Proactiveinvestors United Kingdom Metal Tiger Proactiveinvestors United Kingdom Metal Tiger RSS feed en Tue, 19 Feb 2019 01:15:44 +0000 Genera CMS (Proactiveinvestors) (Proactiveinvestors) <![CDATA[RNS press release - Director Dealing ]]> Fri, 15 Feb 2019 07:00:00 +0000 <![CDATA[News - Metal Tiger shares jump as it announces premium placing to raise £1mln and non-binding term sheet to raise £3mln ]]> 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.

Mon, 11 Feb 2019 12:16:00 +0000
<![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 ]]> Mon, 11 Feb 2019 11:37:00 +0000 <![CDATA[News - Metal Tiger joint venture identifies drill-ready targets at Ngami and Okavango projects ]]> 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.

Thu, 07 Feb 2019 13:07:00 +0000
<![CDATA[RNS press release - Kalahari Metals Limited – High-Resolution Geophysics Identifies Drill-Ready Targets ]]> Thu, 07 Feb 2019 12:36:00 +0000 <![CDATA[News - Metal Tiger confirms Pan Asia Metals will start drilling at Thai lithium project in Q1 ]]> Australian explorer Pan Asia Metals, in which Metal Tiger PLC (LON:MTR) holds a 13.6% stake, is to kick off a 5-10 hole drilling campaign at its Reung Kiet lithium project in Thailand within the next few weeks.

News of the programme comes after Pan Asia was formally awarded special prospecting licences by Thai authorities. The approvals last for five years, covering the company until 2024.

READ: Metal Tiger sells £250,000 worth of MOD Resources shares

“Pan Asia Metals is one of the few Lithium exploration companies which is positioned to build competitively priced Lithium Carbonate and Lithium Hydroxide manufacturing capacity and is currently the only lithium exploration company located on the doorstep of key consumers in SE Asia and Asia more generally,” said Metal Tiger chief executive Michael McNeilly.

“We are delighted that the Thai government have granted the SPLA's to Pan Asia Metals and look forward to continuing to work with all stakeholders as we realise this highly important resource.”

Metal Tiger shares were down 1.4% in late afternoon trading on Thursday.

Thu, 31 Jan 2019 16:00:00 +0000
<![CDATA[RNS press release - Update on Pan Asia Metals Limited Investment ]]> Thu, 31 Jan 2019 15:50:01 +0000 <![CDATA[News - Metal Tiger sells £250,000 worth of MOD Resources shares ]]> Metal Tiger PLC (LON:MTR) has sold a slug of the shares it owns in Aussie-listed copper explorer MOD Resources.

The natural resources investor sold 1.5mln MOD shares on the open market for A$0.3062 apiece, bringing in a total of A$459,000 (£254,000).

READ: Metal Tiger sets out exploration plans for Botswana JV

Last week, Metal Tiger agreed to take up its 1-for-13 entitlement under the MOD rights issue priced at A$0.24 a share.

The money raised from today’s share sale is expected to cover most of the costs associated with taking up its entitlements under the rights offering, should MTR decide to do so.

Metal Tiger still holds a 10.5% stake – just shy of 30mln shares – in MOD. It also has an additional 40.67mln unquoted options with a nil exercise price as well as options over another 154,167 shares, exercisable at A$0.06.

Metal Tiger shares dropped 1.4% to 1.36p on Thursday morning.

Thu, 31 Jan 2019 09:15:00 +0000
<![CDATA[RNS press release - On Market Sale MOD Resources Limited ]]> Thu, 31 Jan 2019 07:07:00 +0000 <![CDATA[News - Metal Tiger sets out exploration plans for Botswana joint venture ]]> Metal Tiger PLC (LON:MTR) has said that the feasibility study for the T3 Copper project in Botswana remains on track for completion in the first quarter of this year.

Metal Tiger owns approximately 12.5% of MOD Resources, which in turn owns the T3 project.

READ: Metal Tiger CEO and Kalahari Metals director discuss phase 1 exploration programme

Meanwhile, Tshukudu Exploration, a joint venture established by MOD and Metal Tiger to hold 18 exploration licences over 8,163 square kilometres of ground, continues to make progress.

