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Totally_Wired 22 Aug 2019

RNS 22 August 2019 Metal Tiger plc MOD Resources - Progress Update on the Proposed Sandfire Transaction Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to note the announcements made by MOD Resources Ltd (“MOD”) (ASX/LSE: MOD) today (the “MOD Announcements”). The MOD Announcements, links to which are set out below, note that MOD has published a Scheme Booklet and Notice of General Meeting to be held on 1 October 2019, in relation to the proposal from Sandfire Resources NL (“Sandfire”) (ASX:SFR) to acquire 100% of MOD shares by way of a Scheme of Arrangement. The full text of each announcement can be read using the following links: Scheme Booklet: [link] Notice of General Meeting: [link] [link]

Totally_Wired 21 Aug 2019

RNS 21 August 2019 Metal Tiger plc MOD Resources - Progress Update on the Proposed Sandfire Transaction Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to note the announcement made by MOD Resources Ltd (“MOD”) (ASX/LSE: MOD) today (the “MOD Announcement”), which provides an update on the proposal from Sandfire Resources NL (“Sandfire”) (ASX:SFR) to acquire 100% of MOD shares by way of a Scheme of Arrangement. Please see link to the MOD Announcement below: [link] [link]

Totally_Wired 01 Aug 2019

RNS 1 August 2019 Metal Tiger plc Kalahari Metals Limited – Exploration Update Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to provide an exploration update for Kalahari Metals Limited (“KML”), in which Metal Tiger currently holds 59.81% of the issued share capital. As announced on 31 May 2019, Metal Tiger invested a further US$1.1m in KML in order to fund KML’s first round drilling at both the Okavango Copper Project (“OCP”) and Ngami Copper Project (“NCP”). Following approval of the Environmental Management Plan (“EMP”) for the OCP by the Botswana Department of Environmental Affairs (“DEA”), drilling rigs are able to mobilise to priority targets within the OCP licence area following completion of the current diamond drill programme, which is in progress at the NCP (as announced on 23 May 2019). With regard to Kitlanya West (“KIT-W”) and Kitlanya East (“KIT-E”), an airborne electromagnetic (“AEM”) geophysical survey is currently being flown over the project areas. The airborne work is nearing completion with the processed data and interpretation expected in September 2019. A soil geochemical sampling programme is currently underway at KIT-W, which consists of a number of focussed traverses over interpreted anticline targets, with approximately 1,200 of a planned 3,300 samples having been collected to date. The samples will be analysed using both X-ray fluorescence (XRF) spectroscopy and low concentration TerraleachTM partial digest methods, in order to detect more subtle anomalies associated with mineralisation under thicker Kalahari Group cover. KML has also submitted EMPs to the DEA for both the KIT-W and KIT-E project areas, when approved they will allow work to progress to drilling where warranted, subject to funding. Michael McNeilly, Chief Executive Officer of Metal Tiger plc, commented: “We are delighted to provide an update on KML’s exploration progress in Botswana.The authorisation of the environmental impact statement for the Okavango Copper Project will allow the drill rigs to mobilise over from the Ngami Copper Project upon completion of the current diamond drilling programme, which is progressing well.The concurrent airborne geophysics and soil sampling programmes within KML’s Kitlanya West and Kitlanya East project areas should help build the pipeline of copper targets further, with permitting underway to allow follow-on drill testing of prospective new copper targets within these areas in due course.” Airborne Electromagnetic Survey Details The AEM geophysics programme which includes both detailed and regional scale survey work is being flown by experienced South Africa based contractors, New Resolution Geophysics, which is utilising its XCiteTM system to target conductive geological marker units in the lower D’Kar Formation above the potentially mineralised contact with the underlying Ngwako Pan Formation. The detailed survey is being flown at 200m line spacing over the northern priority target in KIT-E and has been designed to map conductive marker units in the lower D’Kar Formation. Results will be used to site drill holes into this prospective target situated 6km south of the MOD Resources’ T3 copper deposit. The regional survey flown at 2km line spacing over the KIT-W project area has been designed to assist with mapping of Kalahari Group cover thickness and interpretation of anticline structures identified in magnetic data. Results will be combined with the current soil geochemical sampling programme results and historical airborne geophysical data to prioritise potentially mineralised fold hinge targets. **Project Background-Via link below: ** [link]

