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Metal Tiger looking forward to completion of pre-feasibility study at T3 by the end of this month

Metal Tiger's stake in MOD is currently worth around £5.5mln

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T3 is set to become a significant copper producer

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.”

 

 

Quick facts: Metal Tiger PLC

Price: 1.325 GBX

AIM:MTR
Market: AIM
Market Cap: £20.21 m
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on 19/12/19

2 min read