23rd Oct 2020 08:40
Metal Tiger Plc
("Metal Tiger" or the "Company")
Investment in Predictive Discovery Limited
Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to announce that it has subscribed for 2,678,572 new ordinary shares in Predictive Discovery Limited (“Predictive”) (ASX:PDI), at a price of A$0.056 per share, for a total investment of A$150,000, as part of a placing of A$10.6 million (gross) announced by Predictive on 23 October 2020 (the “Placing”).
Following completion of the Placing, Metal Tiger will be interested in 2,678,572 Predictive shares representing approximately 0.3% of Predictive’s then issued share capital.
Predictive is a West African focused gold explorer with a large portfolio of 100%-owned and joint venture gold projects located across West Africa. Predictive has recently started the second phase of its drilling programme at its flagship Bankan Project in Guinea’s Siguiri Basin. The Bankan Project comprises the NE Bankan Prospect, a 1.6km long auger gold trend, Bankan Creek, a second prospect, located 3km southwest of NE Bankan along with several more power auger defined prospects on the Kaninko and Saman permits. Some of the notable drill results at the Bankan Project have included 46m @ 6.6g/t Au, 78m @ 2.6g/t Au and 55m @ 2.9g/t Au.
For the financial year ended 30 June 2020, Predictive reported a net loss of A$2.35 million and, as at 30 June 2020, had net assets of A$12.85 million.
Predictive’s announcement in respect of the Placing can be viewed via the link below:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02297850-6A1002686?access_token=83ff96335c2d45a094df02a206a39ff4
For further information on the Company, visit: www.metaltigerplc.com:
Enquiries:
Michael McNeilly Mark Potter | (Chief Executive Officer) (Chief Investment Officer) | Tel: +44 (0)20 7099 0738 |
Richard Tulloch James Dance Jack Botros | Strand Hanson Limited (Nominated Adviser) | Tel +44 (0)20 7409 3494 |
Paul Shackleton Steve Douglas | Arden Partners plc (Broker) | Tel: +44 (0)20 7614 5900 |
Gordon Poole James Crothers Hugo Liddy | 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: Equity Investments and Project Investments.
Equity Investments invests in undervalued natural resource companies. The majority of its investments are listed on AIM, the TSX and the ASX, which includes its interest in Sandfire Resources Limited (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 for the Project Investments division.
Project Investments is focused on the development of its key project interests in Botswana, where Metal Tiger has a growing interest in the large and highly prospective Kalahari copper/silver belt through its interest in Kalahari Metals Limited.
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/20201023005135/en/
Copyright Business Wire 2020
Related Shares:
MTR.L