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MOD Resources Progress Update on the Proposed Sandfire Transaction

MOD Resources Progress Update on the Proposed Sandfire Transaction

 

21 August 2019

Metal Tiger plc

("Metal Tiger" or the "Company")

MOD Resources - Progress Update on the Proposed Sandfire Transaction

Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to note the announcement made by MOD Resources Ltd ("MOD") (ASX/LSE: MOD) today (the "MOD Announcement"), which provides an update on the proposal from Sandfire Resources NL (“Sandfire”) (ASX:SFR) to acquire 100% of MOD shares by way of a Scheme of Arrangement.

Please see link to the MOD Announcement below:

https://www.asx.com.au/asxpdf/20190821/pdf/447p2fplvm8nd9.pdf

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

Enquiries:

 

 

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

James Dance

(Nominated Adviser)

Jack Botros

Nick Emerson

SI Capital Limited

Tel: +44 (0)1483 413 500

(Joint Broker)

 
 

Paul Shackleton

Arden Partners plc

Tel: +44 (0)20 7614 5900

Steve Douglas

(Joint Broker)

 

Gordon Poole

Camarco

Tel: +44 (0)20 3757 4980

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 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, which includes its 10.48% interest in MOD Resources Limited ("MOD"). 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 JV with MOD and its interest in Kalahari Metals Limited, 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