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Strategic Investment - Connemara Mining Company

RNS Number : 1987Y
Metal Tiger PLC
13 May 2016
 

Metal Tiger Plc

13 May 2016

Metal Tiger Plc

("Metal Tiger" or the "Company")

 

 

Strategic Investment - Connemara Mining Company

 

Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource projects is pleased to announce a strategic investment totalling £100,000 in Connemara Mining Company plc ("Connemara Mining ")(AIM:CON).

Highlights:

 

§ Investment of £100,000 in cash to acquire 5,000,000 Connemara Mining shares at 2p;

 

§ Metal Tiger to receive one warrant at 5p for each Connemara Mining share purchased at 2p in the placing (being 5,000,000 warrants in total), with a warrant life of 24 months;

 

§ Following completion of the above Metal Tiger will own 5,000,000 shares representing 6.6% of Connemara Mining's issued share capital.

 

 

Terry Grammer, Chairman of Metal Tiger commented "this strategic investment in Connemara Mining demonstrates Metal Tiger's interest in natural resource exploration in Ireland and complements the investment made in Conroy Gold and Natural Resources recently.

 

We are pleased to see the commitment of Connemara Mining to utilise the funds raised to continue drilling in Donegal and look forward to the results from the drilling programme in due course.

 

Metal Tiger is keen to undertake and support further investment in Irish exploration through its Asset Trading and Metal Projects divisions and further work is being undertaken to achieve this objective.  As and when further transactions are finalised we will notify the market accordingly."

 

 

Paul Johnson, Chief Executive Officer of Metal Tiger holds shares in Connemara Mining and therefore excluded himself from the decision to proceed with this strategic investment.

 

 

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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