http://www.proactiveinvestors.co.uk Proactiveinvestors RSS feed en Thu, 21 Jun 2018 20:37:18 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Metal Tiger shares rise as it hits more copper to the west of the well-established T3 project in Botswana ]]> http://www.proactiveinvestors.co.uk/companies/news/198670/metal-tiger-shares-rise-as-it-hits-more-copper-to-the-west-of-the-well-established-t3-project-in-botswana-198670.html Metal Tiger PLC (LON:MTR) shares rose on Tuesday after the group said that it and joint venture partner MOD Resources have intersected copper mineralisation in the first drillhole at the A4 Dome target, the first of seven ‘buried domes’ that will be drilled within the T3 Dome Complex in Botswana.

A4 Dome is around five kilometres long and is located six kilometres west of the now well-established T3 Project.

READ: Metal Tiger retains focus on Kalahari copper belt amidst rapid activity

Drilling on the first hole is currently ongoing with the current depth at 490 metres and the extracted drill core still requires detailed geological logging, sampling and assay results before the significance of the copper mineralisation can be fully determined.

Two additional drill rigs are being deployed to test other targets within the more structurally complex core of the A4 Dome to the west.7

“It is highly encouraging that the first drill hole to drilled at the A4 Dome has intersected copper mineralisation, similar to T3, as predicted by the electromagnetic geophysics data modelling and interpretation,” said Michael McNeilly, chief executive of Metal Tiger.

Ina note to clients, analysts at RFC Ambrian said: “This announcement is yet another reminder of the prospectivity of the exploration package that the JV controls along 200km of the Kalahari Copper Belt.”

The City broker reiterated a ‘buy’ rating and 3.6p target price on the stock.

In morning trading, Metal Tiger shares were 2% higher at 2.6p.

 -- Adds analysts comment, share price --

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Tue, 12 Jun 2018 07:45:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/198670/metal-tiger-shares-rise-as-it-hits-more-copper-to-the-west-of-the-well-established-t3-project-in-botswana-198670.html
<![CDATA[RNS press release - Botswana Copper/Silver Project Copper Confirmed at New A4 Dome Target ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180611006355/ Tue, 12 Jun 2018 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180611006355/ <![CDATA[Media files - Metal Tiger looks to acquire up to 50% of Botswanan focused Kalahari Metals ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/9466/metal-tiger-looks-to-acquire-up-to-50-of-botswanan-focused-kalahari-metals-9466.html Wed, 06 Jun 2018 13:41:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/9466/metal-tiger-looks-to-acquire-up-to-50-of-botswanan-focused-kalahari-metals-9466.html <![CDATA[News - Metal Tiger higher on plans to acquire up to 50% of Botswanan-focused explorer Kalahari Metals ]]> http://www.proactiveinvestors.co.uk/companies/news/198335/metal-tiger-higher-on-plans-to-acquire-up-to-50-of-botswanan-focused-explorer-kalahari-metals-198335.html Metal Tiger PLC (LON:MTR) shares gained on Wednesday after news it has signed a binding investment agreement to acquire up to 50% of Botswanan- focused explorer Kalahari Metals Limited (KML) for a total consideration of US$1.6mln.

The AIM-listed company said it has exercised the first option under the agreement and is to be issued 18% of the enlarged share capital of KML for a total consideration of US$600,000. And the company will also appoint two non-executive directors to the board of KML. 

WATCH: Metal Tiger looks to acquire up to 50% of Botswanan focused Kalahari Metals

Metal Tiger said KML is a privately owned company and holds interests in seven highly prospective exploration licences covering 4,063km2  in the Kalahari Copper Belt, consisting of two 100% owned exploration licences and five exploration licences subject to a binding earn-in agreement with Triprop Holdings Limited.

Michael McNeilly, chief executive officer of Metal Tiger, said: ”The signing of this deal with Kalahari Metals Limited follows 3 months of substantial corporate and technical due diligence and is a further exciting milestone in Metal Tiger’s continuing involvement in a world-class copper region in Botswana.”

He added: “Based on our initial discussions, key focus will be to conduct geophysics and soil geochemical surveys to identify high priority targets for drilling as well as commence work on the environmental management plans for areas likely to be of interest for drilling in the near term.

Shares rise

In mid-morning trading, Metal Tiger shares were nearly 2% higher at 2.6p.

