 |
326517.6 |
5931334.7 |
10.30 |
SCOULARS |
|
BH3R091 |
326667.3 |
5931225.4 |
9.81 |
HARD UP SOUTH |
|
BH3R090 |
326671.1 |
5931229.1 |
9.39 |
HARD UP SOUTH |
|
BH3R102 |
326517.8 |
5931343.6 |
9.03 |
SCOULARS |
|
BH3R079 |
326752.8 |
5931063.1 |
8.35 |
SCANLONS |
|
BH3R098 |
326522.2 |
5931334.2 |
6.74 |
SCOULARS |
|
BH3R092 |
326664.5 |
5931219.8 |
6.61 |
HARD UP SOUTH |
|
BH3R107 |
326515.8 |
5931313.3 |
6.59 |
SCOULARS |
|
BH3R060 |
326702.8 |
5931387.6 |
6.51 |
HARD UP |
|
BH3R111 |
326480.4 |
5931404.6 |
5.79 |
SCOULARS |
|
BH3R101 |
326522.1 |
5931342.0 |
5.71 |
SCOULARS |
|
BH3R077 |
326675.5 |
5930912.2 |
5.05 |
UNKNOWN STH |
|
BH3R080 |
326765.2 |
5931082.3 |
4.78 |
SCANLONS |
|
BH3R110 |
326474.5 |
5931412.3 |
4.63 |
SCOULARS |
|
BH3R104 |
326509.2 |
5931323.4 |
4.24 |
SCOULARS |
|
BH3R108 |
326512.8 |
5931312.5 |
4.08 |
SCOULARS |
|
BH3R084 |
326771.3 |
5931087.2 |
4.00 |
SCANLONS |
|
BH3R067 |
326703.8 |
5931380.2 |
3.82 |
HARD UP |
|
BH3R088 |
326767.2 |
5931092.0 |
3.56 |
SCANLONS |
|
BH3R083 |
326765.3 |
5931087.1 |
3.32 |
SCANLONS |
|
BH3R114 |
326471.4 |
5931403.6 |
3.08 |
SCOULARS |
|
BH3R109 |
326470.2 |
5931413.6 |
2.82 |
SCOULARS |
|
BH3R115 |
326470.0 |
5931404.5 |
2.71 |
SCOULARS |
|
BH3R076 |
326672.8 |
5930907.7 |
1.99 |
UNKNOWN STH |
|
BH3R120 |
326637.6 |
5931560.4 |
1.97 |
UNKNOWN NTH |
|
BH3R082 |
326766.2 |
5931086.4 |
1.94 |
SCANLONS |
|
BH3R061 |
326703.3 |
5931386.8 |
1.61 |
HARD UP |
|
BH3R095 |
326702.7 |
5931242.8 |
1.59 |
HARD UP SOUTH |
|
BH3R069 |
326702.0 |
5931377.3 |
1.53 |
HARD UP |
|
BH3R112 |
326469.3 |
5931424.2 |
1.26 |
SCOULARS |
|
BH3R066 |
326703.1 |
5931383.7 |
1.18 |
HARD UP |
|
BH3R078 |
326754.2 |
5931064.3 |
1.07 |
SCANLONS |
|
BH3R096 |
326704.2 |
5931245.8 |
1.06 |
HARD UP SOUTH |
Review of announcement by a Qualified Person
This announcement has been reviewed by Adam Jones, Chief Geologist at ECR Minerals Plc. Adam Jones is a professional geologist and is a Member of the Australian Institute of Geoscientists (MAIG). He is a qualified person as that term is defined by the AIM Note for Mining, Oil and Gas Companies.
FOR FURTHER INFORMATION, PLEASE CONTACT:
|
ECR Minerals Plc |
Tel: +44 (0) 1738 317 693 |
||
|
Nick Tulloch, Chairman Andrew Scott, Director |
|||
|
Email: info@ecrminerals.com |
|||
|
Website: www.ecrminerals.com |
|||
|
Allenby Capital Limited |
|
Tel: +44 (0) 3328 5656 |
|
|
Nominated Adviser Nick Naylor / Alex Brearley / Vivek Bhardwaj |
|
||
|
Axis Capital Markets Limited |
Tel: +44 (0) 203 026 0320 |
||
|
Broker |
|||
|
Lewis Jones |
|||
|
|
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|
SI Capital Ltd |
Tel: +44 (0) 1483 413500 |
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Broker |
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|
Nick Emerson
|
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|
Brand Communications |
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. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”) has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia, has six licence applications outstanding which includes one licence application lodged in eastern Victoria (Tambo gold project).
ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Lolworth Range, Queensland, Australia. The Company has also submitted a license application at Kondaparinga which is approximately 120km2 in area and located within the Hodgkinson Gold Province, 80km 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), MGA has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.
MGA also has approximately A$75 million of unutilised tax losses incurred during previous operations.
ECR is also in exclusive negotiations to acquire Maximus Minerals Ltd for £500,000 along with exercising that company’s option over the Cat Key advanced gold project for C$600,000. The consideration, if the transaction completes, will be settled in new ECR shares, issued at no less than 0.33 pence per share.
Stockbox podcast with Alan Green, Mark Fairbairn and Dan Flynn covers #FOX, #COBR, #AYM & #BILN
On this week’s Stockbox podcast with Alan Green, Mark Fairbairn and Dan Flynn, we discuss:
Focus Xplore (Katoro) #FOX
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