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

Purchase of interest in Greatland Gold plc


Purchase of interest in Greatland Gold plc

3 December 2018

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

Purchase of interest in Greatland Gold plc

Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to announce that it has purchased, on market, 14,700,000 ordinary shares of 0.1 pence each in Greatland Gold plc (“Greatland Gold” or “Greatland”) (AIM:GGP) (“Greatland Shares”) at an average price of 1.72 pence per share.

Accordingly, following the purchase, Metal Tiger’s interest in Greatland is 14,700,000 Greatland Shares representing approximately 0.46% of Greatland’s issued share capital.

Greatland Gold is an AIM listed natural resource exploration and development company with a current focus on gold, copper and nickel exploration projects in Australia. For the year ended 30 June 2018, Greatland reported net assets of £4.3 million and a net loss of £1.9 million.

Michael McNeilly, Chief Executive Officer of Metal Tiger, commented:

“Metal Tiger is delighted to once again become a shareholder of Greatland Gold following the recent announcement of a world class gold discovery at Greatland’s Havieron licence in the Paterson region of Western Australia. We are highly encouraged by the indicative size of this new gold discovery at Havieron, given the exceptional drilling and geophysical results Greatland has announced to date.”

“Today’s announcement reflects Metal Tiger’s focus on acquiring minority equity investments in natural resource projects that demonstrate considerable upside potential. We are confident that through this strategy we can continue to add significant value to Metal Tiger’s Direct Equities portfolio over the coming months.”

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)

Tel: +44 (0)20 7099 0738

 

Richard Tulloch

Strand Hanson

Tel: +44 (0)20 7409 3494

James Dance

(Nominated Adviser)

Jack Botros

 

Nick Emerson

SI Capital

Tel: +44 (0)1483 413 500

(Broker)

 

Gordon Poole

Camarco

Tel: +44 (0)20 3757 4980

James Crothers

(Financial PR)

 

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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