“The period saw significant advancements the exploration work, undertaken by both MOD and the JV, continuing to deliver encouraging drilling results that demonstrate the potential of the area,” said Metal Tiger chief executive Michael McNeilly. 

“The tireless work by our JV partners and our on the ground team has continued to add value to the JV. 2019 will no doubt prove to be an exciting year with T3 moving towards a decision to mine and the extensive JV land holdings continuing to indicate new copper discoveries.”

During the first quarter, the joint venture partners plan to conduct follow-up drilling of very encouraging shallow mineralisation along the T4-T23 Dome area and undertake initial testing of the extensive copper-zinc soil anomalies within the adjacent T20 exploration project.

During the second half of 2019, the plan is to conduct follow-up drilling on the A4 Dome.

Tue, 29 Jan 2019 09:06:00 +0000
<![CDATA[RNS press release - Botswana Copper Silver Project MOD JV Copper Project Quarterly Update ]]> Tue, 29 Jan 2019 07:56:00 +0000 <![CDATA[News - Metal Tiger buoyed by bid for partner MOD ]]> Metal Tiger PLC (LON:MTR) was a strong riser on Monday as the London-listed shares of its Australian partner MOD Resources Limited (LON:MOD, ASX:MOD) shot higher after receiving an unsolicited bid approach from Sandfire Resources (ASX:SFR).

Sandfire has made a non-binding indicative offer of 38c a share just as MOD has completed launched an A$15mln, which comprised a fully underwritten rights issue at 24c and an institutional placing at 30c per share.

READ: Metal Tiger reports encouraging results from drilling and mining study at A4 Dome

MOD said the offer “undervalues MOD’s unique and extensive assets” even though it is pitched at a substantial premium to both the prices of the fundraiser and the market price beforehand.

The company owns 100% of the T3 copper project in Botswana and listed in London in November to raise awareness about the project.  

In a statement revealing the offer, as well as confirming the capital raise, MOD said: “The Company is willing to engage with Sandfire and grant confirmatory due diligence if a compelling price is presented and capable of being supported by the Board and MOD shareholders.”

But, it added: “MOD has not received any offer capable of acceptance by the Company's shareholders and no certainty that the Indicative Proposal will result in a transaction.”

Metal Tiger confirmed that it has made a non-binding commitment to take up its entitlements under the rights issue.

MOD’s managing director, Julian Hanna said: “Funding from this capital raise will enable the Company to progress the T3 Copper Project towards a development decision and conduct further drilling for additional resources.”

He added; “The unsolicited, indicative proposal for 100% of the Company received from Sandfire confirms the potential of the T3 Copper Project, however, the Board considers it significantly undervalues the assets of the Company.”

In afternoon trading in London, shares in dual-listed MOD were up 60.7% to 22.50p, while Metal Tiger shares were up 22.5% to 1.5p.

Metal Tiger owns 12.5% of MOD and substantial options after it swapped its stake in T3 for shares in its partner and 30% of an exploration joint venture in numerous licences that surround the T3 copper development.

 -- Adds further detail, updates share prices --

Mon, 21 Jan 2019 09:29:00 +0000
<![CDATA[RNS press release - MOD Resources A$15m Capital Raise and Non-Binding Offer Received by MOD ]]> Mon, 21 Jan 2019 09:15:00 +0000 <![CDATA[News - Metal Tiger reports encouraging results from drilling and mining study at A4 Dome ]]> Metal Tiger PLC (LON:MTR) has reported positive results from the first phase of drilling and preliminary conceptual mining study at the A4 Dome in Botswana.

In 18 of the 20 holes drilled at A4 Dome, a joint venture by Metal Tiger and MOD Resources Ltd (ASX:MOD), copper mineralisation was intersected.

Drill hole intersections included significant widths and grades of both veins and Ngwako Pan Formation (NPF) contact type mineralisation.

Independent underground mining consultants, Entech Pty Ltd, carried out the preliminary conceptual underground mining study of the A4 Dome. Metal Tiger said the initial findings of the study were “very encouraging”.

READ: Metal Tiger hits more copper mineralisation at the A4 Dome in Botswana

The company expects a decision to progress the A4 Dome programme towards a potential mineral resource estimate in early 2019. 

The A4 Dome lies just eight kilometres from the T3 project, which boasts a sizeable resource.

