http://www.proactiveinvestors.co.uk Proactiveinvestors RSS feed en Wed, 13 Dec 2017 16:53:29 +0000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Information Memorandum in relation to Kingsgate ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20171212105040_13462377/ Tue, 12 Dec 2017 10:50:40 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20171212105040_13462377/ <![CDATA[News - Metal Tiger reports 'significant step' towards IPO of Thai mining joint venture ]]> http://www.proactiveinvestors.co.uk/companies/news/188526/metal-tiger-reports-significant-step-towards-ipo-of-thai-mining-joint-venture-188526.html Metal Tiger PLC’s (LON:MTR) said the approval of the first minerals management master plan by Thailand's National Minerals Management Committee (NMC) is a “significant step” in the planned flotation of its Thai joint venture.

The company in September had announced that it would delay the initial public offering (IPO) of its shares in the previously operational Song Toh and Boh Yai mines after investors called for it to be postponed to seek clarification on some aspects of the new Thai minerals act.

Metal Tiger had said it believed waiting for clarification of the first master plan would improve the valuation of the IPO, which is being delayed until the first quarter of 2018.

The master plan will now be presented to the Thai Cabinet for consideration, which is expected by the end of January.

If approved, the Thai joint venture’s mining licence applications over the two silver, lead and zinc mines will be designated as mineral deposit areas (MDAs) for mining. 

“As shareholders and potential investors will note from the announcement on 18 September 2017, the Master Plan and MDA status, in particular, was one of the key reasons for delaying the planned IPO,” chief executive Michael McNeilly said in a Friday statement.

“Whilst Cabinet sign-off is still required, the fact that the NMC has approved the Master Plan represents a significant step in the right direction for Metal Tiger’s Thai interests.”

Metal Tiger has a 78% interest in the Song-Toh and Boh-Yai mines, which ceased operations in 2002 after 32 years due to low metal prices.

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Fri, 08 Dec 2017 14:14:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/188526/metal-tiger-reports-significant-step-towards-ipo-of-thai-mining-joint-venture-188526.html
<![CDATA[RNS press release - Update on Minerals Management Master Plan ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171208005306/ Fri, 08 Dec 2017 13:50:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171208005306/ <![CDATA[RNS press release - Receipt of final GWRI & KEMCO Hydrogeology Study ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20171207105752_13457420/ Thu, 07 Dec 2017 10:57:52 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20171207105752_13457420/ <![CDATA[News - Metal Tiger reveals 'encouraging' initial results from mining study of T3 copper project ]]> http://www.proactiveinvestors.co.uk/companies/news/188414/metal-tiger-reveals-encouraging-initial-results-from-mining-study-of-t3-copper-project-188414.html Metal Tiger PLC (LON:MTR) said initial results from a mining study of the T3 copper project in Botswana have been “encouraging”.

The company said the study of the joint venture project with MOD Resources Limited supports the start of a 30-hole resource drilling programme targeting high-grade veins with underground mining potential.

READ: Metal Tiger urges dismissal of Kingsgate board in extraordinary meeting to be held in January

So far 45 drill holes at the T3 have returned significant vein hosted copper mineralisation intersections below, down-dip and along strike from the planned open pit.

"We are very encouraged by the initial findings of the T3 Underground Project investigations and the prospect that room-and-pillar underground mining of the high-grade copper/silver veins, developed simultaneously to the planned T3 Open-Pit mine could make a substantial contribution to the T3 profitability," said Metal Tiger chief executive Michael McNeilly.

READ: Metal Tiger details further progress at T3 copper project

"Sharing a planned central scalable processing plant at T3 between both the T3 surface and underground mining operations and possible neighbouring deposits is an attractive proposition in the precursory modelling."

The joint venture will work towards the release of a T3 scoping-study by mid-2018.

Thai report received for mine restart projects

In a separate statement, the company said it had received a final report from Groundwater Research Institute, at the Khon Kaen University in Thailand, in relation to the Song Toh and Boh Yai lead-zinc-silver projects.

It is part of a development plan designed to bring the two mines back online, following an IPO of the joint venture vehicle KEMCO Mining PLC.

