10th Nov 2016 09:47
LONDON (Alliance News) - Metal Tiger PLC and Greatland Gold PLC said Thursday they have signed a memorandum of understanding to explore and cooperate on new opportunities in the precious metals and strategic base metals sector.
AIM-listed Greatland Gold will co-operate with Metal Tiger's Australian subsidiary to explore project-level joint venture and co-investment opportunities with a primary focus on Australia and Asia.
The two will also discuss the viability of establishing an Australian-listed vehicle for projects in the sector.
The memorandum of understanding is for an initial period of 12 months, which can be extended if both parties agree.
"We are delighted to announced this MoU with Metal Tiger Australia regarding a collaboration on new ventures which we hope will provide Greatland with a significantly expanded set of attractive opportunities in the precious and strategic base metal sectors over the next few years," said Callum Baxter, executive director of Greatland Gold.
Terry Grammer, Metal Tiger chairman, added: "I am pleased to announce this MoU with Greatland Gold which is the first step in leveraging the skill base and contacts housed in Metal Tiger Australia. MTA is based in Perth, Western Australia and the team have access to an extensive range of excellent resource opportunities in Australia and Asia the furtherance of which can create value for Metal Tiger and any prospective partners."
Shares in Greatland Gold were up 15% at 0.235 pence Thursday, while shares in Metal Tiger were up 1.6% at 2.23p.
By Adam Clark; [email protected]
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