Metal Tiger's mission is to deliver a high return for shareholders by investing in significantly undervalued and/or highly prospective opportunities in the mineral exploration and development sector timed to coincide where possible, with a cyclical recovery in the exploration and mining markets.

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12th Mar 2018 Additional Investment into MOD Resources Limited
01st Mar 2018 Directorate change
27th Feb 2018 Investment in Connemara
22nd Nov 2017 Submission of Members Statement to Kingsgate
24th Aug 2017 Botswana Copper/Silver Project – T3 Mineral Resource Estimate Upgraded

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21st Apr 2018 UK Investor Show 21st April 2018


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Metal Tiger shares advance on further positive Botswana findings
14:20 28 Oct 2016

Infill drilling at the T3 resource area is being carried out, the firm said



Metal Tiger PLC (LON:MTR) shares gained ground as it posted further positive drill results from the Botswana joint venture with partner MOD Resources (ASX:MOD).

Infill drilling at the T3 resource area is being carried out to upgrade inferred resources into the higher confidence indicated category and to assist in the design of the scoping study open pit.

Key results from four recent infill drill holes include 48.3 metres at 1.4% copper and 9 g/t (grammes per tonne) silver from 108 metres.

Another hole returned 35.3m at 1.1% copper and 12g/t (grams per tonne) silver from 116 metres.

Alex Borrelli, chief executive at Metal Tiger, said: "Work at the T3 Resource project is progressing well with positive infill drilling results and the completion of a second deep diamond drill hole targeting the Induced Polarisation geophysics anomaly below and down-dip of the T3 Mineral Resource.

"Whilst we currently await the assay grades from the deep IP hole, visual inspection confirms the presence of both disseminated and vein-hosted copper mineralisation at depth below the resource.

"Further IP traverses and initial wide spaced deep drilling will help determine whether this down-dip mineralisation has the potential to provide a resource extension."

He added that further extension to the strike will be tested by a planned programme of reverse circulation (RC) drilling designed to intersect the T3 target sequence over a 14km strike distance.

Giles Gwinnett



Also:

MiningMaven Podcast No 55 with Gervaise Heddle Discussing #Gold #MTR #MOD #GGP + #THR

Gervaise Heddle is our guest once again on todays podcast as we discuss our expectations for the gold price in the context of the US election - now just over a week away.

We then take a look at some of the stocks in which we are mutually invested, with a particular focus on Metal Tiger (LON:MTR) in the light of their recent board changes and progress with MOD Resources (ASX:MOD) in Botswana.

https://audioboom.com/posts/5224899-miningmaven-podcast-no-55-with-gervaise-heddle-discussing-gold-mtr-mod-ggp-thr

1 November 2016

Metal Tiger Plc

("Metal Tiger" or the "Company")

QUARTERLY ACTIVITIES REPORT

Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to announce its Quarterly Activities Report (“QAR” or the “Report”) covering the period from July to September 2016, and subsequent material activities.

The Report was introduced in Metal Tiger’s Strategic and Operational Update announced to market on 25th February 2016 and will align Metal Tiger with normal reporting processes in established resource markets such as the ASX and TSX.

Alex Borrelli Chief Executive Officer of Metal Tiger said “Metal Tiger has once again seen an ambitious quarter of business development and growth. It is particularly pleasing to see that our investment in Botswana yielded a significant, JORC compliant, maiden copper-silver resource statement after only commencing exploration drilling the first quarter of 2016. It is also pleasing to see our intensive work in Thailand lead to the signing of a commercial agreement to permit two commercially attractive and longstanding silver-lead-zinc mines and refurbish the processing plant located at one of the mine sites.

Metal Tiger’s ability to generate considerable investment returns, combined with access to reasonably priced capital has charged our business with the financial liquidity to grow at pace. This has been achieved notwithstanding the difficult sector conditions in quarter 3 2016, and in fact during the couple of years since Metal Tiger commenced activities in mid 2014.

