Proactiveinvestors United Kingdom Metal Tiger https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Metal Tiger RSS feed en Mon, 22 Apr 2019 13:53:09 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![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[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[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[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[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[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[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[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[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[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[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
<![CDATA[News - Metal Tiger confirms Pan Asia Metals will start drilling at Thai lithium project in Q1 ]]> https://www.proactiveinvestors.co.uk/companies/news/213751/metal-tiger-confirms-pan-asia-metals-will-start-drilling-at-thai-lithium-project-in-q1-213751.html 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.

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Thu, 31 Jan 2019 16:00:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/213751/metal-tiger-confirms-pan-asia-metals-will-start-drilling-at-thai-lithium-project-in-q1-213751.html
<![CDATA[News - Metal Tiger sells £250,000 worth of MOD Resources shares ]]> https://www.proactiveinvestors.co.uk/companies/news/213704/metal-tiger-sells-250000-worth-of-mod-resources-shares-213704.html 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.

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Thu, 31 Jan 2019 09:15:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/213704/metal-tiger-sells-250000-worth-of-mod-resources-shares-213704.html
<![CDATA[News - Metal Tiger sets out exploration plans for Botswana joint venture ]]> https://www.proactiveinvestors.co.uk/companies/news/213496/metal-tiger-sets-out-exploration-plans-for-botswana-joint-venture-213496.html 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.

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Tue, 29 Jan 2019 09:06:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/213496/metal-tiger-sets-out-exploration-plans-for-botswana-joint-venture-213496.html
<![CDATA[News - Metal Tiger buoyed by bid for partner MOD ]]> https://www.proactiveinvestors.co.uk/companies/news/212960/metal-tiger-buoyed-by-bid-for-partner-mod-212960.html 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 --

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Mon, 21 Jan 2019 09:29:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/212960/metal-tiger-buoyed-by-bid-for-partner-mod-212960.html
<![CDATA[News - Metal Tiger reports encouraging results from drilling and mining study at A4 Dome ]]> https://www.proactiveinvestors.co.uk/companies/news/211552/metal-tiger-reports-encouraging-results-from-drilling-and-mining-study-at-a4-dome-211552.html 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.”

 

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Thu, 20 Dec 2018 08:24:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/211552/metal-tiger-reports-encouraging-results-from-drilling-and-mining-study-at-a4-dome-211552.html
<![CDATA[News - Metal Tiger receives licence confirmations for Botswana joint venture ]]> https://www.proactiveinvestors.co.uk/companies/news/211307/metal-tiger-receives-licence-confirmations-for-botswana-joint-venture-211307.html 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.”

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Mon, 17 Dec 2018 08:12:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/211307/metal-tiger-receives-licence-confirmations-for-botswana-joint-venture-211307.html
<![CDATA[News - Metal Tiger encounters significant copper showings at Tshukudu ]]> https://www.proactiveinvestors.co.uk/companies/news/210840/metal-tiger-encounters-significant-copper-showings-at-tshukudu-210840.html 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.”

 

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Mon, 10 Dec 2018 07:53:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210840/metal-tiger-encounters-significant-copper-showings-at-tshukudu-210840.html
<![CDATA[News - Metal Tiger returns to Greatland Gold's share register, buying shares in the market to amass almost a 0.5% stake ]]> https://www.proactiveinvestors.co.uk/companies/news/210364/metal-tiger-returns-to-greatland-gold-s-share-register-buying-shares-in-the-market-to-amass-almost-a-05-stake-210364.html 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.”

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Mon, 03 Dec 2018 07:59:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210364/metal-tiger-returns-to-greatland-gold-s-share-register-buying-shares-in-the-market-to-amass-almost-a-05-stake-210364.html
<![CDATA[News - Metal Tiger adds more exploration acreage in Botswana copper belt ]]> https://www.proactiveinvestors.co.uk/companies/news/210291/metal-tiger-adds-more-exploration-acreage-in-botswana-copper-belt-210291.html 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.

