11th Feb 2020 11:33
11 February 2020
Metal Tiger plc
("Metal Tiger" or the "Company")
Announcement of Placement by Southern Gold
Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to announce that, further to its announcement on 10 February 2020, Southern Gold Limited (“Southern Gold”) has announced that it has received binding commitments from investors in respect of a A$10 million placement (the “Placement”). The Placement is conditional on the approval of Southern Gold shareholders at a duly convened general meeting, expected to be held in early to mid-March.
Assuming Southern Gold shareholders approve the Placement, Metal Tiger will be interested in approximately 14.90% of the company. As part of the terms of Metal Tiger’s investment, Terry Grammer, Non-Executive Director of Metal Tiger, will join the Board of Southern Gold subject to the approval of the Placement by Southern Gold shareholders.
Southern Gold’s full press release can be viewed using the following link:
https://www.asx.com.au/asxpdf/20200211/pdf/44dzn05sbp5z1w.pdf
For further information on the Company, visit: www.metaltigerplc.com:
Enquiries:
| Michael McNeilly | (Chief Executive Officer) | Tel: +44 (0)20 7099 0738 | |||
| Mark Potter | (Chief Investment Officer) | ||||
| Richard Tulloch James Dance Jack Botros | Strand Hanson Limited (Nominated Adviser) | Tel +44 (0)20 7409 3494 | |||
| Gordon Poole James Crothers Monique Perks | Camarco (Financial PR) | Tel: +44 (0)20 3757 4980 |
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, Kalahari copper/silver belt through its interest in Kalahari Metals Limited. In Thailand, Metal Tiger has interests in two potentially near-production stage lead/zinc/silver mines as well as license 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/20200211005509/en/
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