“We are delighted to report the results of the first phase of drilling and a preliminary conceptual underground mining study on the A4 Dome, both of which indicate the potential for another significant copper resource only 8km from the planned T3 Project processing plant,” said chief executive Michael McNeilly.

“The findings provide strong support for a decision to step out the drilling to the rest of the A4 Dome prospective target area and start to work towards an A4 Dome maiden resource in early 2019. We look forward to updating shareholders on our progress in the new year.”


Thu, 20 Dec 2018 08:24:00 +0000
<![CDATA[RNS press release - Botswana Copper Silver Project A4 Dome Drilling Update ]]> Thu, 20 Dec 2018 07:00:00 +0000 <![CDATA[News - Metal Tiger receives licence confirmations for Botswana joint venture ]]> Tshukudu Exploration, Metal Tiger LImited’s (LON:MTR) new joint venture in the Kalahari Copper Belt in Botswana has had all of its exploration licences renewed.

A new prospecting licence has also been awarded to the joint venture.

READ: Metal Tiger jumps as prospecting licences extended in Botswana

Tshukudu was formed as the result of a re-jigging of the relationship with MOD Resources PLC (LON:MOD).

Metal Tiger now owns 30% of Tshukudu and a 12.5% direct stake in MOD, which is separately developing the T3 copper mine and owns 70% of Tshukudu.

Michael McNeilly, Metal Tiger’s chief executive, said: “These extensions, together with the new prospecting licence, secure title over a very prospective tract of the Kalahari Copper Belt, including the Central Structural Corridor which is yielding some very exciting targets and offers the potential of new copper deposit discoveries.”

Mon, 17 Dec 2018 08:12:00 +0000
<![CDATA[RNS press release - Botswana Copper Silver Project – Prospecting Licences Extended & Transferred ]]> Fri, 14 Dec 2018 11:31:00 +0000 <![CDATA[News - Metal Tiger encounters significant copper showings at Tshukudu ]]> Metal Tiger PLC (LON:MTR) has intersected wide zones of finely disseminated chalcocite and bornite copper mineralisation from 85 metres to 385 metres downhole a the Tshukudu exploration joint venture in Botswana.

A strongly mineralised vein at 268 metres shows potential for high-grade intersections. Assay results are awaited.

WATCH: Metal Tiger CEO and Kalahari Metals director discuss phase 1 exploration programme

Metal Tiger holds a 30% interest in Tshukudu Exploration, with MOD Resources Ltd (ASX:MOD) holding the remaining 70%.

In addition, Metal Tiger holds approximately 12.5% of the issued share capital of MOD.

“We are delighted to report another intersection of shallow copper mineralisation on the T23 Dome, which forms part of the T20 Exploration Project, 100km west of the T3 Project,” said Metal Tiger’s chief executive Michael McNeily.

“With further drilling targets identified by the latest geophysics data interpretation and soil sampling results, we have a qualified pipeline of further exploration drilling targets and a good prospect of new discoveries for 2019.”


Mon, 10 Dec 2018 07:53:00 +0000
<![CDATA[RNS press release - Botswana Copper/Silver Project T23 Dome Exploration Update ]]> Mon, 10 Dec 2018 07:00:00 +0000 <![CDATA[News - Metal Tiger returns to Greatland Gold's share register, buying shares in the market to amass almost a 0.5% stake ]]> Metal Tiger PLC (LON:MTR) has returned to Greatland Gold PLC’s (LON:GGP) share register, buying shares in the market to amass almost a 0.5% stake in the Australia-focused gold, copper and nickel explorer.

The AIM-listed investor in strategic natural resource opportunities said it has purchased 14,700,000 ordinary shares in Greatland Gold at an average price of 1.72p per share, representing approximately 0.46% of the company’s issued share capital.

READ: Metal Tiger sells entire shareholding in Greatland Gold, CEO steps down as director of the miner

Metal Tiger announced in October 2017 that it had sold its entire previous shareholding in Greatland and the natural resources investor’s chief executive stepped down as a non-executive director of the miner.

The firm’s holding in Greatland then had been 3.811%, having been diluted down from 5.2%.

