LONDON--(BUSINESS WIRE)--
02 February 2023
Metal Tiger plc
("Metal Tiger" or the "Company")
Armada Metals Limited – New Targets Identified at the Nyanga Project in Gabon
Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed investor in natural resource opportunities, is pleased to note that Armada Metals Limited (“Armada”) has announced the identification of additional targets at the Nyanga Magmatic Nickel-Copper (Ni-Cu) Project in Gabon.
Preliminary modelling of airborne Mobile Magnetotellurics survey data has defined multiple preliminary targets, which will direct future ground based Natural Source Audio-Magnetotelluric (“NSAMT”) programs and drill targeting. A series of ground-based NSAMT surveys are planned to follow up on the highest priority targets in advance of further drilling.
Metal Tiger holds 15,000,000 Armada Shares, representing approximately 14.42% of Armada’s issued share capital. In addition, Metal Tiger currently holds 3,333,333 options over Armada Shares, exercisable at a price of $A0.334 which expire on 30 December 2026.
Michael McNeilly, CEO of Metal Tiger, said:
“We are very pleased to note a successful 2022 exploration programme by Armada in Gabon, with the identification of new priority targets. We look forward to future updates on the follow-up and potential drill testing later in 2023”.
A link to Armada’s announcement, released today, is set out below:
https://www.asx.com.au/asxpdf/20230202/pdf/45l70nw9jrmkhl.pdf
For further information on the Company, visit: https://www.metaltigerplc.com/
Enquiries:
Michael McNeilly |
(Chief Executive Officer) |
Tel: +44 (0)20 3287 5349 |
Mark Potter |
(Chief Investment Officer) |
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James Dance Richard Johnson Robert Collins |
Strand Hanson Limited (Nominated Adviser) |
Tel +44 (0)20 7409 3494 |
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Simon Johnson Alexandra Campbell-Harris |
Zeus Capital Limited (Broker) |
Tel: +44 (0)20 7614 5900 |
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Gordon Poole Elfie Kent Rebecca Waterworth |
Camarco (Financial PR) |
Tel: +44 (0)20 3757 4980 |
Notes to Editors:
Metal Tiger PLC is admitted to the AIM market of the London Stock Exchange AIM Market ("AIM") and the ASX Market of the Australian Securities Exchange Market ("ASX") with the trading code MTR and invests in high potential mineral projects with a base, precious and strategic metals focus.
The Company's target is to deliver a high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector.
Equity Investments invests in undervalued natural resource companies. The majority of its investments are listed on AIM, the TSX and the ASX, which includes its interest in Sandfire Resources Limited (ASX: SFR). The Company also considers selective opportunities to invest in private natural resource companies, typically where there is an identifiable path to IPO.
The Company actively assesses new investment opportunities on an on-going basis and has access to a diverse pipeline of new opportunities in the natural resources and mining sectors. For pipeline opportunities deemed sufficiently attractive, Metal Tiger may invest in the project or entity by buying publicly listed shares, by financing privately and/or by entering into a joint venture.