13th Jul 2017 15:01
MOD Resources Investment Update
Metal Tiger Plc
("Metal Tiger" or the "Company")
MOD Resources Investment Update
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM quoted investor in strategic natural resource opportunities is pleased to announce an update with regard to the Company’s investment in MOD Resources (ASX:MOD).
Highlights:
Metal Tiger currently holds 91,795,214 MOD shares valued at present at A$5,691,303 (circa £3,408,000) at today’s ASX closing price of A$0.062; Metal Tiger also holds 1,541,667 warrants with an exercise price of $A0.06 (expiry 15.4.19);Since 8 February 2017, Metal Tiger has made the following investments in MOD Resources for cash:
| Date | Amount | Purchase Price (A$) | |||
| 09/06/2017 | 3,500,000 | 0.064 | |||
| 13/06/2017 | 1,000,000 | 0.064 | |||
| 14/06/2017 | 1,000,000 | 0.066 | |||
| 15/06/2017 | 4,519,324 | 0.066 | |||
| 16/06/2017 | 1,980,676 | 0.065 |
MOD Resources reported audited net assets of A$18,407,416 and audited net loss of A$1,920,772 for the year ended 31.12.16.
Michael McNeilly Chief Executive Officer of Metal Tiger commented: “We are pleased to confirm the increasing investment by the Company in MOD Resources which adds considerably to the value of the Company’s equity and warrant portfolio.
We anticipate further market updates in respect of Botswanan exploration progress in the near term.”
For further information on the Company, visit: www.metaltigerplc.com:
| Michael McNeilly (Chief Executive Officer) | Tel: +44(0)20 7099 0738 | |||
| Keith Springall (Finance Director & Company Secretary) | Tel: +44 (0)20 7099 0738 | |||
| Sean Wyndham-Quin Neil Baldwin | Spark Advisory Partners Limited (Nominated Adviser) | Tel: +44 (0) 2033 683 555 www.sparkadvisorypartners.com | ||
| Nick Emerson Andy Thacker | SI Capital (Joint Broker) | Tel: +44 (0)1483 413 500 | ||
| Andrew Monk Andrew Raca | VSA Capital Limited (Joint Broker) | Tel: +44 (0)20 3005 5000 | ||
| Gordon Poole James Crothers | Camarco (Financial PR) | Tel: +44 (0)20 3757 4980 |
Notes to Editors:
Metal Tiger plc is listed on the London Stock Exchange AIM Market (“AIM”) with the trading code MTR and invests in high potential mineral projects with a precious and strategic metals focus.
The Company’s target is to deliver a very high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector timed to coincide, where possible, with a cyclical recovery in the exploration and mining markets. The Company’s key strategic objective is to ensure the distribution to shareholders of major returns achieved from disposals.
Metal Tiger’s Metal Projects Division is focused on the development of its key project interests in Botswana, Spain and Thailand. In Botswana Metal Tiger has a growing interest in the large and highly prospective Kalahari copper/silver belt. In Spain Metal Tiger the Company has tungsten and gold interests in the highly-mineralised Extremadura region. In Thailand Metal Tiger has interests in two potentially near-production stage silver/lead/zinc mines as well as licences, applications and critical historical data covering antimony, copper, gold, silver, lead and zinc opportunities.
The Company has access to a diverse pipeline of new opportunities focused on the natural resource sector including physical resource projects, new natural resource centred technologies and resource sector related fintech opportunities. Pipeline projects deemed commercially viable may be undertaken by Metal Tiger or by an AIM or NEX Exchange (formerly ISDX) partner with whom the Company is engaged.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170713005634/en/
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Related Shares:
MTR.L