Proactiveinvestors United Kingdom Metal Tiger Plc https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Metal Tiger Plc RSS feed en Fri, 19 Jul 2019 12:06:13 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[Media files - Sandfire offer for MOD Resources a 'transformational deal' for Metal Tiger ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/13987/sandfire-offer-for-mod-resources-a--transformational-deal--for-metal-tiger-13987.html Thu, 04 Jul 2019 13:35:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/13987/sandfire-offer-for-mod-resources-a--transformational-deal--for-metal-tiger-13987.html <![CDATA[RNS press release - Results of Annual General Meeting ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20190627111822_14127185/ Thu, 27 Jun 2019 11:18:22 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20190627111822_14127185/ <![CDATA[RNS press release - Block listing Interim Review ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/NASDAQ_1000219291-en/ Wed, 26 Jun 2019 09:14:27 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10669/NASDAQ_1000219291-en/ <![CDATA[RNS press release - Annual Financial Report and Notice of Annual General Meeting ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/NASDAQ_1000199095-en/ Tue, 25 Jun 2019 09:15:22 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10669/NASDAQ_1000199095-en/ <![CDATA[News - Metal Tiger set to benefit from Sandfire’s acquisition of MOD Resources ]]> https://www.proactiveinvestors.co.uk/companies/news/222745/metal-tiger-set-to-benefit-from-sandfires-acquisition-of-mod-resources-222745.html Metal Tiger Plc (LON:MTR) shares soared on Tuesday after the natural reources investor said it was “pleased to note” the recommended offer from Sandfire Resources Ltd (ASX:SFR) for MOD Resources (ASX:MOD)(LON:MOD).

Metal Tiger has had a long-standing relationship with MOD exploring for copper in Botswana.

WATCH: Sandfire offer for MOD Resources a 'transformational deal' for Metal Tiger

It currently holds a substantial stake in MOD, having converted its stake in a joint venture directly into shares.

All told, Metal Tiger’s interests in MOD and assets related to the joint venture that are set to be realised by the Sandfire offer have a combined total value of £23.2mln.

That’s a nice return on the £7.7mln Metal Tiger has invested in the MOD joint venture over the years.

The Sandfire offer for MOD amounts to 0.0664 shares for every MOD share, which values MOD at A$0.45 per share.

Metal Tiger will take its consideration in Sandfire shares, and will accordingly end up holding around 3.5% of Sandfire.

In afternoon trading, shares in Metal Tiger were 11.5% higher at 1.45p, with MOD shares in London up 17% at 20.50p.

 -- Adds share prices --

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Tue, 25 Jun 2019 08:42:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/222745/metal-tiger-set-to-benefit-from-sandfires-acquisition-of-mod-resources-222745.html
<![CDATA[RNS press release - MOD Resources - Offer from Sandfire Resources ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20190625070013_14122695/ Tue, 25 Jun 2019 07:00:13 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20190625070013_14122695/ <![CDATA[RNS press release - Posting of Annual Report and Notice of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190605005706/ Wed, 05 Jun 2019 16:16:00 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190605005706/ <![CDATA[RNS press release - Further investment of US$1.1m in Kalahari Metals Limited ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190531005196/ Fri, 31 May 2019 11:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190531005196/ <![CDATA[News - Metal Tiger highlights significant progress during “transformational year” ]]> https://www.proactiveinvestors.co.uk/companies/news/221294/metal-tiger-highlights-significant-progress-during-transformational-year-221294.html Metal Tiger Plc (LON:MTR) shares rose on Friday as its chief executive Michael McNeilly reported on what he described as a “transformational year” for the company.

During 2018, the AIM-listed company continued to reshape its portfolio - selling its 30% stake in the T3 copper project to MOD Resources Limited (LON:MOD) (ASX:MOD) and increasing its investment in the Kalahari Copper Belt.

The company was able to continue funding its portfolio, raising £6.1mln during the period and £3mln since the end of the year.

WATCH: Metal Tiger investee Kalahari Metals to start drilling at Ngami project

“The board believes that 2018 was a transformational year for the group with significant progress being achieved across our investment portfolio thanks to the hard work of the Metal Tiger team, as well as the continued support of its shareholders,” McNeilly said.

“Most notably, the sale of the T3 Project has set the group up for potential future success through the group’s increased footprint in the highly prospective Kalahari copper belt, whilst eliminating the cash exposure associated with funding the development of the T3 project.

“We have continued to make good progress in 2019 across both our direct projects and direct equities divisions and look forward to further value realisation across our portfolio., he added.

Metal Tiger reported a £4mln loss before tax as a decline in MOD's share price offset the gain from the T3 sale.

The company separately revealed on Friday that it had invested an additional US$1.1mln into Botswana focused Kalahari Metals Limited (KML).

The equity investment sees the company ‘s stake in KML increase to 59.81% from 50%, though there will subsequently be some dilution as KML completes its acquisition of Kitlanya Limited in a paper deal.

