http://www.proactiveinvestors.co.uk Proactiveinvestors RSS feed en Tue, 22 Aug 2017 04:16:32 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Conversion of Securities ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170813005053/ Mon, 14 Aug 2017 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170813005053/ <![CDATA[RNS press release - Conversion of Securities ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170809006234/ Thu, 10 Aug 2017 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170809006234/ <![CDATA[RNS press release - Conversion of Securities ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170809005534/ Wed, 09 Aug 2017 11:39:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170809005534/ <![CDATA[News - Regulatory sign-off sees drilling resume at Metal Tiger’s Kalahari copper belt JV in Botswana ]]> http://www.proactiveinvestors.co.uk/companies/news/182047/regulatory-sign-off-sees-drilling-resume-at-metal-tigers-kalahari-copper-belt-jv-in-botswana-182047.html Drilling has restarted at Metal Tiger PLC’s (LON:MTR) Kalahari copper belt joint venture after its Environmental Management Plan received the green light from the Botswana Department of Environment.

Metal and its JV partner MOD Resources Ltd (ASX:MOD) had been waiting on the approvals, which have now been granted through the end of 2018.

LOOK: Plan of T3 showing previous drill holes, new targets and planned drilling

With the ticks in all the right boxes, Metal Tiger is looking to diamond drill up to 70 holes in this next stage of work, with most of those being drilled before the end of this year.

Among other things, those holes will test potential extensions to the east and west of the planned open pit as well as the high grade intersections that have potential for underground mining.

‘Exciting new period’ in Botswana

“With the approval of the Environmental Management Plan by the Botswana Department of Environment we have the green light to restart the drilling rigs today,” said MTR chief executive Michael McNeilly.

“The next phase of work includes up to 70 planned holes and several new targets to test in the T3 area.

“This includes testing the potential of high grade vein-hosted copper, down-dip of the planned open-pit, to support possible underground mining. We envisage the start of an exciting new period at T3 as the pace of work ramps up again.”

 

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Mon, 07 Aug 2017 08:12:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/182047/regulatory-sign-off-sees-drilling-resume-at-metal-tigers-kalahari-copper-belt-jv-in-botswana-182047.html
<![CDATA[RNS press release - Drilling/Production Report ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170806005058/ Mon, 07 Aug 2017 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170806005058/ <![CDATA[RNS press release - Conversion of Securities ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170731005484/ Mon, 31 Jul 2017 11:59:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170731005484/ <![CDATA[RNS press release - AGM Statement ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170727005830/ Thu, 27 Jul 2017 14:22:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170727005830/ <![CDATA[News - Metal Tiger details 19 new targets at Kalahari copper exploration project ]]> http://www.proactiveinvestors.co.uk/companies/news/181260/metal-tiger-details-19-new-targets-at-kalahari-copper-exploration-project-181260.html Metal Tiger Plc (LON:MTR) has given details of nineteen potential exploration targets that have been identified in the T3 Dome area, of its Kalahari copper belt in Botswana.

The AIM-quoted group’s exploration partner MOD Resources had undertaken an airborne electromagnetic geophysics survey that identified the nineteen anomalies.

READ: Metal Tiger believes it has only scratched surface in Thailand and Botswana

"We are delighted to report on the findings of a provisional interpretation of the Airborne Electromagnetic survey data,” said Michael McNeilly, Metal Tiger chief executive.

“The AEM data will prove an important tool to help focus exploration efforts on the discovery of further T3 Type copper/silver deposits along the T3 Dome. 

"Whilst it is too early to determine whether these 19 anomalies are directly related to copper mineralisation, the large number and variety of these anomalies provides exciting possibilities."

McNeilly told investors that each anomaly will now be evaluated, along with other existing ground survey data, so that the geological team can prioritise each target for drill testing.

Metal Tiger detailed that the new targets include discrete, formational and deeper conductive anomalies. Several of them show similarities to the ground signature at T3.

It added that three of them are located directly along strike from the large Banana Zone copper resources, which are owned by Cupric Canyon Capital.

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Fri, 21 Jul 2017 08:13:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/181260/metal-tiger-details-19-new-targets-at-kalahari-copper-exploration-project-181260.html
<![CDATA[RNS press release - Botswana Copper/Silver - AEM Geophysics Anomalies ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20170721070003_13302790/ Fri, 21 Jul 2017 07:00:03 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20170721070003_13302790/ <![CDATA[RNS press release - Change of Nominated Adviser / Broker ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170720005585/ Thu, 20 Jul 2017 12:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170720005585/ <![CDATA[News - Metal Tiger believes it has only scratched surface in Thailand and Botswana ]]> http://www.proactiveinvestors.co.uk/companies/news/180999/metal-tiger-believes-it-has-only-scratched-surface-in-thailand-and-botswana-180999.html News has been coming thick and fast this year from Metal Tiger PLC.

The company has two core projects: T3 in Botswana and Kemco, a lead-zinc-silver project in Thailand.

At T3, it has a 30% stake in the Kalahari copper belt project, with the other 70% belonging to its partner, MOD Resources (ASX:MOD).

The two have worked together to rapidly develop the T3 deposit at the project, and has already had a scoping study released for it despite only being found in March.

Teeing up nicely

VSA Capital estimates that the deposit has a net present value of US$170mln on a 100% basis, following an initial outlay of US$135mln.

