Metal Tiger plc Exercise of Warrants in MOD Resources Limited
February 08 2017 - 4:05AM
UK Regulatory
TIDMMTR
Metal Tiger Plc
08 February 2017
Metal Tiger Plc
("Metal Tiger" or the "Company")
Exercise of Warrants in MOD Resources Limited
Metal Tiger (LON: MTR), the natural resources investing company
is pleased to announce that it has today elected to conduct a
strategic exercise of its 29,166,666 warrants at AUD 1 cent per
warrant in MOD Resources Limited (ASX:MOD) for 29,166,666 new
shares in MOD at a cost of AUD 291,667 (GBP178,937). Following this
exercise Metal Tiger will hold 81,102,302 shares in MOD Resources
Limited ("MOD") representing 5.01% of the issued share capital of
MOD which upon receipt of the newly issued shares will put MTR
above notifiable on the ASX.
The Board is pleased that this sum, whilst modest, will
contribute both to Metal Tiger and MOD's 30/70 joint venture in the
Kalahari Copper Belt as well as toward other expenditure by MOD on
non-JV licences in the region.
Michael McNeilly, Chief Executive Officer, commented: "I
recently visited Perth, where Terry Grammer and I met with the
Board of MOD to discuss the Joint Venture and strategy going
forward for MOD both with regard to the Joint Venture as well as
MODs non-JV licences. Following these meetings I believe that there
is a clear understanding of how MOD wishes to progress matters. It
is clear that MOD wish to progress the T3 project to production
whilst expanding exploration within the JV as well as in areas
outside of the JV to hopefully demonstrate the tremendous potential
of the region. Metal Tiger is fully supportive and on board with
their strategy and believes that this exercise of our warrants
demonstrates the Company's intentions.
On a side note, Alastair Middleton, Technical Director of Metal
Tiger has recently concluded a site visit to the JV area and other
MOD licences and is currently in Cape Town for Indaba and the 121
Mining Investment conference and it is clear from his reports and
meetings that there is significant interest in the exploration
potential of the region."
For further information on the Company, visit:
www.metaltigerplc.com:
Michael McNeilly(Chief Tel: +44(0)20 7099 0738
Executive Officer)
Keith Springall (Finance Tel: +44 (0)207099 0738
Director
& Company Secretary)
Sean Wyndham-Quin Spark Advisory Partners Tel: +44 (0)
Neil Baldwin Limited 2033 683 555
(Nominated Adviser)
www.sparkadvisorypartners.com
Nick Emerson SI Capital Tel: +44 (0)1483 413 500
Andy Thacker (Joint Broker)
Andrew Monk VSA Capital Limited Tel: +44 (0)20 3005 5000
Andrew Raca (Joint Broker)
Gordon Poole Camarco Tel: +44 (0)203 757 4980
James Crothers (Financial PR)
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 AIM or NEX Exchange (formerly ISDX) partner
with whom the Company is engaged.
View source version on businesswire.com:
http://www.businesswire.com/news/home/20170208005454/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
February 08, 2017 04:05 ET (09:05 GMT)
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