Proceeds from Metal Tiger’s investment will cover the full funding requirement for KML’s planned first round drilling at the Ngami and Okavango copper projects, where a total of 2,100 metres of drilling is planned. Drill rigs are due to be mobilized next week.

“We are delighted that KML is now fully funded to commence the first round of drilling at the Ngami and Okavango Copper Projects and we look forward to initial drill results,” McNeilly said. “This additional funding will also allow KML to plan further work programs over its licence holdings and we will make further updates in due course.”

In early morning trading, shares in Metal Toger were 3.9% higher at 1.32p.

 -- Adds share price and second announcement --

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Fri, 31 May 2019 08:53:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/221294/metal-tiger-highlights-significant-progress-during-transformational-year-221294.html
<![CDATA[News - Metal Tiger makes strong start to 2019 after reshaping portfolio ]]> https://www.proactiveinvestors.co.uk/companies/news/221301/metal-tiger-makes-strong-start-to-2019-after-reshaping-portfolio-221301.html  

What Metal Tiger does:

Metal Tiger is an AIM-listed firm that invests in natural resources projects and companies.

Its direct equities division invests in natural resource companies listed on London’s junior market AIM, the Australian Stock Exchange and the Toronto Stock Exchange.

The direct projects division focuses on the development of key projects in Botswana, Spain and Thailand.

What it owns:

The company owns 59.81% of Kalahari Metals Ltd, which owns the Ngami and Okavango copper projects in Botswana.

Elsewhere, Metal Tiger has stakes in the Logrosán exploration gold and tungsten project in Spain and the Boh Yai silver-lead-zinc mine in Thailand.

Inflexion points: During 2018, the company sold its 30% stake in the T3 copper project to MOD Resources Limited (LON:MOD) (ASX:MOD). Metal Tiger said on Friday that it would invest a further US$1.1mln in Kalahari Metals Limited, raising its stake to 59.8% from 50.0%. Kalahari holds interests in 12 highly prospective exploration licences in the Kalahari Copper Belt. Drilling is due to start in the first week of June on Kalahari Metals’ Ngami copper project following environmental sign-off from the authorities in Botswana. This first-phase, 2,100-metre programme will test what's called fold-hinge geology over three areas. Once this initial pass is completed, the drill rig will be deployed on the Okavango copper project. A drill programme at the Logrosán project has yielded five high-grade tungsten intersections as well as three high-grade gold intersections. The tungsten intersections had an average grade of 0.3% tungsten trioxide, compared to the typical grade of 0.1% for commercial tungsten deposits. The gold intersections meanwhile, had ranged between 9.7 grams per tonne (g/t) and 96.2 g/t. In Thailand, the group cut costs last year as it awaited the implementation of the new Minerals Act and associated regulations, which were completed in December. The company believes there is the potential to “increase significantly” the resources at the Boh Yai lead-zinc-silver mine through a modest exploration drill campaign and looks forward to progressing the project. What the CEO says:

Chief executive Michael McNeilly said 2018 was a “transformational year” for the group with significant progress being achieved across its investment portfolio.

“Most notably, the sale of the T3 project has set the group up for potential future success through the group’s increased footprint in the highly prospective Kalahari Copper Belt, whilst eliminating the cash exposure associated with funding the development of the T3 project. 

“We have continued to make good progress in 2019 across both our direct projects and direct equities divisions and look forward to further value realisation across our portfolio.”

On the group's increased exposure to the Kalahari Copper Belt, he said the project was "highly prospective and we are confident that continued exploration work in the region will potentially result in new, exciting copper discoveries.”

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Fri, 31 May 2019 07:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/221301/metal-tiger-makes-strong-start-to-2019-after-reshaping-portfolio-221301.html
<![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190523005858/ Fri, 24 May 2019 07:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190523005858/ <![CDATA[Media files - Metal Tiger investee company Kalahari Metals to start drilling at Ngami Copper Project ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/13454/metal-tiger-investee-company-kalahari-metals-to-start-drilling-at-ngami-copper-project-13454.html Thu, 23 May 2019 10:13:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/13454/metal-tiger-investee-company-kalahari-metals-to-start-drilling-at-ngami-copper-project-13454.html <![CDATA[News - Metal Tiger says investee company gets the green light to begin Botswana drill programme ]]> https://www.proactiveinvestors.co.uk/companies/news/220825/metal-tiger-says-investee-company-gets-the-green-light-to-begin-botswana-drill-programme-220825.html Metal Tiger PLC (LON:MTR) shares rose on Thursday said drilling will start early next month on Kalahari Metals’ Ngami Copper Project following environmental sign-off from the authorities in Botswana.

This first-phase, 2,100-metre programme will test what's called fold-hinge geology over three areas.

“Intersecting the mineralised contact in these early stage exploration holes will provide support for the target generation methodology, which we believe will justify a more aggressive follow-on drill programme to fully evaluate the potential of each of the targets,” said Metal Tiger chief executive Michael McNeilly.

Once this initial pass is completed, the drill rig will be deployed on the Okavango Copper Project.

Kalahari, meanwhile, has completed the work required to earn a 51% stake of Triprop Holdings, which owns five exploration licences.