The report - "Hydrogeology near the planned Underground Lead-Zinc Mining at Song Toh and Boh Yai areas in Kanchanburi Province" - is based on six months of field and lab work.

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Thu, 07 Dec 2017 07:20:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/188414/metal-tiger-reveals-encouraging-initial-results-from-mining-study-of-t3-copper-project-188414.html
<![CDATA[RNS press release - Statement re Botswana Copper/Silver Project – T3 Deposit: Underground Study Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171206006474/ Thu, 07 Dec 2017 07:02:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171206006474/ <![CDATA[News - Metal Tiger urges dismissal of Kingsgate board in extraordinary meeting to be held in January ]]> http://www.proactiveinvestors.co.uk/companies/news/188246/metal-tiger-urges-dismissal-of-kingsgate-board-in-extraordinary-meeting-to-be-held-in-january-188246.html Kingsgate Consolidated Limited (ASX:KCN) is to hold an extraordinary meeting of shareholders on 9 January 2018, following agitation from London’s Metal Tiger PLC (LON:MTR).

If Metal Tiger gets its way, a new board will be elected for Kingsgate at the meeting. Metal Tiger is Kingsgate's largest shareholder, with a 6.7 per cent interest.

WATCH: Metal Tiger takes aim at Australian miner Kingsgate Consolidated

Metal Tiger requested the Kingsgate shareholder meeting to remove all but one member of the board, and has proposed that five new directors be appointed, including three directors of Metal Tiger.

"We encourage shareholders to vote in favour of all resolutions to appoint a new board at Kingsgate," said Metal Tiger chief executive Michael McNeilly.

"We believe the proposed directors have the experience, expertise and relationships that can lead to the reopening of the Chatree gold mine, Kingsgate's only operating asset, and restore value." 

Metal Tiger acknowledges Kingsgate has successfully mined the higher-grade gold at Chatree to increase revenue and repay debt after its metallurgical licence was renewed for only six months.

READ: Metal Tiger rips into Kingsgate Consolidated and calls for boardroom coup

Key issues for consideration at the meeting will be the implications of the new Minerals Act, the draft Mineral Royalty Act, the draft Mineral Management Master Plan, the new Gold Policy and its impacts, licence status, litigation status - both locally and in Bangkok - community issues, environmental concerns, and Thai ownership concerns.

According to Metal Tiger, Kingsgate is going to need substantially more capital to finance its current strategy unless it is successful in obtaining a legal settlement.

McNeilly, however, spoke of interest from investors in Europe, North America, Asia and the Middle East to help finance a restart.

"But it is our view that such a strategy can only be implemented under a new Board given the bridges that have been burned by Kingsgate's incumbent directors. This is not about Metal Tiger gaining control of Kingsgate, this about change for the benefit of all shareholders," he said.

 

 

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Tue, 05 Dec 2017 07:51:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/188246/metal-tiger-urges-dismissal-of-kingsgate-board-in-extraordinary-meeting-to-be-held-in-january-188246.html
<![CDATA[RNS press release - Kingsgate Shareholder Meeting ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20171205070546_13453766/ Tue, 05 Dec 2017 07:05:46 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20171205070546_13453766/ <![CDATA[News - Metal Tiger details further progress at T3 copper project ]]> http://www.proactiveinvestors.co.uk/companies/news/187885/metal-tiger-details-further-progress-at-t3-copper-project-187885.html The T3 copper project in Botswana currently being worked in a joint venture between  MOD Resources (ASX:MOD) and Metal Tiger PLC (LON:MTR) has secured a further environmental approval for drilling to the north of the mineralisation.

Approval has also been granted for the construction of an accommodation camp outside Ghanzi.

WATCH: Metal Tiger takes aim at Australian miner Kingsgate Consolidated

And meanwhile, the broader Environmental Impact Assessment for the planned T3 mine is now underway.

All of which means that work for the pre-feasibility, which has been ongoing for some time, will shortly be complete.

READ: Metal Tiger sees growing potential outside previously-modelled T3 copper pit in Botswana

“We are delighted to report a number of important approvals which will allow the scope of the T3 project to broaden significantly,” said Michael McNeilly, chief executive Metal Tiger.

