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.
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