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Fri, 30 Nov 2018 08:58:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210291/metal-tiger-adds-more-exploration-acreage-in-botswana-copper-belt-210291.html
<![CDATA[News - Metal Tiger looks to resume operations in Thailand as new Mineral Committee appointed ]]> https://www.proactiveinvestors.co.uk/companies/news/210288/metal-tiger-looks-to-resume-operations-in-thailand-as-new-mineral-committee-appointed-210288.html 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.”

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Fri, 30 Nov 2018 08:25:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210288/metal-tiger-looks-to-resume-operations-in-thailand-as-new-mineral-committee-appointed-210288.html
<![CDATA[News - Metal Tiger continues to strike copper on Botswana acreage ]]> https://www.proactiveinvestors.co.uk/companies/news/209653/metal-tiger-continues-to-strike-copper-on-botswana-acreage-209653.html 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.”

 

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Wed, 21 Nov 2018 08:11:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/209653/metal-tiger-continues-to-strike-copper-on-botswana-acreage-209653.html
<![CDATA[News - Metal Tiger completes sale of T3 project and creation of new joint venture ]]> https://www.proactiveinvestors.co.uk/companies/news/209353/metal-tiger-completes-sale-of-t3-project-and-creation-of-new-joint-venture-209353.html 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.

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Fri, 16 Nov 2018 08:15:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/209353/metal-tiger-completes-sale-of-t3-project-and-creation-of-new-joint-venture-209353.html
<![CDATA[News - Metal Tiger releases A1 Dome drilling results as it updates on Kalahari joint venture ]]> https://www.proactiveinvestors.co.uk/companies/news/209257/metal-tiger-releases-a1-dome-drilling-results-as-it-updates-on-kalahari-joint-venture-209257.html 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--

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Thu, 15 Nov 2018 08:11:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/209257/metal-tiger-releases-a1-dome-drilling-results-as-it-updates-on-kalahari-joint-venture-209257.html
<![CDATA[Media files - Metal Tiger CEO and Kalahari Metals director discuss phase 1 exploration programme ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/11096/metal-tiger-ceo-and-kalahari-metals-director-discuss-phase-1-exploration-programme-11096.html Mon, 05 Nov 2018 09:47:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/11096/metal-tiger-ceo-and-kalahari-metals-director-discuss-phase-1-exploration-programme-11096.html <![CDATA[News - Metal Tiger increases stake in KML after exploration identifies numerous exploration targets ]]> https://www.proactiveinvestors.co.uk/companies/news/208210/metal-tiger-increases-stake-in-kml-after-exploration-identifies-numerous-exploration-targets-208210.html 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.... pic.twitter.com/TRWQTruccY

— AMD (@AndyMDon) October 31, 2018 ]]>
Wed, 31 Oct 2018 08:34:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/208210/metal-tiger-increases-stake-in-kml-after-exploration-identifies-numerous-exploration-targets-208210.html
<![CDATA[News - Metal Tiger secures renewal of joint venture prospecting licences in Botswana ]]> https://www.proactiveinvestors.co.uk/companies/news/207909/metal-tiger-secures-renewal-of-joint-venture-prospecting-licences-in-botswana-207909.html 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.

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Fri, 26 Oct 2018 07:29:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/207909/metal-tiger-secures-renewal-of-joint-venture-prospecting-licences-in-botswana-207909.html
<![CDATA[News - Metal Tiger says test work indicates lower costs at T3 copper development ]]> https://www.proactiveinvestors.co.uk/companies/news/207156/metal-tiger-says-test-work-indicates-lower-costs-at-t3-copper-development-207156.html 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.

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Tue, 16 Oct 2018 08:15:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/207156/metal-tiger-says-test-work-indicates-lower-costs-at-t3-copper-development-207156.html
<![CDATA[News - Metal Tiger reports encouraging copper showings from T3 satellite ]]> https://www.proactiveinvestors.co.uk/companies/news/206369/metal-tiger-reports-encouraging-copper-showings-from-t3-satellite-206369.html 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.