“We are particularly pleased that the T3 extension drilling application has been approved, allowing the JV to test the geophysics targets to the north of the T3 Deposit and effectively doubling the area of ground we are permitted to diamond drill.”

 

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Tue, 28 Nov 2017 08:05:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/187885/metal-tiger-details-further-progress-at-t3-copper-project-187885.html
<![CDATA[RNS press release - Botswana Copper/Silver Project T3 Deposit: Environmental Approvals & Prefeasibility Study Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171127006100/ Tue, 28 Nov 2017 07:26:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171127006100/ <![CDATA[RNS press release - Exercise of Warrants ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171124005116/ Fri, 24 Nov 2017 12:02:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171124005116/ <![CDATA[RNS press release - Submission of Members Statement to Kingsgate ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20171122150526_13440846/ Wed, 22 Nov 2017 15:05:26 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20171122150526_13440846/ <![CDATA[RNS press release - Exercise of Warrants ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171122005273/ Wed, 22 Nov 2017 12:38:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171122005273/ <![CDATA[RNS press release - Share Issue ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171116005589/ Thu, 16 Nov 2017 09:33:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171116005589/ <![CDATA[Media files - Metal Tiger takes aim at Australian miner Kingsgate Consolidated ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/8374/metal-tiger-takes-aim-at-australian-miner-kingsgate-consolidated-8374.html Thu, 16 Nov 2017 08:02:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/8374/metal-tiger-takes-aim-at-australian-miner-kingsgate-consolidated-8374.html <![CDATA[RNS press release - Change at Kingsgate Consolidated Limited ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20171115094035_13432256/ Wed, 15 Nov 2017 09:40:35 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20171115094035_13432256/ <![CDATA[News - Metal Tiger rips into Kingsgate Consolidated and calls for boardroom coup ]]> http://www.proactiveinvestors.co.uk/companies/news/187285/metal-tiger-rips-into-kingsgate-consolidated-and-calls-for-boardroom-coup-187285.html Metal Tiger plc (LON:MTR) has slammed the board of Aussie miner Kinsgate Consolidated and called a meeting to replace all but one of the directors.

Michael McNeilly, Metal Tiger’s chief executive, said: “KCN is in urgent need of board renewal.

“The incumbent board has overseen a massive destruction of shareholder value and failed to articulate a clear strategy going forward.

READ: Metal Tiger increases shareholding in Kingsgate

“The board of Metal Tiger shares the view that they are not the right team to lead KCN in its current situation."

Metal Tiger has recently buit up a 6.7% stake in Kingsgate, which has lost more than 90% of its value over the past five years.

Thailand's only gold mine

Kingsgate owns the Chatree mine 200 miles north of Bangkok in Thailand, which has just had a suspension order from the Thai government lifted.

Chatree is Thailand’s only operating gold mine but has faced complaints from local residents over a number of environmental and health issues.

The Thai authorities suspended operations at the mine at the end of 2016, but lifted the ban in August.

According to reports in Bloomberg, restarting the mine is expected to cost over US$50mln.

Call to change board

Company law in Australia allows a shareholder with 5% of the votes to request that the board of KCN convene and hold the shareholder meeting.

Kingsgate’s board has 21 days to call the meeting, which has to be held within two months of the initial request.

Metal Tiger wants five new directors appointed to the KCN board including three of its directors: Michael McNeilly; Terry Grammer; and Mark Potter plus two independents it has nominated: Richard Warburton and Neville Bergin.

“Metal Tiger has decided to take this action in order to both preserve and enhance the value of its shareholding,” McNeilly added.

The Aim-listed group is developing its own mine in Thailand, the Kemco silver-lead-zinc project, which it is hoping to list separately..

In a later statement, McNeilly spelt out the reasons why it had called the meeting

In particular, it highlighted the  closure of Chatree, the long running dispute over Chatree's closure and the inability to reach a satisfactory resolution; the breakdown of relations with the Thai authorities and that Kingsgate had become a 'finance-hungry litigation and exploration and development company'.

The only director Metal Tiger has not called to remove is Peter Alexander, who has considerable mining industry experience, can positively contribute to the new board it said.

It added that Neville Bergin is a mining engineer with extensive experience accumulated over four decades in the mining industry, while Richard Warburton is one of Australia's most experienced board members. 