Our work continues as we pursue further rapid growth within our business whilst ensuring we remain diligent and focused on directing Company capital to those resource opportunities offering the most considerable upside potential for shareholders.”

Botswanan Joint Venture (“JV”) (30% Metal Tiger):

• Exploration work continued throughout the quarter, with drilling and sampling work conducted by our JV partners MOD Resources helping to enhance the high grade, near surface copper/silver discovery at T3 and highlight further additional targets for high impact drilling including the T3 IP Anomaly and T2 exploration targets.

• The T3 Project maiden JORC compliant Mineral Resource Estimate of 28.36Mt @ 1.24% Cu & 15.7g/t Ag was released 26 September 2016. With 64% of the total Resource tonnes classified as Indicated, remainder Inferred category, it included circa 350,200 tonnes of copper and 14.3 million ounces of silver (at 0.5% Cu cut-off grade). In addition there is further considerable upside potential both at T3 and across multiple exploration targets within the JV licence area in Botswana.

• The JV is now undertaking a Scoping Study examining the potential of the T3 resource for open-pit mining. On 28 October 2016 the JV announced that metallurgical testwork and preliminary environmental and permitting studies have been completed, the open-pit design optimisation is well advanced and the conceptual plant design was nearing completion.

• On 28 October 2016 the JV also announced encouraging infill drilling results at the T3 Resource and details of the T3 deposit down-dip and strike extension testing.

• JV partners continue to receive interest in the Botswanan work from third parties including major mining organisations and investment funds. Recently this has included interest in Metal Tiger’s 30% minority position and the Company continues to liaise with third parties in this regard. Shareholders should be aware that there can be no assurance that any such interest will lead to a commercial outcome unless this is confirmed via regulatory market announcement.

Thailand JV (90% Metal Tiger):

Firstly, all members of the Metal Tiger community would like to express our heartfelt condolences to the People of Thailand in the passing of His Majesty, King Bhumibol Adulyadej on 13 October 2016. The Company joins in honouring the ongoing grieving process and will continue to follow government guidance on operations during the grieving period as business continues. Below includes a summary of recent activities.

• Advanced negotiations were undertaken early in the quarter in respect of the Boh Yai and Song Toh Silver-Lead-Zinc mines, which are former operating mines with a full existing processing plant on site. Subject to permitting and some refurbishment work the mines are capable of production in the near term.

• On 23 August 2016 Metal Tiger’s Thai Joint Venture announced the signing of a landmark commercial agreement to acquire a material interest in the mine properties. Permitting work and mine restoration planning is now underway with various technical consultants and government agencies including the Department of Primary Industry and Mines. In the ACA Howe 2013 NI 43-101 Compliant Technical Study and Preliminary Economic Assessment (the “2013 PEA”) study commissioned by South East Asia Mining (now Metal Tiger Thailand) the project was given a pre-tax US$75.9million net present value (discount rate 10%), with a circa 13.6 years of mine life at projected processing rates. It is significant that the 2013 PEA made no allowance for the potential to increase the Resource through exploration at depth within the mines and along strike from the mines. The team at Metal Tiger’s Thai Joint Venture have analysed the underlying model and assumptions on which the 2013 PEA was based and the project remains attractive under base case, worst case and best case scenarios.

• Wider exploration programmes continue country-wide in Thailand with a team of geologists and support staff focused on building our in-country knowledge and extensive database. Whilst the focus remains on gathering and collating data pertaining to the Song Toh and Boh Yai mines, and various local and regional exploration targets in the vicinity.

• Special Prospecting License Applications in Kanchanaburi, Prachinbury and Chanthaburi continue to progress through the licencing process and the Company is optimistic that significant approvals may occur within 2016.

• Reflecting the success of the work in Thailand and the expanding work programmes, Metal Tiger Thailand, moved to a new office in August the opening of which was celebrated with a Buddhist Merit Ceremony.

