LONDON--(BUSINESS WIRE)--
Metal Tiger Plc
("Metal Tiger" or the "Company")
Cobre Update (ASX:CBE)
Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to note the press release from Cobre Limited (“Cobre”) regarding the successful completion of the due diligence period under the Heads of Agreement Cobre executed with the Company for the proposed scrip-based acquisition of up to a 51% interest in the equity of Kalahari Metals Limited (“KML”) (the “Transaction”).
The Transaction remains subject to finalising transaction documents, receipt of relevant regulatory approvals, and approval by Cobre shareholders at an Extraordinary General Meeting which is expected to occur in early 2021.
Metal Tiger owns 18.79% and 62.2% of the issued share capital of Cobre and 62.2% interest in Kalahari Metals LimiteKML drespectively.
For further information on the Heads of Agreement and the Transaction, please see Metal Tiger’s announcements of 24 August 2020 and 22 October 2020.
The link to Cobre’s Update press release can be found below:
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.