TIDMMTR
Metal Tiger Plc24 AUGUST 2016
Metal Tiger Plc("Metal Tiger" or the "Company")
Additional Strategic Investment in Red Rock Resources
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed
investor in strategic natural resource projects is pleased to
announce an additional strategic investment in Red Rock Resources
(LON:RRR) ("Red Rock").
We would refer readers to our announcement dated 29 April 2016
for details of the earlier investment in Red Rock made by Metal
Tiger.
Highlights:
-- Metal Tiger to subscribe for 25,000,000 new ordinary shares in Red
Rock at 0.4p per new ordinary share for a total additional
investment
of GBP100,000;
-- Metal Tiger to receive an additional 25,000,000 warrants exercisable
at 0.8p and with a 24 month longevity from admission to trading
of the
Red Rock placing shares on AIM;
-- Following the transaction Metal Tiger will hold 78,571,427 shares in
Red Rock representing 16.81% of the post financing issued
share
capital;
-- In addition following the transaction Metal Tiger will hold 29,761,904
warrants in Red Rock exercisable at 0.84p (see announcement
dated 29
April 2016 for warrant terms) and 25,000,000 warrants
exercisable at
0.8p (warrant terms as outlined above);
-- MTR intends to exercise its right (granted previously in conjunction
with the 29 April 2016 Red Rock financing) to nominate a
non-executive
director to the board of Red Rock.
Paul Johnson, the Chief Executive Officer of Metal Tiger plc
commented: "We are pleased to announce an increase in our
shareholding in Red Rock Resources. The board of Metal Tiger is
keen to continue to expand our investments in natural resource
companies where we believe there is significant share price upside
potential as the resource sector moves into a full recovery
phase.
We recognise the importance of stability and security that Red
Rock has generated through income from oil sales, sale proceeds
from Colombia and also through Red Rock's investments notably in
Jupiter Mines and Goldstone Resources.
That said, we also recognise that in a recovering resource
market environment the best returns for shareholders can often lie
in the reigniting of investment in hard rock mineral deposit
opportunities, notably within precious and strategic metals. We are
pleased that the Red Rock management team shares our thoughts in
this regard and will seek to drive the strategic direction of the
company to open up to the development of hard rock
opportunities.
Red Rock has demonstrated an ability to deliver substantial
returns from low sector sentiment conditions and we believe is
worthy of further investment in readiness for the next recovery
phase."
In the financial year ended June 2015 RRR made a loss of
GBP8,411,541 (interims to 31 December 2015 loss of GBP22,025) and
had net assets of GBP7,527,488 (interims to 31 December 2015 net
assets of GBP7,947,994).
For further information on the Company, visit:
www.metaltigerplc.com:
Paul Johnson (Chief Tel: +44 (0)7766 465 617
Executive Officer)
Terry Grammer (Non- Tel: +44 (0)207 099 0738
Executive
Chairman)
Sean Wyndham-Quin Spark Advisory Partners Tel: +44 (0)
Limited 2033 683 555
Neil Baldwin (Nominated Adviser) www.sparkadvisorypartners.com
Nick Emerson SI Capital Tel: +44 (0)
1483 413 500
Andy Thacker (Sole Broker)
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.
View source version on businesswire.com:
http://www.businesswire.com/news/home/20160823006289/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
August 24, 2016 02:00 ET (06:00 GMT)
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