holland44 25 Jun 2019

Proactive Investors today Not a great price, given T3’s potential, but we could have been waiting forever for MOD to get its mine finances together. This way, We’ve realised a good profit and still have plenty of potential elsewhere in MTR’s portfolio. Other good points are: MTR didn’t sell just for cash. The SFR stock gives us a continuing stake in T3 and the rest of the MOD land, as well as access to the rest of SFR"s assets. 4% future dividend from SFR, worth about £1 million p.a. MTR retains 2% of future T3 profits, with no mine funding liability Our MOD options are now realised and have been converted into real, tradeable SFR stock. Our SFR holding alone is now worth more than MTR’s entire current market cap, valuing Kalahari and our Thai lithium prospects at zero - any discoveries there are all gain. SFR is a proper liquid stock, so it could easily be cashed if MTR sees a good opportunity. This wasn’t the case with our MOD stock and options.

Totally_Wired 25 Jun 2019

Proactive Investors today Metal Tiger set to benefit from Sandfire’s acquisition of MOD Resources 08:42 25 Jun 2019 Metal Tiger has consistently been able to realise value from its partnership with MOD Metal Tiger Plc (LON:MTR) has said it is “pleased to note” the recommended offer from Sandfire Resources Ltd (ASX:SFR) for MOD Resources (ASX:MOD)(LON:MOD). Metal Tiger has had a long-standing relationship with MOD exploring for copper in Botswana. It currently holds a substantial stake in MOD, having converted its stake in a joint venture directly into shares. All told, Metal Tiger’s interests in MOD and assets related to the joint venture that are set to be realised by the Sandfire offer have a combined total value of £23.2mln. That’s a nice return on the £7.7mln Metal Tiger has invested in the MOD joint venture over the years. The Sandfire offer for MOD amounts to 0.0664 shares for every MOD share, which values MOD at A$0.45 per share. Metal Tiger will take its consideration in Sandfire shares, and will accordingly end up holding around 3.5% of Sandfire. [link]

