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Metal Tiger notes MOD Resources update on progress at T3 copper project

MOD, in which Metal Tiger owns a 10.48% stake, said an environmental and social impact assessment for T3 had been released for public review in Botswana

Metal Tiger Plc - Metal Tiger notes MOD Resources Ltd update on progress at T3 copper project

Metal Tiger Plc (LON:MTR) has noted an announcement by MOD Resources Ltd (LON:MOD) on the progress of the permitting progress of its T3 copper mine in Botswana.

MOD, in which Metal Tigers holds a 10.48% stake, said in an announcement to the Australian Stock Exchange on Tuesday that Botswana’s Department of Environmental Affairs (DEA) had finalised its assessment of an environmental and social impact assessment (ESIA) for the T3 project and was about to release it for public review.

READ: Metal Tiger updates investors on Kalahari Metals projects

The company said the public review would be for four weeks, after which it expected the ESIA to be approved, after which it would be able to apply for a mining licence.

Julian Hanna, MOD’s managing director, said the release of the ESIA to the public review was a “very important milestone” in the process of obtaining a licence.

In a separate announcement, Metal Tiger said it had also extended its exclusivity period to 30 August with Cobre Pty Ltd, an Australian copper explorer in which it agreed to invest an initial A$500,000 for a 15% stake as part of its initial public offering.

In lunchtime trading on Tuesday, Metal Tiger shares were steady at 1.2p.

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Price: 24.88 GBX

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Market Cap: £38.13 m
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