The low-cost (VSA estimates an average US$2,690 per tonne over the nine year mine life) open pit mine at T3 will exploit an initial 28mln tonne resource with a grade of 1.24% copper.

There are also satellite deposits at the project, which could lead to future exploration and expansion potential.

Resource update in August

Further drilling results are expected in the near term and the results to date indicate that the planned resource update, due in August 2017, is likely to result in a larger resource with increased confidence, said house broker VSA.

Additional exploration work, including an Airborne Electro Magnetic Survey, is also ongoing at the peripheral satellite deposits to T3.

Thailand also moving forward

In Thailand, Metal Tiger has an effective 78% interest in Kemco, a silver-lead-zinc project, which has become more attractive given the surge in lead and zinc prices this year.

VSA reckons the project has “strong cash flow potential” and attractive returns with a net present value of US$47mln.

A lot of the mine’s original underground infrastructure and processing plant remains in good order, which should mean that starting the project back up again is a relatively low-cost affair.

The firm is currently going through the permitting process in the country to try and get a mining licence as well as exploration licences on some of the surrounding areas.

In June, a competent person’s report indicated the key project metrics had seen material improvements since the previous study with contained metal increased by up to 25%, resulting in a net 12% increase in modelled revenue and operating income up 9% to US$202.5mln despite silver prices falling to US$20 an ounce from a previously modelled US$30.

KEMCO listing expected to occur by third quarter

The AIM-listed firm announced on March 7 that KEMCO will raise further capital and itself seek admission to trading on the AIM market, with Metal Tiger to retain around an 80% stake after the listing.

While these two represent the company’s primary focus at the moment, it also has interests in Spain, Russia and Tanzania.

It has teamed up with Mineral Exploration Network (Finland) Ltd and the two are targeting gold and tungsten at the Logrosan Project and gold and antinomy at the Maria Project.

At Logrosan, MEN is assessing and costing an exploration programme.

Asset trading

To try and generate some cash flow, Metal Tiger also has an Asset Trading division and has a stake in several natural resources companies, the returns from which are put straight back into its own projects.

The current investment portfolio includes the likes of Goldstone Resources (LON:GRL), Red Rock Resources (LON:RRR), Greatland Gold (LON:GGP) as well as several others

What the broker says

VSA adds: “With a current market cap of £19mln we believe that MTR receives little credit for its core projects in Botswana and Thailand, which based on our analysis have risked attributable NAV’s of £26m and £14m respectively.

“The progress in recent months including strong drilling results in Botswana and the updated CPR for the Thai project further de-risk the projects and underpin our confidence in their potential.”

The broker has a target price of 4.57p per share or more than double the current 2p share price. 

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Mon, 17 Jul 2017 14:33:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/180999/metal-tiger-believes-it-has-only-scratched-surface-in-thailand-and-botswana-180999.html
<![CDATA[News - Metal Tiger expects resource upgrade and new drilling in August ]]> http://www.proactiveinvestors.co.uk/companies/news/180963/metal-tiger-expects-resource-upgrade-and-new-drilling-in-august-180963.html Metal Tiger Plc (LON:MTR) told investors it expects to release a resource upgrade in August for its T3 exploration project in the Kalahari copper belt in Botswana.

In a project update from its Botswana joint venture with MOD Resources, where it has a 30% stake (plus a 4.86% shareholding in MOD), the company confirmed that all sample assays have now been received from previous infill and extensional drilling.

It said it expects next month’s resource upgrade will include Zone 1 and Zone 2. At the same time, it added that work on prefeasibility elements is making progress and it is on track for completion in the fourth quarter of this year.

Drilling is due to restart on the T3 area in August, subject to completion of the Environmental Management Plan public review. The company also noted that ongoing airborne study indicates the potential for multiple new targets.

Michael McNeilly, Metal Tiger chief executive, in a statement, said: “We are pleased to report that with the previously outstanding drill hole assay results now being sent to the project’s resource consultant in South Africa, we anticipate being able to release an updated and enlarged, T3 mineral resource estimate incorporating the results of the infill drilling and the underlying Zone 2 mineralisation during August.

“As well as being an important project metric, the updated T3 Resource will feed directly into the mining and geotechnical work streams of the T3 open-pit Pre-Feasibility Study which is progressing well and is expected to be completed around November 2017.”

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Mon, 17 Jul 2017 07:57:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/180963/metal-tiger-expects-resource-upgrade-and-new-drilling-in-august-180963.html
<![CDATA[RNS press release - Botswana Copper/Silver Project - T3 Progress Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170716005041/ Mon, 17 Jul 2017 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170716005041/ <![CDATA[RNS press release - MOD Resources Investment Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170713005634/ Thu, 13 Jul 2017 15:01:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170713005634/ <![CDATA[RNS press release - Issue of Equity for Services ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170711005645/ Tue, 11 Jul 2017 08:03:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170711005645/ <![CDATA[News - Electromagnetic survey identifies new anomalies at Metal Tiger’s Kalahari copper belt project ]]> http://www.proactiveinvestors.co.uk/companies/news/180466/electromagnetic-survey-identifies-new-anomalies-at-metal-tigers-kalahari-copper-belt-project-180466.html An airborne electromagnetic survey carried out over Metal Tiger PLC’s (LON:MTR) Kalahari copper-silver project in Botswana has identified more “distinctive” anomalies similar to that found at the T3 deposit.