City broker RFC Ambrian reiterated its ‘buy’ rating and 3.6p target price on Metal Tiger.

In a note to clients, its analysts said: “Through this transaction Metal Tiger is increasing its exposure to the prospective Kalahari Copper Belt and thereby its optionality.

“It is earning into a large portfolio of early-stage exploration licences that are along-strike from the established resources at its own JV with MOD Resources and those of the private Cupric Canyon.

“The results of the three holes announced from Triprop’s scout drilling programme indicate the presence of mineralisation, and we await further news of the planned exploration with interest.”

 -- Adds shares price, analyst comment --

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Wed, 06 Jun 2018 07:32:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/198335/metal-tiger-higher-on-plans-to-acquire-up-to-50-of-botswanan-focused-explorer-kalahari-metals-198335.html
<![CDATA[RNS press release - Investment in Kalahari Metals Limited ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180605006811/ Wed, 06 Jun 2018 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180605006811/ <![CDATA[News - Metal Tiger highlights “a year of great progress” ]]> http://www.proactiveinvestors.co.uk/companies/news/198011/metal-tiger-highlights-a-year-of-great-progress-198011.html Mining and natural resources investor Metal Tiger PLC (LON:MTR) has released results for what it described as “a year of great progress”.

In the statement, for the 12 months ended December 31, the company highlighted investment gains of £5.45mln (including both realised and unrealised), and, it increased net cash by £1.45mln.

READ: Metal Tiger completes infill and extension programme drilling at T3

Net current assets amounted to £12.6mln, up from £5.6mln at the end of the preceding year.

“We closed the year concentrating on advancing our core projects with a stronger working capital position,” said Michael McNeilly, Metal Tiger chief executive.

“Progress in the first half of 2018 has been encouraging with the publication by the Botswanan Joint Venture of a PFS that supports the decision to progress towards a Definitive Feasibility Study which is expected to be completed in early 2019.

“Several drill results have also been published and these will be fundamental to the generation of a robust DFS.

“Furthermore, environmental permissions have recently been obtained to drill at the T3 Dome and a Phase 1 drill campaign of circa 60 planned diamond drill holes is already underway on several key AEM targets.”

McNeilly added: “There is real industry interest in the potential of the Kalahari Copper Belt following MOD/MTR’s success with T3 and the recommencement of exploration. We also await with much anticipation the environmental approvals to drill at T20.

“There is significant industry interest that the Kalahari Copper Belt could develop into a copper district which could support significant amounts of economic copper production in the future. It is of course still very early days in terms of exploration.”

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Thu, 31 May 2018 11:39:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/198011/metal-tiger-highlights-a-year-of-great-progress-198011.html
<![CDATA[RNS press release - Audited results for the year ended 31 December 2017 ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180531005595/ Thu, 31 May 2018 11:17:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180531005595/ <![CDATA[News - Metal Tiger completes infill and extension programme drilling at T3 (Motheo) Pit resource ]]> http://www.proactiveinvestors.co.uk/companies/news/197624/metal-tiger-completes-infill-and-extension-programme-drilling-at-t3-motheo-pit-resource-197624.html Metal Tiger PLC (LON:MTR) said its joint venture project with MOD Resources Limited (ASX:MOD) has completed drilling for an infill and extension programme for its T3 (Motheo) Pit resource, with the assays received to date in line with expectations.

The AIM-listed natural resources investor said in an announcement that it had commenced a geotechnical drilling programme for an expansion case at the T3 (Motheo) Pit resource, located in Botswana, with 8 geotechnical holes planned.

READ: Metal Tiger hails start of major drilling campaign at T3 dome complex

Metal Tiger added that the programme objective is to convert current inferred resources to the indicated and measured resource category and extend the total mineral resource to support the expansion case model for the prefeasibility study.

The firm also said that consultants CSA Global had completed a site visit as part of their engagement to complete the revised mineral resource estimate for the T3 Project which is expected in June this year.

The news follows an announcement earlier this month when the company said it had commenced a major drilling programme at the T3 Dome complex in the Kalahari copper belt in Botswana.

In early morning trading Thursday, Metal Tiger shares were up 2% at 2.5p.