AIM-listed Metal Tiger owns 50% of Kalahari.

In afternoon trading, Metal Tiger shares were 6.5% higher at 1.23p.

 -- Adds share price --

 

 

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Thu, 23 May 2019 07:31:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220825/metal-tiger-says-investee-company-gets-the-green-light-to-begin-botswana-drill-programme-220825.html
<![CDATA[RNS press release - Kalahari Metals Limited Exploration Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190522005881/ Thu, 23 May 2019 07:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190522005881/ <![CDATA[RNS press release - Appointment of joint broker ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20190509092613_14067999/ Thu, 09 May 2019 09:26:13 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20190509092613_14067999/ <![CDATA[News - Metal Tiger outlines upcoming exploration programme in the Kalahari copper belt ]]> https://www.proactiveinvestors.co.uk/companies/news/219788/metal-tiger-outlines-upcoming-exploration-programme-in-the-kalahari-copper-belt-219788.html Natural resources investor Metal Tiger PLC (LON:MTR) has set out the upcoming exploration programme for its portfolio of assets in the Kalahari copper belt in Botswana.

Metal Tiger holds a 30% stake in several licence areas in joint venture with MOD Resources, which owns the other 70%. MOD – in which Metal holds a 10.5% stake – also owns the T3 copper project.

READ: Metal Tiger reveals more encouraging drill results from T3

The pair are looking to develop satellite mines around T3 in order to leverage planned T3 infrastructure and provide increased production throughput to the planned processing plant at T3.

MOD is working to advance a “range of funding options” towards a decision to mine T3, Metal said.

The companies have listed their high priority work targets for the coming months.

Busy couple of months ahead

A drill programme is scheduled to get underway later this month at the T20 joint venture project which sits about 100km west of T3.

At the T3 expansion project, the JV will carry out staged drilling at the A4 prospect in order to build out from previous high-grade holes. The aim is to establish a JORC resource estimate there by the end of the year.

They added that “numerous” potential drill targets surrounding the planned T3 open-pit processing plant have been identified.

At T3, a 16-hole drill programme beneath the planned open-pit is expected to begin in early June, followed by further infill drilling, which will be used to define a JORC resource estimate for the underground part of the project.

Drilling is an ‘easy opportunity’ to increase value of assets

“We are pleased to report the JV strategy to seek to add further value at T3 and our wider holdings in the Kalahari Copper Belt in Botswana,” said Metal Tiger chief executive Michael McNeilly.

“It is anticipated that this will be achieved through the planned exploration work as we seek to discover new copper deposits as well as through the delineation of additional JORC Resources from known prospects which offer the potential to provide throughput to the planned T3 Open-Pit Processing Plant.”

He added: “We believe that further resource definition around the T3 project, as per today’s announced work programme, is an easy and low-risk opportunity to increase the value of Metal Tiger’s portfolio of assets in the Kalahari Copper Belt.”

Metal Tiger shares were down 5% to 1.2p on Tuesday morning.

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Tue, 07 May 2019 10:40:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/219788/metal-tiger-outlines-upcoming-exploration-programme-in-the-kalahari-copper-belt-219788.html
<![CDATA[RNS press release - Botswana Copper Silver Project T3 Project & Regional Exploration Programme Plan ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190507005428/ Tue, 07 May 2019 09:23:00 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190507005428/ <![CDATA[Media files - Metal Tiger's Michael McNeilly encouraged as projects continue to impress ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/13220/metal-tiger-s-michael-mcneilly-encouraged-as-projects-continue-to-impress-13220.html Fri, 03 May 2019 08:06:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/13220/metal-tiger-s-michael-mcneilly-encouraged-as-projects-continue-to-impress-13220.html <![CDATA[News - Metal Tiger reveals more encouraging drill results from T3 ]]> https://www.proactiveinvestors.co.uk/companies/news/219238/metal-tiger-reveals-more-encouraging-drill-results-from-t3-219238.html Metal Tiger PLC (LON:MTR) has reported an update on infill drilling at the T3 copper project in Botswana

T3 is owned by MOD Resources (LON:MOD), in which Metal Tiger holds a 10.48% stake.

WATCH: Metal Tiger's Michael McNeilly upbeat on Kitlanya copper project results

Since commencement of the infill drilling in January 2019, 49 of the planned 60 hole programme has now been completed at T3, with the remaining 11 holes expected to be completed by the end of the first half of 2019.

Assay results have now been received for a total of 36 holes, with the results for the first 11 holes announced on 12 March 2019.

The assay results for the second batch of 25 holes support the expectation that a significant portion of the resource can be upgraded to the measured category.

We are pleased to report that the infill drilling at MOD’s T3 Project in Botswana continues to confirm both high grade copper and wide copper intersections within the planned T3 Open Pit in Botswana,” said Metal Tiger chief executive Michael McNeilly.

The second batch of results continue to support the expectation that a significant portion of the mineral resource can be upgraded to the measured category, helping to further de-risk the attractive mining proposition.”