• The Company remains upbeat on the development of the mineral industry in Thailand given recent statements from the Ministry of Industry.

Other Metal Projects:

• In our Spanish JV (50% Metal Tiger) on 19 July 2016 we confirmed issue of the St Cristobal Exploration Licence. The JV update on 18 August 2016 outlined that on-going exploration by our JV partners MEN (Finland) demonstrated considerable gold potential at the Logrosan and Maria licence package, and most notably a two kilometre long gold in soil anomaly. On 25 August 2016 the JV confirmed a new licence application for San Cristobal Sur had been submitted to secure the southerly extension of the Logrosan south gold in soil anomaly announced on 18 August 2016. Exploration work continues and further updates will be provided in due course.

• Our JV relationship with Kibo Mining (LON:KIBO) continues in respect of the Tanzanian Pinewood Uranium and Morogoro Gold projects and further updates in this regard will be provided as soon as practicable.

• The Company’s JV relationship continues with Eurasia Mining (LON:EUA) in respect of the Semenovsky Gold Tailings project and a further update in respect of this interest will be provided as material developments ensue.


http://www.metaltigerplc.com/index.php/investors/latest-news/956-quarterly-activities-report-2016-11-01-090000

QUARTERLY ACTIVITIES REPORT- CONTINUED

Investment Opportunity Pipeline:

• The Metal Tiger project pipeline has advanced significantly. Opportunities exist in relation to existing investments in Botwana, Spain and Thailand where we may be able to augment existing interests to build the inherent value of each country’s investing activities.

• In addition, the Company has a number of new opportunities under review in Australia, Cambodia, Finland, Ireland and the United Kingdom. Opportunities under review are being considered for inclusion within the Metal Tiger portfolio.

• The appointment of Paul Johnson (ex-CEO of Metal Tiger plc) in a senior consultancy role will allow Paul to dedicate his time to evaluating new opportunities and assisting with the handling of potential spin-outs.

Asset Trading Division:

• Active investment programme continued in the quarter with an initial strategic investment in the shares/warrants of Kolar Gold (LON:KGLD), additional investments into MOD Resources (ASX:MOD) via that company’s Rights Issue and additional Strategic Investment tranches in the shares/warrants of Red Rock Resources (LON:RRR) and Thor Mining (LON:THR).

• Metal Tiger’s Asset Trading division now holds material strategic investments Connemara Mining (LON:CON), Conroy Gold (LON:CGNR), Goldstone Resources (LON:GRL), Greatland Gold (LON:GGP), Metal NRG (ISDX:MNRG), Opera Investments (LON:OPRA), Red Rock Resources (LON: RRR) and Thor Mining (LON: THR)

• In addition, the Asset Trading Division holds equity warrants and/or royalties in eleven ASX and AIM listed companies which it expects to yield considerable value for the company in the short to medium term as the resource sector recovery sets in. Most of these warrants were received as part of the strategic financings Metal Tiger has supported across AIM and ASX resource companies in the last two years.

Financial Management, Financial Results and Working Capital:

• Metal Tiger now has a full time Chief Financial Officer engaged on Company business, in line with the demands of a multinational investing company. Consistent systems of accounting and administration are being implemented across the group in line with best practice and the production of streamlined regulatory and internal reporting.

• The Company reported its half year results to 30 June 2016 in the quarter demonstrating an overall profit of £559,400, a net gain on investments of £1,858,200 and overall net assets of £5,199,700.

• In August 2016, Metal Tiger raised a further £1,100,000 at 3.85p in a strategic financing to support its investing activities, principally in respect of Metal Projects activities and following on from the £1,000,000 raised in April 2016.

• Metal Tiger released a current asset update on 22 August 2016 that demonstrated total Current Assets (cash, equities and warrant profit margins only) of £6,526,786 at that time.

