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Botswana Kalahari Copper Belt Licences Acquired

RNS Number : 1912J
Metal Tiger PLC
16 December 2015
 

Metal Tiger Plc

16 December 2015

Metal Tiger Plc

("Metal Tiger" or the "Company")

 

 

Botswana Kalahari Copper Belt Licences Acquired

 

Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to announce completion of the acquisition of the Kalahari Copper Belt Licences full details of which were originally announced to market on 10 November 2015. 

 

We would draw readers attention to the full announcement relating to completion of this commercial transaction which can be found on our project partner's website at http://www.modresources.com.au or the MOD Resources ASX website page at http://www.asx.com.au/asx/research/company.do#!/MOD

 

Highlights:

  • Rare and exciting opportunity for MTR to participate alongside MOD in substantial and highly prospective Copper/Silver project;
  • Interest includes a total area of 6,300km2 in the central and western part of the Kalahari Copper Belt;
  • All conditions precedent to the acquisition have now been satisfied or waived and the acquisition has completed with Metal Tiger holding 30% of the acquisition interests and  MOD Resources holding 70%;
  • Acquisition marks a potentially major increase in the underlying value of the Metal Tiger portfolio, which can be further enhanced through work to be conducted on the ground; and
  • MOD Resources and Metal Tiger are now engaged on advanced preparations for the forward exploration work programme which is scheduled to commence in early 2016.

 

Cameron Parry, Metal Tiger CEO commented: "Metal Tiger is delighted to confirm the completion of this transaction which marks a potentially major upward shift in the value and potential of the Company's Direct Projects portfolio.

 

We are invested alongside MOD Resources who have been active in Botswana for some time and who have extensive on-the-ground experience.  Moreover we are delighted to commence work in Botswana itself, a country that has a very strong reputation in London for supporting the mining industry and encouraging investment.

 

Investors should be aware that this new opportunity is substantial, with MOD Resources work to date demonstrating the highly attractive prospectivity and commercial potential of this region. We believe that this is a company transforming opportunity for Metal Tiger and we look forward to the work ahead and further increasing the value of the Project.

 

Metal Tiger continues to be highly active and anticipates further news will be reported across our portfolio in the coming weeks and months."

 

 

 

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

 

Cameron Parry (CEO)

 

Tel: +44 (0)207 099 0738

Paul Johnson (Executive Director)

 

Tel: +44 (0)7766 465 617

Sean Wyndham-Quin

Neil Baldwin

Nick Emerson

Andy Thacker

Spark Advisory Partners Limited

(Nominated Adviser)

SI Capital

(Sole Broker)

 

Tel: +44 (0) 2033 683 555

www.sparkadvisorypartners.com

Tel: +44 (0) 1483 413 500

Notes to Editors:

 

Metal Tiger plc is a natural resources focused investing company quoted on the London Stock Exchange AIM Market ("AIM") with the trading code MTR and two investment divisions, Direct Projects and Direct Equities. 

 

The Direct Projects division invests in mineral exploration projects operated by trusted partners on the ground.  Projects are selected for their strategic significant in terms of commodity, location and commerciality factors.  Key strategic investments to date include Spanish Gold & Tungsten, Thai Gold, Copper & Antimony, and Botswanan Copper & Silver. 

 

The Direct Equities division invests in quoted natural resource explorers and developers, with a combination of shares and warrants and seeks generate trading profits for reinvestment into the Direct Projects division.

 

Metal Tiger'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.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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