A scoping study last year suggested the T3 deposit was host to more than 210,000 tonnes of copper and 6.65mln ounces of silver.

Metal, along with its joint venture (JV) partner MOD Resources, said the anomalies identified could be potential targets for vein-hosted mineralisation.

Full interpretation of the EM data is still ongoing to prioritise these anomalies for drill testing.

“We are delighted to report that high-resolution airborne electro-magnetic geophysics appears to be an important new tool in the JV’s copper exploration arsenal, successfully identifying a distinct geophysical anomaly consistent with the T3 Deposit,” said Metal Tiger chief executive Michael McNeilly.

“We are hopeful that AEM geophysics could now hold the key to fast tracking the localisation of further T3 Type copper/silver deposits in what is an extensive, yet highly prospective, concession portfolio.”

There was also some good news from the Botswana Department of Environmental Affairs, which has authorised the T3 environmental  management plan to proceed to a four-week public review period which will start tomorrow (7 July).

“It is highly encouraging that the DEA has authorised the T3 Environmental Management Plan which is now entering a 4-week public review period,” McNeilly added.

“As the precursor for granting, should this be successful it will allow for drilling to recommence at T3 and surrounding targets.”

Shares in Metal Tiger were flat at 2p.

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Thu, 06 Jul 2017 12:29:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/180466/electromagnetic-survey-identifies-new-anomalies-at-metal-tigers-kalahari-copper-belt-project-180466.html
<![CDATA[RNS press release - Botswana Copper/Silver Project - Airborne EM Survey & Permitting Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170706005418/ Thu, 06 Jul 2017 08:27:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170706005418/ <![CDATA[News - Metal Tiger's net asset value grows 389% in 2016 ]]> http://www.proactiveinvestors.co.uk/companies/news/180097/metal-tiger-s-net-asset-value-grows-389-in-2016-180097.html Natural resources investment group Metal Tiger PLC (LON:MTR) made good progress in 2016 and saw its net asset value grow 389% to around £7.4mln.

Notably, its interests in Thailand and Botswana grew substantially and its investments in Direct Equities yielded strong results, it said.

Investment gains were over £2.6mln and its net current assets at year end stood at £5.67mln, up from £1.058 mln the year previously.

Metal said the long-term outlook for copper, lead, zinc, silver and gold were expected to be positive in the years ahead, while the consolidation of the rebound in copper prices, that began in November 2016, is expected to continue.

Industrial metal prices are expected to remain supported in 2017 due to strong demand from China, and supply constraints in Chile, Indonesia and Peru.

"Metal Tiger was very active for the second year in a row, with substantial progress with respect to its projects in Botswana and Thailand, extensive assessment of new opportunities and active management of the equities portfolio.

"The board is now focused on maximising its returns from its two key projects in Thailand and in Botswana and the company will continue to grow into a more robust natural resources investing company," chairman Charles Hall said.

The first half of 2017 has been encouraging, the firm added, with a capital raise from Sprott Capital Partners and others totalling £4.85mln, with progress on the pre-feasibility study in Botswana; and the completion of the PEA and CPR on the lead, zinc, silver mine in Thailand.

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Fri, 30 Jun 2017 07:20:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/180097/metal-tiger-s-net-asset-value-grows-389-in-2016-180097.html
<![CDATA[RNS press release - Audited results for the year ended 31 December 2016 ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170629006440/ Fri, 30 Jun 2017 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170629006440/ <![CDATA[News - Metal Tiger joint-venture partner costing next-phase exploration programme in Spain ]]> http://www.proactiveinvestors.co.uk/companies/news/179878/ Natural resources investment firm Metal Tiger PLC (LON:MTR) said its partner in the Logrosan Minerals joint-venture is currently assessing and costing an exploration programme that will best extract value from the pair’s assets in Extremadura, Spain.

It has teamed up with Mineral Exploration Network (Finland) Ltd and the two are targeting gold and tungsten at the Logrosan Project and gold and antinomy at the Maria Project.

Metal Tiger said a “first-pass” mixed reverse circulation and diamond drilling programme is currently being costed for the two tungsten deposits, the Maria gold and antimony deposit and the three Logrosan gold anomalies.

READ: Our Big Picture overview of Metal Tiger

“The addition of deep-drill intersections could potentially add significant value to our Spanish holdings,” said Metal Tiger in a stock exchange statement.

It follows an extensive early-stage exploration programme carried out in the first quarter across the properties and which saw it take and assay 7,345 samples for gold.

The latest work has effectively served to merge the two El Seranillo gold targets into a single five-kilometre long gold zone.

The team on the ground has also uncovered a new tungsten anomaly located three kilometres north-east and along strike from the Tungsten Target 2 deposit.

“The joint venture partners are now considering our options for the progression of the project,” Metal Tiger chief executive Michael McNeilly.

“Our joint-venture partner is in the process of preparing a proposal and budget of possible future work for Metal Tiger to consider.”

