Metal Tiger PLC Progress Update - Thailand (7207E)
February 12 2015 - 2:33AM
UK Regulatory
TIDMMTR
RNS Number : 7207E
Metal Tiger PLC
12 February 2015
METAL TIGER PLC
12 February 2015
Metal Tiger plc
("Metal Tiger" or the "Company")
Progress Update - Thailand
Metal Tiger Plc (LON: MTR) is pleased to update shareholders
with regard to the Company's progression of its interests in
Thailand.
As announced on 28 October 2014, Metal Tiger entered into a
Joint Venture Agreement ("JVA") with Thailand-based South East Asia
Exploration and Mining Company Limited ("SEAM") and Southeast Asia
Mining Corp., the parent company of SEAM, (together "Thai JV
Partners"). Further, on 12 December 2014, Metal Tiger announced
that an exploration licence had been granted by the Thai government
for one of the properties that form the JVA, and that Metal Tiger
is to commence as a 10% equity holder in each of the two new Thai
companies incorporated for the purpose of the JVA (the "Thai JV
Companies").
Metal Tiger can confirm the staged payment of US$50,000 was paid
to its Thai JV Partners on 29 January 2015 in line with the terms
of the JVA and the Company has arranged payment of a further
US$20,000 for the Thai JV Companies, which are now incorporated and
named: Tiger Minerals Ltd and Tiger Resources Ltd respectively.
Metal Tiger's CEO, Cameron Parry, commented: "Having recently
returned from Thailand, I'm pleased to report that Metal Tiger's
program there is tracking according to plan. The two JV companies,
Tiger Minerals and Tiger Resources, have been incorporated and are
ready to move to first ranking status with their respective
applications for prospecting the JV properties. Further, Metal
Tiger is progressing with an exploration program for the property
that has received its prospecting licence. Further updates will be
provided in due course."
For further information on the Company, visit:
www.metaltigerplc.com:
Cameron Parry Tel: +44 (0)207
(CEO) 099 0738
Paul Johnson Tel: +44 (0)7766
(Executive 465 617
Director)
Sean Wyndham-Quin Spark Advisory Partners Tel: +44 (0) 2033
Neil Baldwin Limited 683 555
(Nominated Adviser)
Nick Emerson SI Capital Limited Tel: +44 (0) 1483
Andy Thacker (Sole Broker) 413 500
This information is provided by RNS
The company news service from the London Stock Exchange
END
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