Proactive Investors - Run By Investors For Investors

Metal Tiger takes up Thai option

Metal Tiger has elected to exercise its option to acquire the remainder of SEAM's Thailand interests for an initial consideration of US$500,000
Metal Tiger takes up Thai option
Metal Tiger now controls 8 special prospecting licence applications in Western Thailand

Natural resources-focused investment company Metal Tiger (LON:MTR) has exercised its option to buy-out its former joint venture partner in Thailand, South East Asia Mining (SEAM).

At the same time, Metal Tiger will offload a 10% interest to a local Thai operating company, leaving Metal Tiger with 90% of the assets of its former joint venture with SEAM.

Metal Tiger has paid $200,000 in cash to SEAM, funded entirely from existing resources, and has granted SEAM shares in Metal Tiger to the value of $300,000 based on a transaction price of 0.87p per share.

A further $100,000 cash payment, plus a $60,000 working capital contribution and the issue of 23.8mln Metal Tiger warrants could be payable if SEAM is granted its primary target prospecting licence 1/2557 in the Kanchanaburi in Western Thailand.

Metal Tiger said it is actively engaged with Thai operating partners to continue the work programme across the Thai interests and to investigate additional opportunities.

“The strategic value of this acquisition is very important as we build our investment in Thailand. That investment is lent more credibility because the local Thai operating team, including key members of the SEAM organisation, have extensive operating experience in Thailand,” said Paul Johnson, chief executive officer of Metal Tiger. 

“With this acquisition now undertaken, our focus moves to building on this foundation by investing in work on the ground in our existing interests and by adding new opportunities that offer material value upside for shareholders,” Johnson added.

View full MTR profile View Profile

Metal Tiger Timeline

Related Articles

February 24 2017
Paul Donaldson discussed with investors the Tier 1 Colluli Potash Project.
Royal Road Minerals' Nicaraguan ambitions starting to take shape
September 06 2017
Caza, which it has now bought, controlled land in the highly prospective but undeveloped gold belts of Nicaragua
November 20 2017
European Metals Holdings is rapidly moving forward with Europe's largest and most significant lithium project

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use