ECR Minerals opts not to proceed with distribution to shareholders

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ECR Minerals has said it has, after considering the possibility, decided not to proceed with a distribution to its shareholders of part of its holding in THEMAC shares and warrants.

Shares fell 7.41% to 0.25p by the afternoon.

Meanwhile, sharesholders of the company on Monday approved the sale of Gold Crest to Steve Iliev as part of its strategy of refocusing the efforts and resources of the company on natural resource projects in which it can exercise control or significant influence, and of realising value from its investments.

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The firm also said that it is still actively seeking a joint venture partner or purchaser for its 100% owned Sierra de las Minas gold project in La Rioja Province, Argentina.

NR