 

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Mon, 29 Apr 2019 08:06:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/219238/metal-tiger-reveals-more-encouraging-drill-results-from-t3-219238.html
<![CDATA[RNS press release - Botswana Copper Silver Project T3 Infill Drilling Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190428005031/ Mon, 29 Apr 2019 07:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190428005031/ <![CDATA[News - Metal Tiger shines as drill programme “significantly” adds to value of Logrosán project ]]> https://www.proactiveinvestors.co.uk/companies/news/219100/metal-tiger-shines-as-drill-programme-significantly-adds-to-value-of-logrosn-project-219100.html Metal Tiger PLC (LON:MTR) jumped in lunchtime trading on Thursday after it said results from a drill programme at its Logrosán project in Spain had “added significantly” to its value.

Michael McNeilly, chief executive of the AIM resources investor, said the “short confirmatory drill programme” had yielded five high-grade tungsten intersections as well as three high-grade gold intersections.

READ: Metal Tiger reveals approval of environmental management plan for Okavango copper project

The tungsten intersections had an average grade of 0.3% tungsten trioxide, compared to the typical grade of 0.1% for commercial tungsten deposits. The gold intersections meanwhile, had ranged between 9.7 grams per tonne (g/t) and 96.2 g/t.

The programme had been conducted in a “cost-effective manner” McNeilly added, utilising spare drill rig capacity and with staffing from Mineral Exploration Network (MEN) Finland Limited, MTR’s joint venture (JV) partner for the project.

“We are currently considering the next steps for the project with our JV partners and will provide further updates in due course.”

Shares were up 6.1% at 1.3p.

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Thu, 25 Apr 2019 12:05:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/219100/metal-tiger-shines-as-drill-programme-significantly-adds-to-value-of-logrosn-project-219100.html
<![CDATA[RNS press release - Spain Winter 2018/19 Work Programme Update & Drilling Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190425005426/ Thu, 25 Apr 2019 11:15:00 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190425005426/ <![CDATA[News - Metal Tiger reveals approval of environmental management plan for Okavango copper project ]]> https://www.proactiveinvestors.co.uk/companies/news/218564/metal-tiger-reveals-approval-of-environmental-management-plan-for-okavango-copper-project-218564.html Kalahari Metals LTD, in which Metal Tiger PLC (LON:MTR) holds a 50% stake, has received notification that the environmental management plan for its Okavango copper project has been reviewed and approved by the Botswana Department of Environmental Affairs.

The approval is subject to a four-week public review period.

WATCH: Metal Tiger's Michael McNeilly upbeat on Kitlanya copper project results

The public review is the precursor to the EMP authorisation which, if granted, would allow diamond drilling to commence on high priority targets within the project. Competitive drilling tenders have been received and Kalahari Metals is confident drilling will take place shortly after completion of the public review.

"I am delighted by the continued support that the Botswana Department of Environmental Affairs has shown for the development of the KML portfolio, in which we see significant potential,” said Michael McNeilly, chief executive of Metal Tiger.

“The KML portfolio now includes a number of exciting geophysical and structural targets across the highly prospective Kalahari Copper Belt, which warrant further investigation by drilling. The anticipated drilling approvals will commence an exciting new chapter for the Company and our shareholders, and we look forward to providing further updates in due course."

 

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Mon, 15 Apr 2019 08:29:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/218564/metal-tiger-reveals-approval-of-environmental-management-plan-for-okavango-copper-project-218564.html
<![CDATA[RNS press release - Kalahari Metals Limited Environmental Permitting Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190414005017/ Mon, 15 Apr 2019 07:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190414005017/ <![CDATA[News - Metal Tiger’s Kalahari Metals purchases firm which owns five exploration licences in Kalahari Copper Belt ]]> https://www.proactiveinvestors.co.uk/companies/news/218304/metal-tigers-kalahari-metals-purchases-firm-which-owns-five-exploration-licences-in-kalahari-copper-belt-218304.html Metal Tiger PLC (LON:MTR) said investee company Kalahari Metals Limited (KML) has entered into a binding agreement with Resource Exploration and Development Limited (RED) to purchase 100% of Kitlanya Ltd, which owns five recently granted exploration licences in the prospective Kalahari Copper Belt.

The AIM-listed investor in strategic natural resource opportunities said post completion of the acquisition, Metal Tiger’s interest in KML will be diluted to approximately 43.9% of the issued share capital, down from its current level of 50%.

READ: Metal Tiger’s Kalahari Metals receives Botswana government approval for Ngami EMP

It noted that KML has completed US$100,000 of exploration works on the licences held by Kitlanya and will acquire 100% of the project for US$700,000, satisfied by the issue of shares representing approximately 13.4% of KML as enlarged by the acquisition.

The group pointed out that the transaction will value KML, post-acquisition completion, at US$5.2mln.

The acquisition which will increase KML’s direct land position in the Kalahari Copper Belt to approximately 8,594km2, is conditional upon approval of the change of control being granted by the authorities in Botswana and receipt of an updated letter of good standing for the licences, it added.

