Metal Tiger (LON:MTR)

Metal Tiger (LON:MTR)


Share Price
1.25 p
Change
-0.025 (-1.96 %)
Market Cap
£16.87 m
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Metal Tiger RNS Release

Exercise of Warrants in Thor Mining


Exercise of Warrants in Thor Mining

28 November 2018

Metal Tiger Plc
(“Metal Tiger” or the “Company”)

Exercise of Warrants in Thor Mining

Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to announce that it has exercised 7,500,000 warrants over ordinary shares of 0.01 pence each (“Thor Shares”) in Thor Mining plc (“Thor Mining”) at a price of 1.2 pence per warrant, representing a gross value of £90,000.

Accordingly, Metal Tiger will be issued with 7,500,000 new ordinary shares in Thor Mining on the admission of such shares to trading on AIM (“Admission”).

Following Admission, Metal Tiger will be interested in 80,100,000 Thor Shares, representing approximately 11.7% of Thor Mining’s then issued share capital.

Thor Mining is an AIM and ASX listed exploration and development natural resources company with interests in tungsten, molybdenum and copper projects in Australia and the USA. For the year ended 30 June 2018, Thor Mining reported net assets of £11.5 million and a net loss of £1.2 million.

-ENDS-

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

Michael McNeilly   (Chief Executive Officer)   Tel: +44 (0)20 7099 0738
Mark Potter (Chief Investment Officer)
 
Richard Tulloch

James Dance

Jack Botros

Strand Hanson Limited (Nominated Adviser) Tel +44 (0)20 7409 3494
 
Nick Emerson SI Capital (Broker) Tel: +44 (0)1483 413 500
 
Gordon Poole

James Crothers

Monique Perks

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 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. The Company’s key strategic objective is to ensure the distribution to shareholders of major returns achieved from disposals. Metal Tiger has two investment divisions, Direct Equities and Direct Projects.

The Direct Equities division invests in undervalued natural resource companies listed on AIM, the ASX and the TSX. Through the trading of equities and warrants, Metal Tiger seeks to generate cash for investment in the Direct Projects division.

Metal Tiger’s Direct Projects division is focused on the development of its key project interests in Botswana, Spain and Thailand. In Botswana, Metal Tiger, through its 12.5% interest in MOD Resources Limited and related JV, 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 lead/zinc/silver mines as well as licences, applications and critical historical data covering antimony, copper, gold, lead, zinc and silver opportunities.

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.

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