 

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Thu, 04 Oct 2018 07:58:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/206369/metal-tiger-reports-encouraging-copper-showings-from-t3-satellite-206369.html
<![CDATA[News - Metal Tiger appoints new finance head ]]> https://www.proactiveinvestors.co.uk/companies/news/206054/metal-tiger-appoints-new-finance-head-206054.html 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.

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Mon, 01 Oct 2018 07:50:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/206054/metal-tiger-appoints-new-finance-head-206054.html
<![CDATA[News - Metal Tiger upbeat over prospects for copper ]]> https://www.proactiveinvestors.co.uk/companies/news/205832/metal-tiger-upbeat-over-prospects-for-copper-205832.html 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. 

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Thu, 27 Sep 2018 08:17:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/205832/metal-tiger-upbeat-over-prospects-for-copper-205832.html
<![CDATA[News - Metal Tiger gets the go-ahead to drill at the T20 Dome Complex in Botswana ]]> https://www.proactiveinvestors.co.uk/companies/news/204609/metal-tiger-gets-the-go-ahead-to-drill-at-the-t20-dome-complex-in-botswana-204609.html 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.”

 

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Tue, 11 Sep 2018 08:33:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/204609/metal-tiger-gets-the-go-ahead-to-drill-at-the-t20-dome-complex-in-botswana-204609.html
<![CDATA[News - Metal Tiger hits more copper mineralisation at the A4 Dome in Botswana ]]> https://www.proactiveinvestors.co.uk/companies/news/204090/metal-tiger-hits-more-copper-mineralisation-at-the-a4-dome-in-botswana-204090.html The latest batch of assay results from the A4 Dome in Botswana, held in joint venture by Metal Tiger PLC (LON:MTR) and MOD Resources Ltd (ASX:MOD), has confirmed further copper intersections.

This mineralisation is just eight kilometres from the T3 project, which already boasts a sizeable resource.

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

Among the better intercepts were 31.2 metres at 1.1% copper and 11 grams per tonne silver, and five metres at 2.2% copper and 22 grams silver.

Assays results for two further holes are pending, with potentially significant visible chalcocite and bornite vein-hosted mineralisation already logged.

Nine holes to date at A4 Dome have intersected copper mineralisation, along only one kilometre of a five kilometre long interpreted structural target zone.

 “We are very pleased to announce further wide copper intersections on the A4 Dome, where drilling is building out copper mineralisation in a way reminiscent of the T3 Deposit,” said Michael McNeilly, chief executive of Metal Tiger.

“We are looking forward to determining whether the visibly strong vein-hosted mineralisation seen in one of the latest holes, MO-A4-008D, correlates with the high-grade assay intersections in hole MO-A4-003D, which are separated by a strike distance of 400m.”

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Tue, 04 Sep 2018 07:26:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/204090/metal-tiger-hits-more-copper-mineralisation-at-the-a4-dome-in-botswana-204090.html
<![CDATA[News - Metal Tiger closes £2.6mln Sprott offering, raising £6.2mln in combination with recent placing ]]> https://www.proactiveinvestors.co.uk/companies/news/203944/metal-tiger-closes-26mln-sprott-offering-raising-62mln-in-combination-with-recent-placing-203944.html Metal Tiger PLC (LON:MTR) has closed its oversubscribed Sprott Offering and has raised £2.6mln to help fund its joint venture project in Botswana.

The AIM-listed natural resources investment group said the funds would be added to those raised by a placing earlier in August, of around 93.4mln new shares issued at a price of 2.8p each, to give a total of around £6.2mln in combination.

READ: Metal Tiger raises funds after another Kalahari drilling success

The firm also said it had accepted a further subscription for new shares from a London-based investor of £15,000 on the same terms as the placing.

