METAL TIGER PLC: Sandfire Resources Update
July 07 2021 - 2:51AM
UK Regulatory
TIDMMTR
Metal Tiger plc
("Metal Tiger" or the "Company")
Sandfire Resources Update
Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed
investor in natural resource opportunities, is pleased to note
Sandfire's announcement noting the granting of a Mining Licence by
the Government of Botswana for the Motheo Copper Mine. Metal Tiger
has a capped US$2m 2% net smelter royalty over production from the
Motheo Copper Mine. Metal Tiger also has a 2% uncapped net smelter
royalty over circa 8,000km(2) of Sandfire's licence holdings in the
Kalahari Copper Belt including PL190/2008 (excluding the Motheo
Copper Mine project area), which hosts the A4 deposit.
Highlights:
- Mining Licence for the Motheo Copper Mine granted by the
Government of Botswana.
- The grant of the Mining Licence represents the last major
permitting milestone required for full-scale construction of the
US$279m (A$364m) project to commence, with initial site works
already underway.
- Updated Mineral Resource for the satellite A4 deposit expected
to be finalised in the coming weeks, forming the cornerstone of the
strategy to rapidly expand production at the Motheo Production Hub
from 3.2Mtpa to 5.2Mtpa.
- Sandfire remains on-track to commence mining at Motheo in
early CY2022 and deliver first production in early 2023.
Metal Tiger is currently interested in 6,143,357 Sandfire shares
representing approximately 3.4% of Sandfire's issued share capital.
As announced on 31 July 2020, 2,842,667 of the Sandfire shares held
by the Company are subject to an equity derivative financing
arrangement with a global investment bank.
A link to Sandfire's announcement released today is set out
below:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02392932-6A1039854?access_token=83ff96335c2d45a094df02a206a39ff4
For further information on the Company, visit:
www.metaltigerplc.com
Enquiries:
Michael McNeilly (Chief Executive Officer) Tel: +44 (0)20 3287 5349
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
Rebecca Waterworth
Notes to Editors:
Metal Tiger PLC is admitted to the AIM market of the London
Stock Exchange AIM Market ("AIM") and the ASX Market of the
Australian Securities Exchange Market ("ASX") 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/20210706005881/en/
CONTACT:
Metal Tiger plc
SOURCE: Metal Tiger plc
Copyright Business Wire 2021
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