18th Mar 2015 13:37
LONDON (Alliance News) - Metal Tiger PLC said Wednesday it has delivered the first funding of its Spanish gold and tungsten joint venture agreement, formally signalling the start of the joint ventures operations.
As part of the planned exploration programme the joint venture partners have applied to secure an in-house drilling capability by buying a hydraulic rotary drill rig.
Exploration activities are expected to begin on the ground in April 2015.
"The approach taken through these initial steps is in line with the joint venture objective to rapidly increase data on the extent of gold and tungsten mineralisation within the targeted area. This also enables Metal Tiger to report on exploration results over the near-term," said Chief Executive Officer Cameron Parry in a statement.
Shares in Metal Tiger are trading up 11% at 0.638 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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