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Thu, 24 May 2018 08:55:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/197624/metal-tiger-completes-infill-and-extension-programme-drilling-at-t3-motheo-pit-resource-197624.html
<![CDATA[RNS press release - Botswana Copper/Silver Project – T3 Drilling Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180523006632/ Thu, 24 May 2018 07:06:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180523006632/ <![CDATA[News - Metal Tiger hails start of major drilling campaign at T3 dome complex ]]> http://www.proactiveinvestors.co.uk/companies/news/197001/metal-tiger-hails-start-of-major-drilling-campaign-at-t3-dome-complex-197001.html A major drilling programme has commenced at the T3 Dome complex on the Kalahari copper belt in Botswana, Metal Tiger PLC (LON:MTR) revealed.

The company has a 30% stake in the joint venture (JV) that is exploring the copper/silver project.

READ: Metal Tiger retains focus on Kalahari copper belt amid rapid activity​

Metal Tiger said airborne electromagnetic (AEM) geophysics interpretation points to a series of large conductive domes, spread over a wide area. The complex has similar geometries and internal structures to the T-Rex Dome that underlies the T3 deposit.

In the drilling campaign, seven buried domes will initially be drilled, with around 60 drill holes planned for phase one of the campaign.

Metal Tiger added that drilling is in progress at the A4 dome, which is eight kilometres (km) west of the T3 deposit, and at the A1 dome, which is 20 km north-east of T3.

“Using the latest data processing and interpretation techniques the JV’s geophysical contractors have identified a series of prospective structural dome targets within the, 1,000km2, T3 Dome complex,” said Michael McNeilly, the chief executive officer of Metal Tiger.

“With cross-sectional profiles similar to the T-Rex dome, the feature associated with the T3 deposit, these new domes will now be drill tested to confirm they coincide with the favourable geological units and structures associated with the T3 mineralisation. This new drilling programme has the potential to deliver a pipeline of exciting results and hopefully additional T3 type deposits,” he added.

Julian Hanna, managing director of MOD Resources, the majority partner in the JV, said the new drilling targets were “compelling”.

“What is extraordinary is that the EM [electromagnetic] interpretation appears to have defined seven large 'buried' conductive domes, several with very similar geometries and internal structures to the T-Rex Dome which underlies T3,” Hanna said.

Shares in Metal Tiger were up 1.2% at 2.18p.

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Tue, 15 May 2018 10:02:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/197001/metal-tiger-hails-start-of-major-drilling-campaign-at-t3-dome-complex-197001.html
<![CDATA[RNS press release - Metal Tiger Plc: Botswana Copper/Silver Project – Major Drilling Campaign Commences at T3 Dome ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180514006541/ Tue, 15 May 2018 07:41:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180514006541/ <![CDATA[RNS press release - Issue of Equity ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180424005698/ Tue, 24 Apr 2018 09:56:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180424005698/ <![CDATA[News - Metal Tiger submits application for drilling around T20 Dome complex ]]> http://www.proactiveinvestors.co.uk/companies/news/195012/metal-tiger-submits-application-for-drilling-around-t20-dome-complex-195012.html Metal Tiger PLC (LON:MTR) has submitted an application for an environmental management plan (EMP) for drilling at its T20 Dome complex in Botswana.

The AIM-listed miner said the application, lodged with the Botswana Department of Environment Affairs (DEA), would cover drilling around a circa 697 square kilometre area.

READ: Botswana grants permission for drilling on 680 square kilometre T3 Dome area jointly owned by Metal Tiger and MOD Resources

Metal Tiger added that the EMP would allow the drilling of new and existing strike targets identified along a 140 kilometre long strike of the Central Structural Corridor.

An additional airborne electromagnetic (EM) geophysics survey covering 939 square kilometres is also planned to commence at the site in mid-2018, to link up with previous EM trail survey blocks over the centre of the T20 Dome.

The news comes following the approval of an EMP at the group’s T3 Dome complex on 3 April 2018, which expanded the drilling area available there to 680 square kilometres.

Michael McNeilly, chief executive of Metal Tiger, commented: “The submission of the EMP for the T20 Dome will, where awarded, provide access to important strategic ground for the JV and open up an additional 697km2 of under explored and prospective Kalahari copper belt for drilling.

He added: “Opening the T20 Dome for drilling will allow the possibility of adding to a pipeline of confirmed copper targets whilst we move the T3 Resource through the mine feasibility study process. With the recently awarded T3 Dome EMP, drilling is planned to commence at the T3 Dome in May, and we look forward to the prospect of exciting drill intersections.”

