Metal Tiger PLC Kalahari Metals Limited - Environmental Permitting (9957U)
April 03 2019 - 6:13AM
UK Regulatory
TIDMMTR
RNS Number : 9957U
Metal Tiger PLC
03 April 2019
3 April 2019
Metal Tiger plc
("Metal Tiger" or the "Company")
Kalahari Metals Limited - Environmental Permitting Update
Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed
investor in strategic natural resource opportunities, is pleased to
announce that Kalahari Metals Limited ("KML"), in which Metal Tiger
owns 50% of the issued share capital, has received notification
that the Environmental Management Plan ("EMP") for KML's Ngami
Copper Project ("NCP") has been reviewed and approved by the
Botswana Department of Environmental Affairs ("DEA"), subject to a
four-week public review period.
The public review is the precursor to the EMP authorisation
which, if granted, would allow diamond drilling to commence on
three compelling targets within the NCP. Competitive drilling
tenders have been received and KML is confident drilling will take
place shortly after completion of the public review.
In addition, the EMP for KML's Okavango Copper Project ("OCP")
has been resubmitted with clarifications following feedback from
the DEA. KML views this as a significant step forwards, as KML went
through the same clarificatory process with the DEA, prior to the
approval of the EMP for NCP.
The EMPs for both the Kitlanya East and Kitlanya West projects
have also been submitted to the DEA, following the identification
of high priority new targets for investigation in both areas, as
announced 7 March 2019.
Michael McNeilly, Chief Executive Officer of Metal Tiger plc,
commented:
"I am delighted by the continued support that the Botswana
Department of Environmental Affairs has shown for the development
of the KML portfolio, in which we see significant potential. The
KML portfolio now includes a number of exciting geophysical and
structural targets, which warrant further investigation by
drilling. The anticipated drilling approvals for the Ngami Copper
Project will commence an exciting new chapter for the Company and
our shareholders, and we look forward to providing further updates
in due course."
Project Background
KML holds interests in 12 highly prospective exploration
licences covering a total area of 8,724km(2) in the Kalahari Copper
Belt, consisting of two 100% owned exploration licences, five
exploration licences subject to a binding earn-in agreement with
Triprop Holdings (Pty) Limited and five exploration licences
subject to an agreement with Resource Exploration and Development
Ltd.
Under an investment agreement, announced on 6 June 2018, Metal
Tiger owns 50% of KML, providing Metal Tiger with further exposure
to a largely unexplored area, adjacent to significant recent
discoveries in the highly prospective Kalahari Copper Belt.
Competent Person's Statement
The technical information contained in this disclosure has been
read and approved by Mr Nick O'Reilly (MSc, DIC, MAusIMM, FGS), who
is a qualified geologist and acts as the Competent Person under the
AIM Rules - Note for Mining and Oil & Gas Companies. Mr
O'Reilly is a Principal consultant working for Mining Analyst
Consulting Ltd which has been retained by Metal Tiger PLC to
provide technical support.
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 (Nominated Tel +44 (0)20 7409
James Dance Adviser) 3494
Jack Botros
Nick Emerson SI Capital (Broker) Tel: +44 (0)1483
413 500
Gordon Poole Camarco (Financial PR) Tel: +44 (0)20 3757
James Crothers 4980
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 10.48% 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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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