Metal Tiger said it intends to provide further funding to KML to support its drilling in the second quarter of 2019 and further announcements will be made as and when appropriate.

Michael McNeilly, Metal Tiger’s chief executive officer commented: “We are delighted that KML has reached an agreement to acquire Kitlanya, which will consolidate its highly prospective exploration interests in the Kalahari Copper Belt.

“We intend to demonstrate our continued support for KML and its activities in Botswana through the provision of further funding in due course.”

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Wed, 10 Apr 2019 08:48:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/218304/metal-tigers-kalahari-metals-purchases-firm-which-owns-five-exploration-licences-in-kalahari-copper-belt-218304.html
<![CDATA[RNS press release - Kalahari Metals Limited Acquisition of Kitlanya Ltd ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190409006073/ Wed, 10 Apr 2019 07:08:00 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190409006073/ <![CDATA[RNS press release - Issue of Equity ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190405005153/ Fri, 05 Apr 2019 11:48:00 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190405005153/ <![CDATA[News - Metal Tiger: Pan Asia Metals begins drilling at Reung Kiet Lithium project ]]> https://www.proactiveinvestors.co.uk/companies/news/217934/metal-tiger-pan-asia-metals-begins-drilling-at-reung-kiet-lithium-project-217934.html Metal Tiger PLC (LON:MTR) has said Pan Asia Metals Limited (PAM), in which it holds a 13.6% stake, has begun drilling at its Reung Kiet Lithium project (RKLP) in Thailand.

The natural resource investment firm said the programme had started with initial confirmatory drill holes orientated to intersect lepidolite pegmatite, a type of lithium bearing mineral, which was located around 20-30 metres below the floor of a historical pit mine at the project.

READ: Metal Tiger confirms Pan Asia Metals will start drilling at Thai lithium project in Q1

Depending on the findings, MTR said deeper drilling was planned to follow the confirmatory drill holes.

The RKLP is in the South East Asian tin and tungsten belt in Southern Thailand, an area that was a major tin mining district up until the 1980s.

“We strongly believe that the Reung Kiet Lithium Project has unique characteristics, with potentially one of the largest suites of lepidolite pegmatites in its global peer group”, said Michael McNeilly, chief executive of Metal Tiger.

“Through PAM’s drilling programme, we hope to realise the potential of the project and we look forward to updating shareholders as progress continues.”

MTR had said back in January that drilling was due to start in the first quarter of the year after PAM was awarded special prospecting licences by the Thai authorities that would last until 2024.

In mid-morning trading Thursday, Metal Tiger shares were steady at 1.4p.

--Adds share price--

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Thu, 04 Apr 2019 07:34:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/217934/metal-tiger-pan-asia-metals-begins-drilling-at-reung-kiet-lithium-project-217934.html
<![CDATA[RNS press release - Pan Asia Metals Commencement of Drilling Programme at Reung Kiet Lithium Project ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190403005878/ Thu, 04 Apr 2019 07:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190403005878/ <![CDATA[News - Metal Tiger’s Kalahari Metals receives Botswana government approval for Ngami EMP ]]> https://www.proactiveinvestors.co.uk/companies/news/217859/metal-tigers-kalahari-metals-receives-botswana-government-approval-for-ngami-emp-217859.html Metal Tiger PLC’s (LON:MTR) Kalahari Metals Limited (KML) has received approval from the Botswana government for an environmental management plan (EMP) at its Ngami copper project.

AIM-listed Metal Tiger, which holds a 50% stake in KML, said the EMP would now be subject to a four-week public review period, a precursor to authorisation which, if granted, would allow drilling at “compelling” targets at Ngami.

READ: Metal Tiger roars as MOD Resources releases T3 copper project feasibility study

The group added that an EMP for KML’s Okavango copper project (OCP), located North East of Ngami, had been resubmitted to the government following feedback from the Department of Environmental Affairs (DEA).

Elsewhere, EMPs had also been submitted for the Kitlanya East and Kitlanya West projects following news in early March that sampling results and historical data had identified compelling targets for drill testing.

READ: Metal Tiger says recent data for the Kitlanya copper project has provided compelling targets for drill testing

EMPs usually cover the design, construction, commissioning, and operation of projects as well as any environmental issues that could arise and how to manage them.

"I am delighted by the continued support that the Botswana Department of Environmental Affairs has shown for the development of the KML portfolio, in which we see significant potential”, said Michael McNeilly, chief executive of Metal Tiger.

He added that the KML portfolio now included “a number of exciting geophysical and structural targets” which warranted further drilling.

Shares were up 0.4% at 1.36p in late-morning trading on Wednesday.

