LONDON--(BUSINESS WIRE)--
Metal Tiger plc
19 December 2016
Metal Tiger Plc
("Metal Tiger" or the "Company")
Update on Botswanan Joint Venture Partner
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities notes that MOD Resources (ASX:MOD), the 70% owner of Metal Tiger’s Joint Venture in Botswana has today raised A$5.46 million (approx. £3.19 million) to fund ongoing expenditure on the Botswanan project.
In particular the funds raised will be utilised for feasibility studies in respect of the Joint Venture T3 copper-silver deposit and for further substantial exploration across the T3 Dome structure.
Work is set to resume on site in early January 2017 after the Christmas break. Exploration will include resource extension and geotechnical drilling at T3, completion of soil sampling coverage of T3 Dome, systematic RC drilling along the T3 host sequence, a trial 3D IP survey to define structural targets at depth and diamond drilling for testing new targets.
A copy of the announcement released today by MOD Resources can be found at the following link:
http://www.modresources.com.au/asx-announcements
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
|
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|
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.