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Tue, 27 Jun 2017 08:13:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/179878/
<![CDATA[RNS press release - Spain - Spring Programme Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170626005883/ Tue, 27 Jun 2017 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170626005883/ <![CDATA[RNS press release - Exercise of Warrants ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170620005995/ Tue, 20 Jun 2017 14:39:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170620005995/ <![CDATA[RNS press release - Botswana Copper/Silver Project - Regional Exploration Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170620005647/ Tue, 20 Jun 2017 08:29:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170620005647/ <![CDATA[News - Metal Tiger says final CPR shows "material mineral" upgrade for its KEMCO Thai mines joint venture ]]> http://www.proactiveinvestors.co.uk/companies/news/179160/metal-tiger-says-final-cpr-shows-material-mineral-upgrade-for-its-kemco-thai-mines-joint-venture-179160.html Metal Tiger PLC (LON:MTR) has unveiled details of the final draft Competent Persons Report (CPR) from SRK Consulting (UK) Ltd into its KEMCO Thai silver lead and zinc mines joint venture which it is looking to spin-off showing a "material" upgrade to mineral resources.

In a statement, Michael McNeilly, Metal Tiger’s chief executive officer said: “Utilising the significant amount of data that has been compiled by the KEMCO team since 2013, SRK has independently presented a material Mineral Resource upgrade and demonstrated the significant value of the KEMCO Project.”

WATCH: Zak Mir on Metal Tiger READ: Metal Tiger receives first numbers for new Thai mines

McNeilly  added: “SRK has determined that the Project not only warrants the further technical work required to commence an optimised reopening, but holds the potential for significant Mineral Resource increases and enhancement through ongoing exploration and assessment.”

“The CPR findings and Mineral Resource upgrade have provided us with a firm base on which to further improve the Project as we work through the Thai mine permitting process and develop our knowledge to a Prefeasibility Study level.”

He said that the key project metrics have seen material improvements since the previous study with contained metal increased by up to 25%, resulting in a net 12% increase in modelled revenue and operating income up 9% to US$202.5mln despite silver prices falling to US$20 an ounce from a previously modelled US$30.

He added: “Whilst the Project NPV has fallen, against the 2013 study, to US$45.9mln, sensitivity analysis shows this is largely due to the increased provision for up-front capital cost and operating costs based on international dollar terms.”

KEMCO listing expected to occur by end third quarter 2017

The AIM-listed firm announced on March 7 that it is intended that KEMCO will raise further capital and itself seek admission to trading on the AIM market, with Metal Tiger to retain around an 80% stake in KEMCO after the listing.

The final CPR is intended to be included in the admission document in relation to KEMCO’s proposed flotation, which is expected to occur by the end of third quarter of 2017.

Earlier today, Metal Tiger also announced that it has identified more high grade copper around the edges of the planned open pit at its T3 copper project in Botswana.

READ: Metal Tiger encouraged by high grade copper indications at edge of mine at T3 in Botswana

Metal Tiger has a 30% stake in the project in the Kalahari copper belt in Botswana with Aussie-listed MOD Resources holding the remainder and the operator for the project.

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Tue, 13 Jun 2017 14:34:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/179160/metal-tiger-says-final-cpr-shows-material-mineral-upgrade-for-its-kemco-thai-mines-joint-venture-179160.html
<![CDATA[RNS press release - Thailand - Receipt of KEMCO Competent Person Report Final Draft, Mineral Resource Estimate & Valuation Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170613005790/ Tue, 13 Jun 2017 13:11:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170613005790/ <![CDATA[Media files - Zak Mir: ‘Now it’s through the 200-day moving average, Metal Tiger can head towards 3.6p’ ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/7625/zak-mir-now-its-through-the-200-day-moving-average-metal-tiger-can-head-towards-36p-7625.html Tue, 13 Jun 2017 09:35:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/7625/zak-mir-now-its-through-the-200-day-moving-average-metal-tiger-can-head-towards-36p-7625.html <![CDATA[News - Metal Tiger encouraged by high grade copper indications at edge of mine at T3 in Botswana ]]> http://www.proactiveinvestors.co.uk/companies/news/179141/metal-tiger-encouraged-by-high-grade-copper-indications-at-edge-of-mine-at-t3-in-botswana-179141.html Metal Tiger PLC (LON:MTR) has identified more high grade copper around the edges of the planned open pit at its T3 copper project in Botswana.

Michael McNeilly, chief executive, said the geotechnical holes were drilled to optimise and define the pit design with some intersections expected as work progressed.

WATCH: Zak Mir on Metal Tiger

However, the high grades, especially the 46.6m at a grade of 2.1% copper and 32g/t silver in hole Geotech 7 on the eastern side of the planned pit would now be considered as part of the pit design optimisation, he said.

All outstanding drill hole assay results for Zones 1, 2 & 3 are expected by end of June, he added, with an updated resource estimate to include Zones 1 & 2.

Metal Tiger has a 30% stake in the project in the Kalahari copper belt in Botswana with Aussie-listed MOD Resources holding the remainder and the operator for the project.

