Metal Tiger plc Sale of T3 Project and creation of New Exploration Joint Venture with MOD Resources

 
TIDMMTR 
 
 

01 November 2018

Metal Tiger plc

("Metal Tiger" or the "Company")

Update - Sale of T3 Project and creation of New Exploration Joint Venture with MOD Resources

Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, announces that further to the announcement on 18 July, Metal Tiger expects that completion of the sale of the T3 project and the creation of the new exploration Joint Venture with MOD Resources will occur by mid November. The only outstanding condition precedent for completion is the demerger itself.

As announced on 26 October, Ministerial approval has been received for the of transfer 8 JV licences (excluding PL 190/2008) from Tshukudu Metals Botswana (Pty) Ltd into a new Botswana registered JV exploration company, Tshukudu Exploration (Pty) Ltd, held MOD (70%) and MTR (30%). The transfer approval for the remaining 10 licences to Tshukudu Exploration (Pty) Ltd is pending.

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

 
Michael McNeilly    (Chief Executive Officer)    Tel: [phone] 
Mark Potter         (Chief Investment Officer)   Tel: [phone] 
Stephen Allen or    RFC Ambrian Ltd              Tel [phone] 
Bhavesh Patel       (Nominated Adviser) 
Charlie Cryer       RFC Ambrian Ltd              Tel [phone] 
                    (Joint Broker) 
Nick Emerson        SI Capital (Joint Broker)    Tel: [phone] 
Gordon Poole        Camarco                      Tel: [phone] 
James Crothers      (Financial PR) 
Monique Perks 
 
 

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, 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: https://www.businesswire.com/news/home/20181101005237/en/

 
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(END) Dow Jones Newswires

November 01, 2018 03:00 ET (07:00 GMT)