Memorandum of Understanding - Metal Tiger Australia and Greatland Gold
Metal Tiger Plc
("Metal Tiger" or the "Company")
MEMORANDUM OF UNDERSTANDING – METAL TIGER AUSTRALIA AND GREATLAND GOLD
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to announce the signing of a Memorandum of Understanding (“MoU”) between Greatland Gold plc (LON:GGP) and Metal Tiger Australia Pty Limited (“Metal Tiger Australia” or “MTA”) a wholly owned subsidiary of Metal Tiger plc.
Metal Tiger Australia and Greatland Gold PLC have entered into a non-binding MoU to explore and cooperate on new ventures in the precious metals and strategic base metals sectors. The MoU is for an initial period of 12 months which can be extended if both parties agree.
Terry Grammer Chairman of Metal Tiger said “I am pleased to announce this MoU with Greatland Gold which is the first step in leveraging the skill base and contacts housed in MTA.
MTA is based in Perth, Western Australia and the team have access to an extensive range of excellent resource opportunities in Australia and Asia the furtherance of which can create value for Metal Tiger and any prospective partners.
This collaboration with Greatland Gold is the first formalised working arrangement for MTA and we are keen to see progress achieved through this structure as soon as possible.’
Memorandum of Understanding – Summary of Key Terms
The principle terms of the Memorandum of Understanding are as follows:
1. Metal Tiger Australia and Greatland will explore project level joint venture and/or co-investment opportunities in the precious metals and strategic base metals sectors on a global basis, but such efforts will focus primarily on Australian and Asian based projects.
2. Recognising the relative scale of both companies, Metal Tiger Australia will proactively inform Greatland of early-stage exploration projects it considers to be attractive but that are too early stage for Metal Tiger Austraila, and, Greatland will actively inform Metal Tiger Australia of attractive exploration and development projects that Greatland believes are too large or too complex for Greatland to execute.
3. Greatland and Metal Tiger Australia will work together to expand and solidify their network of industry contacts with a view to increasing new project lead generation.
4. Greatland and Metal Tiger Australia will discuss the viability of establishing an ASX-listed company that will focus primarily on Australian-based projects in the precious and strategic base metals sectors.
5. Both parties will work on a best efforts basis to collaborate on new ventures as outlined in terms above.
For further information on the Company, visit: www.metaltigerplc.com:
(Chief Executive Officer)
|Tel: +44 (0)207 099 0738|
|Tel: +44 (0)207 099 0738|
Spark Advisory Partners Limited
Tel: +44 (0)2033 683 555
|Tel: +44 (0) 1483 413 500|
VSA Capital Limited
(Financial Adviser and Joint Broker)
|Tel +44 (0) 20 3005 5000|
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