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Tue, 13 Jun 2017 09:32:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/179141/metal-tiger-encouraged-by-high-grade-copper-indications-at-edge-of-mine-at-t3-in-botswana-179141.html
<![CDATA[RNS press release - Botswana Copper/Silver Project - T3 Progress Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170612006320/ Tue, 13 Jun 2017 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170612006320/ <![CDATA[RNS press release - Extension of Warrant Period ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170530005912/ Tue, 30 May 2017 16:16:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170530005912/ <![CDATA[RNS press release - Exercise of Warrants/PDMR notification ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170524005650/ Wed, 24 May 2017 13:31:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170524005650/ <![CDATA[News - Prefeasibility work progressing well at Metal Tiger’s copper joint venture in Botswana ]]> http://www.proactiveinvestors.co.uk/companies/news/178263/prefeasibility-work-progressing-well-at-metal-tigers-copper-joint-venture-in-botswana-178263.html Metal Tiger PLC (LON:MTR) has revealed details of progress with pre-feasibility work at the T3 copper project in Botswana, held in joint venture with MOD Resources (ASX:MOD).

A crucial component of the work, the Environmental Management Plan, will be lodged with the relevant authorities within next few days.

This will then allow for the next phase of drilling at T3, for which high priority targets have already been identified.

Meanwhile, the two partners also plan shortly to conduct airborne electromagnetics to identify potential new areas of mineralisation in the wider area.

“We are very pleased to report that following consultation, the Department of Environmental Affairs has agreed that an Environmental Management Plan will suffice for permitting further Resource drilling at T3 and the drill testing of the various exciting targets in the wider T3 area,” said chief executive Michael McNeilly.

A scoping study released at the beginning of December 2016 envisaged an open pit mine at T3 with a two million tonnes per year processing plant, an indicative mine life of 10 years and an average production rate of 21,800 tonnes per year of copper and 665,000 ounces of silver.

 

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Wed, 24 May 2017 12:37:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/178263/prefeasibility-work-progressing-well-at-metal-tigers-copper-joint-venture-in-botswana-178263.html
<![CDATA[RNS press release - Exercise of Warrants ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170523006043/ Tue, 23 May 2017 15:32:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170523006043/ <![CDATA[RNS press release - Exercise of Warrants ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170523005752/ Tue, 23 May 2017 11:02:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170523005752/ <![CDATA[RNS press release - Issue of Equity and PDMR notification ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170511005636/ Thu, 11 May 2017 13:24:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170511005636/ <![CDATA[RNS press release - Options Grant and Issue of Equity ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170511005541/ Thu, 11 May 2017 10:55:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170511005541/ <![CDATA[RNS press release - Semenovsky Tailings Project update ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170508005907/ Mon, 08 May 2017 16:34:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170508005907/ <![CDATA[News - Metal Tiger receives first numbers for new Thai mines ]]> http://www.proactiveinvestors.co.uk/companies/news/177158/metal-tiger-receives-first-numbers-for-new-thai-mines-177158.html Metal Tiger PLC (LON:MTR) has received the first draft of a preliminary economic assessment for its Song-Toh and Boh Yai silver lead zinc mines in Thailand from consultant SRK.

The draft has boosted confidence over mineralisation interpretation, mine schedule and project costs, Metal Tiger said.

Work is now ongoing with SRK to enhance the project fundamentals and optimise the economics at the PEA level.

The plan is to spin the Thai mines off into a separate subsidiary that will list in London in the summer.

Metal Tiger added that project management specialist Geoff McIntyre has stepped down from his executive post with Metal Tiger to become a non-executive director. 

CLICK HERE: For a daily round-up of all the Proactive news ]]>
Tue, 02 May 2017 12:02:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/177158/metal-tiger-receives-first-numbers-for-new-thai-mines-177158.html
<![CDATA[RNS press release - Director and Thai Competent Person Report update ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170502005664/ Tue, 02 May 2017 08:08:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170502005664/ <![CDATA[News - Metal Tiger and partner MOD Resources hit more “significant intersections” at Botswanan copper project ]]> http://www.proactiveinvestors.co.uk/companies/news/176791/metal-tiger-and-partner-mod-resources-hit-more-significant-intersections-at-botswanan-copper-project-176791.html Drilling results from Metal Tiger PLC’s (LON:MTR) Kalahari copper belt joint venture in Botswana has confirmed “significant intersections” directly below the current T3 resource.

Back in March, Metal Tiger and its partner MOD Resources (ASX:MOD) discovered the new zone below where they already know copper to be present.

Assay results from the four diamond drill holes received today have confirmed the initial findings.

Zone 3, which is 300 metres below the current T3 resource, may even be part of a “more extensive mineralised contact”, Metal Tiger said, although further drilling is required to determine the significance of this zone.

Two ‘significant’ anomalies

Elsewhere at the project, an induced polarisation (IP) geophysics study has identified “two significant anomalies” just to the north of T3, which are now high priority drill targets.

An airborne electromagnetics (EM) geophysics survey will also target other potential deposits, similar to the T3 deposit, along the T3 dome.

T3 project ‘ready to move up the value curve’

“With the closing of the £4.85m fund raising last week, and the institutional support for our Botswana JV, Metal Tiger is now in a strong position to move the T3 project and the surrounding exploration portfolio up the value curve,” said Metal Tiger chief executive Michael McNeilly.

“The recent drill assays continue to build out potential depth extensions to the T3 deposit whilst the findings of the recent IP geophysics study have identified a further two geophysical anomalies worthy of high priority drill testing.

“We are also excited by the prospect of trialling helicopter-borne electromagnetics geophysics to rapidly delineate conductive sulphide and structural related drill targets in the wider T3 Dome.”

