http://www.proactiveinvestors.co.uk Proactiveinvestors RSS feed en Fri, 20 Oct 2017 00:30:03 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Exercise of Warrants ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171019005561/ Thu, 19 Oct 2017 08:30:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171019005561/ <![CDATA[RNS press release - Investment Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171017005719/ Tue, 17 Oct 2017 08:20:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171017005719/ <![CDATA[News - Metal Tiger increases stake in Kingsgate Consolidated Limited ]]> http://www.proactiveinvestors.co.uk/companies/news/185630/metal-tiger-increases-stake-in-kingsgate-consolidated-limited-185630.html Metal Tiger Plc (LON:MTR) told investors that it has added more shares in Kingsgate Consolidated Limited (ASX:KCN).

It has purchased 430,000 shares at a price of 33 Australian cents, equivalent of 20p, per share. The transaction takes MTR’s stake up to 11.58mln shares, amounting to 5.18% of the Australian company.

Metal Tiger announced its first acquisition of Kingsgate shares, picking up a 4.99% stake for the equivalent of £354,544.

Kingsgate owns two key assets, the Chatree gold mine in Thailand the Nueva Esperanza silver old project in Chile.

At Nueva Esperanza the company is advancing a definitive feasibility study which is due in January, and it is talks with the Thai government with a view to reopening the Chatree mine (which closed in December).

KCN in the last financial year, ended June 30, made a comprehensive income of AU$8.33mln or £4.9mln, and had some £59.4mln of net assets.

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Mon, 16 Oct 2017 08:12:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/185630/metal-tiger-increases-stake-in-kingsgate-consolidated-limited-185630.html
<![CDATA[RNS press release - Investment Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20171016075947_13397330/ Mon, 16 Oct 2017 07:59:47 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20171016075947_13397330/ <![CDATA[News - Metal Tiger trades positively as it invests in Kingsgate ]]> http://www.proactiveinvestors.co.uk/companies/news/185572/metal-tiger-trades-positively-as-it-invests-in-kingsgate-185572.html Metal Tiger Plc (LON:MTR) shares traded positively on Friday after the group announced a new investment, into gold firm Kingsgate Consolidated Limited (ASX:KCN).

It has purchased 1.85mln shares for a total consideration of £354,544, giving it 4.99% of the Australia-listed company. The deal was covered by cash generated via asset disposals in its trading division.

READ: Metal Tiger and partner expand scope and scale of MOD copper project in Botswana

Kingsgate owns two key assets, the Chatree gold mine in Thailand the Nueva Esperanza silver old project in Chile.

At Nueva Esperanza the company is advancing a definitive feasibility study which is due in January, and it is talks with the Thai government with a view to reopening the Chatree mine (which closed in December).

KCN in the last financial year, ended June 30, made a comprehensive income of AU$8.33mln or £4.9mln, and had some £59.4mln of net assets.

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Fri, 13 Oct 2017 11:17:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/185572/metal-tiger-trades-positively-as-it-invests-in-kingsgate-185572.html
<![CDATA[RNS press release - Investment Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171013005221/ Fri, 13 Oct 2017 10:55:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171013005221/ <![CDATA[RNS press release - Director Warrant Conversion ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171011005584/ Wed, 11 Oct 2017 13:33:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171011005584/ <![CDATA[News - Metal Tiger and partner expand scope and scale of MOD copper project in Botswana ]]> http://www.proactiveinvestors.co.uk/companies/news/184961/metal-tiger-and-partner-expand-scope-and-scale-of-mod-copper-project-in-botswana-184961.html Drilling on Metal Tiger PLC’s (LON:MTR) copper joint venture in Botswana has intersected new zones of visible copper mineralisation 300 metres west and northeast of the planned pit.

In all, copper mineralisation now extends over a strike length of 1.5 kilometres and remains open.

READ: Metal Tiger identifies lots of undervalued miners

Operator MOD Resources (ASX:MOD) is continuing with work, with seven drill rigs now turning and diamond core drilling progressing well.

An ongoing prefeasibility study is now modelling a 2.5mln tonnes per year processing operation, up 25% on the numbers envisaged in the scoping study.

Excellent metallurgical testwork results received.

READ: Metal Tiger postpones Kemco IPO, updates on MOD

“Since drilling recommenced in August, the Tshukudu team have completed over 6,100 metres of drilling with a total of 19 diamond holes completed or in progress,” said Michael McNeilly, chief executive of Metal Tiger.

“Very excitingly, 50m wide zones of visible copper mineralisation have been logged in core from four holes drilled along strike from the current T3 Mineral Resource. We eagerly await the assay results from these holes, and other holes, which point to the potential for major strike and down-dip extensions to the current Resource.”