• As a proactive resource investing company Metal Tiger has built its working capital position through investment gains in its Asset Trading division, fairly priced secondary financings and through the receipt of additional monies from warrant exercises. The Metal Tiger business retains significant working capital and the Company is fortunate to be in this position in a resource sector where many of our peers are facing extremely difficult conditions.

• Metal Tiger considers that serious resource investment opportunities must be able to stand on their own in respect of corporate management and financing. In respect of the latter and with particular focus on Asian financing for certain Thai activities the Company appointed VSA Capital as Asian focused broker on 5 October 2016.

Corporate Developments:

• On 29 July 2016 the Company held its Annual General Meeting (“AGM”) and all resolutions were passed.

• Metal Tiger announced on 9 August 2016 the launch of Metal Tiger Australia (“MTA”) to house the Company’s internal technical unit and providing a conduit to access and assess new opportunities in Australia and notably Western Australia where the MTA team have considerable experience.

• The Company was pleased to appoint Jordan Luckett as Chief Technical Officer and Executive Director as announced on 19 August 2016. Jordan has extensive experience in the technical mining environment and public company management.

• On 12 September 2016 Metal Tiger announced a Memorandum of Understanding with the Al-Sharif Group based in the Kingdom of Saudi Arabia. The Company is working with the Al-Sharif Group to access mining opportunities and mining capital in the Gulf Cooperation Council region.

• On 10 October 2016 the Company announced a strategic update including details of a Capital Reduction exercise enabling the Company, subject to High Court Approval, to consider and implement financial distributions to shareholders. In this regard the Company has a further General Meeting (“GM”) scheduled for 1 November 2016 to approve the Capital Reduction exercise and for the buyback of Company shares by Metal Tiger plc.

• The 10 October 2016 announcement also included details of the management restructuring whereby Alex Borrelli, an existing Non-Executive Director of the Company, became Company CEO. Alex Borrelli, an experienced public company Director, is also Executive Chairman of BMR Group plc and Non-Executive Chairman of Greatland Gold plc. Paul Johnson, former CEO, has moved into a senior consultancy role focused on assisting the Company with new project pipeline, value crystallisation, asset trading and public/investor relations.

For further information on the Company, visit: www.metaltigerplc.com:

http://www.metaltigerplc.com/index.php/investors/latest-news/956-quarterly-activities-report-2016-11-01-090000

1 November 2016
Metal Tiger Plc

GENERAL MEETING UPDATE AND STATEMENT

Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to announce that both resolutions placed before the General Meeting held earlier today were passed.

Alex Borrelli Chief Executive Officer of Metal Tiger said I am pleased to confirm that at the General Meeting today both the resolutions were approved unanimously by shareholders.

Approval by shareholders of the Capital Reduction process and share buy back facility is a ratification of the stated policy of the Company which is to seek, where practical and realistic, the ability to return value generated to shareholders through a proactive distribution policy.

Further information on the Capital Reduction process and the Distribution Policy are provided below.

Capital Reduction

The Company is to apply to the High Court to obtain approval to implement a reduction in the share capital of the company by cancelling the existing deferred shares and cancelling the share premium account.
The Capital Reduction also required shareholder approval which was the main purpose of the General Meeting.

The Capital Reduction process is a standard and largely administrative process. It will not change the number of ordinary shares in issue or the current nominal value of the Companys ordinary shares.

The process merely permits a Company carrying historical retained losses to distribute cash or other interests to shareholders following completion of the process. This could not be done otherwise because Company law prohibits distribution when the Companys accounts show historical retained losses.

Distribution Policy

Subject to the approval of the High Court of the Capital Reduction, the Company may wish to distribute cash or other interests to shareholders. This may occur in various circumstances and could include where the Company disposes of an interest for cash or equity and wishes to return some or all of the value generated to shareholders. Such distributions may also require further shareholder approval under market rules. Shareholders should be aware that until a distribution is formally announced there is no certainty that any such distribution will occur.