Totally_Wired 25 Jun 2019

RNS 25 June 2019 Metal Tiger plc MOD Resources - Offer from Sandfire Resources Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to note the announcement made by MOD Resources Ltd (“MOD”) (ASX/LSE: MOD) today (the “MOD Announcement”), which sets out the terms of a conditional recommended offer from Sandfire Resources NL (“Sandfire”) (ASX: SFR) for the outstanding shares of MOD (the “Offer”). The Offer will be made on a share-for-share (scrip) basis (with a mix and match facility to elect for up to 25% cash) with an exchange ratio of 0.0664 new Sandfire ordinary shares (“Sandfire Shares”) for every MOD ordinary share (“MOD Shares”) held at the record time, representing an effective offer price of A$0.45 per share based on the five day VWAP of Sandfire Shares (the “Offer Price”). Highlights: · MOD and Sandfire have executed a binding Scheme Implementation Deed in relation to a conditional recommended share-for-share Offer for MOD from ASX listed Sandfire, at the Offer Price of A$0.45 per share, to be affected by way of a scheme of arrangement in Australia; · 0.0664 Sandfire Shares will be offered in exchange for every MOD Share held, with MOD shareholders also being offered up to 25% of the consideration in cash, as part of a mix and match facility; · Offer Price represents a premium of approximately 45% to the closing price per MOD Share on 24 June 2019 (being the last practicable business day prior to this announcement) and values MOD’s current issued share capital at A$137m (approximately £74m); · Pursuant to the Offer, MOD will exercise its option over Metal Tiger’s 30% interest in Tshukudu Exploration, with an exercise price of A$10.045m (approximately £5.45m) due to Metal Tiger, to be settled in MOD Shares at the Offer Price, which, subject to MOD shareholder approval, will be issued prior to the Scheme becoming effective and acquired by Sandfire pursuant to the Offer (if not approved by MOD shareholders, the amount due will be paid in cash); · Metal Tiger will retain its right to a 2% net smelter royalty over the Tshukudu exploration properties (which cover approximately 8,000km2 of prospective land in the Kalahari Copper Belt) and which will come into effect following MOD exercising its Tshukudu Option; · Metal Tiger’s aggregate interest in MOD (including the consideration for its 30% interest in Tshukudu, its MOD Shares and its MOD Options) is valued at A$42.7m (approximately £23.2m) at the Offer Price, compared to an aggregate investment of £7.7m in MOD (including JV expenses and net MOD share purchases since inception); · Subject to there being no superior proposal, Metal Tiger has committed to vote in favour of the Offer and to elect to receive all Sandfire Shares as consideration for its interests in MOD, which, should the Offer complete, is expected to result in Metal Tiger owning approximately 3.5% of Sandfire’s then enlarged share capital; and · Subject to the Offer completing before 15 November 2019, Sandfire has agreed to use reasonable endeavours to set a record date for the payment of its full year dividend following completion of the Offer, thereby allowing MOD shareholders to benefit from such a dividend. The full announcement made by MOD today (with the Scheme Implementation Deed appended in full) can be seen using the following link: [link] Michael McNeilly, Chief Executive Officer of Metal Tiger, commented: "We are delighted by today’s news which could be transformational for the Kalahari Copper Belt as well as MTR. MTR has invested a total of approximately £7.7m which means that, should the Offer complete, MTR will have generated a total return on investment cost of 3.0x. This is of course excluding the value of our capped US$2m net smelter royalty over T3, as well as the 2% uncapped net smelter royalty over the Tshukudu Exploration properties. We believe that Sandfire has the market position and means to progress T3 and its surrounding targets, thereby enabling the release of long-term value in these projects. "Metal Tiger has long believed that the Kalahari Copper Belt has the potential to deliver substantial returns on investment and see significant long-term potential for copper production in the area. Furthermore, we are delighted to continue to deliver on our strategy of investing in early stage assets and realising value from our investments. “Along with our other investments in the area, we look forward to becoming a shareholder in Sandfire, where we see significant potential for value accretion in the Sandfire Share price, and to potentially receiving meaningful future cash flows from our royalty interest over the Tshukudu exploration properties.” The Offer will be made by way of a scheme of arrangement under s411 of the Australian Corporations Act 2001 (Cth) (the “Scheme”), which is expected to be held in October 2019. The directors of MOD have unanimously recommended that MOD shareholders vote in favour of the Scheme (and they have confirmed their present intention to vote in favour of the Scheme in respect of the approximate 7.02% of MOD Shares owned by them) in the absence of a superior proposal (as is defined in the Scheme Implementation Deed) and subject to an Independent Expert concluding (and continuing to conclude) that the Scheme is in the best interests of MOD shareholders. The Offer will be also conditional on, inter alia, MOD shareholders voting on the terms of the Offer at a court meeting and general meeting (both to be convened when the Scheme Document is released, which is expected to be by the end of August 2019), the resolutions being passed at a MOD Extraordinary General Meeting (the “MOD EGM”), to be convened in due course, in order to allow new MOD Shares to be issued to satisfy the exercise of the Tshukudu Option (including a resolution to allow Metal Tiger to increase its shareholding in MOD to above the 20% limit for listed companies in Australia) and receipt of the necessary change of control and regulatory approvals from the Botswanan Government. The Scheme Implementation Deed contains standard Australian provisions, such as “no shop”, “no talk”, “notification” and “matching rights” provisions, with a break fee being payable in certain circumstances. MOD has agreed it will not solicit any competing proposal or participate in any discussions or negotiations in relation to any competing proposal (unless failure to do so would involve a breach of the fiduciary duties of its Directors). Metal Tiger currently holds 31,838,393 MOD Shares, representing approximately 10.48% of MOD’s issued share capital and 40,673,566 unquoted options with a nil exercise price (the “MOD Options”). Any unexercised MOD Options will, as part of the Scheme, be exercised in full and acquired by Sandfire at the Offer Price pursuant to the terms of the Scheme. As announced on 18 July 2018, Metal Tiger entered into an agreement with MOD to sell its 30% interest in the T3 Project (the “T3 Sale Agreement”) along with a side agreement with MOD in respect of the new MOD shares issued as consideration (the “Share and Voting Deed”), pursuant to which Metal Tiger committed, inter alia, to support MOD board recommendations, including a MOD