Cobre and KML Update


Metal Tiger Plc

("Metal Tiger" or the "Company")

Cobre and KML Update

Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to note that, further to its announcement of 15 December 2020, Cobre Limited (“Cobre”) has today sent a notice of extraordinary general meeting (the “EGM”) to its shareholders in respect of the conditional acquisition by Cobre of 51% of the issued share capital of Kalahari Minerals Limited (“KML”) (the “Transaction”). The EGM will be held as a virtual meeting at 11:30am (AEST, Sydney time) on Tuesday, 6 April 2021. Metal Tiger will vote in favour of all resolutions where it is permitted to vote.

Metal Tiger is currently interested in 19.99% of Cobre and 62.17% of KML. Should Cobre shareholders approve the Transaction at the EGM, Metal Tiger will be issued additional shares pursuant to the Transaction, such that its interest in Cobre will increase to 20.72% of Cobre’s then enlarged share capital, in exchange for part of its shareholding in KML, which, subject to the timing of receipt of change of control approval, in respect of KML, from the Minister of Mineral Energy and Water Resources of the Republic of Botswana, will reduce to 49.00% or 50.01%.

Michel McNeilly, Chief Executive Officer of Metal Tiger plc, commented:

“We are pleased that the EGM Notice has been sent to Cobre shareholders and, in anticipation of a successful vote, the respective teams at Cobre, Metal Tiger and Kalahari Metals are already putting in place appropriate plans to commence a drilling programme in the KML project areas, seeking to identify a potential copper resource discovery in proximity to Sandfire’s T3 and A4 projects, as soon as possible post completion of the Transaction. I look forward to updating shareholders in the near future as these plans are established and evolve.”

Cobre’s notice of EGM and accompanying letter to shareholders can be accessed via the links below:

Notice of Extraordinary General Meeting/Proxy Form:

EGM Letter to Shareholders:

For further information on the Company, visit:


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.

Category Code: MSCL
Sequence Number: 731713
Time of Receipt (offset from UTC): 20210303T100509+0000


Metal Tiger plc


Metal Tiger plc