Michael McNeilly, Metal Tiger’s chief executive officer commented: “Metal Tiger is delighted to once again become a shareholder of Greatland Gold following the recent announcement of a world class gold discovery at Greatland’s Havieron licence in the Paterson region of Western Australia.

“We are highly encouraged by the indicative size of this new gold discovery at Havieron, given the exceptional drilling and geophysical results Greatland has announced to date.”

He added: “Today’s announcement reflects Metal Tiger’s focus on acquiring minority equity investments in natural resource projects that demonstrate considerable upside potential.

“We are confident that through this strategy we can continue to add significant value to Metal Tiger’s Direct Equities portfolio over the coming months.”

Mon, 03 Dec 2018 07:59:00 +0000
<![CDATA[RNS press release - Purchase of interest in Greatland Gold plc ]]> Mon, 03 Dec 2018 07:00:00 +0000 <![CDATA[News - Metal Tiger adds more exploration acreage in Botswana copper belt ]]> Metal Tiger PLC (LON:MTR) has doubled its exploration acreage in the Kalahari Copper Belt in Botswana.

An earn-in agreement has been signed with Resource Exploration and Development (RED) over five recently granted exploration licences covering 4,661sq km.

Metal Tiger’s 50% owned joint venture Kalahari Metals (KML) will pay US$100,000 to acquire up to 25% of the licences, with an option to increase this to 75% through a further payment of US$700,000.

KML’s exploration interests in the Kalahari belt more than double to 8,724 sq km with the option.

Tshukudu Metals, Metal Tiger separate joint venture with MOD Resources Limited (LON:MOD) has a similar amount of exploration acreage in Botswana.

The RED Licences comprise three licences immediately south of MOD Resources’ T3 Deposit and Cupric Canyon Capital’s Chalcocite Zone deposit while the other two are along strike of KML’s Ngwako Copper project next to the border with Namibia.

MOD Resources is developing the T3 Dome copper mine and is Metal Tiger’s long-standing partner in Botswana.

Tshukudu Metals is exploring the area around T3. Metal Tiger also has a 12.5% direct holding in MOD

Michael McNeilly, Metal Tiger's chief executive, said the option increases its exposure to highly prospective ground within the Kalahari Copper Belt, which across the separate KML and MOD joint ventures covers an area of around 16,000 sq km, an equivalent area to over three quarters the size of Wales.

"A regional soil sampling programme is due to start immediately over Kitlanya East [one of the new prospects] and airborne geophysics are planned," said McNeilly.

Fri, 30 Nov 2018 08:58:00 +0000
<![CDATA[News - Metal Tiger looks to resume operations in Thailand as new Mineral Committee appointed ]]> Metal Tiger PLC (LON:MTR) expects to resume operations in Thailand following the recruitment of the final six members of the country’s new Mineral Committee.

Exploration effectively came to a halt in 2017 while a new Minerals Act was introduced.

The Mineral Committee has responsibility for a wide range of issues including bidding procedures, prospecting licences and health and environmental assessments.

Metal Tiger believes the recruitment of the Mineral Committee has cleared the last major legislative hurdle to the resumption of the permitting process in Thailand and its applications for licences at Kemco and Boh Yai can go forward.

Michael McNeilly, chief executive, said: “The appointment of the final six Mineral Committee members represents a major milestone and the removal of a major hurdle that has kept Metal Tiger’s mining projects in Thailand from progressing.

“We now look forward to restoring the application process for our Thai assets.”

Fri, 30 Nov 2018 08:25:00 +0000
<![CDATA[RNS press release - Kalahari Metals Limited – Earn-in Agreement Doubles Exploration Landholding ]]> Fri, 30 Nov 2018 07:00:00 +0000 <![CDATA[RNS press release - Exercise of Warrants in Thor Mining ]]> Wed, 28 Nov 2018 15:30:00 +0000 <![CDATA[News - Metal Tiger continues to strike copper on Botswana acreage ]]> Metal Tiger PLC (LON:MTR) has reported visible signs of metal from first drilling on its new target in the Kalahari copper belt in Botswana.

The mining junior recently re-jigged its interest in the area by swapping a direct stake in the T3 prospect for 30% of Tshukudu Exploration, a joint venture which has numerous licences in the surrounding area.

READ: Grades at Galileo’s Star zinc project indicate upside could be greater than previously thought

MOD Resources (ASX:MOD), which is set to list in London soon, holds the remaining 70% of Tshukudu.

