Thailand Permitting Process Update
30 November 2018
Metal Tiger Plc
(“Metal Tiger” or the “Company”)
Thailand Permitting Process Update
Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to announce that, on 22 November 2018, the Thai Minister for Industry (the “Minister”) appointed the final six Mineral Committee members.
The Mineral Committee under the newly implemented Minerals Act B.E. 2560 (2017) (the “Act”), is charged with: 1) advising the Minister of Industry on bidding procedures and the issuance of ministerial regulations and notifications; 2) approval of special prospecting licenses and mining leases and their renewals and transfers; 3) revocation of mining lease conditions for properties in certain mining categories; 4) resolution of complaints; and 5) providing assessments of the impact on health and the environment.
The mining lease and exploration licence permitting process in Thailand was suspended in August 2017 when the Minerals Act B.E. 2510 (1967) was officially replaced by the Act, pending completion of the 20-year minerals management strategy and the 5-year minerals management master plan (2017-2021), which were ratified by the Thai Cabinet in July 2018.
The Board of the Company views the finalisation of the Mineral Committee as the remaining major legislative hurdle to the resumption of the permitting process in Thailand. Accordingly, the Board believes that the formal process of progressing Kemco and Boh Yai’s mining licence applications and Metal Tiger Exploration’s special prospecting licence applications in Thailand can resume.
Michael McNeilly, Chief Executive Officer of Metal Tiger, commented:
“The 20-year mineral management strategy and the first 5-year mineral management master plan had been under consideration by the Government of Thailand for over a year. The appointment of the final six Mineral Committee members represents a major milestone and the removal of a major hurdle that has kept Metal Tiger’s mining projects in Thailand from progressing. We now look forward to restoring the application process for our Thai assets.”
For further information on the Company, visit: www.metaltigerplc.com:
|Michael McNeilly||(Chief Executive Officer)||Tel: +44 (0)20 7099 0738|
|Mark Potter||(Chief Investment Officer)|
| Richard Tulloch |
| Strand Hanson Limited |
|Tel +44 (0)20 7409 3494|
|Nick Emerson||SI Capital (Broker)||Tel: +44 (0)1483 413 500|
| Gordon Poole |
|Camarco (Financial PR)||Tel: +44 (0)20 3781 8331|
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 base, precious and strategic metals focus.
The Company’s target is to deliver a high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector. The Company’s key strategic objective is to ensure the distribution to shareholders of major returns achieved from disposals. Metal Tiger has two investment divisions, Direct Equities and Direct Projects.
The Direct Equities division invests in undervalued natural resource companies listed on AIM, the ASX and the TSX. Through the trading of equities and warrants, Metal Tiger seeks to generate cash for investment in the Direct Projects division.
Metal Tiger’s Direct Projects division is focused on the development of its key project interests in Botswana, Spain and Thailand. In Botswana, Metal Tiger, through its 12.5% interest in MOD Resources Limited and related JV, 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 lead/zinc/silver mines as well as licences, applications and critical historical data covering antimony, copper, gold, lead, zinc and silver opportunities.
The Company actively assesses new investment opportunities on an on-going basis and has access to a diverse pipeline of new opportunities in the natural resources and mining sectors. For pipeline opportunities deemed sufficiently attractive, Metal Tiger may invest in the project or entity by buying publicly listed shares, by financing privately and/or by entering into a joint venture.
Metal Tiger plc