Metal has a 30% stake in the Kalahari copper belt project, with the other 70% belonging to its partner, MOD Resources.

Shares were off 3% to 2.9p on Monday.  

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Mon, 24 Apr 2017 11:19:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/176791/metal-tiger-and-partner-mod-resources-hit-more-significant-intersections-at-botswanan-copper-project-176791.html
<![CDATA[RNS press release - Botswana Copper/Silver Project - T3 Drilling & IP Geophysics Results ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170424005628/ Mon, 24 Apr 2017 10:09:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170424005628/ <![CDATA[News - Metal Tiger placing raises £4.85mln in total, more than expected after extension ]]> http://www.proactiveinvestors.co.uk/companies/news/176724/metal-tiger-placing-raises-485mln-in-total-more-than-expected-after-extension-176724.html Metal Tiger PLC (LON:MTR)  said its private placement offering, run by Sprott Capital Partners has raised even more than expected, with gross proceeds of £4.85mln received by the closing date yesterday.

The AIM-listed strategic natural resources investor said the fundraise, the largest by the company to date, included a total of £4.39mln raised through Sprott – above the £4.29mln targeted – while a further £460,000 was raised through a placing and subscription of shares by the company.

The group said 161,666,666 new ordinary shares in Metal Tiger were placed at a price of 3p each, while 161,666,666 warrants to subscribe for 1,666,666 new ordinary shares were also issued at an exercise price of 6p per warrant, within a 5 year period.

READ: Metal Tiger extends placing closing date CLICK HERE: For a daily round-up of all the Proactive news

Meanwhile, Metal Tiger said bookrunner  Sprott will receive 4,850,000 Finder Warrants in Metal Tiger, equal to 3.0% of shares issued under the placing, permitting the purchase of one Warrant Share for five years from the offer closing date at a price of 3p per unit.

Upon exercise of a Finder Warrant, Sprott will also be entitled on a 1 for 1 basis to a 6p warrant with a 5 year validity which could see the private wealth group  entitled to a further 4,850,000 warrants at a 6p exercise price with a 5 year validity.

In late morning trading today, Metal Tiger shares were 7%, or 0.2p higher at 2.95p.

In a note to clients following today’s news, broker VSA Capital reiterated a ‘buy’ rating on Metal Tiger but reduced their target price for the stock by 17% to 4p to reflect the dilution from the placing.

In its statement, Metal Tiger said the placing included contributions from UK and international investors, with £460,000 coming from the UK, while the international funds primarily came from institutional investors.

Level of institutional support "extremely satisfying", says Metal Tiger boss

Michael McNeilly, Metal Tiger’s chief executive officer, said:  “The level of institutional support has been extremely satisfying and is demonstrable of the maturity and evolving nature of the business since the beginning of the financial year."

The cash call funds will be used for the company to advance its interests across its mining portfolio, but in particular for the T3 project  in the Kalahari Copper Belt in Botswana where Metal Tiger has a joint venture with MOD Resources.

McNeilly added: “Metal Tiger is now well positioned to advance its main direct project interests, in particular matching its important 30% contribution toward the JV in Botswana both in regards to further exploration and to the T3 project as it moves up the development curve through PFS, DFS and ultimately to a decision to mine.

“This raise also gives Metal Tiger greater comfort with regard to the spin out of its Thai assets.“

READ: Metal Tiger flags up potential resource upgrade

Metal Tiger first announced plans to raise some cash at the end of March, although it was only originally looking to generate £3mln, but it expanded that target and also extended the closing date for three days to April 20.

CLICK HERE: For a daily round-up of all the Proactive news ]]>
Fri, 21 Apr 2017 11:51:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/176724/metal-tiger-placing-raises-485mln-in-total-more-than-expected-after-extension-176724.html
<![CDATA[RNS press release - Sprott Private Placement Closes raising £4.85m - Replacement ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170421005220/ Fri, 21 Apr 2017 10:16:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170421005220/ <![CDATA[RNS press release - Sprott Private Placement Closes raising £4.85m ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170420006733/ Fri, 21 Apr 2017 07:46:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170420006733/ <![CDATA[News - Metal Tiger extends closing date for £4.29mln placing ]]> http://www.proactiveinvestors.co.uk/companies/news/176515/metal-tiger-extends-closing-date-for-429mln-placing-176515.html Metal Tiger PLC (LON:MTR) and its bookrunner Sprott Private Wealth have mutually agreed to push back the closing date of the recent £4.29mln private placement by three days to 20 April.

The natural resources investor reminded investors that the offering is conditional on certain conditions being met before the new date.

Should these conditions not be met before then, the offering may not happen and Metal may not raise the £4.29mln.

Metal Tiger first announced plans to raise some cash at the end of March, although it was only originally looking to generate £3mln.

READ MORE: Metal Tiger launches £3mln private placement Sign up to the Proactive newsletter and stay up to date with the latest company news

“Strong demand” for the shares meant the company actually managed to raise almost 50% more on the same terms.

The net proceeds from the offering will be used to fund Metal’s portion of its commitment to the 2017 budget for its joint venture project with Australian partner MOD Resources in the Kalahari Copper Belt in Botswana.

Any leftovers will be kept for working capital and general corporate purposes.