Metal Tiger added that the proceeds of the fundraising would be used to fund its portion of the 2018 budget commitment to its joint venture with MOD Resources Limited (ASX:MOD) in the Kalahari copper belt in Botswana, in which it holds a 30% stake, and for its commitment to another joint venture in the same area with Kalahari Metals limited.

Michael McNeilly, chief executive of Metal Tiger, commented the fundraising was “the single largest investment in Metal Tiger to date” and had been done at a price that was significantly higher than the average share price over the course of 2018.

He added that the continued institutional support from London meant the company was “exceptionally well positioned” to move forward with its investments.

In early morning trading, Metal Tiger shares were 7.5% higher at 2.52p.

 -- Adds share price --

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Fri, 31 Aug 2018 07:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/203944/metal-tiger-closes-26mln-sprott-offering-raising-62mln-in-combination-with-recent-placing-203944.html
<![CDATA[News - Metal Tiger sizes up five new Botswana exploration licences, continues on hunt for next T3 ]]> https://www.proactiveinvestors.co.uk/companies/news/203206/metal-tiger-sizes-up-five-new-botswana-exploration-licences-continues-on-hunt-for-next-t3-203206.html Kalahari Metals LTD, a company in which Metal Tiger PLC (LON:MTR) owns a significant stake, has entered into an exclusivity period with Resource Exploration and Development Limited to undertake due diligence with a view to acquiring an additional five exploration licences in Botswana.

The licences include 4,661 square kilometres of recently granted permits in the Kalahari Copper Belt. Kalahari Metals already holds seven exploration licences in Botswana, covering a total of 4,063 square kilometres.

READ: Metal Tiger PLC raises funds as Botswana project continues to impress

Under the investment agreement announced on 6 June 2018, Metal Tiger has the right to acquire up to 50% of Kalahari Metals.

Meanwhile, at two of Kalahari Metals’ copper projects, Okavango and Ngami, magnetic and first phase electromagnetic airborne surveys have been completed.

A total of 16,700 square kilometres of high-resolution magnetic data was collected over priority areas identified at Okavango. Kalahari Metals anticipates final processed survey results by the end of August 2018.

One of the aims is to identify mineralised structures with the potential to host mineralisation in analogous settings to the MOD Resources T3 Deposit, the development of which Metal Tiger has played a significant role in.

“Work continues apace and we look forward to receiving the processed first phase survey results and following on with the interpretation and prioritising of drill targets,” said Metal Tiger chief Michael McNeilly.

 

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Mon, 20 Aug 2018 08:19:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/203206/metal-tiger-sizes-up-five-new-botswana-exploration-licences-continues-on-hunt-for-next-t3-203206.html
<![CDATA[Media files - Metal Tiger PLC raises funds as Botswana project continues to impress ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/10055/metal-tiger-plc-raises-funds-as-botswana-project-continues-to-impress-10055.html Tue, 07 Aug 2018 08:44:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/10055/metal-tiger-plc-raises-funds-as-botswana-project-continues-to-impress-10055.html <![CDATA[News - Metal Tiger raises funds after another Kalahari drilling success ]]> https://www.proactiveinvestors.co.uk/companies/news/202266/metal-tiger-raises-funds-after-another-kalahari-drilling-success-202266.html Metal Tiger PLC (LON:MTR) has received a boost from the latest assay results from the company’s joint venture project with MOD Resources Ltd (ASX:MOD).

The assay results from hole MO-A4-003D on the A4 Dome part of the project in the Kalahari copper belt in Botswana confirm an outstanding copper intersection, located eight kilometres from the joint venture’s T3 project.

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

The intersection contained 52 metres (m) @ 1.5 copper (Cu) and 14 grams per tonne silver (Ag) from 232 metes.

The A4 Dome is one of many domes identified within theT3 Dome Complex.

The news sent MOD’s share price surging 13.6% to A$0.50 on Monday.