 

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Tue, 03 Oct 2017 07:59:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/184961/metal-tiger-and-partner-expand-scope-and-scale-of-mod-copper-project-in-botswana-184961.html
<![CDATA[RNS press release - Potential Major Strike Extension Botswana Copper/Silver Project T3 Deposit ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171002006653/ Tue, 03 Oct 2017 07:06:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171002006653/ <![CDATA[RNS press release - Botswana Copper/Silver Project – T3 Mineral Resource Estimate Upgraded - Replacement ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170922005451/ Fri, 22 Sep 2017 15:33:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170922005451/ <![CDATA[News - Metal Tiger identifies lots of undervalued miners ]]> http://www.proactiveinvestors.co.uk/companies/news/184451/metal-tiger-identifies-lots-of-undervalued-miners-184451.html Mining investor Metal Tiger PLC (LON:MTR) reported another strong rise in the value of its direct equities division in its latest half year.

There was a net gain on investments at the half year of £2.06mln (£2.14mln) with the value of the Direct Equities division at 30 June totalling £6.35mln.

Metal Tiger added it had identified a number of other undervalued listed mining companies and would exit some of its existing Direct Equities holdings if appropriate.

The junior is also directly involved in the Kemco project in Thailand, T3 in Botswana and Logrosan in Spain.

Earlier this week, Metal Tiger delayed the planned listing of Kemco, its silver-lead-zinc mines in Thailand, until the first quarter of 2018 due to uncertainty over how a new Thai Minerals Act will affect in-country operations.

Interim losses were £35,000 (£550,000 profit) while net assets per share rose to 1.07p (0.96p).

Shares were 11% higher today at 1.86p.

 

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Fri, 22 Sep 2017 14:39:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/184451/metal-tiger-identifies-lots-of-undervalued-miners-184451.html
<![CDATA[RNS press release - Half-year Report ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170922005312/ Fri, 22 Sep 2017 12:41:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170922005312/ <![CDATA[News - Metal Tiger postpones Kemco IPO, updates on MOD ]]> http://www.proactiveinvestors.co.uk/companies/news/184118/metal-tiger-postpones-kemco-ipo-updates-on-mod-184118.html Metal Tiger PLC (LON:MTR) is to delay the planned listing of its silver-lead-zinc mines in Thailand until the first quarter of 2018.

Underlying the decision is speculation as to how exactly the new Thai Minerals Act will affect in-country operations and how the Thai National Management Policy Committee will make decisions regarding special mining zones and economic plans.

Metal Tiger has had strong support for the IPO from family offices and a leading commodities trading house, but the feedback is more time is needed for assessment of the new mining regime in Thailand.

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

The company will write to pre-IPO investors requesting that they extend the conversion of their warrants beyond the agreed 13 October date.

Separately, Metal Tiger has appointed Natural Resources Global Capital Partners Limited to provide strategic and financial advice in connection with its 30% holding in the Botswanan joint venture with MOD Resources.

NRG will work alongside the Company’s existing natural resources specialist adviser, RFC Ambrian Limited.

READ: Metal Tiger says final CPR shows "material mineral" upgrade for its KEMCO Thai mines joint venture ]]>
Mon, 18 Sep 2017 07:46:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/184118/metal-tiger-postpones-kemco-ipo-updates-on-mod-184118.html
<![CDATA[RNS press release - Appointment of NRG – MOD Resources Strategic Options ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170917005059/ Mon, 18 Sep 2017 07:15:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170917005059/ <![CDATA[RNS press release - KEMCO PLC IPO update ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170917005053/ Mon, 18 Sep 2017 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170917005053/ <![CDATA[News - Metal Tiger appoints Paragon Partners as its advisor to attract local project financing for its Thai joint venture ]]> http://www.proactiveinvestors.co.uk/companies/news/183991/metal-tiger-appoints-paragon-partners-as-its-advisor-to-attract-local-project-financing-for-its-thai-joint-venture-183991.html Metal Tiger PLC (LON:MTR)  has appointed Bangkok based Paragon Partners as its advisor with regard to the consideration and execution of attracting local project financing for its Thai Joint Venture in relation to the two silver-lead-zinc mines in Kanchanaburi Province.

In a statement, the AIM-listed strategic natural resources said “the engagement would be novated to the proposed listco KEMCO PLC should an IPO of Metal Tiger’s Thai Joint Venture be realised.”

READ: Metal Tiger says direct benefit to Thai economy from its mining project is US$287.4mln

Paragon’s appointment will “enable the project to be known to the financial community in Thailand and provide strategic advice on the best approach for local project financing.”