MTR shares shed 5% in early deals to 2.75p.

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Tue, 18 Apr 2017 08:42:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/176515/metal-tiger-extends-closing-date-for-429mln-placing-176515.html
<![CDATA[News - Mining investment specialist Metal Tiger flags up potential resource upgrade alongside latest drilling results from Botswana ]]> http://www.proactiveinvestors.co.uk/companies/news/175688/mining-investment-specialist-metal-tiger-flags-up-potential-resource-upgrade-alongside-latest-drilling-results-from-botswana-175688.html Mining investment specialist Metal Tiger PLC (LON:MTR) said drilling on its Botswana copper-silver project met with success that could lead to a resource upgrade.

The strike length of Zone 2, directly below the current T3 resource, has been extended to 700 metres, with the central core returning some impressive grades, including almost 73 metres at 1.5% copper and 27 grams per tonne silver.

The work also uncovered “significant disseminated” copper in Zone 2 and Zone 3, though the grade is yet to be determined.

“An upgrade to the resource is highly possible with the eagerly awaited assay results for the Zone 2 mineralisation and could significantly add to the already positive economics and de-risk a proposed open pit mining operation,” said Metal Tiger chief executive Michael McNeilly.

The company is a 30% shareholder in the Target 3, or T3 Project in Botswana with MOD Resources, which owns the remainder. Metal Tiger also owns around 4% of MOD.

T3 is host to a resource of 28mln tonnes at 1.24% copper and 15.7 grams per tonne of silver. This includes a high-grade core of 8.5mln tonnes at 2.16% copper and 31 grams of silver.

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Thu, 30 Mar 2017 11:34:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/175688/mining-investment-specialist-metal-tiger-flags-up-potential-resource-upgrade-alongside-latest-drilling-results-from-botswana-175688.html
<![CDATA[News - Metal Tiger raises bigger than expected £4.2mln from private placement by Sprott Private Wealth ]]> http://www.proactiveinvestors.co.uk/companies/news/175602/metal-tiger-raises-bigger-than-expected-42mln-from-private-placement-by-sprott-private-wealth-175602.html Metal Tiger PLC (LON: MTR) has raised a bigger than expected £4.29mln from a private placement undertaken by Canadian investment firm Sprott Private Wealth.

The natural resources investor said yesterday it had engaged Sprott to act as exclusive agent as part of a £3mln private placement of 100,000,000 units at a fixed price of 3p each.

Today Metal Tiger said, however, it has elected to accept £4.29mln on the same terms as announced yesterday.

Michael McNeilly, Metal Tiger’s chief executive officer said: “We are extremely pleased with the strong demand for this Offering, which was oversubscribed and brings new long term institutional shareholders on to the shareholder register.”

In reaction, Metal Tiger shares rose 5.5%, or 0.18p higher to 3.35p.

Metal Tiger said the net proceeds from the offering will be used to fund its portion of its commitment to the 2017 budget for its joint venture project with Australian partner MOD Resources in the Kalahari Copper Belt in Botswana, as well as for working capital and general corporate purposes.

Each unit in the offering consists of one ordinary share in the company and one ordinary share purchase warrant which will entitle the holder to acquire one other ordinary share at £0.06 for five years from the offer’s closing date.

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Wed, 29 Mar 2017 11:52:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/175602/metal-tiger-raises-bigger-than-expected-42mln-from-private-placement-by-sprott-private-wealth-175602.html
<![CDATA[News - Metal Tiger launches £3mln private placement via Canadian investment firm Sprott Wealth ]]> http://www.proactiveinvestors.co.uk/companies/news/175552/metal-tiger-launches-3mln-private-placement-via-canadian-investment-firm-sprott-wealth-175552.html Metal Tiger PLC (LON:MTR) has signed terms with Canadian investment firm Sprott Private Wealth to act as exclusive agent as part of a £3mln private placement by the natural resources investor.

The firm said the net proceeds from the offering will be used to fund Metal Tiger’s portion of its commitment to the 2017 budget for its joint venture project with Australian partner MOD Resources in the Kalahari Copper Belt in Botswana, as well as for working capital and general corporate purposes.

The terms of the offering will see 100,000,000 units in the company issued at a fixed price of £0.03 per unit, with institutional investors expected to subscribe for the majority of the placing.

Each unit will consist of one ordinary share in the company and one ordinary share purchase warrant which will entitle the holder to acquire one other ordinary share at £0.06 for five years from the offer’s closing date.

In reaction, Metal Tiger shares shot 7% higher, up 0.2p at 3.025p.

Michael McNeilly, Metal Tiger’s chief executive officer of Metal Tiger said: “We are extremely pleased to have attracted the attention of Sprott. Sprott Private Wealth LP and its affiliates, one of the leading North American natural resources investors, have recognised the exceptional quality of the T3 copper discovery in Metal Tiger’s Joint Venture with MOD Resources, as well as the highly prospective exploration potential of our other JV exploration licences.

“With this capital raise, we will be in a strong position to advance the T3 exploration and feasibility study programme with MOD Resources during 2017, and I look forward to providing our shareholders with further updates on progress.”