To be clear any such distributions would only be made by reference to shareholders on the register at a specified record time and date. Holders of warrants and options who have not exercised the same at the specified time and date would not be entitled to participate in a distribution.

The Company reserves the right to announce distributions without notice and it is the Companys intention that, subject to relevant laws and regulations any distribution announcement will incorporate a contemporaneous record date.

http://www.moneyam.com/action/news/showArticle?id=5441345

Metal Tiger plc - Quarterly Report
MTR
Thu, 03 Nov 2016, 08:00am GMT

Alex Borrelli, Chief Executive Officer and Paul Johnson, Senior Consultant provide an update on the company's activities, covering the period from July to September 2016. They discuss the recent board changes as well as updates on Metal Tigers projects in Thailand and Botswana which has yielded a significant, JORC compliant, maiden copper-silver resource statement after only commencing exploration drilling in the first quarter of 2016.

https://www.brrmedia.co.uk/broadcasts/5819e0bf7c2ae2f35d38a50d/metal-tiger-plc-quarterly-report

Metal Tiger Plc

FORMER DIRECTOR OPTION CONVERSION

Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to announce that Paul Johnson, former Chief Executive Officer of Metal Tiger plc has provided the Company with an early exercise notice for a portion of his outstanding options.

On 7 November 2016 Paul Johnson issued Metal Tiger with an option exercise for three million shares in the Company at a price of 2p for a total of 60,000.
Alex Borrelli Chief Executive Officer of Metal Tiger said I am delighted that Paul has chosen to exercise his options early which makes a clear statement to market of his belief in the Companys business model and in the future plans and potential of the Company.

The natural resource sector has recently encountered a significantly challenging phase with the share price of many resource companies falling considerably. Metal Tiger has suffered from this sector pullback, but despite this our business is continuing to make material progress.

Much of our work of late has been in the background and shareholders may not be fully aware of the extent of progress at this time. However it is our intent to provide further updates to market in the near term to outline what has been achieved. These updates will encompass the progress of our Joint Ventures in Thailand and Botswana where the Companys key investments are situated.

I would like to take this opportunity to thank shareholders for their continuing support and note that the board recognise the importance of delivering share price performance and, at the appropriate time, returns of value to those shareholders who have committed to the Company and remained on the register.

Share Admission and Total Voting Rights

The 3,000,000 new ordinary shares are expected to be admitted to trading on or around 14 November 2016. Following the issue of the new ordinary shares, the number of ordinary shares in issue in the Company will increase to 659,381,541. For the purposes of the Financial Conduct Authority's Disclosure and Transparency Rules ("DTRs"), the issued ordinary share capital of Metal Tiger following this allotment consists of 659,381,541 ordinary shares with voting rights attached (one vote per share). There are no shares held in treasury. This total voting rights figure may be used by shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in, Metal Tiger under the DTRs.

http://www.moneyam.com/action/news/showArticle?id=5445310

2.30p +0.325 (+16.67%)

There is plenty of demand for the shares this morning after the RNS

From the recent General Meeting:

1 November 2016
"Alex Borrelli Chief Executive Officer of Metal Tiger said I am pleased to confirm that at the General Meeting today both the resolutions were approved unanimously by shareholders.

Approval by shareholders of the Capital Reduction process and share buy back facility is a ratification of the stated policy of the Company which is to seek, where practical and realistic, the ability to return value generated to shareholders through a proactive distribution policy."


"To be clear any such distributions would only be made by reference to shareholders on the register at a specified record time and date. Holders of warrants and options who have not exercised the same at the specified time and date would not be entitled to participate in a distribution."


http://www.moneyam.com/action/news/showArticle?id=5441345

Ex-CEO gives vote of confidence to Metal Tiger
12:10 08 Nov 2016

Paul Johnson has bought 3mln shares in the natural resources investor at a premium price



Shares in Metal Tiger PLC (LON:MTR) gained on Tuesday Morning after it received a vote of confidence from its former boss, Paul Johnson.