He has chaired or been director of public, private and government boards including a chief executive of Dupont Australia and New Zealand.

--adds more detail-- 

 

 

 

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Wed, 15 Nov 2017 08:30:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/187285/metal-tiger-rips-into-kingsgate-consolidated-and-calls-for-boardroom-coup-187285.html
<![CDATA[RNS press release - Investment Update – Request for Shareholder Meeting at Kingsgate Consolidated Limited for Potential Board Changes ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171114006817/ Wed, 15 Nov 2017 07:30:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171114006817/ <![CDATA[News - Metal Tiger sees growing potential outside previously-modelled T3 copper pit in Botswana ]]> http://www.proactiveinvestors.co.uk/companies/news/187209/metal-tiger-sees-growing-potential-outside-previously-modelled-t3-copper-pit-in-botswana-187209.html Metal Tiger PLC (LON:MTR) has highlighted recent drill results from its T3 copper joint venture in Botswana with MOD Resources Limited (ASX:MOD).

Drill core assays returned from along strike from the planned T3 open pit show high-grade vein intersections, which appear to be continuous over an enlarged 1,400m strike length.

READ: Metal Tiger issues warrants in relation to KEMCO deal

Among the highlights were 4.5 metres at 4.0% copper and 65 grams per tonne silver from 254 metres depth, and 11 metres at 1.5% copper and 19 grams silver from 186 metres.

READ: Metal Tiger increases shareholding in Kingsgate

What’s more, recent re-interpretation of Airborne Electromagnetic geophysics data with three-dimensional modelling suggests the 200-300 metre thick T3 mineralisation host sequence may continue along strike for up to 11km.

Drilling to test this model has commenced.

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Tue, 14 Nov 2017 08:08:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/187209/metal-tiger-sees-growing-potential-outside-previously-modelled-t3-copper-pit-in-botswana-187209.html
<![CDATA[RNS press release - Botswana Copper/Silver Project – Growing Potential Outside Existing Planned Pit ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171113006540/ Tue, 14 Nov 2017 07:19:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171113006540/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171113005948/ Mon, 13 Nov 2017 16:24:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171113005948/ <![CDATA[RNS press release - Exercise of Warrants ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171107006844/ Wed, 08 Nov 2017 07:00:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171107006844/ <![CDATA[News - Metal Tiger issues warrants in relation to KEMCO deal ]]> http://www.proactiveinvestors.co.uk/companies/news/186795/metal-tiger-issues-warrants-in-relation-to-kemco-deal-186795.html Metal Tiger PLC (LON:MTR) said agreement has been reached to extend the deadline for the conversion of warrants related to the proposed flotation of its KEMCO Mining joint venture.

The new deadline is February 28 but the conversion could be triggered before then should the proposed initial public offering go ahead before that date .

READ: Metal Tiger believes it has only scratched surface in Thailand and Botswana READ: Metal Tiger says direct benefit to Thai economy from its mining project is US$287.4mln

As the IPO did not take place by October 13, under the terms of a funding agreement, 310,000 warrants have already been converted into Metal Tiger shares at a 1.95p, resulting in 1,038mln Metal Tiger shares being in issue; that leaves another 204,500 warrants awaiting conversion.

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Mon, 06 Nov 2017 11:16:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/186795/metal-tiger-issues-warrants-in-relation-to-kemco-deal-186795.html
<![CDATA[RNS press release - Share Issue ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171106005606/ Mon, 06 Nov 2017 09:50:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171106005606/ <![CDATA[News - Metal Tiger increases shareholding in Kingsgate ]]> http://www.proactiveinvestors.co.uk/companies/news/186342/metal-tiger-increases-shareholding-in-kingsgate-186342.html Metal Tiger Plc (LON:MTR) has increased its shareholding in Kingsgate Consolidated Limited (ASX:KCN) to 14.87mln shares, representing 6.65% of the company.

Earlier this month, the company took a 5.18% stake in the Australian company which has two key assets, the Chatree gold mine in Thailand the Nueva Esperanza silver old project in Chile.