“Diamond drilling in the first two widely spaced holes at the T23 Dome has intersected visible copper mineralisation at very shallow depth that may be of significant potential,” said the statement.

T23 Dome is 100km west of the T3 Project and if confirmed will be the sixth significant copper mineralisation found on the joint venture licences over the last 3 years.

Michael McNeilly, Metal Tiger’s chief executive, said: “We are delighted to report the intersection of shallow copper mineralisation on the T23 Dome.

 “With drilling at the T23 Dome returning potentially significant visible copper intersections and rigs being mobilised to follow-up on the previous high-grade intersections at T4, we are looking forward to a potentially exciting new chapter of Kalahari copper discoveries.”


Wed, 21 Nov 2018 08:11:00 +0000
<![CDATA[RNS press release - Botswana Copper Silver Project T23 Dome Shallow Copper Mineralisation Intersected ]]> Wed, 21 Nov 2018 07:00:00 +0000 <![CDATA[News - Metal Tiger completes sale of T3 project and creation of new joint venture ]]> Metal Tiger PLC (LON:MTR) has completed the sale of the T3 project in Botswana as well as creating a new joint venture (JV) company formed by itself and partner MOD Resources Limited.

The AIM-listed natural resources investor said eight of the 18 exploration licenses held in a previous JV had already been transferred to the new JV, called Tshukudu Exploration, while the remaining 10 would be transferred after receiving ministerial approval from the Botswana government.

READ: Metal Tiger releases A1 Dome drilling results as it updates on Kalahari joint venture

Tshukudu is held through a 70%/30% split between MOD and Metal Tiger respectively and was initially announced in July when Metal Tiger agreed to sell its 30% stake in the T3 prospect to MOD for A$8.3mln in shares.

While T3 will now be 100% owned by MOD, Metal Tiger said at the time that the deal would allow it to maintain its exposure without the requirement to contribute to mine construction costs while keeping an interest in the further exploration.

READ: Metal Tiger sells stake in T3 copper prospect to Aussie partner

The JV also allowed the two firms to continue exploration in the 17 other licenses in the Kalahari Copper Belt.

The deal means Metal Tiger has become MOD’s largest shareholder with a net smelter royalty over T3 up to a value of US$2mln.

Michael McNeilly, chief executive of Metal Tiger, was appointed to the board of MOD with immediate effect and said that following the transaction MOD would be able to “maximise the benefits of available financing options relating to the T3 project” now it had 100% ownership.

He added that Metal Tiger’s “increased interest” in MOD and the New JV meant it was in a “strong position to benefit from the underexplored, district scale potential of the Kalahari Copper Belt”.

In early trading, Metal Tiger shares were up 1.4% at 1.8p.

Fri, 16 Nov 2018 08:15:00 +0000
<![CDATA[RNS press release - Completion of Sale of T3 Project ]]> Fri, 16 Nov 2018 07:00:00 +0000 <![CDATA[News - Metal Tiger releases A1 Dome drilling results as it updates on Kalahari joint venture ]]> Metal Tiger PLC (LON:MTR) has released the results of its first phase of drilling at the A1 Dome as it updated on the activity of its joint venture in the Kalahari Copper Belt in Botswana.

The resources investor said six widely spaced diamond drill holes had been completed at A1, located around 22 kilometres from its T3 Copper project, and had confirmed “wide disseminated copper intersections” in two drill holes:

• MO-A1-005D: 130 metres at 0.52% copper and 3.5 grams per tonne (g/t) of Silver from 590m, which would be Ngwako Pan Formation (NPF) contact in the first quarter of 2019

• MO-A1-006D: 52m at 0.61% copper and 4.6 g/t of Silver from 624m, including 1.4m at 3.8% copper and 26 g/t of silver from 673m on NPF contact

WATCH: Metal Tiger CEO and Kalahari Metals director discuss phase 1 exploration programme

Michael McNeilly, chief executive of Metal Tiger, said the drilling had confirmed the exploration model for discovering copper mineralisation associated with structural domes, adding that the NPF hosts the majority of the known higher-grade copper mineralisation on the Kalahari Copper Belt.