Metal Tiger shares were steady at 1.98p in early trading Monday.

--Adds share price--

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Mon, 16 Apr 2018 07:22:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/195012/metal-tiger-submits-application-for-drilling-around-t20-dome-complex-195012.html
<![CDATA[RNS press release - Botswana Copper/Silver Project EMP Submitted for Drilling T20 Dome ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180415005141/ Mon, 16 Apr 2018 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180415005141/ <![CDATA[News - Metal Tiger retains focus on Kalahari copper belt amidst rapid activity ]]> http://www.proactiveinvestors.co.uk/companies/news/194971/metal-tiger-retains-focus-on-kalahari-copper-belt-amidst-rapid-activity-194971.html The fact that it seemingly never stops moving means it can be difficult to pin down what is going on at Metal Tiger PLC (LON:MTR).

However, throughout the last few months there has been one consistent story, that of its T3 copper and now silver project in Botswana.

READ: Botswana grants permission for drilling on 680 square kilometre T3 Dome area jointly owned by Metal Tiger and MOD Resources

The deposit, in which Metal Tiger holds a 30% stake, is a joint venture with Australian miner MOD Resources Ltd (ASX:MOD) and sits in the Kalahari copper belt that extends from northern Botswana into Namibia.

A Pre-Feasibility Study (PFS) Base Case in January for the T3 Open Pit indicated an estimated US$730mln of underlying earnings (EBITDA) over 9 years, which rises to US$1.1bn over 12 years.

The PFS also indicated a net pre-tax cashflow of US$530mln, inclusive of development capital, annual free cash flow of US$77mln before tax from the start of production and a payback from production start of 2.7 years.

In its conclusion, the PFS stated that T3 offers “a low-risk, low capital pathway to copper production supported by improving confidence in the long-term consensus copper price”.

Michael McNeilly, Metal Tiger’s chief executive said: “The fact that the JV has taken from discovery to a very robust PFS in little more than twenty-two months is tantamount to the level of work and commitment all the stakeholders have put in to the project.

Next steps at T3

A fuller feasibility study is next for the project, with drill targets around the T3 Dome including an initial 10 high priority untested Airborne Electromagnetic geophysics anomalies that are thought to be related to lithological formation conductors.

The project has also received approval for its Environmental Management Plan from the Botswanan government, expanding the available drilling area within the T3 Dome to around 680 square kilometres.

At the same time, it added that a major regional exploration programme is also underway focussing on targets outside the T3 area – testing areas such as the ‘T3 Dome’, ‘T20 Dome’ and ‘T Rex’ targets.

The plan is to replicate the approach taken in the discovery of the T3 Open Pit area such as soil sampling, geophysics & drill testing.

Metal Tiger’s stake in T3 is held both directly through the joint venture and indirectly through a holding in MOD, where the size of the stake has recently risen to a little over 6%, worth around A$6.1mln (£3.34mln). 

Kingsgate

T3‘s importance to the group has grown after its plans for Kingsgate were rejected by the Aussie group’s shareholders.

In January, the group sold its remaining shares in Kingsgate raising A$3.4mln in the process.

Thailand on hold

The firm has also shelved plans for an initial public offering of its Thai joint venture at the Song Toh and Boh Yai mines, citing uncertainty over development plans.

Asset trading

In addition to its direct investments, the company also has an asset trading division. In February the company acquired a 4.23% stake, worth around £127,746, in Connemara Mining Company PLC (LON:CON) in a private placing.

Metal Tiger also has an almost 11% stake, worth around £1.6mln, in Thor Mining PLC (LON:THR), with chief executive Michael McNeilly saying: “We like tungsten as a play…they’ve got an excellent team there”.

As of 13 April 2018, Metal Tiger is worth £21.63mln.

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Fri, 13 Apr 2018 15:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/194971/metal-tiger-retains-focus-on-kalahari-copper-belt-amidst-rapid-activity-194971.html
<![CDATA[RNS press release - Additional Investment into MOD Resources Limited ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180410005828/ Tue, 10 Apr 2018 11:50:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180410005828/ <![CDATA[News - Botswana grants permission for drilling on 680 square kilometre T3 Dome area jointly owned by Metal Tiger and MOD Resources ]]> http://www.proactiveinvestors.co.uk/companies/news/194119/botswana-grants-permission-for-drilling-on-680-square-kilometre-t3-dome-area-jointly-owned-by-metal-tiger-and-mod-resources-194119.html The Botswana Department of Environmental Affairs (DEA) has approved the Environmental Management Plan (EMP) for a drilling campaign to test numerous high priority targets along the 50km long T3 Dome, a project 30%-owned by Metal Tiger PLC and 70% owned by MOD Resources.

