TIDMMTR 
 
 

Metal Tiger plc

 

("Metal Tiger" or the "Company")

 

Exercise of MOD Options

 

Metal Tiger plc (LON:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, announces that it has been issued 35,848,398 fully paid ordinary shares in MOD Resources Limited ("MOD"), for nil consideration, following the exercise of options.

 

As announced on 25 June 2019, as part of the recommended offer for MOD by Sandfire Resources NL, Metal Tiger committed to exercise sufficient MOD options such that its shareholding in MOD for the purposes of voting on the scheme of arrangement is 19.9% at the record date.

 

Following the exercise, Metal Tiger is interested in 67,686,791 MOD shares representing 19.9% of MOD's issued share capital.

 

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    Strand Hanson Limited       Tel +44 (0)20 7409 3494 
James Dance        (Nominated Adviser) 
Jack Botros 
Nick Emerson       SI Capital (Broker)         Tel: +44 (0)1483 413 500 
Gordon Poole       Camarco (Financial PR)      Tel: +44 (0)20 3757 4980 
James Crothers 
Monique Perks 
 
 

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, which includes its 10.48% interest in MOD Resources Limited ("MOD"). 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 JV with MOD and its interest in Kalahari Metals Limited, 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.

 
 
 

View source version on businesswire.com: https://www.businesswire.com/news/home/20190916005381/en/

 
This information is provided by Business Wire 
 
 

(END) Dow Jones Newswires

September 16, 2019 05:41 ET (09:41 GMT)

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