The group noted that Paragon has provided solutions to more than 60 clients over a 20 year period, including many international clients and clients in the mining sector, with a combined transaction value of over US$3.0bn.

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Thu, 14 Sep 2017 12:09:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/183991/metal-tiger-appoints-paragon-partners-as-its-advisor-to-attract-local-project-financing-for-its-thai-joint-venture-183991.html
<![CDATA[RNS press release - Appointment of Paragon Partners ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170914005633/ Thu, 14 Sep 2017 11:04:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170914005633/ <![CDATA[News - Metal Tiger agrees exploration budget for Botswana project with JV partner MOD Resources ]]> http://www.proactiveinvestors.co.uk/companies/news/183308/metal-tiger-agrees-exploration-budget-for-botswana-project-with-jv-partner-mod-resources-183308.html Metal Tiger PLC (LON:MTR) said its copper and silver project in Botswana has continued to outperform its expectations as it agreed an exploration budget with joint venture partner MOD Resources.

The joint venture partners have decided on a budget of AUD$10mln for the year starting 1 October to fast-track the drilling of district-scale copper targets at the T3 project.

Metal Tiger will contribute 30% of the incurred costs in line with its stake in the project, up to a maximum of £1.85mln at current exchange rates.

The drilling programme, which includes up to 70 diamond drill holes, will target the 150km corridor within the highly prospective Kalahari Copper Belt that hosts T3. The focus is to bring T3 into production.

“The Botswana project has continued at every step to outperform our expectations and this decision to increase the exploration provision has been driven by our growing understanding of the potential of the Botswana Copper Belt, with the many exciting new copper targets identified over the past year and the encouraging results to date,” said chief executive Michael McNeilly.

“This is against a backdrop of growing copper prices, with copper currently at a 52-week high up almost 50% over the September 2016 low.”

The announcement comes a day after the company said it has raised its stake in MOD Resources to 5%. McNeilly said the increased investment in MOD reflected its confidence in the T3 project. 

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Fri, 01 Sep 2017 12:47:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/183308/metal-tiger-agrees-exploration-budget-for-botswana-project-with-jv-partner-mod-resources-183308.html
<![CDATA[RNS press release - Botswana Copper/Silver Project – Exploration Budget Agreed ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170901005200/ Fri, 01 Sep 2017 10:10:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170901005200/ <![CDATA[News - Metal Tiger raises stake in Botswana copper joint venture partner MOD Resources ]]> http://www.proactiveinvestors.co.uk/companies/news/183156/metal-tiger-raises-stake-in-botswana-copper-joint-venture-partner-mod-resources-183156.html Metal Tiger PLC (LON:MTR) has raised its stake in MOD Resources Ltd (ASX:MOD), its joint venture partner in the T3 exploration project in the Kalahari copper belt in Botswana.

The miner bought an additional 3,748,720 shares in MOD Resources for A$0.06157 each or a total of A$230,808, bringing its total shareholding to 5%. Metal Tiger previously held 91,795,214 shares valued at A$5.6mln and 1,541,667 warrants with an exercise price of A$0.06 expiring in April 2019.

READ: Mineral resource estimate upgraded at Metal Tiger’s Botswana copper JV

MOD Resources reported audited net assets of A$18.4mln and audited net loss of A$1.9mln for the year ended 31 December 2016.

“We are pleased to announce the increasing investment by the company in MOD Resources which takes us to over the 5% reportable threshold for the ASX market and reaffirms our confidence in the potential of the T3 Botswana asset,” said Metal Tiger's chief executive Michael McNeilly.

MOD Resources owns a 70% stake in the T3 project with Metal Tiger owning the rest.

READ: Metal Tiger says direct benefit to Thai economy from its mining project is US$287.4mln

Earlier this month Metal Tiger upgraded its mineral resource estimate for the project with a 27% increase in total resource tonnes and a 16% rise in contained copper, compared with the maiden resource estimate announced last September.

The revised, JORC compliant estimate comprises 36mln tonnes of ore: 1.14% copper and 12.8 grams per tonne of silver, with T3 containing about 409,000 tonnes of copper and 14.8mln ounces of silver.

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Wed, 30 Aug 2017 09:07:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/183156/metal-tiger-raises-stake-in-botswana-copper-joint-venture-partner-mod-resources-183156.html
<![CDATA[RNS press release - MOD Resources Investment Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170829005831/ Tue, 29 Aug 2017 16:14:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170829005831/ <![CDATA[News - Metal Tiger says direct benefit to Thai economy from its mining project is US$287.4mln ]]> http://www.proactiveinvestors.co.uk/companies/news/182997/metal-tiger-says-direct-benefit-to-thai-economy-from-its-mining-project-is-us2874mln-182997.html Metal Tiger PLC (LON:MTR) saw its shares rise after the natural resources investor gave a bulllish assessment of its Thai mining project, saying its direct benefit to the country’s economy is US$287.4mln.

