METAL TIGER PLC: Investment in Antipa Minerals
April 21 2021 - 6:35AM
UK Regulatory
TIDMMTR
21 April 2021
Metal Tiger plc
("Metal Tiger" or the "Company")
Investment in Antipa Minerals
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 7,142,860 new ordinary shares in Antipa
Minerals Limited (ASX:AZY) ("Antipa") at an issue price of A$0.042
per share for a total consideration of approximately A$300,000
(c.GBP166,176).
The investment forms part of an institutional placement by
Antipa of approximately A$22million and a Share Purchase Plan of up
to A$3 million (the "SPP"), resulting in a total capital raise of
up to A$25 million. The placement was met with strong demand from
international and domestic institutions together with sophisticated
and professional investors. Newcrest Limited, Antipa's largest
shareholder, committed to approximately A$2.4 million to maintain
its pro-rata shareholding at 9.9% and IGO Limited who subscribed
for approximately A$1.2 million to maintain its shareholding at
4.9%.
The use of the proceeds from the capital raising will be used to
maintain Antipa's 35% interest in the Citadel JV with Rio Tinto and
to accelerate exploration and appraisal activities at the Minyari
Dome Project (100% owned), including follow up drilling and
undertaking project development studies. The Citadel JV Project
currently hosts a combined Mineral Resource of 63.8Mt at 0.8 g/t
gold, 0.2% copper and 0.6 g/t silver for 1.6Moz gold, 127kt copper
and 1.2Moz of silver.
Antipa is an ASX-listed mineral exploration company focused on
exploring the Paterson Province of Western Australia which hosts
several world-class mineral deposits, including the Telfer
gold-copper-silver mine, the Winu copper deposit and the Havieron
gold discovery. Antipa has significant farm-in agreements with Rio
Tinto, Newcrest Mining and IGO limited and has consolidated a
majority of exploration tenure in eastern Paterson.
Following completion of the fundraise, Metal Tiger will hold
7,142,860 shares in Antipa which will represent approximated 0.23%
of the enlarged share capital following the fundraise (excluding
the SPP).
For the interim six month period ended 30 December 2020, Antipa
reported net assets of A$36,857,788 and a net loss of
A$2,536,403.
Copies of Antipa's press releases can be found at the links
below:
Successful $25M Institutional Placement and SPP:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02365517-6A1029173?access_token=83ff96335c2d45a094df02a206a39ff4
Proposed issue of Securities -- AZY:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02365519-6A1029187?access_token=83ff96335c2d45a094df02a206a39ff4
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)
James Dance Strand Hanson Limited Tel +44 (0)20 7409 3494
Georgia Langoulant (Nominated Adviser)
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/20210421005517/en/
CONTACT:
Metal Tiger plc
SOURCE: Metal Tiger plc
Copyright Business Wire 2021
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