Metal Tiger plc Investment Update
October 13 2017 - 5:55AM
UK Regulatory
TIDMMTR
13 October 2017
Metal Tiger Plc
("Metal Tiger" or the "Company")
Investment Update
Metal Tiger plc (LON:MTR), the London Stock Exchange AIM quoted
investor in strategic natural resource opportunities, is pleased to
announce a strategic investment in Kingsgate Consolidated Limited
(ASX:KCN).
Highlights:
-- Metal Tiger plc today purchased 1,850,000 ordinary shares in KCN at an
average price of AUD$0.3249 (GBP0.19) per ordinary share for a
total
consideration of AUD$601,065 (circa GBP354,544), to bring its
total
holding in KCN up to 11,153,409 ordinary shares, representing
4.99% of
the company;
-- Metal Tiger started buying shares in KCN on 22 June 2017 and its
average acquisition price is AUD$0.2441 (GBP0.14).
-- Purchases were financed primarily from funds realised from trading
division disposals.
Kingsgate Consolidated Limited is an ASX listed Gold Company
which owns two main assets, the Chatree Gold Mine, through its Thai
subsidiary Akara Resources Public Company Limited and the 100%
owned Nueva Esperanza Project Silver Gold project in Chile where a
definitive feasibility study is expected in January 2018. KCN is
currently in negotiations with the Thai government to reopen the
Chatree Gold Mine after it ceased operations in December 2016.
In the financial year ended 30 June 2017 KCN made total
comprehensive income of AUD$8,333,000 (GBP4,906,470) and had net
assets of AUD$100,860,000 (GBP59,401,497).
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)20 7099 0738
Director
& Company Secretary)
Stephen Allen or RFC Ambrian Ltd Tel +44 (0)20 3440 6800
Bhavesh Patel (Nominated
Adviser)
Jonathan Williams RFC Ambrian Ltd Tel +44 (0)20 3440 6800
(Joint Broker)
Nick Emerson SI Capital Tel: +44 (0)1483 413 500
(Joint Broker)
Gordon Poole Camarco Tel: +44 (0)20 3757 4980
James Crothers (Financial PR)
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations ("MAR") (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
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
interests in two potentially near-production stage silver/lead/zinc
mines as well as 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/20171013005221/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
October 13, 2017 05:55 ET (09:55 GMT)
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