Johnson issued the natural resources business with an early exercise notice yesterday, Metal Tiger said.

He will now buy 3mln shares in the firm at a pre-agreed price of 2p per share – a premium to yesterday’s close of 1.95p.

“I am delighted that Paul has chosen to exercise his options early which makes a clear statement to market of his belief in the company’s business model and in the future plans and potential of the company,” said chief executive Alex Borrelli.

When someone exercises their option early and buys shares for more than their market value, it is generally viewed as a bullish move as it suggests they think the price will rise.

Tom Howard

Metal Tiger To Issue Shares At A Premium For Marketing Services (ALLISS)

LONDON (Alliance News) - Metal Tiger PLC Tuesday said it has agreed to issue 1.8 million shares in lieu of cash for marketing, communications and other services that have been provided to the company.

Issue of Equity for Services

The Board of Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource projects is pleased to announce that it has agreed to issue 1,751,128 new ordinary shares in lieu of cash for marketing, communications and other professional services provided to the Company.

291,545 shares are to be issued at 4.025 pence per new ordinary share representing a premium of 106.4% to the mid-market price at close of business on 07 November 2016 and a further 1,459,583 shares are to be issued at 3.25 pence per new ordinary share representing a premium of 66.7% to the mid-market price at close of business on 07 November 2016.

Alex Borrelli, Metal Tiger CEO commented: “It is encouraging that key service providers have opted to receive payment in Metal Tiger shares in lieu of cash and at a material premium to the share price at the time the transactions were agreed.

merely curious ....... does this read to anyone else like creditors being paid off at 50-60p per £1? ...... why else would creditors accept such a thing, when with cash they could buy shares at market price?

2.50p +0.175p

continuing with yesterday's bounce as metals prices are on the rise after Trump wins the US election

Metal Tiger Plc

MEMORANDUM OF UNDERSTANDING METAL TIGER AUSTRALIA AND GREATLAND GOLD

Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to announce the signing of a Memorandum of Understanding (MoU) between Greatland Gold plc (LON:GGP) and Metal Tiger Australia Pty Limited (Metal Tiger Australia or MTA) a wholly owned subsidiary of Metal Tiger plc.

Metal Tiger Australia and Greatland Gold PLC have entered into a non-binding MoU to explore and cooperate on new ventures in the precious metals and strategic base metals sectors. The MoU is for an initial period of 12 months which can be extended if both parties agree.

Terry Grammer Chairman of Metal Tiger said I am pleased to announce this MoU with Greatland Gold which is the first step in leveraging the skill base and contacts housed in MTA.
MTA is based in Perth, Western Australia and the team have access to an extensive range of excellent resource opportunities in Australia and Asia the furtherance of which can create value for Metal Tiger and any prospective partners.
This collaboration with Greatland Gold is the first formalised working arrangement for MTA and we are keen to see progress achieved through this structure as soon as possible.

Memorandum of Understanding Summary of Key Terms

The principle terms of the Memorandum of Understanding are as follows:

1. Metal Tiger Australia and Greatland will explore project level joint venture and/or co-investment opportunities in the precious metals and strategic base metals sectors on a global basis, but such efforts will focus primarily on Australian and Asian based projects.

2. Recognising the relative scale of both companies,Metal Tiger Australia will proactively inform Greatland of early-stage exploration projects it considers to be attractive but that are too early stage for Metal Tiger Austraila, and, Greatland will actively inform Metal Tiger Australia of attractive exploration and development projects that Greatland believes are too large or too complex for Greatland to execute.

3. Greatland and Metal Tiger Australia will work together to expand and solidify their network of industry contacts with a view to increasing new project lead generation.

4. Greatland and Metal Tiger Australia will discuss the viability of establishing an ASX-listed company that will focus primarily on Australian-based projects in the precious and strategic base metals sectors.

