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Metal Tiger (LON:MTR)

Metal Tiger (LON:MTR)


Share Price
2.33 p
Change
-0.01701 (-0.72 %)
Market Cap
£31.49 m
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Metal Tiger RNS Release

Thai Minerals Management Master Plan


Thai Minerals Management Master Plan

31 July 2018

Metal Tiger plc ("Metal Tiger" or the "Company")

Thai Minerals Management Master Plan

Metal Tiger is pleased to announce that on 31 July 2018, the Thai Cabinet approved the 20-year mineral management strategy (2017-2036) and the 5-year mineral management master plan for 2017-2021 (the “Master Plan”) meaning that both the strategy and the Master Plan are effective immediately. Mining lease application areas and special prospecting licence application areas under the KEMCO project as well as the Thai JV all fall into the MDA classification and the approval of the Master Plan therefore removes a significant legislative hurdle to the progression of Metal Tiger’s Thai project and enables the Thai JV to formally progress all licence applications. The strategy and Master Plan aims to integrate Thailand’s management of mineral resources while ensuring that the mining industry will be environmentally friendly, with an elevated focus on the quality of life of people affected by the mining industry. In the approved strategy, four points of emphasis have been included:

  • the classification of mineral zone;
  • the formulation of mineral policy;
  • the development of a regulatory mechanism; and
  • the promotion of general public participation.

The Master Plan classifies areas and/or specific minerals that should be restricted or conserved and designates mineral deposit areas (MDAs) where mining will be permissible. Designation of the MDAs is based on the criteria that a deposit must be rich in mineralisation with high economic value, and that there must be available technology for effective mining with suitable measures for protection from environmental impact and protection of public health. Under the first 5-year Master Plan, in order to allow continuity of the mining industry, areas covered by mining leases, registered mining lease renewal applications, registered mining lease applications, prospecting licences and areas designated for aggregate mining are all classified as MDAs. Michael McNeilly, Chief Executive Officer of Metal Tiger plc commented: The 20-year mineral management strategy and the first 5-year mineral management master plan has been under consideration by the Government of Thailand for over a year, and this represents a major milestone and the removal of a major hurdle that has kept Metal Tiger’s mining projects in Thailand from progressing. We are delighted that the Thai mining and exploration licence applications are now in a position to progress towards granting.”

For further information on the Company, visit: www.metaltigerplc.com:

Michael McNeilly    

Chief Executive Officer

(Metal Tiger plc)

      Tel: +44 (0)20 7099 0738
Mark Potter

Chief Investment Officer

(Metal Tiger plc)

Tel: +44 (0)20 7099 0738

Stephen Allen
Bhavesh Patel

RFC Ambrian Ltd
(Nominated Adviser)

Tel: +44 (0)20 3440 6800
Charlie Cryer

RFC Ambrian Ltd
(Joint Broker)

Tel: +44 (0)20 3440 6800
Nick Emerson

 

SI Capital
(Joint Broker)

Tel: +44 (0)1483 413 500

Gordon Poole

James Crothers

Camarco
(Financial PR)

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.

Metal Tiger plc

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Newswire
October 01 2018
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