The T3 Dome EMP is subject to a four-week public review period, and accordingly drilling is planned to commence in May 2018.

READ: Metal Tiger’s Botswana joint venture delivers further positive drill results

T3 Dome EMP will increase the area available for drilling within the T3 Dome to around 680 square kilometres.

Drill targets will include an initial 10 high priority untested T3 Dome Airborne Electromagnetic (EM) geophysics anomalies thought to be related to lithological formation conductors.

“These high priority target anomalies represent an opportunity for the discovery of additional satellite copper deposits which could augment or supplement the potential offered by developing the T3 Open Pit Resource and its potential underground extensions,” said Michael McNeilly, chief executive of Metal Tiger. 

“We look forward to the prospect of an exciting stream of regional drill results whilst the JV continues to progress the T3 Feasibility Study works.”

 

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Tue, 03 Apr 2018 07:47:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/194119/botswana-grants-permission-for-drilling-on-680-square-kilometre-t3-dome-area-jointly-owned-by-metal-tiger-and-mod-resources-194119.html
<![CDATA[RNS press release - Botswana Copper/Silver Project EMP Approval ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180402006001/ Tue, 03 Apr 2018 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180402006001/ <![CDATA[News - Metal Tiger’s Botswana joint venture delivers further positive drill results ]]> http://www.proactiveinvestors.co.uk/companies/news/193767/metal-tigers-botswana-joint-venture-delivers-further-positive-drill-results-193767.html A second phase of drilling undertaken by MOD Resources, the company which holds the T3 copper project in Botswana in the joint venture with Metal Tiger PLC (LON:MTR) has returned positive results.

Among the latest intersections from T3 were 17.9 metres at 2% copper and 46 grams per tonne silver, 3 metres at 1.3% copper and 10 grams silver, and 16 metres at 1.3% copper and 22 grams silver.

READ: Metal Tiger picks up more MOD Resources shares in market transactions

Results from a further 34 diamond drill holes are pending but once they are in, Metal Tiger expects that an updated resource can be compiled by early June.

The results will also feed into the feasibility study to help increase confidence in the T3 Expansion Case model which assumes an ore processing rate of 2.5mln tonnes per year for around three years, before a ramp up to 4mln tonnes for a further eight years.

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Mon, 26 Mar 2018 08:05:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/193767/metal-tigers-botswana-joint-venture-delivers-further-positive-drill-results-193767.html
<![CDATA[RNS press release - Botswana Copper/Silver Project T3 Drill Results Build Open Pit Expansion Potential ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180325005115/ Mon, 26 Mar 2018 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180325005115/ <![CDATA[RNS press release - MOD Resources Investment Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180319005445/ Mon, 19 Mar 2018 07:07:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180319005445/ <![CDATA[News - Metal Tiger picks up more MOD Resources shares in market transactions ]]> http://www.proactiveinvestors.co.uk/companies/news/193235/metal-tiger-picks-up-more-mod-resources-shares-in-market-transactions-193235.html Metal Tiger Plc (LON:MTR) confirmed that it had made a further purchase of MOD Resources Ltd (ASX:MOD) shares, increasing the company’s stake to 5.98%.

A stock market statement revealed that Metal Tiger acquired 3.29mln shares on the market, with some shares purchased at 4.68 and others bought at 4.655 Australian cents. The company paid a total of A$152,646 for the shares.

READ: Metal Tiger increases stake in MOD Resources with latest investment

It now holds 129.5mln MOD shares, equating to 5.98%.

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Thu, 15 Mar 2018 12:07:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/193235/metal-tiger-picks-up-more-mod-resources-shares-in-market-transactions-193235.html
<![CDATA[RNS press release - MOD Resources Investment Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180315005546/ Thu, 15 Mar 2018 10:54:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180315005546/ <![CDATA[News - Metal Tiger increases stake in MOD Resources with latest investment ]]> http://www.proactiveinvestors.co.uk/companies/news/192994/metal-tiger-increases-stake-in-mod-resources-with-latest-investment-192994.html Metal Tiger PLC (LON:MTR) told investors that it has increased its stake in associate MOD Resources Ltd (ASX:MOD).