Bonanza grade assays for narrow individual veins (i.e. one metre or less) throughout the 52m intersection include 7.8%, 8.4%, 11%, 11.5%, 12.2% and 15.4% Cu, while the highest silver assay is 476g/t Ag which is associated with 15.4% Cu at the base of the 52m intersection.

“MO-A4-003D has turned out to be an extraordinary drill hole. It has intersected two zones of mineralisation in the early stages of drilling at the A4 Dome which shows strong similarities to the dome which underlies the T3 deposit,” said Julian Hanna, the managing director of MOD.

Michael McNeilly the chief executive officer of Metal Tiger, said it was particularly exciting that the intersection is reminiscent of the T3 deposit discovery hole.

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

“With a pipeline of drill targets identified from aerial electromagnetic geophysics in addition to those on the A4 Dome and A1 Dome, within the wider T3 Dome Complex, we are confident we have the potential for further T3 scale discoveries within the JV [joint venture] exploration holding,” McNeilly said.

In a separate announcement, Metal Tiger said it is to raise £3.45mln through a placing of shares and at least £1.15mln through an offering of shares to clients and affiliates of the Sprott Group of Companies.

The new shares will be issued at 2.8p; Metal Tiger shares closed at 3.35p on Friday.

Metal Tiger’s investment in MOD is up around 13.5% overnight, we’ll see if it reflected in their AIM share price. #MTR

— Mushroom Man (@TheMushr00mMan) August 6, 2018

Proceeds from the share issue will be used to fund Metal Tiger’s portion of its commitment to the JV with MOD Resources – Metal Tiger has a 30% stake in the JV - and to finance possible further investment in Kalahari Metals Limited in the same region.

The placing part of the fund-raising will entail the issue of 123.2mln shares, while the Sprott offer will see 41mln shares issued.

All of the newly issued shares will come with one warrant attached that can be exercised within three years to enable the holders to acquire new Metal Tiger share at 5p a pop.

Following the issue of the placing shares, the number of ordinary shares in issue in the company will increase to 1.25bn.

“For investors wanting exposure to the highly prospective Kalahari copper belt in Botswana, Metal Tiger offers a unique way of gaining de-risked exposure in early and later-stage development projects. This investment will allow the company to further cement its position on the belt as we continue to deliver value to our shareholders,” McNeilly said.

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Mon, 06 Aug 2018 07:49:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/202266/metal-tiger-raises-funds-after-another-kalahari-drilling-success-202266.html
<![CDATA[News - Metal Tiger says its Thai joint venture is now clear to formally progress licence applications ]]> https://www.proactiveinvestors.co.uk/companies/news/201932/metal-tiger-says-its-thai-joint-venture-is-now-clear-to-formally-progress-licence-applications-201932.html Metal Tiger PLC’s (LON:MTR) plans to spin-off its interests in the Song Toh and Boh Yai mines in Thailand have received a boost.

The investor in mineral projects said the Thai Cabinet approved the 20-year mineral management strategy (2017-2036) and the five-year mineral management master plan for 2017-2021, so both the strategy and the Master Plan are effective immediately.

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

Uncertainty over when, or even if, the Thai government would give the green light had led to Metal Tiger yanking plans to float shares in its Thai joint venture (JV); the other JV partners are the Karnchanaburi Exploration and Mining Company (KEMCO), Boh Yai Mining Company (BYMC) and Pornnaret Klipbua.

The upshot of Tuesday’s announcement is that the Thai JV can formally progress all licence applications.

The strategy and Master Plan aims to integrate Thailand’s management of mineral resources while ensuring that the mining industry will be environmentally friendly, with an elevated focus on the quality of life of people affected by the mining industry.

“The 20-year mineral management strategy and the first five-year mineral management master plan has been under consideration by the Government of Thailand for over a year, and this represents a major milestone and the removal of a major hurdle that has kept Metal Tiger’s mining projects in Thailand from progressing. We are delighted that the Thai mining and exploration licence applications are now in a position to progress towards granting,” said Michael McNeilly, the chief executive officer of Metal Tiger.