The company also said it was expecting assay results from a recently completed 20-hole diamond drilling programme at the A4 Dome that would increase the understanding of the T3 Expansion Project potential.

Drilling was also progressing at the T23 Dome within the T20 exploration project, the firm said, adding that it was designed to test the potential for shallower depth NPF Contact related copper intersections copper along regional scale copper-belt strike extensions.

In early trading Thursday, Metal Tiger shares were steady around 1.7p.

--Adds share price--

Thu, 15 Nov 2018 08:11:00 +0000
<![CDATA[RNS press release - Notification of Major Holdings ]]> Thu, 15 Nov 2018 07:00:00 +0000 <![CDATA[Media files - Metal Tiger CEO and Kalahari Metals director discuss phase 1 exploration programme ]]> Mon, 05 Nov 2018 09:47:00 +0000 <![CDATA[RNS press release - Change of Adviser ]]> Thu, 01 Nov 2018 07:30:00 +0000 <![CDATA[RNS press release - Sale of T3 Project and creation of New Exploration Joint Venture with MOD Resources ]]> Thu, 01 Nov 2018 07:00:00 +0000 <![CDATA[News - Metal Tiger increases stake in KML after exploration identifies numerous exploration targets ]]> Metal Tiger PLC (LON:MTR) reported that phase one of the exploration programme at the Kalahari Metals Limited (KML) copper-silver project has been completed on schedule.

The AIM-listed investment company said it has increased its stake in KML to 34% from 18% after exercising an option to do so at a cost of US$500,000 in cash, Metal Tiger has options to raise its stake to 50%.

READ: Kalahari Metals begins Botswana exploration in further boost to Metal Tiger

The increased stake size was revealed in an update by Metal Tiger on the two KML projects: Okavango and Ngami.

Metal Tiger said drilling at the Ngami Copper Project is to be allowed to proceed under an Environmental Management Plan (EMP) as agreed with the Botswana Department of Environmental Affairs. The timeframe to complete the EMP process is normally four months.

The Okavango copper project, on the other hand, will require a more detailed Environmental Impact Assessment (EIA) to be produced prior to permission to drill being granted. The timeframe to complete the more detailed EIA process, through to grant, is normally nine months.

Results from the Phase-1 Aerial Electromagnetic (AEM) geophysics survey and Layered Earth (LE) inversion modelling, for both the Ngami Copper Project (NCP) and Okavango Copper Project (OCP) licence areas, has generated numerous ‘dome style’ exploration targets analogous to the MOD Resources T3 Deposit.

READ: MOD Resources increases T3 indicated copper resource by 13%, drill testing additional potential extensions

Some priority follow-up target areas have been interpreted from areas where potentially mineralised contact appears within shallow anticlinal hinge zones, Metal Tiger said.

“The state-of-the-art Layered Earth Inversion modelling technique employed on the Phase-1 Airborne Electromagnetic survey data has greatly added to our understanding of the buried geology of the licence areas,” said Michael McNeilly, the chief executive officer of Metal Tiger.

“This innovative 3D modelling method has enabled the visualisation of potentially mineralised hidden structures and geological contacts, accelerating the exploration process and fast-tracking the identification of areas for further follow-up as potential drill targets,” he added.

Meanwhile, it was confirmed that KML has spent US$307,842 of the required US$600,000 stage 1 earn-in expenditure requirement, as per its agreement with Triprop Holdings, the owner of the exploration licences.

READ: Metal Tiger higher on plans to acquire up to 50% of Botswanan-focused explorer Kalahari Metals

Shares in Metal Tiger were up 1.4% at 1.875p in early deals.

#MTR #MOD #copper

“A circumstance where your business gets better and better and your share price gets worse and worse is a speculator’s dream.”

Rick Rule CEO, Sprott Global (MAJOR investor in Metal Tiger.)

Unbelievably undervalued but not for long....

— AMD (@AndyMDon) October 31, 2018 ]]>
Wed, 31 Oct 2018 08:34:00 +0000
<![CDATA[RNS press release - Kalahari Metals Limited Phase 1 Exploration & Investment Update ]]> Wed, 31 Oct 2018 07:00:00 +0000 <![CDATA[News - Metal Tiger secures renewal of joint venture prospecting licences in Botswana ]]> Several prospecting licences in Botswana that were due to expire at the end of 2018 have been renewed, Metal Tiger PLC (LON:MTR) said.

