Business
Interim Results
Interim Results.
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n Mercator Gold PLC\n31 March 2008\n\n\n\n\n\n MERCATOR GOLD PLC\n ('Mercator Gold' or the 'Company')\n\n Interim Results (unaudited) for the Six Months to 31 December 2007\n\n \nHighlights\n\n • Commercial gold production commenced in October 2007;\n\n • Gold sold during period 7,028 ounces, yielding revenue of A$6.4m at an\n average price realised per ounce of A$912 (US$806);\n\n • Vigorous exploration programme continues to produce promising results;\n\n • ASX listing expected to take place in next 12 weeks;\n\n • Technical due diligence completed on sale of non-core assets for shares\n (approximately 30%) in Silver Swan Group Ltd (ASX: SSW).\n\n\n'These results cover a landmark period in Mercator's development that has seen\nthe Company commence commercial gold production and continue to lay the\ngroundwork for considerable growth in its output over the coming years. The\nCompany is in excellent shape, focusing on production, growth and exploration in\nMeekatharra according to plan.\n\nI look forward to reporting progress on various fronts in the coming months.'\n\n\nPatrick Harford, Managing Director\n\n\nFor further information please contact:\n\nMercator Gold plc\nTerry Strapp, Chairman Tel: +61 (0) 412 228 422\nPatrick Harford, Managing Director Tel: +44 (0) 20 7929 1010\nEmail: [email protected]\nWebsite: www.mercatorgold.com\n\nBankside Consultants Ltd Tel: +44 (0) 20 7367 8888\nSimon Rothschild, Keith Irons, Oliver Winters\n\n\nAIM: MCR\n\n\n MANAGING DIRECTOR'S REPORT\n\n Mercator Gold plc is pleased to provide interim results for the six month\n period to 31 December 2007. These results cover a landmark period in\n Mercator's development that has seen the Company commence commercial gold\n production and continue to lay the groundwork for considerable growth in\n its output over the coming years.\n\n The Company sold a total of 7,028 ounces during the period, generating\n total receipts of A$6.4m. The average price realised was A$912 per ounce\n (US$806), while the spot gold price ranged between A$858 (US$758) and A$942\n (US$ 795) per ounce. Actual gold produced equated to 9,510 ounces taking\n account for gold-in-circuit and remaining unsold as of 31 December 2007.\n\n The Company intends to list its shares on the Australian Stock Exchange in\n the next 12 weeks.\n\n The loss for the period of £3.5...