METAL TIGER PLC: Investment in Artemis Resources Limited
July 17 2020 - 2:00AM
UK Regulatory
TIDMMTR
Metal Tiger plc
("Metal Tiger" or the "Company")
Investment in Artemis Resources Limited
Metal Tiger plc (AIM: MTR), the London Stock Exchange AIM listed
investor in natural resource opportunities, is pleased to announce
that it has subscribed for 7,142,857 new ordinary shares in Artemis
Resources Limited ("Artemis") (the "Artemis Shares") at a price of
A$0.07 per share for an investment cost of A$500,000 (the
"Investment").
The Investment forms part of Artemis' A$5.6 million fundraise
(the "Fundraise") announced earlier today, further details of which
can be found via the following link:
www.artemisresources.com.au/investors-relations/announcements
On completion of the Fundraise, Metal Tiger will be interested
in 7,142,857 Artemis Shares, representing approximately 0.6% of
Artemis's then enlarged issued share capital.
Artemis is an ASX-listed (ASX:ARV) natural resource exploration
and development company with a current focus on the Paterson and
Carlow Castle gold projects in Western Australia. Mark Potter,
Director and Chief Investment Officer of Metal Tiger, is
Non-Executive Chairman of Artemis. For the half year ended 31
December 2019, Artemis reported net assets of A$54,173,585 and a
net loss of A$8,051,108.
Michael McNeilly, Chief Executive Officer of Metal Tiger,
commented:
"We are pleased to make this investment in Artemis as it
progresses its aggressive exploration plans at Paterson and Carlow
Castle. Following Metal Tiger's successful investment in Greatland
Gold in 2019, after the discovery of Havieron at Paterson, the
Investment provides Metal Tiger with the opportunity to potentially
benefit from further new gold discoveries in the highly prospective
Paterson region of Western Australia. In addition, Artemis has a
pre-existing gold-copper-cobalt resource at Carlow Castle and the
Radio Hill processing plant, which has the potential to become a
standalone mining operation in the future."
This announcement contains inside information for the purposes
of the market abuse regulation (EU No. 596/2014) ("MAR").
For further information on the Company, visit:
www.metaltigerplc.com
Enquiries:
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 3494
James Dance Adviser)
Jack Botros
Paul Shackleton Arden Partners plc (Broker) Tel: +44 (0)20 7614 5900
Steve Douglas
Gordon Poole Camarco (Financial PR) Tel: +44 (0)20 3757 4980
James Crothers
Hugo Liddy
Notes to Editors:
Metal Tiger PLC is admitted to the AIM market of 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. Metal Tiger has two investment divisions: Equity
Investments and Project Investments.
Equity Investments invests in undervalued natural resource
companies. The majority of its investments are listed on AIM, the
TSX and the ASX, which includes its interest in Sandfire Resources
Limited (ASX: SFR). The Company also considers selective
opportunities to invest in private natural resource companies,
typically where there is an identifiable path to IPO. Through the
trading of equities and warrants, Metal Tiger seeks to generate
cash for investment for the Project Investments division.
Project Investments is focused on the development of its key
project interests in Botswana, where Metal Tiger has a growing
interest in the large and highly prospective Kalahari copper/silver
belt through its interest in Kalahari Metals Limited.
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/20200716005926/en/
CONTACT:
Metal Tiger plc
SOURCE: Metal Tiger plc
Copyright Business Wire 2020
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