30th Nov 2020 09:12
30 November 2020
Metal Tiger Plc
("Metal Tiger" or the "Company")
Southern Gold Update (ASX:SAU)
Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to provide an update in relation to its investment in Southern Gold Limited (“Southern Gold”).
Southern Gold is in a 50:50 joint venture with London Stock Exchange listed, Bluebird Merchant Ventures PLC (“BMV”), in respect of the Gubong and Kochang (Geochang) projects (the “Project”) in the Republic of Korea.
Southern Gold has today released an announcement noting that the purchase price payable by BMV for Southern Gold’s 50% interest in the Project is US$9,945,000. BMV has 60 days from 27 November 2020 to pay the consideration.
Metal Tiger is currently interested in 36,569,000 Southern Gold shares, approximately 17.1% of the company, and 7,284,500 2-year A$0.18 warrants.
The link to Southern Gold’s announcement can be found below:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02315525-2A1266759?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/20201130005408/en/
Copyright Business Wire 2020
Related Shares:
MTR.L