Strategic investment - Thor Mining
Metal Tiger Plc
17 May 2016
Metal Tiger Plc
("Metal Tiger" or the "Company")
STRATEGIC INVESTMENT - THOR MINING
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 Thor Mining plc ("Thor Mining")(AIM:THR).
§ Investment of £100,000 to acquire 400,000,000 Thor Mining shares at 0.025p;
§ Metal Tiger to receive one warrant at 0.05p for each Thor Mining share purchased at 0.025p in the placing (being 400,000,000 warrants in total), with a warrant life of 30 months;
§ Following completion of the above Metal Tiger will own 400,000,000 shares representing 6.97% of Thor Mining's issued share capital.
Paul Johnson, Chief Executive Officer of Metal Tiger commented "Metal Tiger continues to build a diverse range of natural resource investments around what we believe is the bottoming phase in natural resource microcap and junior equities.
Today's investment is another step in our building process and comes at a time when Thor Mining has recently experienced a strengthening of its finances through the sale of Spring Hill thus enabling it to orientate toward existing and potentially new project development.
We look forward to monitoring developments at Thor Mining with interest."
Thor Mining reported an audited loss of £915,000 for the year ended 30.06.15 and unaudited net assets of £8,992,000 as at 31.12.15.
Paul Johnson, Chief Executive Officer of Metal Tiger holds 1,244,654 shares in Thor Mining, valued at circa £350. Although not material in value terms, recognising this personal holding Paul Johnson excluded himself from the Company decision to proceed with this 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
Spark Advisory Partners Limited
Tel: +44 (0) 2033 683 555
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