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Fri, 27 Oct 2017 09:34:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/186342/metal-tiger-increases-shareholding-in-kingsgate-186342.html
<![CDATA[RNS press release - Investment Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171027005226/ Fri, 27 Oct 2017 08:29:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171027005226/ <![CDATA[News - Metal Tiger sells entire shareholding in Greatland Gold, CEO steps down as director of the miner ]]> http://www.proactiveinvestors.co.uk/companies/news/186183/metal-tiger-sells-entire-shareholding-in-greatland-gold-ceo-steps-down-as-director-of-the-miner-186183.html Metal Tiger PLC (LON:MTR) has sold its entire shareholding in fellow AIM-listed Greatland Gold plc (LON:GGP) and the natural resources investor’s chief executive has stepped down as a non-executive director of the miner.

In a statement, Greatland said Michael McNeilly has stepped down from its board with immediate effect.

READ: Metal Tiger reports new assays from T3 copper deposit

McNeilly was appointed to Greatland's board in February this year after Metal Tiger bolstered its stake in the business in late January by converting warrants.

However, Metal Tiger’s shareholding has been significantly diluted since that conversion which saw it own 87.0mln shares, or a 5.2% stake in Greatland.

Greatland's issued share capital having grown by around 564mln shares since then, Metal Tiger's holding has been diluted down to 3.811%, and the investor revealed today that it has sold the whole stake and now no longer holds any interest in the miner.

Greatland’s chairman Alex Borrelli said: “The board of Greatland greatly appreciates both the financial and strategic support that we have received from Metal Tiger over the past 18 months.”

He added: "Greatland will continue to monitor the size and composition of its board as the company continues to evolve and intends to appoint an additional non-executive director at some point in the future.

READ: Greatland Gold confirms significant additional gold potential at Panorama

Metal Tiger's original investment in Greatland and the appoint of its CEO to the board came after the pair signed a deal in November 2016 to explore and cooperate on new opportunities in the precious metals and strategic base metals sectors - with a primary focus on Australia and Asia.

That deal was for an initial 12 months - to November 2017 - which could be extended of both parties agreed, but neither firm has so far posted any recent update on the partnership.

In late morning trading, Metal Tiger shares were up 3.2% at 2.42p, while Greatland shares dropped 16.8% to 1.94p having surged around 200% higher last week following some upbeat exploration news.

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Wed, 25 Oct 2017 11:06:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/186183/metal-tiger-sells-entire-shareholding-in-greatland-gold-ceo-steps-down-as-director-of-the-miner-186183.html
<![CDATA[News - Metal Tiger reports new assays from T3 copper deposit ]]> http://www.proactiveinvestors.co.uk/companies/news/186094/metal-tiger-reports-new-assays-from-t3-copper-deposit-186094.html Drill core assays from 10 recent drill holes have confirmed that mineralisation at the T3 copper project in Botswana extends well outside the planned open-pit.

T3 is jointly owned by Metal Tiger PLC (LON:MTR) and MOD Resources of Australia.

READ: Metal Tiger increases stake in Kingsgate Consolidated Limited

Assays are pending for a further 8 drill holes, including those which intersected mineralisation at the previous western and eastern limits of drilling at T3, 

Potential significant underground targets have been outlined by stacked high grade vein assays which are currently interpreted to be continuous over at least 1.1km of strike length.

Meanwhile, a drill hole currently in progress has intersected two visible bornite/chalcocite vein zones approximately 300 metres northeast of the planned pit.

Among the highlights from the recent drilling were 12 metres at 1.1% copper and 14 grams per tonne silver from 235 metres, including 5 metres at 1.6% copper and 31 grams silver.

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

“We are excited to report that drill core assays received from the latest phase of drilling at the T3 Deposit in Botswana, have confirmed the presence of high-grade stacked vein copper mineralisation striking over at least 1.1km, which may hold strong potential for extending the open potential around the currently planned open-pit,” said Michael McNeilly, chief executive of Metal Tiger.

 

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Tue, 24 Oct 2017 08:42:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/186094/metal-tiger-reports-new-assays-from-t3-copper-deposit-186094.html
<![CDATA[RNS press release - Botswana Copper/Silver Project – T3 Deposit Drilling Assay Results ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171023006590/ Tue, 24 Oct 2017 07:33:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20171023006590/ <![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/