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Wed, 03 Apr 2019 11:41:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/217859/metal-tigers-kalahari-metals-receives-botswana-government-approval-for-ngami-emp-217859.html
<![CDATA[RNS press release - Kalahari Metals Limited - Environmental Permitting ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20190403111322_14027314/ Wed, 03 Apr 2019 11:13:22 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20190403111322_14027314/ <![CDATA[RNS press release - Standard form for notification of major holdings ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20190329144611_14021916/ Fri, 29 Mar 2019 14:46:11 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20190329144611_14021916/ <![CDATA[RNS press release - Standard form for notification of major holdings ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20190329144602_14021915/ Fri, 29 Mar 2019 14:46:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20190329144602_14021915/ <![CDATA[News - Metal Tiger roars as MOD Resources releases T3 copper project feasibility study ]]> https://www.proactiveinvestors.co.uk/companies/news/217412/metal-tiger-roars-as-mod-resources-releases-t3-copper-project-feasibility-study-217412.html Metal Tiger PLC (LON:MTR) pushed higher on Thursday after a feasibility study suggested the T3 copper project in Botswana’s Kalahari copper belt has a net present value of US$368mln.

T3 is 100%-owned by Australian explorer MOD Resources, in which Metal has a 10.48% stake.

READ: Metal Tiger looking forward to completion of feasibility study

Net present value is one of the most important numbers included in economic studies. Essentially, it takes the expected costs and incomes from a project and figures out what would be left over.

Anything above zero indicates that a project is forecast to be profitable.

READ: Feasibility study results in full

T3 is estimated to have a mine life of 11.5 years, during which time it would generate revenue of US$2.3bn and underlying earnings of US$1.1bn. Pre-tax cash flows are estimated at US$777mln.

That money would come from 28,000 tonnes of copper concentrate and 1.1mln ounces of silver that T3 is expected to produce every year, with first production slated for 2021.

All-in-sustaining costs are forecast at US$1.56 per pound of copper.

Assuming a copper price of US$3.08 per pound and an 8% discount rate, the feasibility study reckons T3 has a net present value of US$368mln, with an internal rate of return of 33%.

Financing discussions already underway

MOD thinks it will need US$182mln of development capital to finance the building of the mine, process plant and infrastructure.

Expressions of interest have already been received from “numerous global, top-tier debt institutions”, MOD said, with many having begun their initial site visits and due diligence.

The Aussie-listed company is also looking at securing non-debt financing from a “number of potential strategic parties”.

“We are delighted to report on the findings of the MOD Feasibility Study for the T3 Open Pit mine project in Botswana,” said Metal Tiger chief executive Michael McNeilly.

“The study demonstrates the strong project economics and a clear case towards project development with a relatively straightforward open pit mine and processing plant design.

“The feasibility study findings continue to support the exploration of the surrounding joint venture holdings with the mine and plant design having built in optionality for bringing in new satellite deposits.”

In afternoon trading, Metal Tiger shares were 3.8% higher at 1.38p.

 -- Updates share price --

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Thu, 28 Mar 2019 09:43:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/217412/metal-tiger-roars-as-mod-resources-releases-t3-copper-project-feasibility-study-217412.html
<![CDATA[RNS press release - T3 Feasibility Study Confirms High-Margin, Low-Capital Open Pit Copper Mine ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190328005323/ Thu, 28 Mar 2019 07:40:00 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190328005323/ <![CDATA[News - Metal Tiger looking forward to completion of pre-feasibility study at T3 by the end of this month ]]> https://www.proactiveinvestors.co.uk/companies/news/217208/metal-tiger-looking-forward-to-completion-of-pre-feasibility-study-at-t3-by-the-end-of-this-month-217208.html The open pit reserve at the T3 copper project in Botswana has been increased to 34.4mln tonnes grading 1% copper and 13.2 grams per tonne silver, after a significant work programme undertaken by owner, MOD Resources (LON:MOD).

London-based investment company Metal Tiger PLC (LON:MTR) holds around 10.5% of MOD.

WATCH: Metal Tiger's Michael McNeilly upbeat on Kitlanya copper project results

The ore reserve contains 342,700 tonnes of copper and 14.6mln ounces of silver.

The feasibility study for T3 is on track for completion by the end of March 2019.

"We are very pleased to report the significant JORC compliant ore reserve upgrade for MOD's proposed T3 open pit mine project in Botswana,” said Michael McNeilly, chief executive of Metal Tiger.

“The upgrade constitutes a 61% increase in total tonnage compared with the pre-feasibility Study that should positively impact on the already strong project economics.”

 

 

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Tue, 26 Mar 2019 08:48:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/217208/metal-tiger-looking-forward-to-completion-of-pre-feasibility-study-at-t3-by-the-end-of-this-month-217208.html
<![CDATA[RNS press release - T3 Open Pit Reserve Increased to 34.4Mt ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20190325161236_14014854/ Mon, 25 Mar 2019 16:12:36 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10669/LSE20190325161236_14014854/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190312005369/ Tue, 12 Mar 2019 09:07:00 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190312005369/ <![CDATA[News - Metal Tiger jumps as it hails “significant” drilling results from T3 copper project ]]> https://www.proactiveinvestors.co.uk/companies/news/216266/metal-tiger-jumps-as-it-hails-significant-drilling-results-from-t3-copper-project-216266.html Metal Tiger PLC (LON:MTR) shares jumped in early trading Tuesday after it hailed “significant” drilling results from a programme carried out at the T3 copper project in Botswana by investee company MOD Resources, in which it holds a 10.48% stake.