5. Both parties will work on a best efforts basis to collaborate on new ventures as outlined in terms above.

http://www.moneyam.com/action/news/showArticle?id=5446810

Metal Tiger Plc

Botswana Update

Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to note MOD Resources (ASX:MOD) announcement today with regard to the Companys Joint Venture (JV) project with MOD Resources in the Kalahari Copper Belt in Botswana (70% MOD Resources / 30% Metal Tiger).

Metal Tiger notes that MOD has announced that it expects the results for Metal Capitals scoping study for a potential open pit mining operation at T3 to be completed and announced during November, one month ahead of when previously anticipated.

Metal Tiger notes that the scoping study has been conducted to evaluate the potential for a 9-10 year mine life with an initial 2Mtpa processing plant on site.

A copy of MODs announcement can be found at the following link:
http://www.asx.com.au/asxpdf/20161114/pdf/43cwb0d8j2nhyp.pdf

Alex Borrelli Chief Executive Officer of Metal Tiger commented:
I am pleased to note the positive development that the scoping study will be completed nearly 1 month ahead of schedule. I look forward to meeting with our JV partners during their visit to London at the end of November and I am very encouraged by the recent gains in the price of copper and the potential to positively impact demand for copper assets.

For further information on the Company, visit: www.metaltigerplc.com:

http://www.moneyam.com/action/news/showArticle?id=5448228

A turn around today with volume, as usual some are talking advantage of the rise and selling just now

Ouch, down 14%, very odd.

Possible Offer and Rule 2.9 announcement
Fri, 25th Nov 2016 16:20

RNS Number : 2225Q
Metal Tiger PLC
25 November 2016
 
25 November 2016
 
Metal Tiger Plc
("Metal Tiger" or the "Company")
 
Statement re. Possible Offer and Rule 2.9 announcement
 
The Board of the Company announces that it has received an indicative offer for the Company ("the Indicative Offer") from BMR Group plc ("BMR" or "the Potential Offeror"). This process is at an early stage and there can be no certainty that an offer will be made for the Company.
 
The Indicative Offer is an all share offer whereby it is proposed that Metal Tiger shareholders will receive 0.231 BMR shares for every 1 Metal Tiger share that they own. Based on the closing share prices of Metal Tiger and BMR as at 24 November 2016, the Indicative Offer represents a discount to the closing price of Metal Tiger shares on 24 November 2016.
 
Rule 2.6(a) of the City Code on Takeovers and Mergers (the "Takeover Code"), requires that the Potential Offeror, by not later than 5.00 p.m. on 23 December 2016 (the "relevant deadline"), either announces a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Takeover Code or announces that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Takeover Code applies.
 
The relevant deadline will cease to apply to the Potential Offeror if another offeror announces, prior to the relevant deadline, a firm intention to make an offer for the Company. In such circumstances, the Potential Offeror will be required to clarify its intentions in accordance with Rule 2.6(d) of the Takeover Code.
 
This is an announcement falling under Rule 2.4 of the Takeover Code and does not constitute an announcement of a firm intention to make an offer under Rule 2.7 of the Takeover Code. There can be no certainty that an offer will be made.
 
A further announcement will be made as and when appropriate.
 
This announcement has been made with the approval of BMR Group plc.

Interesting times ahead!

Not a holder banjomick, but been following the company. Just thought the sp would rise with the news ?

There's a lot going on but initially the SP has gone to roughly where the bid from BMR group values MTR but I think there is more happening in the background and this is just the start, is my take.

14/11/16
"Metal Tiger notes that MOD has announced that it expects the results for Metal Capitals scoping study for a potential open pit mining operation at T3 to be completed and announced during November, one month ahead of when previously anticipated."
http://www.moneyam.com/action/news/showArticle?id=5448228

MOD are also at this event:

28th Nov-1st Dec Mines and Money-London (MOD Resources)