Metal Tiger plc Thailand Permitting Process Update
November 30 2018 - 2:00AM
UK Regulatory
TIDMMTR
30 November 2018
Metal Tiger Plc
("Metal Tiger" or the "Company")
Thailand Permitting Process Update
Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed
investor in strategic natural resource opportunities, is pleased to
announce that, on 22 November 2018, the Thai Minister for Industry
(the "Minister") appointed the final six Mineral Committee
members.
The Mineral Committee under the newly implemented Minerals Act
B.E. 2560 (2017) (the "Act"), is charged with: 1) advising the
Minister of Industry on bidding procedures and the issuance of
ministerial regulations and notifications; 2) approval of special
prospecting licenses and mining leases and their renewals and
transfers; 3) revocation of mining lease conditions for properties
in certain mining categories; 4) resolution of complaints; and 5)
providing assessments of the impact on health and the
environment.
The mining lease and exploration licence permitting process in
Thailand was suspended in August 2017 when the Minerals Act B.E.
2510 (1967) was officially replaced by the Act, pending completion
of the 20-year minerals management strategy and the 5-year minerals
management master plan (2017-2021), which were ratified by the Thai
Cabinet in July 2018.
The Board of the Company views the finalisation of the Mineral
Committee as the remaining major legislative hurdle to the
resumption of the permitting process in Thailand. Accordingly, the
Board believes that the formal process of progressing Kemco and Boh
Yai's mining licence applications and Metal Tiger Exploration's
special prospecting licence applications in Thailand can
resume.
Michael McNeilly, Chief Executive Officer of Metal Tiger,
commented:
"The 20-year mineral management strategy and the first 5-year
mineral management master plan had been under consideration by the
Government of Thailand for over a year. The appointment of the
final six Mineral Committee members represents a major milestone
and the removal of a major hurdle that has kept Metal Tiger's
mining projects in Thailand from progressing. We now look forward
to restoring the application process for our Thai assets."
For further information on the Company, visit:
www.metaltigerplc.com:
Michael McNeilly (Chief Executive Officer) Tel: +44 (0)20 7099 0738
Mark Potter (Chief Investment Officer)
Richard Tulloch Strand Hanson Limited Tel +44 (0)20 7409 3494
James Dance (Nominated Adviser)
Jack Botros
Nick Emerson SI Capital (Broker) Tel: +44 (0)1483 413 500
Gordon Poole Camarco (Financial PR) Tel: +44 (0)20 3781 8331
James Crothers
Monique Perks
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 base, precious and strategic
metals focus.
The Company'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. The Company's key strategic objective is to ensure the
distribution to shareholders of major returns achieved from
disposals. Metal Tiger has two investment divisions, Direct
Equities and Direct Projects.
The Direct Equities division invests in undervalued natural
resource companies listed on AIM, the ASX and the TSX. Through the
trading of equities and warrants, Metal Tiger seeks to generate
cash for investment in the Direct Projects division.
Metal Tiger's Direct Projects division is focused on the
development of its key project interests in Botswana, Spain and
Thailand. In Botswana, Metal Tiger, through its 12.5% interest in
MOD Resources Limited and related JV, has a growing interest in the
large and highly prospective Kalahari copper/silver belt. In Spain,
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 lead/zinc/silver
mines as well as licences, applications and critical historical
data covering antimony, copper, gold, lead, zinc and silver
opportunities.
The Company actively assesses new investment opportunities on an
on-going basis and has access to a diverse pipeline of new
opportunities in the natural resources and mining sectors. For
pipeline opportunities deemed sufficiently attractive, Metal Tiger
may invest in the project or entity by buying publicly listed
shares, by financing privately and/or by entering into a joint
venture.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20181129005631/en/
This information is provided by Business Wire
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