It confirmed that it had invested A$705,000, taking up 15mln new shares in a recent share placing.

READ: MOD Resources raising $18 mln for copper project in Botswana

As a result, Metal Tiger retains a 5.86% interest in MOD, and the company also noted that it intends to take up its full entitlement in MOD’s 16-1 rights issue (which would see it take up 7.88mln shares at a cost of A$370,713).

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Mon, 12 Mar 2018 11:09:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/192994/metal-tiger-increases-stake-in-mod-resources-with-latest-investment-192994.html
<![CDATA[RNS press release - Additional Investment into MOD Resources Limited ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180312005491/ Mon, 12 Mar 2018 10:16:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180312005491/ <![CDATA[RNS press release - Directorate Change ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180301005591/ Thu, 01 Mar 2018 08:48:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180301005591/ <![CDATA[News - Metal Tiger takes 4.23% of Connemara Mining in share placing ]]> http://www.proactiveinvestors.co.uk/companies/news/192260/metal-tiger-takes-423-of-connemara-mining-in-share-placing-192260.html Metal Tiger PLC (LON:MTR) told investors that it had participated in Connemara Mining Company PLC’s (LON:CON) private placing, taking up some of the shares on offer.

It has purchased 4.8mln Connemara shares which were priced at 4.15p each, a modest discount to the current share price of 4.38p, which was down 1.7% on Monday's closing price.

READ: Metal Tiger shelves Thai IPO plans for its joint venture

Metal Tiger also receives the same number of share warrants which would give it the chance to acquire additional shares at an exercise price of 7p per share.

Following the placing, Metal Tiger holds 4.23% of Connemara.

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Tue, 27 Feb 2018 10:54:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/192260/metal-tiger-takes-423-of-connemara-mining-in-share-placing-192260.html
<![CDATA[RNS press release - Investment in Connemara ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180227005722/ Tue, 27 Feb 2018 10:20:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180227005722/ <![CDATA[RNS press release - Share Issue and Directors’ Interest in Shares ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180226005537/ Mon, 26 Feb 2018 09:21:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180226005537/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20180222070007_13541680/ Thu, 22 Feb 2018 07:00:07 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20180222070007_13541680/ <![CDATA[RNS press release - On market purchase – Thor Mining ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180221005825/ Wed, 21 Feb 2018 14:48:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180221005825/ <![CDATA[RNS press release - MOD Resources Investment Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180212005887/ Mon, 12 Feb 2018 16:13:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180212005887/ <![CDATA[RNS press release - On Market Purchase in Thor Mining ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180208005544/ Thu, 08 Feb 2018 10:05:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180208005544/ <![CDATA[RNS press release - Publication of Investor Presentation ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20180205094258_13521359/ Mon, 05 Feb 2018 09:42:58 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20180205094258_13521359/ <![CDATA[RNS press release - Director Dealing ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180205005367/ Mon, 05 Feb 2018 09:18:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180205005367/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20180202140529_13520220/ Fri, 02 Feb 2018 14:05:29 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20180202140529_13520220/ <![CDATA[RNS press release - Price Monitoring Extension ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20180202140016_13520203/ Fri, 02 Feb 2018 14:00:16 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20180202140016_13520203/ <![CDATA[News - Metal Tiger shelves Thai IPO plans for its joint venture ]]> http://www.proactiveinvestors.co.uk/companies/news/191072/metal-tiger-shelves-thai-ipo-plans-for-its-joint-venture-191072.html Metal Tiger PLC (LON:MTR) told investors that it has decided to postpone the proposed initial public offering for its Thai joint venture “until further notice”.

It comes as the company expects a delay to the possible approval of the ‘master plan’ related to the joint venture’s Song Toh and Boh Yai lead-zinc mine projects.

The company, in a statement, said that following talks with representatives of the Thai Department of Primary Industries and Mines (DPIM), it believes the plan won’t be considered until March - albeit, it added that there’s no guarantee on any exact timing or approval for the projects.

READ: Metal Tiger reports 'significant step' towards IPO of Thai mining joint venture

Metal Tiger explained that it is prudent to postpone the IPO, due to the uncertainty over the plan and/or the potential designation of the Song Toh and Boh Yai deposit areas for mining.