In a statement today, the AIM-listed firm said a final revised economic contribution assessment was carried out by Five Corners Consulting for the assets in its Kemco joint venture for the Song-Toh and Boh-Yai silver-lead-zinc mines in Thailand.

READ: Mineral resource estimate upgraded at Metal Tiger’s Botswana copper JV

The group said the figures produced by Five Corners reflect the economic benefit for the projected mine life of 13 years.

Metal Tiger argued that the joint venture project will "generate external benefits beyond the financial returns" by developing Thailand's skill base through training of unskilled, semi-skilled and qualified employees, providing employment in rural areas, helping Thai firms develop new products, and by providing detailed land surveying data to the government.

The group’s chief executive Michael McNeilly said "We are delighted to confirm receipt of the economic contribution assessment highlighting the significant benefit that developing the Song-Toh and Boh-Yai silver-lead-zinc mines will bring to the country.

"We look forward to Kemco delivering the project and realising this contribution."

In afternoon trading, Metal Tiger shares were 2.4%, or 0.05p higher at 2.12p.

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Fri, 25 Aug 2017 14:07:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/182997/metal-tiger-says-direct-benefit-to-thai-economy-from-its-mining-project-is-us2874mln-182997.html
<![CDATA[RNS press release - Final KEMCO Economic Contribution Assessment ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20170825121957_13342396/ Fri, 25 Aug 2017 12:19:57 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20170825121957_13342396/ <![CDATA[News - Mineral resource estimate upgraded at Metal Tiger’s Botswana copper JV ]]> http://www.proactiveinvestors.co.uk/companies/news/182920/mineral-resource-estimate-upgraded-at-metal-tigers-botswana-copper-jv-182920.html Metal Tiger PLC (LON:MTR) revealed today that the mineral resource estimate for its T3 exploration project in the Kalahari copper belt in Botswana has been upgraded.

The natural resources investor said back in July that it expected to release a resource upgrade at some point during this month.

READ: Regulatory sign-off sees drilling resume at Metal Tiger’s Kalahari copper belt JV in Botswana 27% increase in total resource tonnes

The revised, JORC compliant estimate comprises 36mln tonnes of ore: 1.14% copper and 12.8 grams per tonne of silver, with T3 containing approximately 409,000 tonnes of copper and 14.8mln ounces of silver.

Overall, the upgrade constitutes a 27% increase in total resource tonnes and a 16% increase in contained copper, compared with the maiden resource estimate – announced last September – which has now been replaced.

Given that Metal Tiger has a 30% stake in the project – its JV partner MOD Resources owns the remaining 70% - its share of the project is 10.8mln tonnes containing 123,000 tonnes of copper and 4.4mln ounces of silver.

Metal added that 25% of the total resource tonnes – or 8.9mln tonnes – now sit in the more concrete measured resource category.

Another step towards prefeasibility study READ: Metal Tiger believes it has only scratched surface in Thailand and Botswana

“The revised mineral resource estimate is another important and positive step towards the anticipated T3 prefeasibility study and constitutes a significant upgrade to the project with a 27% increase in total resource tonnes and over 400,000 tonnes more contained copper,” said Metal Tiger chief executive Michael McNeilly.

“The 16% increase in contained copper has the potential to increase the value and profitability of a future mine, the potential value is further compounded by the circa 30% rise in copper price since the maiden resource was announced last September.

“With the current copper price now approaching the US$3/lb used for the upside case in the original T3 scoping study we released on 6 December 2016.

“The team will be looking to optimise the planned mining schedule and processing rates to maximise the future economics in the upcoming prefeasibility study.”

More upgrades on the way?

Another drill programme is currently underway with four rigs to test further resource extensions, underground potential and geophysical targets.

Metal said all six new holes completed to date have intersected significant visible copper mineralisation, results from which will be made public in due course.

Shares were down 4.4% to 2.15p in early deals.

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Thu, 24 Aug 2017 09:02:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/182920/mineral-resource-estimate-upgraded-at-metal-tigers-botswana-copper-jv-182920.html
<![CDATA[RNS press release - Botswana Copper/Silver Project – T3 Mineral Resource Estimate Upgraded ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170823006148/ Thu, 24 Aug 2017 07:07:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20170823006148/ <![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/