Metal Tiger plc MOD Resources Investment Update

 
TIDMMTR 
 
 

MOD Resources Investment Update

Metal Tiger Plc

("Metal Tiger" or the "Company")

MOD Resources Investment Update

Metal Tiger plc (LON:MTR) the London Stock Exchange AIM quoted investor in strategic natural resource opportunities is pleased to announce an update with regard to the Company's investment in MOD Resources (ASX:MOD).

Highlights:

 
 
    -- Metal Tiger currently holds 91,795,214 MOD shares valued at present at 

A$5,691,303 (circa GBP3,408,000) at today's ASX closing price of A$0.062;

 
    -- Metal Tiger also holds 1,541,667 warrants with an exercise price of 

$A0.06 (expiry 15.4.19);

Since 8 February 2017, Metal Tiger has made the following investments in MOD Resources for cash:

 
Date         Amount     Purchase Price (A$) 
09/06/2017   3,500,000  0.064 
13/06/2017   1,000,000  0.064 
14/06/2017   1,000,000  0.066 
15/06/2017   4,519,324  0.066 
16/06/2017   1,980,676  0.065 
 
 

MOD Resources reported audited net assets of A$18,407,416 and audited net loss of A$1,920,772 for the year ended 31.12.16.

Michael McNeilly Chief Executive Officer of Metal Tiger commented: "We are pleased to confirm the increasing investment by the Company in MOD Resources which adds considerably to the value of the Company's equity and warrant portfolio.

We anticipate further market updates in respect of Botswanan exploration progress in the near term."

For further information on the Company, visit: www.metaltigerplc.com:

 
Michael McNeilly (Chief                             Tel: [phone] 
Executive Officer) 
Keith Springall (Finance                            Tel: [phone] 
Director 
& Company Secretary) 
Sean Wyndham-Quin          Spark Advisory Partners  Tel: +44 (0) 
Neil Baldwin               Limited                  2033 683 555 
                           (Nominated Adviser)      www.sparkadvisorypartners.com 
Nick Emerson               SI Capital               Tel: [phone] 
Andy Thacker               (Joint Broker) 
Andrew Monk                VSA Capital Limited      Tel: [phone] 
Andrew Raca                (Joint Broker) 
Gordon Poole               Camarco                  Tel: [phone] 
James Crothers             (Financial PR) 
 
 

Notes to Editors:

Metal Tiger plc is listed on the London Stock Exchange AIM Market ("AIM") with the trading code MTR and invests in high potential mineral projects with a precious and strategic metals focus.

The Company's target is to deliver a very high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector timed to coincide, where possible, with a cyclical recovery in the exploration and mining markets. The Company's key strategic objective is to ensure the distribution to shareholders of major returns achieved from disposals.

Metal Tiger's Metal Projects Division is focused on the development of its key project interests in Botswana, Spain and Thailand. In Botswana Metal Tiger has a growing interest in the large and highly prospective Kalahari copper/silver belt. In Spain Metal Tiger the Company has tungsten and gold interests in the highly-mineralised Extremadura region. In Thailand Metal Tiger has interests in two potentially near-production stage silver/lead/zinc mines as well as licences, applications and critical historical data covering antimony, copper, gold, silver, lead and zinc opportunities.

The Company has access to a diverse pipeline of new opportunities focused on the natural resource sector including physical resource projects, new natural resource centred technologies and resource sector related fintech opportunities. Pipeline projects deemed commercially viable may be undertaken by Metal Tiger or by an AIM or NEX Exchange (formerly ISDX) partner with whom the Company is engaged.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170713005634/en/

 
This information is provided by Business Wire 
 
 

(END) Dow Jones Newswires

July 13, 2017 10:01 ET (14:01 GMT)