board endorsed change of control. Metal Tiger has entered into an amendment to the Share and Voting Deed (the “Share and Voting Deed Amendment”), whereby this commitment has been removed and Metal Tiger is able to vote its MOD Shares as the Board of Metal Tiger wishes. The Share and Voting Deed Amendment also removes all other restrictions in terms of Metal Tiger’s holding in MOD that were originally in the deed, save for, if the Offer is terminated, Metal Tiger is released from its voting obligations with Sandfire or the exclusivity period in the Scheme Implementation Deed expires, then for a period of 12 months Metal Tiger will be subject to an amended version of the clause relating to disposal of its MOD Shares, whereby Metal Tiger would be prevented from selling its holding to certain restricted investors, including private equity and competitors to MOD. The Board of Metal Tiger is in favour of the Offer and sees significant value in Sandfire Shares at the exchange ratio being offered, therefore it has entered into a support agreement with Sandfire in relation to the Offer (the “Support Agreement”), whereby it has committed to vote in favour of the Offer in respect of its entire beneficial holding of MOD Shares and committed to elect to receive Sandfire Shares (i.e. not elect to receive cash pursuant to the mix and match facility). In addition, pursuant to the Support Agreement, Metal Tiger has committed to exercise sufficient MOD Options such that its shareholding in MOD for the purposes of voting on the Scheme is 19.9% at the record date. MOD to exercise its option over Metal Tiger’s 30% interest in the Tshukudu JV Metal Tiger and MOD have entered into an amendment to the T3 Sale Agreement (the “T3 Sale Agreement Amendment”), which amends certain terms of the agreement and pursuant to which MOD has committed to exercise its option over Metal Tiger’s 30% interest in Metal Capital Exploration Limited (“Metal Capital”) (the “Tshukudu Option”), which wholly owns Tshukudu Exploration (Pty) Ltd (“Tshukudu Exploration”) in Botswana, with a calculated value of A$10.045m (approximately £5.45m) (the “Tshukudu Consideration”). Pursuant to the Scheme Implementation Deed, MOD has committed to exercise the Tshukudu Option prior to the record date for the Scheme. Pursuant to the terms of the T3 Sale Agreement Amendment, Metal Tiger’s 12.5% maximum shareholding restriction has been removed and MOD and Metal Tiger have agreed that Metal Tiger will be issued 22,322,222 MOD Shares (the “Tshukudu Consideration Shares”), in full settlement of the amount due from MOD to acquire its 30% interest in Tshukudu Exploration. The ability for MOD to pay Metal Tiger by way of the Tshukudu Consideration Shares will fall away if the Scheme is not implemented within six months. The issue of the Tshukudu Consideration Shares will be subject to a separate vote of MOD shareholders at the MOD EGM, which MOD has committed to convene in due course. The resolutions to be voted on by MOD shareholders at the MOD EGM will include a vote on whether Metal Tiger’s shareholding in MOD can increase to over the 20% prescribed shareholding limit for listed companies in Australia. Should the resolutions at the MOD EGM not be passed, the Tshukudu Consideration would be settled in cash, which is in-line with the original agreement. Subject to obtaining MOD shareholder approval for them to be issued, the Tshukudu Consideration Shares would be acquired by Sandfire at the Offer Price pursuant to the terms of the Scheme. MOD and Metal Tiger have also entered into an addendum to the JV Agreement in respect of Tshukudu, whereby MOD has agreed to fund Tshukudu through to completion of the Offer. However, should the Offer not complete, Metal Tiger will be required to contribute its pro rata share of costs between now and the date that the Scheme Implementation Deed is terminated, in order to avoid any dilution to Metal Tiger’s interest in Metal Capital. In addition, if the Tshukudu Option is exercised and the Offer does not complete for any reason, the T3 Sale Agreement Amendment contains provisions whereby the exercise would be unwound and each party would revert to its current state with respect to the Tshukudu JV. The terms of the T3 Sale Agreement remain unchanged in respect of Metal Tiger’s 2% net smelter royalty over the Tshukudu exploration properties, which will come into effect on exercise of the Tshukudu Option. Metal Tiger’s election to receive all Sandfire Shares Metal Tiger has committed to elect to receive Sandfire Shares (and not to elect to receive cash pursuant to the mix and match facility) in respect of its holding of MOD Shares at the record time for the Scheme, the balance of the MOD Options held and the Tshukudu Consideration (subject to the relevant resolutions being passed at the MOD EGM). Accordingly, should the Offer be successful and the resolutions are passed at the MOD EGM, Metal Tiger is expected to receive Sandfire Shares with an aggregate value of A$42.7m (approximately £23.2m) at the Offer Price, which would represent approximately 3.5% of Sandfire’s then enlarged share capital. Sandfire is a Tier 1, high-grade, Australian copper miner, with a market capitalisation of approximately A$1.1bn as at 24 June 2019 (further information on Sandfire is set out below). Should the Offer be successful, the Board of Metal Tiger believes that its resultant shareholding in Sandfire’s enlarged share capital will bring the following benefits: · the enlarged Sandfire Group will have a stronger financial position and the merger is expected to facilitate the accelerated development of the T3 Project and the exploration potential of MOD’s extensive land interests, where Metal Tiger will retain a 2% net smelter royalty over any future production from the Tshukudu exploration projects; · Metal Tiger would maintain exposure to the value created to date in the development of the T3 Project towards commercial production. It is expected that the enlarged Sandfire Group would be in a better position to raise the requisite funding to finalise the development of the T3 Project, thereby reducing the financing risk associated with the project; · The enlarged Sandfire Group will have a more diverse asset base than MOD and Metal Tiger will gain exposure to the potential for substantial value creation from Sandfire’s high grade copper development and exploration projects, both in Australia and overseas; · Sandfire has historically paid dividends to its shareholders and, whilst there can be no guarantee this will continue in the future, should the Offer be successful, this is expected to represent a new source of income for Metal Tiger. In addition, provided the Offer completes before 15 November 2019, Sandfire has agreed to use reasonable endeavours to set a record date for the payment of its full year dividend following completion of the Offer, thereby allowing MOD shareholders to benefit from this dividend; and · Sandfire Shares are more liquid than MOD Shares (the average daily value traded over the last 90 days was A$5.4m for Sandfire and A$0.2m for MOD) and the combined group is expected to have increased media and broking coverage. [link]

