METAL TIGER PLC: Investment in Southern Gold
November 16 2022 - 11:29AM
UK Regulatory
TIDMMTR
16 November 2022
Metal Tiger plc
("Metal Tiger" or the "Company")
Investment in Southern Gold
Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed
investor in natural resources opportunities, is pleased to announce
that it has participated on a pro-rata basis in Southern Gold
Limited's (ASX:SAU) ("Southern Gold") A$2 million placement at
A$0.023 per share. Metal Tiger has subscribed for circa 16,608,696
new shares in Southern Gold for a total consideration of circa
A$382,000. Metal Tiger's investment is subject to shareholder
approval at a General Meeting expected to be convened early January
2023.
Following completion of the placing Metal Tiger will be
interested in 57,402,696 shares in Southern Gold representing
approximately 19.1% of Southern Gold's enlarged issued share
capital.
Southern Gold is a gold explorer listed on the Australian
Securities Exchange. Southern Gold owns 100% of a substantial
portfolio of high-grade gold projects in South Korea that are
largely greenfield epithermal gold-silver targets in the south-west
of the country. Backed by a first-class technical team, Southern
Gold's aim is to find tier one epithermal gold-silver deposits in a
jurisdiction that has seen very little modern exploration.
For the half-year ended 31 December 2021 Southern Gold reported
a net loss of A$4,138,708 and net assets of A$18,909,866.
Michael McNeilly, Metal Tiger's Chief Executive Officer, is a
non-executive director of Southern Gold.
A link to Southern Gold's announcement including details of the
placement, released today, is set out below:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02598706-2A1413987?access_token=83ff96335c2d45a094df02a206a39ff4
For further information on the Company, visit
www.metaltigerplc.com:
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
Robert Collins (Nominated Adviser)
Steve Douglas Arden Partners plc (Broker) Tel: +44 (0)20 7614 5900
Simon Johnson
Gordon Poole Camarco (Financial PR) Tel: +44 (0)20 3757 4980
Elfie Kent
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.
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.
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/20221116005817/en/
CONTACT:
Metal Tiger plc
SOURCE: Metal Tiger plc
Copyright Business Wire 2022
(END) Dow Jones Newswires
November 16, 2022 11:29 ET (16:29 GMT)
Metal Tiger (LSE:MTR)
Historical Stock Chart
From May 2024 to Jun 2024
Metal Tiger (LSE:MTR)
Historical Stock Chart
From Jun 2023 to Jun 2024