Metal Tiger PLC Sandfire Resources shares received (8776Q)
23 Ottobre 2019 - 12:16PM
UK Regulatory
TIDMMTR
RNS Number : 8776Q
Metal Tiger PLC
23 October 2019
23 October 2019
Metal Tiger plc
("Metal Tiger" or the "Company")
Sandfire Resources shares received
Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed
investor in strategic natural resource opportunities, is pleased to
announce that it has today been issued with 6,296,990 new ordinary
shares in Sandfire Resources NL (ASX:SFR) ("Sandfire"),
representing approximately 3.5 per cent. of Sandfire's enlarged
issued share capital, in exchange for its entire shareholding in
MOD Resources Limited ("MOD").
Accordingly, Metal Tiger has no further interest in MOD but
retains an uncapped 2% Net Smelter Royalty over circa 8,000 km(2)
in the Kalahari Copper Belt (covering the area subject to the
historical Tshukudu joint venture with MOD) and a US$2m capped Net
Smelter Royalty over the T3 project.
Sandfire has declared a final dividend of A$0.16 per share,
which goes ex-div on 14 November 2019 and payment will be made on
29 November 2019. The Board of Metal Tiger intends to retain the
Company's entire interest in Sandfire shares, such that it is
eligible to receive the approximate A$1.0m payment that would be
due to Metal Tiger from this dividend.
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 (Nominated Tel +44 (0)20 7409
James Dance Adviser) 3494
Jack Botros
Nick Emerson SI Capital (Broker) Tel: +44 (0)1483
413 500
Gordon Poole Camarco (Financial PR) Tel: +44 (0)20 3757
James Crothers 4980
Monique Perks
Notes to Editors:
Metal Tiger plc is admitted to the AIM market of 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. Metal Tiger has two investment divisions: Direct Equities
and Direct Projects.
The Direct Equities Division invests in undervalued natural
resource companies. The majority of its investments are listed on
AIM, the TSX and the ASX, which includes its 3.5% interest in
Sandfire Resources NL (ASX: SFR). The Company also considers
selective opportunities to invest in private natural resource
companies, typically where there is an identifiable path to IPO.
Through the trading of equities and warrants, Metal Tiger seeks to
generate cash for investment in the Direct Projects Division.
The Direct 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 through its interest
in Kalahari Metals Limited. 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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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October 23, 2019 06:16 ET (10:16 GMT)
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