Metal Tiger PLC (LON:MTR) has revealed that a prospectus has been lodged with the Australian and Securities and Investment Commission in respect of the initial public offering of Pan Asia Metals Ltd, in which it currently holds a 7.29% stake.
The anticipated listing date is late September 2020.
Pan Asia already has one prospecting licence in Thailand, in respect of a tungsten project, and is likely to be awarded another one before the listing.
“We are pleased to report that PAM has now lodged its prospectus for an IPO on the ASX,” said Metal Tiger chief executive Michael McNeilly in a statement. “With lead brokers appointed, it is anticipated that PAM’s IPO will complete in late September 2020."
Pan Asia Metals is a private Singapore-registered specialty metals exploration and development company focused on the exploration and development of specialty and base metal projects in South East Asia’s tin tungsten belt.
Pan Asia Metals has four wholly-owned projects: Reung Kiet lithium project, KSTP, Bang Now lithium project, and the Minter tungsten project. RKLP, KSTP and BNLP are located in southern Thailand, whilst MTP is located in the Lachlan Fold Belt, New South Wales, Australia.
Metal Tiger also noted that drilling at the Kitlanya East project in Botswana has now resumed. Kitlanya East is owned by Kalahari Metals, a company in which Metal Tiger has a 62.2% stake.