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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Brady Explor. | LSE:BRDY | London | Ordinary Share | GB0030493232 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.625 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMMTR
Metal Tiger PLC
25 August 2017
Metal Tiger Plc
25 August 2017
Metal Tiger Plc
("Metal Tiger" or the "Company")
Receipt of final KEMCO Economic Contribution Assessment
Metal Tiger plc (LON:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to announce that the Company has received a final revised Economic Contribution Assessment, produced by Five Corners Consulting, for the assets of the Company's Thai Joint Venture ("KEMCO JV") over the Song-Toh and Boh-Yai silver-lead-zinc mines (the "Project") located in Thailand.
Highlights (Note: currency values are denoted in USD):
-- Total quantified direct benefits to the Thai national economy of $287.4 million, comprised of:
o $130.6 million in payments to Thai suppliers;
o $47.4 million in salaries and wages to local and Bangkok employees;
o $37.1 million in taxes and fees paid to the government;
o $69.3 million in royalties; and
o $3.04 million in community projects and training.
-- An additional $115.0 million in indirect multiplier benefits will accrue for a total contribution of $402.4 million.
o Total benefits to the local Kanchanaburi Province economy of $152.1 million, including:
-- $27.7 million in allocated royalties;
-- $40.1 million in salaries;
-- $45.8 million in purchases of equipment and consumables; and
-- $15.4 million in up front capital expenditures.
-- The Project will generate external benefits beyond the financial returns by:
o Developing Thailand's skill base through training of unskilled, semi-skilled, and qualified nationals;
o Providing employment opportunities in rural areas;
o Setting world-class benchmarks in safety, employment standards, business governance, and environmental management;
o Helping Thai firms to develop new products and promote exports; and
o Providing detailed land surveying data to the government, which can then be applied to land- use management.
-- Indirect benefits will help the Government achieve its goals set out in: "Thailand's 20-year strategy
(2017-2036)", for attaining developed country status through economic stability, human capital, equal economic opportunities, environmental sustainability, competitiveness, and effective government bureaucracies; and "The 12th National Economic and Social Development Plan (October 2016-September 2021)", which focuses on reducing income disparity and poverty, enhancing competitiveness, promoting natural capital and environmental quality, and boosting confidence in Thailand in the international community.
Five Corners Consulting is an independent boutique risk/corporate affairs consultancy that focuses closely on Southeast Asia and has delivered country, political, economic and regulatory risk assessments on every Association of Southeast Asian Nations ("ASEAN") country. A draft version was delivered in January 2017, using economic outputs generated from the Preliminary Economic Assessment produced for the project by ACA Howe in 2013. This revised version incorporates the economic outputs modelled by SRK Consulting in their JORC compliant Competent Person's Report as announced on 13 June 2017.
The Economic Contribution Assessment considers the total economic benefit of the project to the Thai economy at the following levels:
-- Direct and indirect benefits to the national economy; -- Benefits to the Kanchanaburi provincial economy; and
-- External benefits generated from linkages with government policies, human capital development,
governance and standards, FDI, and enterprise development.
And includes contributions such as:
-- Payments to Thai suppliers; -- Wages and Salaries paid to local employees; -- Taxes and Fees paid to Government; -- Royalties; -- Community projects, training, scholarships & activities; and -- Contractor Services.
Assumptions made regarding payments to non-Thai suppliers, thus not contributing to the Thai economy, as well as the portion of supplies that can be sourced locally versus nationally, were based in part on historical purchasing records as well as input from former employees involved in purchasing.
A conservative 'value-added multiplier' of 1.4 was used to calculate the indirect contribution; that is, for every $100 in direct contribution, an additional $40 in indirect contribution would accrue to the Thai economy, via consequential benefits of more widely induced economic activity. All numbers reflect the economic benefit for the projected mine life of 13 years.
Michael McNeilly Chief Executive Officer of Metal Tiger commented:
"We are delighted to confirm receipt of the Economic Contribution Assessment highlighting the significant benefit that developing the Song-Toh and Boh-Yai silver-lead-zinc mines will bring to the country. We look forward to Kemco delivering the Project and realising this contribution."
For further information on the Company, visit: www.metaltigerplc.com:
Michael McNeilly (Chief Tel: +44(0)20 7099 Executive Officer) 0738 Keith Springall (Finance Tel: +44 (0)20 7099 Director & Company 0738 Secretary) Stephen Allen or Bhavesh RFC Ambrian Tel +44 (0)20 3440 Patel Ltd (Nominated 6800 Adviser) Jonathan Williams RFC Ambrian Tel +44 (0)20 3440 Ltd (Joint 6800 Broker) Nick Emerson SI Capital Tel: +44 (0)1483 Andy Thacker (Joint Broker) 413 500 Andrew Monk VSA Capital Tel: +44 (0)20 3005 Andrew Raca Limited 5000 (Joint Broker) Gordon Poole Camarco Tel: +44 (0)20 3757 James Crothers (Financial 4980 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
August 25, 2017 07:19 ET (11:19 GMT)
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