Totally_Wired 05 Jun 2019

RNS Metal Tiger plc Posting of Annual Report and Notice of AGM Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, announces that it has today posted its Annual Report and Accounts for the year ended 31 December 2018 to shareholders, together with the notice of Annual General Meeting (“AGM”). Further to the Company’s announcement of 31 May 2019, the Company confirms that its AGM will be held on Thursday 27 June 2019 (revised date) at the Oriental Club, Stratford House, Stratford Place, London WC1 1ES at 10.00am. [link]

Totally_Wired 31 May 2019

RNS Audited results for the year ended 31 December 2018 and Notice of Annual General Meeting Metal Tiger plc (LON: MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to announce its audited results for the year ended 31 December 2018. Highlights: Sale of the Group’s 30 per cent. interest in the T3 Copper Project in Botswana to MOD Resources Limited (“MOD”) for shares, options and royalty interests amounting to £16.8million, generating a profit of £12.5 million. Increased interest in the Kalahari Copper Belt through a £859,000 investment into Kalahari Metals Limited (“KML”) in exchange for a 34 per cent. interest in KML, with an option to increase its interest to 50 per cent. for a further US$500,000 which was exercised post the year end. In August 2018, successfully raised £6.1million, including £2.6million from the Sprott Group of Companies. Significant progress achieved in our joint ventures with our partners, MOD and KML, through exploration workflows around the Kalahari Copper Belt, leading to the identification of multiple potential high-grade exploration targets. Thai Government’s Minerals Management Master Plan completed in December 2018, giving clarity for forward planning for the Group’s interests in the Boh Yai lead-zinc-silver mine. Continued investment across both Direct Projects and Direct Equites, creating a balanced portfolio of opportunities with varied exposure to several strong management teams and commodity classes, with the potential for significant returns. The Group recorded a loss for 2018 of approximately £4.0million before tax despite the recorded gain on the sale of its interest in T3, partially due to the decline in the MOD share price between the recorded gain and the financial year end. Net asset value of the Company increased to £18,951,000 (2017: £15,443,000) equating to 1.40p per share on a fully diluted basis (2017: 1.33p per share). More via link: [link]

