Update on Minerals Management Master Plan
8 December 2017
Metal Tiger Plc
("Metal Tiger" or the "Company")
Update on Minerals Management Master Plan
Metal Tiger plc (LON:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to announce further to its announcement on 18 September 2017 that the National Minerals Management Committee (the “NMC”) yesterday approved the first Minerals Management Master Plan (the “Master Plan”).
This Master Plan will now be presented to the Thai Cabinet (the “Cabinet”) for consideration. Should the NMC approved version be accepted by the Cabinet, the Thai JV’s Mining Licence Applications over the previously operational Song Toh and Boh Yai mines will be designated as mineral deposit areas for mining (“MDAs”). The Cabinet still has scope to make amendments to the Master Plan, but the Company believe that material amendments that would impact MDA status of its licence areas are unlikely. The team in Thailand anticipate that Cabinet will consider the Master Plan by the end of January 2018.
Furthermore, the Special Prospecting Licence Applications held by Metal Tiger Exploration surrounding the mines and elsewhere in the country will also be designated as MDAs since they were lodged prior to 29 August 2017, the cutoff date nominated for this purpose in the Master Plan.
Michael McNeilly, Chief Executive Officer of Metal Tiger plc commented:
“As shareholders and potential investors will note from the announcement on 18 September 2017, the Master Plan and MDA status, in particular, was one of the key reasons for delaying the planned IPO. Whilst Cabinet sign-off is still required, the fact that the NMC has approved the Master Plan represents a significant step in the right direction for Metal Tiger’s Thai interests.
I would like to extend my thanks to the team in Thailand, our Thai legal counsel and our JV partner for closely following the development of the Master plan and for keeping the Board of Metal Tiger informed throughout the development of this key document. Should the Cabinet approve the Master Plan without any material amendments then the Thai JV will have cleared a major hurdle in its path to being able to progress the permitting process as relating to the historical Song Toh and Boh Yai mines.“
For further information on the Company, visit: www.metaltigerplc.com :
|Michael McNeilly (Chief Executive Officer)||Tel: +44(0)20 7099 0738|
|Keith Springall (Finance Director & Company Secretary)||Tel: +44 (0)20 7099 0738|
|Stephen Allen or Bhavesh Patel||RFC Ambrian Ltd (Nominated Adviser)||Tel +44 (0)20 3440 6800|
|Jonathan Williams|| RFC Ambrian Ltd |
|Tel +44 (0)20 3440 6800|
|Nick Emerson|| SI Capital |
|Tel: +44 (0)1483 413 500|
| Gordon Poole |
| Camarco |
|Tel: +44 (0)20 3757 4980|
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 precious and strategic metals focus.
The Company’s target is to deliver a very high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector timed to coincide, where possible, with a cyclical recovery in the exploration and mining markets. The Company’s key strategic objective is to ensure the distribution to shareholders of major returns achieved from disposals.
Metal Tiger’s Metal Projects Division is focused on the development of its key project interests in Botswana, Spain and Thailand. In Botswana, Metal Tiger 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 silver/lead/zinc mines as well as licences, applications and critical historical data covering antimony, copper, gold, silver, lead and zinc opportunities.
The Company has access to a diverse pipeline of new opportunities focused on the natural resource sector including physical resource projects, new natural resource centred technologies and resource sector related fintech opportunities. Pipeline projects deemed commercially viable may be undertaken by Metal Tiger or by an AIM or NEX Exchange (formerly ISDX) partner with whom the Company is engaged.
LEI number: 213800K1IN6M1VCVPA93
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Metal Tiger plc