At the same time, the company has undertaken an operational review of the venture and has put in place what is described as a “substantial cost cutting program” and has halted all capital intensive programmes for the project.

“Internal DPIM guidance on holding public hearings is expected to be published following the Master Plan being approved,” Metal Tiger said in a statement.

“Holding this public hearing is the first step in the permitting process and is a key condition precedent for any IPO.

“The company is ready to make its initial submission for the permitting process for the two lead-zinc-silver mines upon approval of the Master Plan and completion of the public hearing process. The majority of the work for the Thai IPO has been largely completed and any resumption of work on the IPO would require relatively modest updates.”

WATCH: Metal Tiger very pleased with Pre-Feasibility Study on Botswana copper joint venture

The company added: “Metal Tiger has had encouraging preliminary conversations with its JV partner in relation to the terms of the current JV and is seeking an improved deal given the circumstances and the significant work completed to date.

“Any deal would be for minimal consideration, in light of Metal Tiger’s significant contributions to the project to date, and would be conditional on the Master Plan being approved.”

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Fri, 02 Feb 2018 12:37:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/191072/metal-tiger-shelves-thai-ipo-plans-for-its-joint-venture-191072.html
<![CDATA[RNS press release - KEMCO PLC IPO Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180202005226/ Fri, 02 Feb 2018 12:15:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180202005226/ <![CDATA[Media files - Metal Tiger very pleased with Pre-Feasibility Study on Botswana copper joint venture ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/8687/metal-tiger-very-pleased-with-pre-feasibility-study-on-botswana-copper-joint-venture-8687.html Wed, 31 Jan 2018 13:57:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/8687/metal-tiger-very-pleased-with-pre-feasibility-study-on-botswana-copper-joint-venture-8687.html <![CDATA[RNS press release - Kingsgate Investment Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180131005545/ Wed, 31 Jan 2018 08:33:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180131005545/ <![CDATA[News - Metal Tiger says Pre-Feasibility Study for Botswana copper joint venture looks “very robust” ]]> http://www.proactiveinvestors.co.uk/companies/news/190886/metal-tiger-says-pre-feasibility-study-for-botswana-copper-joint-venture-looks-very-robust-190886.html Metal Tiger PLC (LON:MTR) said the completed Pre-Feasibility Study (PFS) for its joint venture project with partner MOD Resources Limited (ASX:MOD) in the Kalahari Copper Belt in Botswana for the T3 Open-Pit looks “very robust”.

In a statement, the AIM-listed investor in strategic natural resource opportunities said the PFS concludes that T3 offers “a low-risk, low capital pathway to copper production supported by improving confidence in the long-term consensus copper price”.

READ: Metal Tiger reveals Botswana plans ahead of imminent prefeasibility study for T3 project

It added that the PFS Base Case with plant throughput of 2.5mln tonnes per annum indicates circa US$730mln of underlying earnings (EBITDA) over 9 years, while the PFS Expansion Case indicates potential for circa US$1.1bn of EBITDA over 12 years.

The firm said the PFS also indicates net pre-tax cashflow of US$530mln, inclusive of development capital, annual free cash flow of US$77mlm before tax from the production start, and a payback of 2.7 years from production start.

Michael McNeilly, Metal Tiger’s chief executive officer commented: “The fact that the JV has taken from discovery to a very robust PFS in little more than twenty-two months is tantamount to the level of work and commitment all the stakeholders have put in to the project.”

He added: “It Is exciting to report that with the robust PFS results to hand both Metal Tiger and MOD are unified in our commitment to progress the project to the next level, and will be commissioning further studies to upgrade understanding to a Feasibility Study level, with work due to commence this quarter.”

MOD Resources owns 70% of the Botswana joint venture, while Metal Tiger has a 30% stake.

Kingsgate sale

In a separate announcement, Metal Tiger also announced that it has sold its remaining shares in Kingsgate Consolidated Limited, bringing its holding down from 11,504,685 shares in KCN to zero. It said that the gross proceeds from the share sales were circa A$3,464,668 (£1,973,209).

Michael McNeilly, commented: “Metal Tiger has decided to sell out of its entire KCN stake to materially increase the cash balance so that it can focus on its existing investments and assess new investment opportunities.”