Shares in Metal Tiger were unchanged in afternoon trading.

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Tue, 31 Jul 2018 13:49:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/201932/metal-tiger-says-its-thai-joint-venture-is-now-clear-to-formally-progress-licence-applications-201932.html
<![CDATA[News - Metal Tiger juggles asset base with T3 sale ]]> https://www.proactiveinvestors.co.uk/companies/news/201075/metal-tiger-juggles-asset-base-with-t3-sale-201075.html Metal Tiger PLC (LON:MTR) has re-focused its portfolio following the disposal of its 30% stake in the T3 copper prospect in Botswana to partner MOD Resources PLC (LON:MOD).

The junior received shares in the London and Aussie-quoted MOD while a new joint venture, Tshukudu, has been set up to continue exploration in 18 other licences in the Kalahari Copper Belt.

Metal Tiger has invested around £3.8mln into T3 and the restructuring allows it to maintain its interest without having to contribute to mine construction costs.

Consolidation of T3 under MOD's sole ownership should also make development financing easier to arrange.

Metal Tiger became MOD’s largest shareholder following the transfer with a 12.5% stake and has a net smelter royalty over T3 up to a value of US$2mln.

Exploration in Botswana

Metal Tiger’s exploration activity in Botswana is now focused through two investment vehicles.

Tshukudu, the 30/70 venture with MOD, and Kalahari Metals, a JV with Resource Exploration and Development (RED).

At Kalahari Metals, Metal Tiger has the option to take a 50% stake for US$1.6mln. Currently its stake is 34%.

In total, the two ventures have licences that cover an area of 16,000 sq km or roughly three-quarters the size of Wales.

Among the Tshukudu licences is the T20 exploration target, within which is the T23 Dome, a prospect that lies 100km west of the T3 Project.

If confirmed, T23 will be the sixth significant copper mineralisation found on the joint venture licences over the last 3 years.

In addition, exploration has started on the T2 and T4 prospects.

Metal Tiger said it has invested around £3.8mln into the T3 joint venture and this deal will allow it to maintain its interest without having to contribute to mine construction costs while also benefiting from further exploration.

The Kalahari copper belt extends from northern Botswana into Namibia.

Thailand back on the agenda

The firm has revived its plans 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, but 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.

 Applications for licences at the Song Toh and Boh Yai silver, lead and zinc mines can now move forward, it believes.

Asset trading

In addition to its direct investments, the company also has an asset trading division.

Most recently, the company acquired a 0.46% interest in Greatland Gold PLC (LON:GGP)

Metal Tiger also has a substantial stake in Thor Mining PLC (LON:THR).

Broker ses exploration upside

RFC Ambrian believes the significant exploration programme underway might see the value of the portfolio change significantly in the future.

The broker has a 'buy' rating with a target price of 3.6p.

At 1.30p, shares were £18.2mln.

 

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Wed, 18 Jul 2018 15:55:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/201075/metal-tiger-juggles-asset-base-with-t3-sale-201075.html
<![CDATA[News - Metal Tiger sells stake in T3 copper prospect to Aussie partner ]]> https://www.proactiveinvestors.co.uk/companies/news/201020/metal-tiger-sells-stake-in-t3-copper-prospect-to-aussie-partner-201020.html Mining group Metal Tiger PLC (LON:MTR) has sold its 30% stake in the T3 copper prospect in Botswana to partner MOD Resources.

Metal Tiger will receive A$8.3mln (£4.6mln) in shares based on a price of A$0.48 per share for Aussie-listed MOD. Options exercisable at nil cost over the next three years take the value of the transaction to A$27.7mln.

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

A new joint venture is also being set up on a 70/30 MOD/Metal Tiger basis to continue exploration in 17 other licences in the Kalahari Copper Belt.

Metal Tiger said it has invested around £3.8m in the T3 joint venture and this deal will allow it to maintain its exposure without the requirement to contribute to mine construction costs while keeping an interest in the further exploration.

