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.
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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.
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