13 October 2017
Metal Tiger Plc
("Metal Tiger" or the "Company")
Metal Tiger plc (LON:MTR), the London Stock Exchange AIM quoted investor in strategic natural resource opportunities, is pleased to announce a strategic investment in Kingsgate Consolidated Limited (ASX:KCN).
- Metal Tiger plc today purchased 1,850,000 ordinary shares in KCN at an average price of AUD$0.3249 (£0.19) per ordinary share for a total consideration of AUD$601,065 (circa £354,544), to bring its total holding in KCN up to 11,153,409 ordinary shares, representing 4.99% of the company;
- Metal Tiger started buying shares in KCN on 22 June 2017 and its average acquisition price is AUD$0.2441 (£0.14).
- Purchases were financed primarily from funds realised from trading division disposals.
Kingsgate Consolidated Limited is an ASX listed Gold Company which owns two main assets, the Chatree Gold Mine, through its Thai subsidiary Akara Resources Public Company Limited and the 100% owned Nueva Esperanza Project Silver Gold project in Chile where a definitive feasibility study is expected in January 2018. KCN is currently in negotiations with the Thai government to reopen the Chatree Gold Mine after it ceased operations in December 2016.
In the financial year ended 30 June 2017 KCN made total comprehensive income of AUD$8,333,000 (£4,906,470) and had net assets of AUD$100,860,000 (£59,401,497).
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|
|Tel: +44 (0)1483 413 500|
|Tel: +44 (0)20 3757 4980|
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations ("MAR") (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
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.