Metal Tiger plc - MOD Resources Investment Update
29 August 2017
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 additional investment in MOD Resources (ASX:MOD), taking the Company’s shareholding to over 5 per cent.
In a share purchase completed today, the Company, which previously held 91,795,214 MOD Resources shares valued at A$5,599,508 (circa £3,444,791) at today’s ASX closing price of A$0.061 as well as 1,541,667 warrants with an exercise price of $A0.06 (expiry 15.4.19), has made an additional investment for 3,748,720 MOD Resources shares at a price of A$0.06157. Following the share purchase the Company now holds 5.049 per cent. of MOD Resources.
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 announce the increasing investment by the Company in MOD Resources which takes us to over the 5% reportable threshold for the ASX market and reaffirms our confidence in the potential of the T3 Botswana asset.”
For further information on the Company, visit: www.metaltigerplc.com:
|Michael McNeilly (Chief Executive Officer)||Tel: +44(0)20 7099 0738|
|Keith Springall (Finance Director & Company Secretary)||Tel: +44 (0)20 7099 0738|
|Stephen Allen or Bhavesh Patel|| RFC Ambrian Ltd
|Tel: +44 (0) 3440 6800|
|Jonathan Williams|| RFC Ambrian Ltd
|Tel: +44 (0)20 3440 6800|
|Nick Emerson|| SI Capital
|Tel: +44 (0)1483 413 500|
| Andrew Monk
| VSA Capital Limited
|Tel: +44 (0)20 3005 5000|
| Gordon Poole
|Tel: +44 (0)20 3757 4980|
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.