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Gold Production Opportunity Proceeds

RNS Number : 3322S
Metal Tiger PLC
16 March 2016
 

Metal Tiger Plc

16 March 2016

Metal Tiger Plc

("Metal Tiger" or the "Company")

 

 

Gold Production Opportunity Proceeds

 

Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to announce that yesterday the Company exercised its option to participate in the Semenovsky Tailings Project ("STP") gold production opportunity in partnership with Eurasia Mining (LON:EUA).

 

Readers wishing to understand the background to this opportunity should review the Company's announcement dated 16th November 2015 together with further updated information provided in the subsequent announcement dated 12th February 2016.

 

Paul Johnson Chief Executive Officer of Metal Tiger plc commented "I am please to confirm that Metal Tiger will be participating in this gold production opportunity.  The project fundamentals, particularly recently updated and announced in February made exercise of this option an obvious commercial decision for the Company. 

 

By exercising this option Metal Tiger is committed to a payment of up to US$100,000 for due diligence, US$50,000 of which has already been paid in option fees, leaving up to $50,000 payable for the due diligence phase.

 

We will be meeting with Eurasia shortly to review forward planning and will update the market with our plans for due diligence completion and 2016 activities, in the near term.  Metal Tiger also continues to receive interest in this project from third parties and will update the market should this interest crystallise.

 

Metal Tiger continues to build its portfolio of interests, now with a clear focus on its 'Metal Projects' Division.  The STP is an excellent addition to the larger scale opportunities in Botswana, Spain and Thailand, where significant progress is being made and further market updates are expected shortly."

 

 

 

 

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

 

Paul Johnson (Chief Executive Officer)


Tel: +44 (0)7766 465 617

Terry Grammer (Non- Executive Chairman)


Tel: +44 (0)207 099 0738

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 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 expanding interests over 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 ISDX or AIM partner with whom the Company is engaged. 

 

Metal Tiger also has an Asset Trading Division that holds various financial instruments for trading purposes including equities, warrants and royalty income.  The aim of the division is to generate profits to reinvest into the Company's project based activities.

 


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