LONDON--(BUSINESS WIRE)--
Metal Tiger plc
("Metal Tiger" or the "Company")
Kalahari Metals Limited / Cobre Limited Update
Metal Tiger plc (AIM: MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to note that, further its announcements of 15 December 2020 and 6 April 2021, completion has occurred with regard to Cobre Limited (“Cobre”) purchasing 49.99% of Kalahari Metals Limited (“KML”) in exchange for 20,999,214 newly issued ordinary shares in Cobre (“Cobre Shares”).
Metal Tiger has today received 5,106,963 new Cobre Shares, increasing its holding to 26,006,963 Cobre Shares, representing approximately 20.72% of Cobre’s enlarged share capital. Following the transfer, Metal Tiger now holds a 50.01% interest in KML.
As announced on 15 December 2020, subject to obtaining change in control approval from the Minister of Mineral Energy and Water Resources of the Republic of Botswana (the “Botswana Consent”) in respect of the KML group, Cobre will issue a further 445,368 new Cobre Shares to Metal Tiger, increasing its shareholding in KML to 51.00%, with Metal Tiger’s shareholding reducing to 49.00%. Further updates will be provided shortly with regard to drill plans and mobilisation, following the joint venture’s inaugural meeting, which is scheduled to be held tomorrow.
The link to Cobre’s press release can be found below:
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) |
|
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.