Southern Gold Update


29 April 2021

Metal Tiger plc

("Metal Tiger" or the "Company")

Southern Gold Update

Metal Tiger plc (AIM: MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to note Southern Gold Limited’s (“Southern Gold”) release of its quarterly activities report and Appendix 5B.

Metal Tiger is currently interested in 37,794,000 Southern Gold shares, representing approximately 17.72% of the company, and 7,284,500 2-year A$0.18 warrants.


  • Commercial negotiations continued regarding the settlement of Southern Gold’s sale of 50% Joint Venture interests in the Gubong and Kochang Projects for a price of US$9.945 million, as determined by an independent expert. Discussions are in an advanced stage and an update to the market expected in the coming quarter.
  • Strong focus on field work in South Korea during the post-winter field season to build up future drill targets.
  • Deokon Project (SAU 100%): Soil sampling program completed over the northern Golden Surprise trend has confirmed the Au-Ag mineralised trend extends at least one kilometre in strike length and remains open.
  • Geum Mar Project (SAU 100%): One initial scout diamond hole totalling 204.9m drilled targeting beneath the Golden Horse quarry, assays pending. Extensive soil sampling program commenced.
  • Aphae Project (SAU 100%): 543m of diamond drilling completed with peak assay result of 0.47m @ 1.41g/t Au, 152g/t Ag, 0.58% Pb and 0.86% Zn from 109.3m. Peak assay results from surface sampling to the northeast of the drilling area were 3.1g/t Au and 131g/t Ag.
  • Weolyu Project (SAU 100%): Extensive rehabilitation of drill pads and track completed.

Links to Southern Gold’s announcement released today are set out below:

Quarterly Activities Report and Appendix 5B

For further information on the Company, visit:


Michael McNeilly

(Chief Executive Officer)

Tel: +44 (0)20 3287 5349

Mark Potter

(Chief Investment Officer)


James Dance

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: 736260
Time of Receipt (offset from UTC): 20210429T072559+0100


Metal Tiger plc


Metal Tiger plc