TIDMMTR
RNS Number : 8798R
Metal Tiger PLC
01 July 2015
METAL TIGER PLC
1 July 2015
Metal Tiger plc
("Metal Tiger" or the "Company")
Further Equity Investment in Ariana Resources
Metal Tiger (LON: MTR), the natural resources investing company
is pleased to announce a further Direct Equity investment in Ariana
Resources plc ("Ariana") (LON:AAU).
Highlights:
-- On 30 June 2015 Metal Tiger exercised its option to invest an additional GBP75,000 in Ariana Resources plc at
0.9p per share to acquire a further 8,333,333 shares;
-- Metal Tiger is to receive 8,333,333 warrants to subscribe for new ordinary shares in Ariana Resources plc at 1.8p
per share with a three year exercise period;
-- This additional tranche brings the total Metal Tiger 2015 investment in Ariana Resources to GBP250,000, to date.
Metal Tiger's CEO Cameron Parry commented: "Metal Tiger is
delighted to confirm the exercise of its option to invest a further
GBP75,000 in Ariana Resources bringing the total invested in Ariana
to GBP250,000 to date.
Our original investment in Ariana was announced on 5 February
2015 and since that time Ariana has made significant progress
technically and operationally. Recent notable achievements of
Ariana include receipt of forestry permits allowing commencement of
construction of their gold production plant at Kiziltepe and
production of a Scoping Study demonstrating the prospective value
of their Salinbas/Ardala interests in North Eastern Turkey.
The progress made has, in the view of Metal Tiger, brought
Ariana to a highly important point of development and whilst the
market appears to be beginning to recognise Ariana's value, Metal
Tiger considers that going forward its exposure to Ariana has the
potential to deliver substantial returns."
Investment in Ariana Resources - summary
5 February 2015
Metal Tiger previously announced a Direct Equity Subscription by
the Company into Ariana Resources plc of GBP75,000 at 0.9p per
share amounting to a purchase of 8,333,333 new ordinary shares in
Ariana.
As part of this investment Metal Tiger received 8,333,333
warrants to subscribe for new ordinary shares in Ariana Resources
plc at 1.8 per share with an exercise period of 3 years from the
subscription date. Should Ariana dispose of the Salinbas/Ardala
project interest for in excess of $15million, the exercise price of
any unexercised warrants from this warrant tranche will increase by
50% to 2.7p per share.
7 April 2015
Metal Tiger announced a further Direct Equity Subscription by
the Company into Ariana Resources plc of GBP100,000 at 0.9p per
share amounting to a purchase of 11,111,111 new ordinary shares in
Ariana.
As part of this investment Metal Tiger received 11,111,111
warrants to subscribe for new ordinary shares in Ariana Resources
plc fixed at 1.8p per share with an exercise period of 3 years from
the subscription date.
30 June 2015
Metal Tiger today announces that the Company has exercised an
option to invest a further GBP75,000 in Ariana Resources through a
Direct Equity subscription at 0.9p per share amounting to a
purchase of 8,333,333 new ordinary shares in Ariana.
As part of this investment Metal Tiger will receive 8,333,333
warrants to subscribe for new ordinary shares in Ariana Resources
plc at 1.8p per share with an exercise period of 3 years from the
subscription date. Should Ariana dispose of the Salinbas/Ardala
project interest for in excess of $15million, the exercise price of
any unexercised warrants from this warrant tranche will increase by
50% to 2.7p per share.
Overall Summary
In three tranches during 2015 Metal Tiger has therefore invested
a total of GBP250,000 to acquire 27,777,777 shares in Ariana
Resources at a price of 0.9p per share. Metal Tiger currently holds
14,444,444 shares in Ariana Resources representing 2.2% of the
issued share capital prior to the addition of a further 8,333,333
Ariana shares on the future admission date of shares acquired in
this transaction.
In addition Metal Tiger currently holds 27,777,777 warrants in
Ariana Resources. 11,111,111 of which are exercisable at 1.8p each.
The balance of 16,666,666 warrants are exercisable at an exercise
price of 1.8p and In the event that Ariana confirms via an AIM
announcement that they have sold their interest in the
Salinbas/Ardala project for cash or share consideration in excess
of $15million, the price of any un-exercised warrants of the
16,666,666 will increase by 50% to an exercise price of 2.7p per
share.
Ariana Resources plc reported net assets of GBP6,476,000 as at
31 December 2014 and a loss for the year ended 31 December 2014 of
GBP1,000,000.
Collaboration
As announced on 5 February 2015, Metal Tiger and Ariana have
agreed to collaborate to identify and consider new resource
opportunities in Turkey where both parties may be able to
participate. Most notably both companies are keen to consider new
opportunities that may arise in respect of fresh licence auctions
taking place in Turkey and the companies are in regular
communication in relation to this.
For further information on the Company, visit:
www.metaltigerplc.com:
Metal Tiger Plc
Cameron Parry (CEO) Tel: +44 (0)207 099
0738
Paul Johnson (Executive Director) Tel: +44 (0)7766 465
617
Spark Advisory Partners Limited Tel: +44 (0) 2033
(Nominated Adviser) 683 555
Sean Wyndham-Quin
Neil Baldwin
SI Capital (Sole Broker) Tel: +44 (0) 1483
Nick Emerson 413 500
Andy Thacker
Notes to Editors:
Metal Tiger Plc is a natural resources focused investing company
quoted on the London Stock Exchange AIM Market ("AIM") with the
trading code MTR and two investment divisions, Direct Equities and
Direct Projects.
The Direct Equities division invests in quoted natural resource
explorers and developers, with a combination of shares and warrants
providing a potential non-debt financing instrument and enhanced
return potential.
The Direct Projects division invests in operational mineral
exploration projects with current investments in Spanish Gold &
Tungsten, Thai Gold, Copper & Antimony, and Tanzanian Gold and
Uranium. The Direct Projects investment division also has working
collaborations to identify new investment opportunities in Russia
(platinum focus) and Turkey (gold focus), in association with
experienced in-country partners.
Metal Tiger'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 timed to coincide where possible, with a cyclical recovery
in the exploration and mining markets.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCEAAXFESLSEFF
Metal Tiger (LSE:MTR)
Historical Stock Chart
From May 2024 to Jun 2024
Metal Tiger (LSE:MTR)
Historical Stock Chart
From Jun 2023 to Jun 2024