Totally_Wired 23 May 2019

RNS Metal Tiger’s Kalahari Metals To Start Ngami Copper Drilling In June from Alliance News | 23rd May 2019 10:47 Natural resources-focused investor Metal Tiger PLC said Thursday that Kalahari Metals Ltd will be able next month to begin diamond drilling at its Ngami copper project in Botswana. Metal Tiger currently holds a a 50% interest in Kalahari Metals. The planned start of drilling follows the approval of the environmental management plan for the project by the Botswanan Department of Environmental Affairs, as well as the gazetting of the plan. A drilling contract has been awarded to mining services firm OreZone Drilling, with mobilisation scheduled for the first week of June. The first phase of drilling has an initial 2,100 metres planned. It will test priority fold hinge targets at Ngami. Following this phase, the rig will be moved to Kalahari’s Okavango copper project, subject to approval of the environmental plan. “With phase 1 drilling to commence in early June on three initial targets constituting prospective structural and geochemical anomalies, we are looking forward to moving the project up the value curve,” said Metal Tiger Chief Executive Officer Michael McNeilly. “Intersecting the mineralised contact in these early stage exploration holes will provide support for the target generation methodology, which we believe will justify a more aggressive follow-on drill programme to fully evaluate the potential of each of the targets,” McNeilly added. Shares in Metal Tiger were up 1.1% at 1.16 pence on Thursday. [link]

Totally_Wired 09 May 2019

RNS 09 May 2019 Metal Tiger plc Appointment of joint broker Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, announces the appointment of Arden Partners plc as joint broker to the Company with immediate effect. [link]

Totally_Wired 07 May 2019

RNS 07 May 2019, 09:23Source - BUS Metal Tiger plc Botswana Copper/Silver Project – T3 Project & Regional Exploration Programme Plan Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to provide an update on planned exploration work for the licence areas held in joint venture (“JV”) with MOD Resources Limited (“MOD”) (30% Metal Tiger: 70% MOD) and for the 100% MOD held T3 Copper Project (“T3”), in the Kalahari Copper Belt, Botswana. The planned work programmes are part of a proposed wider growth strategy to add substantial value by systematically building mineral resources in potential T3 satellite deposits, with the aim of building a pipeline of satellite mines to leverage planned T3 infrastructure and provide increased and supplementary production throughput to the planned T3 Processing Plant. MOD and their advisers continue to advance a range of funding options towards a decision to mine T3, with interested parties. Planned high priority work targets include: T20 Exploration Project (JV held), staged reverse circulation (“RC”) drilling and diamond core (“DD”) drilling at T23 Dome, 100km west of T3. Follow-up drilling, nine RC and four DD holes, along 4km of T23 Dome, commencing early May 2019; T3 Expansion Project (JV held) A4 Prospect, on 5km long A4 Dome, located 8km from T3. Staged drilling, six RC and one DD holes, planned to build out from hole MO-A4-003D, which intersected 52m @ 1.5% Cu & 14g/t Ag from 232m, including 15.5m @ 2.9% Cu & 42g/t Ag from 269m (announced on 6 August 2018), with the aim of preliminary JORC Resource definition in second half of 2019. Numerous potential drilling targets identified within 25km radius of planned T3 Open-Pit Processing Plant, from geophysical and geochemical survey anomalies; and T3 Copper Project (100% MOD held) Resource drilling for T3 Underground Project (below planned open-pit). Initial 16 DD holes, followed by further infill drilling, planned for JORC Resource definition, with work expected to commence early June 2019. Further information on the planned work by target is detailed below. Michael McNeilly, Chief Executive Officer of Metal Tiger, commented: “We are pleased to report the JV strategy to seek to add further value at T3 and our wider holdings in the Kalahari Copper Belt in Botswana. It is anticipated that this will be achieved through the planned exploration work as we seek to discover new copper deposits as well as through the delineation of additional JORC Resources from known prospects which offer the potential to provide throughput to the planned T3 Open-Pit Processing Plant. We believe that further resource definition around the T3 project, as per today’s announced work programme, is an easy and low-risk opportunity to increase the value of Metal Tiger’s portfolio of assets in the Kalahari Copper Belt.” This announcement coincides with an update released today by MOD which can be viewed through the following link: [link] More via link below: when it arrives

