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Thailand Mineral Act 2016 Update

RNS Number : 8272R
Metal Tiger PLC
14 December 2016
 

Metal Tiger Plc

14 December 2016

Metal Tiger Plc

("Metal Tiger" or the "Company")

 

Thailand Mineral Act 2016 Update

 

Metal Tiger (LON: MTR), the natural resources investing company is pleased to provide an update with regard to the drafting of a new Mineral Act in Thailand.

 

On 8th December 2016 the Thai National Legislative Assembly approved a draft of the Mineral Act 2016.  The draft will enter the legislature subject to the signature of King Maha Vajiralongkorn.

 

Following an initial review the Company is pleased to confirm the Mineral Act proposed includes a number of positive and progressive changes to the original legislation that will further support diligent and respectful investors in Thailand to undertake mineral exploration and development work.

 

The Company's joint Venture partner Metal Tiger Thailand is currently undertaking a full review of the proposed Mineral Act and will provide a further and fuller update to market in due course.

 

 

Michael McNeilly, Chief Executive Officer of Metal Tiger plc commented: "Metal Tiger is pleased to be able to report with regard to the proposed Mineral Act 2016 which we consider represents a significant positive step forward. 

 

Our Joint Venture partners Metal Tiger Thailand has assembled a strong team focused on Thailand mineral exploration, development and production.  The strategic value of our investment in Metal Tiger Thailand is bolstered materially by positive developments of this nature in the legislature.

 

The Company considers that Thailand has exceptional geology and we have invested on the basis of building one of the strongest strategic operations in-country. 

 

Metal Tiger Thailand is focused on working in a manner respectful of the Thai people and the legal/regulatory structures in place and we look forward to providing a fuller update to market in due course."

 

 

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

 

Michael McNeilly (Chief Executive Officer)


Tel: +44 (0)20 7099 0738

Keith Springall (Finance Director & Company Secretary)


Tel: +44 (0)20 7099 0738

Sean Wyndham-Quin

Neil Baldwin

Spark Advisory Partners Limited

(Nominated Adviser)

Tel: +44 (0) 2033 683 555

www.sparkadvisorypartners.com

Nick Emerson

Andy Thacker

SI Capital

(Joint Broker)

Tel: +44 (0)1483 413 500

Andrew Monk

Andrew Raca

VSA Capital Limited

(Joint Broker)

Tel: +44 (0)20 3005 5000

Gordon Poole

Sean Blundell

Camarco

(Financial PR)

Tel: +44 (0)203 757 4980

 

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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