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Thailand Acquisition - Corporate Update

RNS Number : 2998M
Metal Tiger PLC
19 January 2016
 

Metal Tiger Plc

19 January 2016

Metal Tiger Plc

("Metal Tiger" or the "Company")

 

 

Thailand Acquisition - Corporate Update

 

Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to announce an update in relation to the Company's corporate activities in Thailand.

 

On 24 November 2015 Metal Tiger announced the option to acquire 90% of the remaining South East Asia Mining ("SEAM") Thailand operations and assets including licences in application.  This option was agreed following extensive review by Metal Tiger of the interests held by SEAM and the potential additional value such an acquisition could bring to Metal Tiger today, and more importantly going forward.

 

The acquisition was subject to two principle stages and firstly the approval of the transaction by SEAM shareholders. 

 

Metal Tiger can confirm that during a meeting of SEAM shareholders on 12 January 2015 the transaction with Metal Tiger was approved and is now in a position to proceed subject to Metal Tiger electing to proceed and exercise its option to acquire SEAM.

 

Due diligence work is continuing and in recent weeks Metal Tiger has been on the ground with its technical advisors to assess the Thailand operations and to determine the technical and commercial viability of the proposed acquisition. 

 

Progress with due diligence has been very positive to date from a technical perspective and whilst we remain optimistic that this transaction will proceed as planned, there can be no guarantee at this time that Metal Tiger will elect to exercise the option.  We are continuing to complete a number of standard due diligence steps and will report back to the market in due course.

 

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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