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Metal Tiger notes deadline extension for Cobre’s KML transaction

The transaction is due to complete in December as the due diligence period has been extended

Metal Tiger PLC - Metal Tiger notes deadline extension for Cobre’s KML transaction

Metal Tiger PLC (LON:MTR) told investors it has extended the deadline for closing its transaction with partner and associate Cobre for the Kalahari Metals venture.

Presently, Metal Tiger owns a 62.17% interest in Kalahari Metals Limited (KML) and owns an 18.79% shareholding in Cobre.

READ: Metal Tiger continues to spotlight Botswana potential

Cobre is set to acquire 51% of KML and the deadline for the transactions has been moved to December 20, 2020, to allow for the completion of due diligence.

As a result of transactions currently in process, it will own 20.72% of Cobre and have a 59.57% economic interest in KML – 49% direct and 10.57% via its stake in Cobre.

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Price: 22.1 GBX

Market: AIM
Market Cap: £334.27 k

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