28th Jan 2021 11:22
28 January 2021
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, notes the press release from Southern Gold Limited (“Southern Gold”) which provides an update on the sale process for Southern Gold’s joint venture interest in the Gubong and Kochang projects (the “JV”). The JV is with London listed, Bluebird Merchant Ventures plc (“BMV”), and Southern Gold holds its interest through wholly owned subsidiary, International Gold Private Limited (“IGPL”).
As announced by Southern Gold on 20 November 2020, IGPL is deemed to have offered the sale of its JV interest to BMV and BMV opted to acquire it.
As of the start of business on 27 January 2021, neither Southern Gold nor IGPL had received payment of the agreed price of US$9,945,000 (approximately AUD$12,915,000), due on the close of the 60-day period (being 26 January 2021), from BMV.
Southern Gold has received a letter from BMV proposing alternative means of payment which will be considered whilst maintaining an open dialogue with BMV.
Metal Tiger is currently interested in 37,794,000 Southern Gold shares, representing approximately 17.72% of the company, and 7,284,500 2-year A$0.18 warrants.
The link to Southern Gold’s press release can be found below:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02334287-2A1276827?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 |
James Dance Jack Botros Georgia Langoulant | 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/20210128005554/en/
Copyright Business Wire 2021
Related Shares:
MTR.L