Metal Tiger PLC Exercise of EUA Warrants (6410S)
July 09 2015 - 9:30AM
UK Regulatory
TIDMMTR
RNS Number : 6410S
Metal Tiger PLC
09 July 2015
METAL TIGER PLC
9 July 2015
Metal Tiger Plc
("Metal Tiger" or the "Company")
Exercise of EUA Warrants
Metal Tiger (LON: MTR), the natural resources investing company
is pleased to announce it notified Eurasia Mining (LON:EUA
"Eurasia") yesterday of its intention to exercise its warrants to
acquire 30m new ordinary shares in Eurasia at a price of 1p per
share at a total exercise cost of GBP300,000. MTR has now exercised
all its warrants in Eurasia.
On the 29(th) of December 2014 Metal Tiger announced the
acquisition of 30m new ordinary shares in Eurasia at a price of
0.5p per new ordinary share. In addition Metal Tiger was awarded
with 30m warrants to subscribe for a further 30m new ordinary
shares at an exercise price of 1p per share with a 3 year exercise
period. The warrants were subject to an escalator clause whereby
should Eurasia Mining announce receipt of the West Kytlim Mining
Licence by regulatory announcement, the exercise price of any
unexercised warrants would increase to 1.5p.
Since the original acquisition of Eurasia shares on the 29(th)
of December 2014, Metal Tiger has disposed of its entire holding
for more than double its original invested amount generating a
profit of over GBP180,000 on the investment cost of GBP150,000 - a
return of 120%.
Metal Tiger has chosen to largely reinvest the proceeds by
converting its entire 30m warrants in Eurasia and lock in the 1p
warrant price, prior to receipt of the Mining Licence by Eurasia.
In the Final Results for the year ended 31.12.14 Eurasia Mining
reported a loss for the year of GBP502,500 and net assets of
GBP4,087,708.
Following admission of the new ordinary shares Metal Tiger will
own 30m shares in Eurasia Mining.
Cameron Parry CEO of Metal Tiger commented: "Metal Tiger is
delighted to note the Prime Ministerial approval Eurasia announced
yesterday for its West Kytlim Mining Licence application. And
having made a significant return over 6 months on the original
investment, Metal Tiger is pleased to lock in the warrant price of
1p per share enabling it to invest a further GBP300,000 in Eurasia
Mining at this key point in the Company's development.
The additional funds will enable Eurasia to move at pace with
continuing preparations for platinum mining and we are delighted to
support Eurasia's work with this additional investment which will
be funded from existing cash resources.
After the success of Metal Tiger's strategic investment in Kibo
Mining Plc, it is particularly pleasing to see success in the
Eurasia Mining investment. Metal Tiger is also looking forward to
the continuing progress at Ariana Resources Plc, notably after
Ariana received their forestry permits, enabling the commencement
of construction of their Kiziltepe gold production plant in
Turkey.
With the investment in Eurasia Mining announced today, Metal
Tiger has now undertaken strategic investments in Kibo, Eurasia and
Ariana totalling GBP1,150,000 in funding through highly significant
value generative milestones for each company. We will continue to
invest strategically with this in mind, alongside the smaller sized
investments made through our on-market portfolio where we see
opportunities to acquire stakes in listed resource companies with
substantial upside potential."
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
MSCEAAXNEDESEFF
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