The copper/silver licences are held by the joint venture (JV) company in which Metal Tiger has a 30% stake and include PL 190/2008, which holds the T3 copper project, the T3 expansion project and the A4 dome.

READ: Metal Tiger says test work indicates lower costs at T3 copper development

Ministerial approval has been received for the transfer of eight joint venture licences (excluding PL 190/2008) from Tshukudu Metals Botswana (Pty) Ltd into a new Botswana registered JV exploration company, Tshukudu Exploration (Pty) Ltd, in which MOD Resources (ASX:MOD) has a 70% stake and Metal Tiger has 30%. The transfer approval for a further 10 licences is pending.

Metal Tiger said the transfer of the eight JV licences will help mitigate risk by separating exploration activities, conducted by Tshuduko Exploration, from future development activities, which will be conducted by Tshukudu Metals.

“This timely renewal secures tenure and retains 100% of the prospective ground under licence,” said Michael McNeilly, the chief executive officer of Metal Tiger.

“The renewal of the T3 project licence and the transfer of remaining prospective licences into a new joint venture exploration focussed vehicle is also an important step in the agreement for MOD to acquire the T3 Project outright and for MTR to realise substantial value for the deposit whilst still enjoying the potential upside from further exploration discoveries. The transfer of the T3 project into a 100% held vehicle should streamline the project’s financing options,” he added.

Fri, 26 Oct 2018 07:29:00 +0100
<![CDATA[RNS press release - Botswana Copper/Silver Project Licences Extended ]]> Fri, 26 Oct 2018 07:00:00 +0100 <![CDATA[News - Metal Tiger says test work indicates lower costs at T3 copper development ]]> Metallurgical test work at the T3 copper project in Botswana has indicated lower production costs than previously estimated, Metal Tiger PLC (LON:MTR) reported today.

“The findings of the feasibility level metallurgical test work are particularly encouraging with the coarser grind metal recoveries supporting a reduction in anticipated capital, operational and power costs versus the Pre-Feasibility Study stage model”, said Michael McNeilly chief executive.

READ: Metal Tiger reports encouraging copper showings from T3 satellite

A Pre-Feasibility Study (PFS) Base Case in January for an open pit mine 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 cash flow 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 the start of production of 2.7 years.

McNeilly added the Feasibility Study for T3 remains on track to complete in March 2019, with the engineering and design work both on schedule and within budget.

Botswana Power has also started building the regional electricity grid infrastructure including a power line due to pass within 12km of the planned mine site.

The first stage of the accommodation village is complete.

T3 is being developed through a joint venture with MOD Resources.

Metal Tiger has agreed to sell its 30% stake in the JV to MOD in return for shares plus options in the Aussie-listed miner.

That deal is scheduled to complete by the end of the month.

MOD is the operator at T3 and said it is working with debt finance advisers over funding for the project.

An environmental report is expected to be submitted in the final quarter of the year.

Tue, 16 Oct 2018 08:15:00 +0100
<![CDATA[RNS press release - Botswana T3 Feasibility Study Update ]]> Tue, 16 Oct 2018 07:00:10 +0100 <![CDATA[RNS press release - NOTIFICATION OF MAJOR HOLDINGS ]]> Tue, 09 Oct 2018 08:16:00 +0100 <![CDATA[News - Metal Tiger reports encouraging copper showings from T3 satellite ]]> Metal Tiger PLC (LON:MTR) has confirmed copper intersections from a potential satellite to the T3 project in Botswana.

Best of the assays from the A4 Dome, which is 8km from T3, indicated copper over a width of 42.9m from a depth of 258m. Ten holes in the core of the A4 Dome showed visible mineralisation with three indicating copper at grades above 2%.

READ: Metal Tiger appoints new finance head

Drilling at A4 Dome has concentrated on a 1,600m long by 800m wide zone in the centre of the dome, the “Target Zone”, initially using 200m by 200m drill spacing.

Other targets are also being drilled 1 km west of the Target Zone.

Michael McNeilly, chief executive, said the drilling continues to build out the copper mineralisation within the target area.