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Tue, 28 Mar 2017 14:45:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/175552/metal-tiger-launches-3mln-private-placement-via-canadian-investment-firm-sprott-wealth-175552.html
<![CDATA[Media files - Metal Tiger shares tipped to retest last summer’s highs ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/7149/metal-tiger-shares-tipped-to-retest-last-summers-highs-7149.html Thu, 23 Mar 2017 09:10:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/7149/metal-tiger-shares-tipped-to-retest-last-summers-highs-7149.html <![CDATA[News - Metal Tiger says fundraising will support exploration at Botswana copper project ]]> http://www.proactiveinvestors.co.uk/companies/news/175010/metal-tiger-says-fundraising-will-support-exploration-at-botswana-copper-project-175010.html Metal Tiger plc (LON:MTR) said a fundraising by Australian mining group MOD Resources Limited, in which it holds a stake, will be used to fund a substantial exploration programme in 2017.

The investor, focused in natural resources, said MOD raised $14.6mln in a share placement to institutions and professional traders.

The share placement, which was heavily oversubscribed, will be used to fund the extension of the T3 deposit in the Kalahari Copper Belt of Botswana.

WATCH: Zak Mir on Metal Tiger shares ....

Metal Tiger chief executive, Michael McNeilly, said: “We’re very pleased by the news today from MOD. This financing further validates the exceptional quality of the Botswana project and we are delighted that this raise will further accelerate the joint venture work program on the ground. We look forward to continuing our work with MOD on further exploration of the T3 copper project. ”

The company already had significant exploration success in 2017 with the discovery of multiple copper zones below the existing T3 resource.

Earlier this month, MOD announced an intersection of 72.6 metres at 1.5% copper and 27g/t silver, which included 18 metres at 2.7% copper and 52 g/t silver below the T3 deposit.

Metal Tiger has estimated the total cost of the project will be about US$135mln.

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Fri, 17 Mar 2017 16:16:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/175010/metal-tiger-says-fundraising-will-support-exploration-at-botswana-copper-project-175010.html
<![CDATA[News - Metal Tiger lines up a summer listing for Thai subsidiary ]]> http://www.proactiveinvestors.co.uk/companies/news/174921/metal-tiger-lines-up-a-summer-listing-for-thai-subsidiary-174921.html It’s looking like a summer IPO for the Thai mining interests currently held by Metal Tiger PLC (LON:MTR).

The plan, according to Metal Tiger’s chief executive Michael McNeilly, is to raise between £3 mln and £4 mln from investors in London and Asia, following the results of consulting work that will provide a detailed economic appraisal of the properties.

“We’re targeting an IPO in June or July,” he says.

“We’re going through the process of completing all the key reports. SRK is working on a Competent Person’s Report and reviewing the resource update. Hopefully the first draft of that will be done by the end of the month and then by late April we will be able to put out the economic numbers of the project.”

The primary assets are two underground silver-lead-zinc mines which were worked between 1978 and 2002, and for which considerable infrastructure remains in place, including a plant.

Because of this, the restart of the project will not be too capital intensive, and the main risk moves over to permitting.

Here, the implications of a new mining act that’s coming into force later in the year will have to be studied, but it’s worth noting that Thailand has had a relatively active mining industry, with tin in the south and continues to have active phosphates and aggregates mining elsewhere.

Metal Tiger itself has been in-country only a short while, but has always professed itself at ease working in Thailand. And he’s not the only one.

“There are a lot of mining people in Asia who are comfortable with how Thailand works,” says McNeilly.

So, with that in mind, and with the mining markets on the turn, it’s perhaps no surprise that Metal Tiger has just been able to secure just over £500,000 in pre-IPO money for KEMCO PLC, company that will be used as the listing vehicle.   

This pre-IPO money isn’t coming in just to turn a fast buck on listing. On the contrary, the deal was set up such that the new investors now have two sets of warrants, one to convert to shares at 20% below the listing price, but one which converts after at 50% higher than the listing price.

So there is both motivation and expectation of a strong performance, and it’s noticeable that Metal Tiger directors, including McNeilly are now on the KEMCO register with personal stakes.

But what will the company do once it’s come to the market?

“This is a brownfields site,” says McNeilly. “There’s exploration upside. There’s been no exploration at depth. It’s already a very advanced project.”

Indeed, back in 2013 independent consultants demonstrated that as a foundation, KEMCO could work to a combined NI 43-101 resource of 4.85 mln tonnes, comprising 2.9 mln tonnes of 3.57% lead, 2.82% zinc and 72.63 grams per tonne silver in the indicated category, with a further inferred resource of 1.96 mln tonnes grading 2.95% lead, 3.08% zinc and 49 grams silver.

This information will now be fed into the new calculations that are currently being put together.

A previous report published in 2013 mentions the previous capital cost estimate of US$13 mln, but McNeilly says that the company with SRK’s advice will be “revisiting” that figure.

“In April we will have an update that we can rely on,” he says.

After that there’ll be a concerted marketing campaign ahead of the listing.

Metal Tiger is likely to retain at least 51% of the newly listed vehicle, so existing shareholders will retain a significant part of the upside. But they’ll also be able to take some money off the table as a distribution in specie is planned.

After that the focus will turn more squarely onto the company’s copper assets in Southern Africa.  But that’s another story.

 

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Thu, 16 Mar 2017 12:09:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/174921/metal-tiger-lines-up-a-summer-listing-for-thai-subsidiary-174921.html