Totally_Wired 29 Apr 2019

RNS Metal Tiger PLC Botswana Copper/Silver Project – T3 Infill Drilling Results 29 April 2019, 070 "Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to provide an update on the infill drilling results at the T3 Copper Project (“T3”), held 100% by MOD Resources Limited (“MOD”), in the Kalahari Copper Belt, Botswana. Since commencement of the infill drilling in January 2019, 49 of the planned 60 hole programme have now been completed, with the remaining 11 holes expected to be completed by the end of the first half of 2019. Assay results having now been received for a total of 36 holes, with the results for the first 11 holes having previously been announced on 12 March 2019. The assay results for the second batch of 25 holes, support the expectation that a significant portion of the Mineral Resources can be upgraded to Measured Category. It is expected that these results will allow a significant proportion of the current Resource, modelled within the first two stages of open pit production, to be upgraded into the higher confidence JORC (2012) compliant Measured Resource category. Subject to the necessary test work, results may also permit upgrading part of the current Probable Ore Reserve to the Proved Ore Reserve category." Michael McNeilly, Chief Executive Officer of Metal Tiger, commented: “We are pleased to report that the infill drilling at MOD’s T3 Project in Botswana continues to confirm both high grade copper and wide copper intersections within the planned T3 Open Pit in Botswana. The second batch of results continue to support the expectation that a significant portion of the Mineral Resource can be upgraded to the Measured Category, helping to further de-risk the attractive mining proposition.” This announcement coincides with an update released today by MOD which can be viewed through the following link: [link] More via link below:

Totally_Wired 25 Apr 2019

RNS Metal Tiger Plc Spain – Winter 2018/19 Work Programme Update & Drilling Results Metal Tiger (LON: MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to provide an update on the recent exploration activities of Logrosán Minerals Limited (“LML”) at its wholly owned Logrosán exploration project (“Logrosán” or the “Logrosán Project”) in Extremadura, Spain. The Logrosán Project is at an early exploration stage with confirmed gold and high grade tungsten targets. LML is a 50:50 joint venture (“JV”) between Metal Tiger and Mineral Exploration Network (Finland) Limited (“MEN Finland”). Exploration work to date at the Logrosán Project has delineated at least eight specific targets which warrant further investigation. With broad mineralised targets qualified at near surface depths by geochemistry, geophysics, trenching and rotary air blast (RAB) drilling, the 2018/19 winter drilling programme comprised 12 diamond drill holes for a total 2,283m drilled (the “Reconnaissance Drill Programme”), with the objective of determining the potential extent and tenor of mineralisation at depth. An initial four targets were selected for the Reconnaissance Drill Programme (two gold targets, one tungsten and gold target and one tungsten target). More via link: [link]

Totally_Wired 15 Apr 2019

RNS From earlier today: Metal Tiger plc Kalahari Metals Limited – Environmental Permitting Update Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to announce that Kalahari Metals Limited (“KML”), in which Metal Tiger owns 50% of the issued share capital, has received notification that the Environmental Management Plan (“EMP”) for KML’s Okavango Copper Project (“OCP”) has been reviewed and approved by the Botswana Department of Environmental Affairs (“DEA”), subject to a four-week public review period. The public review is the precursor to the EMP authorisation which, if granted, would allow diamond drilling to commence on high priority targets within the OCP. Competitive drilling tenders have been received and KML is confident drilling will take place shortly after completion of the public review. Michael McNeilly, Chief Executive Officer of Metal Tiger plc, commented: “I am delighted by the continued support that the Botswana Department of Environmental Affairs has shown for the development of the KML portfolio, in which we see significant potential. The KML portfolio now includes a number of exciting geophysical and structural targets across the highly prospective Kalahari Copper Belt, which warrant further investigation by drilling. The anticipated drilling approvals will commence an exciting new chapter for the Company and our shareholders, and we look forward to providing further updates in due course.” Project Background KML holds interests in 12 highly prospective exploration licences covering a total area of 8,594km2 in the Kalahari Copper Belt, consisting of two 100% owned exploration licences, five exploration licences, subject to a binding earn-in agreement with Triprop Holdings (Pty) Limited, and five exploration licences subject to a conditional acquisition agreement with Resource Exploration and Development Ltd. Under an investment agreement, announced on 6 June 2018, Metal Tiger owns 50% of KML, providing Metal Tiger with further exposure to a largely unexplored area, adjacent to significant recent discoveries in the highly prospective Kalahari Copper Belt. Competent Person’s Statement The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MAusIMM, FGS), who is a qualified geologist and acts as the Competent Person under the AIM Rules - Note for Mining and Oil & Gas Companies. Mr O’Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Metal Tiger PLC to provide technical support. [link]

