logo-loader
viewMetal Tiger PLC

Metal Tiger says investee company gets the green light to begin Botswana drill programme

AIM-listed Metal Tiger owns 50% of Kalahari Minerals

1558593346_Horizonte---examing-drill-core.jpg
Drilling will start early next month on Kalahari Metals’ Ngami Copper Project

Metal Tiger PLC (LON:MTR) shares rose on Thursday said drilling will start early next month on Kalahari Metals’ Ngami Copper Project following environmental sign-off from the authorities in Botswana.

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

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

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

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

AIM-listed Metal Tiger owns 50% of Kalahari.

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

 -- Adds share price --

 

 

Quick facts: Metal Tiger PLC

Price: 1.325 GBX

AIM:MTR
Market: AIM
Market Cap: £20.21 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Metal Tiger PLC named herein, including the promotion by the Company of Metal Tiger PLC in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Metal Tiger's McNeilly details new funding arrangement and share buyback plans

Metal Tiger's (LON:MTR) Michael McNeilly discusses with Proactive London's Andrew Scott the plans around its share buyback programme.  MTR intends to buy back up to 155.9mln shares - equivalent to 10% of the current issued share capital of the company. McNeilly also talks through its...

on 19/12/19

2 min read