Michael McNeilly, MTR’s chief executive, said the drilling had allowed a “significant portion” of the project’s mineral resource to be categorised as measured, increasing confidence in the project.

Full drilling results here

He added that the results of the programme had the prospect of increasing the current open pit resource at the site.

Going forward, MTR said the 35 holes that still need to be drilled would be completed by the middle of 2019, with an ore reserve and feasibility study for the T3 open pit on track to complete at the end of March.

READ: Metal Tiger encouraged by exploration progress by 34%-owned Kalahari Metals

In total, the drilling programme will have drilled 60 holes.

T3 is located in the Kalahari copper belt, an area in north-west Botswana that contains large amounts of copper and silver and extends for around 800km into neighbouring Namibia.

Shares were up 3.8% at 1.35p.

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Tue, 12 Mar 2019 08:35:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/216266/metal-tiger-jumps-as-it-hails-significant-drilling-results-from-t3-copper-project-216266.html
<![CDATA[RNS press release - Botswana Copper Silver Project T3 Infill Drilling Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190312005327/ Tue, 12 Mar 2019 07:00:00 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190312005327/ <![CDATA[RNS press release - Kalahari Metals Limited Investment Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190311005533/ Mon, 11 Mar 2019 14:12:00 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190311005533/ <![CDATA[News - Metal Tiger encouraged by exploration progress by 34%-owned Kalahari Metals ]]> https://www.proactiveinvestors.co.uk/companies/news/216164/metal-tiger-encouraged-by-exploration-progress-by-34-owned-kalahari-metals-216164.html Recent exploration work undertaken by Kalahari Metals, a company 34%-owned by Metal Tiger PLC (LON:MTR), on the Kitlanya joint venture project has satisfied the first earn in condition and will allow it to take a 25% stake.

The results from soil sampling and the reinterpretation of historic data indicate compelling new targets for follow-up in both Kitlanya West and Kitlanya East.

WATCH: Metal Tiger's Michael McNeilly upbeat on Kitlanya ​copper project results

Further drill targets have also been identified at the Ngami copper project.

 “The results from recently completed soil sampling and re-interpretation of historical data over the Kitlanya Project has provided compelling targets for drill testing,” said Michael McNeilly, chief executive of Metal Tiger.

“We are actively reviewing KML’s proposed diamond and reverse circulation drilling targets as they relate to this additional interpretation and hope to be able to drill targets at Ngami in the near future as well as define drill targets at Kitlanya West and Kitlanya East.”

 

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Mon, 11 Mar 2019 08:12:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/216164/metal-tiger-encouraged-by-exploration-progress-by-34-owned-kalahari-metals-216164.html
<![CDATA[RNS press release - £2.0 million raised through Sprott Offering ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190311005217/ Mon, 11 Mar 2019 07:00:00 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190311005217/ <![CDATA[Media files - Metal Tiger's Michael McNeilly upbeat on Kitlanya copper project results ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/12534/metal-tiger-s-michael-mcneilly-upbeat-on-kitlanya-copper-project-results-12534.html Fri, 08 Mar 2019 16:02:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/12534/metal-tiger-s-michael-mcneilly-upbeat-on-kitlanya-copper-project-results-12534.html <![CDATA[News - Metal Tiger says recent data for the Kitlanya copper project has provided compelling targets for drill testing ]]> https://www.proactiveinvestors.co.uk/companies/news/215978/metal-tiger-says-recent-data-for-the-kitlanya-copper-project-has-provided-compelling-targets-for-drill-testing-215978.html Metal Tiger PLC (LON:MTR) said its investee company Kalahari Metals Limited (KML) has reported that results from recently completed soil sampling and re-interpretation of historical data over the Kitlanya joint venture copper project has provided compelling targets for drill testing.

The AIM-listed investor in strategic natural resource opportunities confirmed that the recent work completed on the Kitlanya project satisfies the first earn-in option for KML to acquire 25% of the project from Resource Exploration and Development Limited (RED), as detailed its announcement of 30 November 2018.

READ: Metal Tiger joint venture identifies drill-ready targets at Ngami and Okavango projects

The company said e-interpretation of magnetic data in Kitlanya East has introduced two new target areas as anticlinal structures rather than historically interpreted synclines.

This is supported by historical soil sampling and drill data, effectively placing the prospective mineralised contact in a fold hinge setting at relatively shallow depths under thin cover, it added. Metal Tiger noted that the northernmost target is situated 5km south of MOD Resources Limited’s (LON:MOD) T3 deposit.

The group also pointed out that re-processing and inversion of historical airborne electromagnetic (AEM) data over Kitlanya West has potentially identified three folded conductive ‘dome’ structures situated in the correct stratigraphy to host copper-silver mineralisation, which are considered excellent candidates for drill testing.