Consolidation of T3 under MOD's sole ownership should also make development financing easier to arrange.

Metal Tiger will become MOD’s largest shareholder following the transfer and have a net smelter royalty over T3 up to a value of US$2mln.

Michael McNeilly, Metal Tiger's chief executive, said the agreement had taken five months to conclude and provided the optimal path forward for the T3 Project. 

"The new exploration JV preserves and also formalises Metal Tiger and MOD’s highly successful exploration partnership in the Kalahari Copper Belt."

Shares in Metal Tiger rose 3% to 2.93p.

-- Adds share price -- 

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Wed, 18 Jul 2018 08:04:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/201020/metal-tiger-sells-stake-in-t3-copper-prospect-to-aussie-partner-201020.html
<![CDATA[News - Metal Tiger boosts indicated resource at T3, reserves could now exceed PFS model ]]> https://www.proactiveinvestors.co.uk/companies/news/200831/metal-tiger-boosts-indicated-resource-at-t3-reserves-could-now-exceed-pfs-model-200831.html Metal Tiger PLC (LON:MTR) has boosted the indicated resource at the T3 copper project in Botswana by 13% to 417,000 tonnes of copper and 18.6mln ounces of silver.

The indicated portion of the resource represents 70% of the total resource, which is currently estimated at 60mln tonnes of ore grading 0.98% copper and 14 grams silver, for a contained 590,000 tonnes of copper and 27mln ounces of silver.

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

“Following on from the T3 mineral resource estimate update announced on July 2nd, we are delighted to report that a resource re-classification review has resulted in a substantial increase of contained copper in the higher-confidence-indicated category,” said chief executive Michael McNeilly.

“The project’s technical team consider that the resource upgrade may well support an increase in the design throughput of the planned T3 processing plant, and that there is now the potential that the feasibility study ore reserve could significantly exceed the ore reserve used in the PFS.”

 

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Mon, 16 Jul 2018 08:16:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/200831/metal-tiger-boosts-indicated-resource-at-t3-reserves-could-now-exceed-pfs-model-200831.html
<![CDATA[News - Kalahari Metals begins Botswana exploration in further boost to Metal Tiger ]]> https://www.proactiveinvestors.co.uk/companies/news/200445/kalahari-metals-begins-botswana-exploration-in-further-boost-to-metal-tiger-200445.html Kalahari Metals, a privately-held company in which Metal Tiger LTD (LON:MTR) has recently invested, has begun exploration for copper and silver in Botswana.

The company holds interests in seven highly prospective exploration licences covering 4,063 square kilometres 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.

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

Metal Tiger has the right to acquire up to 50% of Kalahari Metals under a deal signed in June, giving it further exposure to largely unexplored ground, adjacent to significant recent discoveries in the highly prospective Kalahari Copper Belt.

Kalahari Metals will conduct airborne magnetic and electromagnetic surveys on the prospective Okavango project and Ngami copper project concessions.

 “We are very pleased to announce the start of what will, not doubt, be an exciting and hopefully rewarding exploration programme over the two Kalahari Metals Limited Okavango and Ngami Copper Projects in a world class copper region in Botswana,” said Michael McNeilly, chief executive of Metal Tiger.

“With the Okavango project located directly along strike from the major Cupric Canyon Capital copper deposits and the Ngami project located to the north of our T3 feasibility-stage joint venture project, Metal Tiger enjoys very significant exposure to the potential discovery of new copper and silver deposits.”

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Tue, 10 Jul 2018 07:52:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/200445/kalahari-metals-begins-botswana-exploration-in-further-boost-to-metal-tiger-200445.html
<![CDATA[News - Metal Tiger hits more copper on the T3 Dome Complex in Botswana ]]> https://www.proactiveinvestors.co.uk/companies/news/200336/metal-tiger-hits-more-copper-on-the-t3-dome-complex-in-botswana-200336.html Metal Tiger PLC (LON:MTR) has logged significant visible copper sulphides in core from the latest diamond drill hole testing the A4 Dome on the company’s Botswana joint venture with MOD Resources (ASX:MOD).