Though still early, the size and tenor of the target outlined thus far was encouraging, he added, and the proximity of the planned T3 Processing Plant makes the prospect of delineating a new satellite deposit ‘even more compelling’.

The A4 Dome and the A1 Dome, together with the T3 Deposit, form part of the 700 sq km T3 Dome Complex.

Metal Tiger recently re-jigged its Kalahari Copper Belt holdings, with ASX-listed partner MOD now holding 100% of the T3 deposit while the surrounding licences remain in a 70/30 joint venture.

MOD holds the majority stake in the joint venture.


Thu, 04 Oct 2018 07:58:00 +0100
<![CDATA[RNS press release - Botswana Copper Silver Project A4 Dome Intersection Update ]]> Thu, 04 Oct 2018 07:00:00 +0100 <![CDATA[News - Metal Tiger appoints new finance head ]]> Metal Tiger PLC (LON:MTR) has appointed Malcolm Bacchus as its new finance director following the decision of Keith Springall to step down.

Bacchus has worked with Metal Tiger previously as a consultant and his role will be part-time and not a board appointment. Since 2011, he has also been a consultant to a number of other small and AIM-listed companies. Springall, who was also company secretary, has resigned to pursue other opportunities.

Mon, 01 Oct 2018 07:50:00 +0100
<![CDATA[RNS press release - Directorate change ]]> Mon, 01 Oct 2018 07:00:00 +0100 <![CDATA[News - Metal Tiger upbeat over prospects for copper ]]> Mining junior Metal Tiger PLC (LON:MTR) reported a mixed half year with good progress at its Botswana joint venture offset by a drop in the value of its investment portfolio.

Net assets at end June were US$11.5mln or 0.97p per share compared to 1.328p in December.

READ: Metal Tiger gets the go-ahead to drill at the T20 Dome Complex in Botswana

A US$3.1mln fall in the value of its direct investment portfolio was responsible for the dip and accounted for the majority of an interim loss of US$4.5mln.

During the period, Metal Tiger restructured its interest in the T3 joint venture in Botswana and acquired an 18% stake in KML, which is also exploring for copper in the country.

The outlook for copper remains bright, it said, given limitations on supply and the important role of copper in the global economy. 

T3, a joint venture with Australian explorer MOD has the potential to become a world class copper asset, it added.

At the end of August, Metal Tiger raised £6.2m at a price of 2.8p per share. 

Thu, 27 Sep 2018 08:17:00 +0100
<![CDATA[RNS press release - Half-year Report ]]> Thu, 27 Sep 2018 07:00:00 +0100 <![CDATA[RNS press release - Notification of Major Holdings ]]> Fri, 21 Sep 2018 07:00:00 +0100 <![CDATA[RNS press release - Holding(s) in Company ]]> Tue, 18 Sep 2018 07:00:00 +0100 <![CDATA[News - Metal Tiger gets the go-ahead to drill at the T20 Dome Complex in Botswana ]]> Metal Tiger PLC (LON:MTR) has been granted approval from the Department of Environmental Affairs in Botswana for its environmental management plan relating to drilling part of the T20 Dome Complex, which is highly prospective for copper.

Metal Tiger holds its interest in T20 in a joint venture with MOD Resources Ltd (ASX:MOD).

WATCH: Metal Tiger PLC raises funds as Botswana project continu es to impress

The environmental management plan covers drilling within 700 square kilometres in the northern part of the T20 Dome Complex, approximately 80 kilometres west of the T3 Dome Complex, where the joint venture partners are developing a mine.

Diamond core drilling at T20 is likely to start in the fourth quarter of 2018, subject to a four-week public review period starting 21 September 2018.

“We are very pleased to announce the receipt of the Environmental Management Plan approval for the planned drill programme within the A20 Dome Complex,” said chief executive Michael McNeilly.

“Subject to a statutory four-week public review period, this approval will allow for diamond drilling to commence over the T4 Prospect, a strong copper anomaly, where previous RC drilling in early 2016 intersected shallow high-grade copper and silver mineralisation, only superseded by the discovery of T3. We are excited at the prospect that T4 and the wider T20 Dome Complex will yield further high-grade intersections and are eager to apply the team’s technical knowledge to the discovery of further copper deposits in this part of the emerging copper belt.”


Tue, 11 Sep 2018 08:33:00 +0100