Investment in Artemis Resources Limited

LONDON--()-- 

Metal Tiger plc

(“Metal Tiger” or the “Company”)

Investment in Artemis Resources Limited

Metal Tiger plc (AIM: MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to announce that it has subscribed for 7,142,857 new ordinary shares in Artemis Resources Limited (“Artemis”) (the “Artemis Shares”) at a price of A$0.07 per share for an investment cost of A$500,000 (the “Investment”).

The Investment forms part of Artemis’ A$5.6 million fundraise (the “Fundraise”) announced earlier today, further details of which can be found via the following link: www.artemisresources.com.au/investors-relations/announcements

On completion of the Fundraise, Metal Tiger will be interested in 7,142,857 Artemis Shares, representing approximately 0.6% of Artemis’s then enlarged issued share capital.

Artemis is an ASX-listed (ASX:ARV) natural resource exploration and development company with a current focus on the Paterson and Carlow Castle gold projects in Western Australia. Mark Potter, Director and Chief Investment Officer of Metal Tiger, is Non-Executive Chairman of Artemis. For the half year ended 31 December 2019, Artemis reported net assets of A$54,173,585 and a net loss of A$8,051,108.

Michael McNeilly, Chief Executive Officer of Metal Tiger, commented:

“We are pleased to make this investment in Artemis as it progresses its aggressive exploration plans at Paterson and Carlow Castle. Following Metal Tiger’s successful investment in Greatland Gold in 2019, after the discovery of Havieron at Paterson, the Investment provides Metal Tiger with the opportunity to potentially benefit from further new gold discoveries in the highly prospective Paterson region of Western Australia. In addition, Artemis has a pre-existing gold-copper-cobalt resource at Carlow Castle and the Radio Hill processing plant, which has the potential to become a standalone mining operation in the future.”

This announcement contains inside information for the purposes of the market abuse regulation (EU No. 596/2014) (“MAR”).

For further information on the Company, visit: www.metaltigerplc.com

Enquiries:

Michael McNeilly

(Chief Executive Officer)

Tel: +44 (0)20 7099 0738

Mark Potter

(Chief Investment Officer)

 

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.

Short Name: Metal Tiger plc
Category Code: MSCL
Sequence Number: 704001
Time of Receipt (offset from UTC): 20200716T185737+0100

Contacts

Metal Tiger plc

Contacts

Metal Tiger plc