23 Jan 2018 07:47
23 January 2018
Metal Tiger Plc
("Metal Tiger" or the "Company")
Kingsgate Investment Update
Metal Tiger plc (LON:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, announces that it has sold 7,929,826 shares in Kingsgate Consolidated Limited (“KCN”) bringing its holding down from 18,184,511 to 11,504,685 shares in KCN representing 5.15% of KCN’s issued share capital. These sales resulted in gross proceeds of AUD$2,686,029 (circa £1,534,260).
Michael McNeilly, Chief Executive Officer of Metal Tiger plc commented:
“Metal Tiger has taken the prudent decision to de-risk our Kingsgate investment by partially selling down and booking a profit. It does not, however, mean we are going away. We still retain more than 5% of Kingsgate and will be watching the Board closely to see if they deliver on what they have promised. In the meantime we are turning the bulk of our attention to our Copper/Silver Joint Venture with MOD in Botswana, where a Prefeasibility Study on T3 is anticipated shortly.”
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 | |||||||
| Stephen Allen or Bhavesh Patel | RFC Ambrian Ltd (Nominated Adviser) | Tel +44 (0)20 3440 6800 | ||||||
| Jonathan Williams | RFC Ambrian Ltd (Joint Broker) | Tel +44 (0)20 3440 6800 | ||||||
| Nick Emerson | SI Capital (Joint Broker) | Tel: +44 (0)1483 413 500 | ||||||
| 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, 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.
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