The mineralisation was intersected in veins over a 67 metre downhole interval from 232 metres to 299 metres downhole depth.

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

The dominant copper vein mineralisation is chalcopyrite, with localised bornite and chalcocite increasing with depth in the vein zone.

The A4 Dome is first of seven ‘buried domes’ to be drilled in T3 Dome Complex as part of a major drilling campaign, with five drill rigs now operating.

“We are delighted to report that the latest drill hole testing the core of the A4 Dome has intersected what looks to be significant copper sulphide mineralisation,” said Michael McNeilly, chief executive of Metal Tiger.

“The onsite geologists are particularly excited by the stockwork morphology of the mineralisation which is a style previously unseen by the joint venture drilling. This has further implications in that the A4 Dome appears to be an intact dome, so any vein hosted mineralisation deposited within the dome should still be there. Everyone is looking forward to receiving the assay results.”

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Mon, 09 Jul 2018 07:48:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/200336/metal-tiger-hits-more-copper-on-the-t3-dome-complex-in-botswana-200336.html
<![CDATA[News - Metal Tiger boosts copper resource at T3, appoints Potter chief investment officer ]]> https://www.proactiveinvestors.co.uk/companies/news/199929/metal-tiger-boosts-copper-resource-at-t3-appoints-potter-chief-investment-officer-199929.html Metal Tiger PLC (LON:MTR) has boosted the copper resource at the T3 project in Botswana to 60mln tonnes grading 0.98% copper and 14 grams per tonne silver to give a contained total of 590,000 tonnes of copper and 27mln ounces of silver.

Metal Tiger owns 30% of T3, with the remaining 70% held by joint venture partner MOD Resources Limited (ASX:MOD).

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

What’s more, 46% of the upgraded resource is now classified in the indicated category.

“We are delighted to report a substantial Resource upgrade for the T3 Open Pit deposit,” said Michael McNeilly, Metal Tiger’s chief executive.

“The T3 Project Team is now assessing how the rResource increase will impact on the T3 open pit mine economics, with potential that mine life and production could be extended.”

As it stands, the company has modelled production at 28,000 tonnes per year over 12 years, giving earnings of more than US$1.1bn.

“With drilling continuing within the wider T3 Dome Complex we are hopeful that further significant copper deposits might be discovered within similar buried domes, and we look forward to reporting further exciting results,” continued McNeilly.

Separately, Metal Tiger has appointed Mark Potter as Chief investment officer. Potter was formerly a director and chief investment Officer of Anglo Pacific Group plc (LON:APF), where he successfully led a turnaround of the business through acquisitions, disposals of non-core assets and successful equity and debt fundraisings. Prior to Anglo Pacific Group he was a fund manager at Audley Capital Advisors, a natural resources investor.

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Mon, 02 Jul 2018 07:52:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/199929/metal-tiger-boosts-copper-resource-at-t3-appoints-potter-chief-investment-officer-199929.html
<![CDATA[News - Metal Tiger shares rise as it hits more copper to the west of the well-established T3 project in Botswana ]]> https://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 https://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[Media files - Metal Tiger looks to acquire up to 50% of Botswanan focused Kalahari Metals ]]> https://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 https://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 ]]> https://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 https://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[News - Metal Tiger highlights “a year of great progress” ]]> https://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 https://www.proactiveinvestors.co.uk/companies/news/198011/metal-tiger-highlights-a-year-of-great-progress-198011.html
<![CDATA[News - Metal Tiger completes infill and extension programme drilling at T3 (Motheo) Pit resource ]]> https://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 https://www.proactiveinvestors.co.uk/companies/news/197624/metal-tiger-completes-infill-and-extension-programme-drilling-at-t3-motheo-pit-resource-197624.html