Metal Tiger PLC (LON:MTR) is to delay the planned listing of its silver-lead-zinc mines in Thailand until the first quarter of 2018.
Underlying the decision is speculation as to how exactly the new Thai Minerals Act will affect in-country operations and how the Thai National Management Policy Committee will make decisions regarding special mining zones and economic plans.
Metal Tiger has had strong support for the IPO from family offices and a leading commodities trading house, but the feedback is more time is needed for assessment of the new mining regime in Thailand.
READ: Metal Tiger believes it has only scratched surface in Thailand and Botswana
The company will write to pre-IPO investors requesting that they extend the conversion of their warrants beyond the agreed 13 October date.
Separately, Metal Tiger has appointed Natural Resources Global Capital Partners Limited to provide strategic and financial advice in connection with its 30% holding in the Botswanan joint venture with MOD Resources.
NRG will work alongside the Company’s existing natural resources specialist adviser, RFC Ambrian Limited.