It also added that re-analysis of a selection of historical soil samples from KML’s Ngami Copper Project (NCP). using low concentration partial digest Terraleach geochemistry has identified a distinct zoned copper-lead-zinc anomaly associated with a priority fold-closure target from recent AEM interpretation.

Michael McNeilly, Metal Tiger’s chief executive officer commented: “We are actively reviewing KML’s proposed diamond and reverse circulation drilling targets as they relate to this additional interpretation and hope to be able to drill targets at NCP in the near future as well as define drill targets at Kitlanya West and Kitlanya East.“

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Thu, 07 Mar 2019 07:57:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/215978/metal-tiger-says-recent-data-for-the-kitlanya-copper-project-has-provided-compelling-targets-for-drill-testing-215978.html
<![CDATA[RNS press release - Kalahari Metals Limited Exploration Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190306005906/ Thu, 07 Mar 2019 07:18:00 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190306005906/ <![CDATA[RNS press release - Director Dealing ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190214005958/ Fri, 15 Feb 2019 07:00:00 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190214005958/ <![CDATA[News - Metal Tiger shares jump as it announces premium placing to raise £1mln and non-binding term sheet to raise £3mln ]]> https://www.proactiveinvestors.co.uk/companies/news/214361/metal-tiger-shares-jump-as-it-announces-premium-placing-to-raise-1mln-and-non-binding-term-sheet-to-raise-3mln-214361.html Metal Tiger PLC (LON:MTR) shares jumped in late-morning trading after it announced a placing to raise £1mln and the signing of a non-binding term sheet to raise £3mln.

The natural resource investor said it would place around 70mln new shares at a price of 1.45p each, a 12% premium to its last close price of 1.3p.

READ: Metal Tiger joint venture identifies drill-ready targets at Ngami and Okavango projects

The firm added that for every two placing shares it would issue a warrant entitling the holder to one new share exercisable at a price of 2p during a two-year period from the date of the placing share’s admission.

Metal Tiger added that it had also signed a non-binding term sheet with Sprott Capital Partners LP to complete a non-brokered private placement to raise up to £3mln at the same placing price of 1.45p.

Each share issued in the Sprott offering would entitle the holder to a warrant for a new share exercisable at 2p during the two-year period from admission of the Sprott shares.

The Sprott offering is expected to close on 8 March 2019.

Michael McNeilly, chief executive of Metal Tiger, said the placing would enable the company to “enter into constructive negotiations with Kalahari Metals, regarding the company potentially providing further financing for proposed exploration drilling at the Okavango and Ngami projects”, adding that the £3mln from the Sprott offering would “provide yet further support to our strategy”.

Shares were up 3.8% at 1.35p.

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Mon, 11 Feb 2019 12:16:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/214361/metal-tiger-shares-jump-as-it-announces-premium-placing-to-raise-1mln-and-non-binding-term-sheet-to-raise-3mln-214361.html
<![CDATA[RNS press release - £1.0 million Placing and Non-binding term sheet signed with Sprott to raise up to an additional £3.0 million ]]> https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190211005340/ Mon, 11 Feb 2019 11:37:00 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10669/BWIPREM_20190211005340/ <![CDATA[News - Metal Tiger joint venture identifies drill-ready targets at Ngami and Okavango projects ]]> https://www.proactiveinvestors.co.uk/companies/news/214183/metal-tiger-joint-venture-identifies-drill-ready-targets-at-ngami-and-okavango-projects-214183.html Metal Tiger PLC (LON:MTR) has said its joint venture, Kalahari Metals Limited, has identified drill-ready targets after conducting high-resolution geophysics surveys at the Ngami and Okavango projects in Botswana.

The natural resource investor said that Phase 2 high resolution aerial electromagnetic (AEM) and helicopter-borne magnetic geophysics surveys had identified high-interest targets, including ‘dome style’ exploration areas analogous to the T3 Deposit controlled by MOD Resources Limited.

READ: Metal Tiger confirms Pan Asia Metals will start drilling at Thai lithium project in Q1

Layered Earth inversion modelling of the data had identified several targets for follow-up, including three anticline fold-hinge (‘dome’) targets at Ngami that are considered ready to be drill tested and at the Okavango project, potentially mineralised contacts that had been mapped from Zone 5 deposits (100mln tonnes at 1.95% copper and 19.9 grams per tonne gold), and Zone 5 North (17mln tonnes at 2.27% copper and 43.4 g/t gold).

Michael McNeilly, chief executive of Metal Tiger, said the data and modelling had provided “compelling structural and lithological targets for drill-testing”, adding that the company was actively reviewing Kalahari’s proposed diamond and reverse circulation drilling targets against “the strong likelihood of adding significant value to the project through drilling”.

“KML is awaiting sign off or feedback on the Environmental Management Plan (EMP) shortly for the Ngami licence and further updates will be provided to shareholders in due course.”

In early afternoon trading Thursday, Metal Tiger shares were up 2% at 1.3p.

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Thu, 07 Feb 2019 13:07:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/214183/metal-tiger-joint-venture-identifies-drill-ready-targets-at-ngami-and-okavango-projects-214183.html