Totally_Wired 10 Apr 2019

RNS Metal Tiger plc Kalahari Metals Limited – Acquisition of Kitlanya Ltd Metal Tiger plc (LON:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to announce that Kalahari Metals Limited (“KML”), in which Metal Tiger owns 50% of the issued share capital, has entered into a binding agreement with Resource Exploration and Development Limited (“RED”), to purchase 100% of Kitlanya Ltd (“Kitlanya”) (together with KML, the “Parties”) (the “Acquisition”). Post completion of the Acquisition, Metal Tiger’s interest in KML will be diluted to approximately 43.9%. Kitlanya is a 100% subsidiary of RED and was previously subject to an Earn-in Agreement between the Parties (as announced on 30 November 2018). The Parties have now agreed to terminate the Earn-in Agreement and have executed a conditional Share Purchase Agreement on similar terms. KML has completed US$100,000 of exploration works on the licences held by Kitlanya and will acquire 100% of Kitlanya for US$700,000, satisfied by the issue of shares representing approximately 13.4% of KML as enlarged by the Acquisition. The transaction will value KML, post completion of the Acquisition, at US$5,200,000. The Kitlanya licences comprise five recently granted exploration licences and cover approximately 4,651km2 of well-located exploration tenure in the prospective Kalahari Copper Belt. The Acquisition will increase KML’s direct land position in the Kalahari Copper Belt to approximately 8,594km2. The Acquisition is conditional upon approval of the change of control of Kitlanya being granted by the authorities in Botswana and receipt of an updated letter of good standing for the licences. Further announcements will be made in due course. The five licences have been divided into two project areas, namely Kitlanya West (“KIT-W”) and Kitlanya East (“KIT-E”): • KIT-E is notable for its thin Kalahari Group cover and proximity to known deposits such as MOD Resources’ T3 deposit. Targets include prospective anticlinal hinge zones identified from re- interpretation of historical magnetic data and drilling combined with recently collected airborne electromagnetic data (“AEM”) and soil samples • KIT-W is situated adjacent to KML’s Ngami Copper Project in proximity to the basin margin. Re-processing and inversion of historical AEM data has identified three prominent conductive ‘dome’ targets for follow-up work • Applications for environmental permits have been submitted to the Botswana Department of Environmental Affairs for both KIT-W and KIT-E, with a view to drill testing targets in the latter part of the 2019 field season Metal Tiger intends to provide further funding to KML to support its drilling in Q2 2019 and further announcements will be made as and when appropriate. Michael McNeilly, Chief Executive Officer of Metal Tiger, commented: “We are delighted that KML has reached an agreement to acquire Kitlanya, which will consolidate its highly prospective exploration interests in the Kalahari Copper Belt.We intend to demonstrate our continued support for KML and its activities in Botswana through the provision of further funding in due course.” Project Background KML holds interests in 12 highly prospective exploration licences covering a total area of 8,724km2 in the Kalahari Copper Belt, consisting of two 100% owned exploration licences, five exploration licences, subject to a binding earn-in agreement with Triprop Holdings (Pty) Limited, and five exploration licences subject to a conditional Acquisition agreement with RED. Under an investment agreement, announced on 6 June 2018, Metal Tiger owns 50% of KML, providing Metal Tiger with further exposure to a largely unexplored area, adjacent to significant recent discoveries in the highly prospective Kalahari Copper Belt. [link]

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