Thailand Permitting Progress Update
Metal Tiger Plc
("Metal Tiger" or the "Company")
Thailand Permitting Progress Update
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to announce positive developments in respect of permitting applications being submitted by our Joint Venture partner, Metal Tiger Thailand (“MTT”) and in respect of the national exploration programme currently underway.
- Experienced permitting team now established in Bangkok office;
- Commencement of mine permitting process officially underway;
- Positive advancement in Exploration Department of Special Prospecting Licence Applications in multiple provinces; and
- Subject to granting of Special Prospecting Licenses Thai geological team gearing up to commence exploration work in respect of existing and new licence areas.
Paul Johnson, Chief Executive Officer of Metal Tiger commented “Metal Tiger was pleased to announce during August the commercial agreement in respect of the Boh Yai and Song Toh silver-lead-zinc mines. This agreement marked a major step forward for the Company and its Joint Venture partners in the plan to commence the permitting process for mining lease applications for the 43-101 Compliant Resource of 4,851,000 tonnes and thereafter mine and existing processing plant refurbishment leading to commercial production.
In addition to the latter mines Metal Tiger has exposure to a proactive national exploration programme in Thailand which is making major progress pursuing existing interests and identifying new opportunities.
This announcement provides details of latest developments in this national programme, but is only a small part of the forward news flow we anticipate from Thailand exploration work in the remainder of 2016. Further updates will therefore by definition follow.
Metal Tiger is privileged to be investing in Thailand, a country which offers tremendous geological opportunity. The Thai Joint Venture office is recruiting more Thai professional and administration staff whose energy, dynamism and commitment is invigorating. We are helping to build an ambitious Thai business that has been initially financed through London, but where we anticipate Asian finance will increasingly play a part in financing local activities.”
- MTT have completed work with the Chanthaburi Provincial Industrial Office to complete the provincial process for Special Prospecting License Application (“SPLA”) 1/2559.
- The Application has now been moved into final approval stages and is under review by the Department of Primary Industry and Mines (“DPIM”) Sub-Committee.
- MTT will continue to liaise with DPIM Bangkok with a view to granting of the Application license.
- The exploration plan and budget for SPLA 1-3/2559 in Prachinburi has been revised and re-submitted to the DPIM Regional Technical Centre and both documents have now been approved. All required documents for the Application have now been completed and the Prachinburi Industrial Office recently proposed the SPLAs to the Provincial Governor for consideration prior to forwarding to the DPIM in Bangkok and the final stages of approval.
- MTT will continue its work and liaison the Provincial Industrial Office and thereafter the DPIM Bangkok for the final approval stages in DPIM Bangkok.
SPLA Block 1:
- The exploration plan and budget for SPLA 1-2/2559 and SPLA 5-7/2559 in Kanchanaburi have been revised and re-submitted to DPIM Regional Technical Centre. The plan and budget are now under consideration.
- MTT continues to work and liaise with the Regional Technical Centre for approval to move the application to DPIM Bangkok.
SPLA Block 2:
- The Kanchanaburi SPLA 1/2557 remains with the Provincial Kanchanaburi Industry Office pending decisions on land use with the Provincial Land Reform Office.
- MTT is continuing to work with government agencies in Kanchanaburi to progress the SPLA and to secure submission to the DPIM in Bangkok.
- Applications are pending approval of Thailand’s policy on gold.
- MTT is pleased with the careful consideration being given by local and national authorities in the development of its gold policy. We continue to work with the government in this regard and take care to listen to the feedback we are given with regard to progress on policy development.
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.
Copyright Business Wire 2016