 -- Adds Kingsgate share sale news -- 

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Wed, 31 Jan 2018 08:12:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/190886/metal-tiger-says-pre-feasibility-study-for-botswana-copper-joint-venture-looks-very-robust-190886.html
<![CDATA[RNS press release - T3 Pre-Feasibility Study Results ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180130006557/ Wed, 31 Jan 2018 07:00:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180130006557/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20180130182231_13515207/ Tue, 30 Jan 2018 18:22:31 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20180130182231_13515207/ <![CDATA[RNS press release - On Market Purchase Thor Mining ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180128005114/ Mon, 29 Jan 2018 07:51:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180128005114/ <![CDATA[News - Metal Tiger reveals Botswana plans ahead of imminent prefeasibility study for T3 project ]]> http://www.proactiveinvestors.co.uk/companies/news/190607/metal-tiger-reveals-botswana-plans-ahead-of-imminent-prefeasibility-study-for-t3-project-190607.html Metal Tiger PLC (LON:MTR) has updated investors on the joint venture with MOD Resources Limited (ASX:MOD) in Botswana where a prefeasibility study, for the T3 Open Pit project, is due to be completed in the coming days.

The company highlighted that the study, anticipated before the end of January, will assume a 2.5mln tonne per annum base case at T3 and it is intended that drilling will continue through the first half of 2018 to define resources at the project.

At the same time, it added that a major regional exploration programme is also underway focussing on targets outside the T3 area – testing areas such as the ‘T3 Dome’, ‘T20 Dome’ and ‘T Rex’ targets.

The plan is to replicate the approach taken in the discovery of the T3 Open Pit area such as soil sampling, geophysics & drill testing.

“We are pleased to outline the key elements of our comprehensive strategy to test the copper potential of our tenement holdings outside of the immediate T3 Project area,” said Michael McNeilly, Metal Tiger chief executive.

“Given the initial findings of the joint venture’s regional soil and geophysics programmes, and the increased knowledge of the structural controls and mineralisation styles likely linked to the new copper and zinc anomalies, we feel that the continued investment through regional drill testing is likely to yield exciting returns.”

McNeilly added: “Benefiting from the updated knowledge of the distribution and style of copper deposits in this part of the Kalahari Copper Belt, we consider it a strong possibility, that one or more of the regional anomalies, within our extensive tenement package, will turn out to be an as-yet undiscovered T3 style sediment hosted copper deposit.”

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Thu, 25 Jan 2018 08:10:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/190607/metal-tiger-reveals-botswana-plans-ahead-of-imminent-prefeasibility-study-for-t3-project-190607.html
<![CDATA[RNS press release - Botswana Copper/Silver Project T3 Update & Major Regional Exploration Programme ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180124006374/ Thu, 25 Jan 2018 07:00:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180124006374/ <![CDATA[RNS press release - Strategic Investment & Agreement – Thor Mining ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180123005812/ Tue, 23 Jan 2018 12:02:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180123005812/ <![CDATA[RNS press release - Kingsgate Investment Update - Replacement ]]> http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180123005657/ Tue, 23 Jan 2018 09:11:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20180123005657/ <![CDATA[News - Metal Tiger cuts its stake in Kingsgate Consolidated in half ]]> http://www.proactiveinvestors.co.uk/companies/news/190451/metal-tiger-cuts-its-stake-in-kingsgate-consolidated-in-half-190451.html Metal Tiger PLC (LON:MTR) has sold just over 7.9 mln shares in Kingsgate Consolidated Ltd (ASX:KCN), bringing its holding down from just over 19 mln shares to around 11.5 mln shares.

Metal Tiger now holds 5.15% of Kingsgate’s shares.

READ: Metal Tiger says Kingsgate shareholders want change

The sale resulted in gross proceeds of A$2,686,029.

“Metal Tiger has taken the prudent decision to de-risk our Kingsgate investment by partially selling down and booking a profit,” said Michael McNeilly, chief executive of Metal Tiger.

“It does not, however, mean we are going away. We still retain more than 5% of Kingsgate and will be watching the board closely to see if they deliver on what they have promised. In the meantime we are turning the bulk of our attention to our copper/silver joint venture with MOD in Botswana, where a prefeasibility Study on T3 is anticipated shortly.”

 

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Tue, 23 Jan 2018 08:27:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/190451/metal-tiger-cuts-its-stake-in-kingsgate-consolidated-in-half-190451.html