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Metal Tiger PLC (MTR)
banjomick
- 10 May 2016 16:21
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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mentor - 23 Aug 2016 10:26 - 141 of 474
banjo
are you part of it too?
are you part of it too?
banjomick
- 23 Aug 2016 10:44
- 142 of 474
I'm a shareholder if that's what you mean but only a relatively small holding.
banjomick
- 23 Aug 2016 10:50
- 143 of 474
Metal Tiger reports more indications of copper at T2 zone in Botswana
09:28 23 Aug 2016
Three more holes drilled at T2 along the trend of the original discoveries (down-dip) also indicated good widths of copper
Metal Tiger PLC (LON:MTR) has identified sizeable copper mineralisation from follow-up drilling at the T2 prospect in Botswana.
A week ago, Metal Tiger reported a new potential discovery at T2 as two shallow drill holes hit copper zones with widths of 15m and 10m.
Three more holes drilled at T2 along the trend of the original discoveries (down-dip) also indicated good widths of copper but deeper Metal Tiger said.
One hole intersected a 29m copper interval from 49m down, another 21m from a depth of 85m and the third 26m from 146m.
Paul Johnson, Metal Tiger’s chief executive, added: “The preliminary findings show that the down-dip intersections contain wider intervals of visible copper mineralisation.
“Given that the T2 West copper-in-soil anomaly consists a 1.5km wide zone, the team are now stepping out on a new drill section 250m to the east, where we are hopeful of intersecting the same mineralised formation.”
He added that assay samples would need to be analysed before the grades of copper in the holes could be assessed.
The T2 prospect is the second major copper target currently being explored by MOD Resources, Metal Tiger’s partner, at the project located in the Kalahari copper belt.
A resource estimate is expected at the other target, T3, next month following a forty-plus hole drilling programme.
MOD is the operator of the project with a 70% stake, while Metal Tiger has 30%.
Philip Whiterow
and from earlier this morning:
Metal Tiger reveals plenty of ammo remains in the armoury
09:28 23 Aug 2016
Three more holes drilled at T2 along the trend of the original discoveries (down-dip) also indicated good widths of copper
Metal Tiger PLC (LON:MTR) has identified sizeable copper mineralisation from follow-up drilling at the T2 prospect in Botswana.
A week ago, Metal Tiger reported a new potential discovery at T2 as two shallow drill holes hit copper zones with widths of 15m and 10m.
Three more holes drilled at T2 along the trend of the original discoveries (down-dip) also indicated good widths of copper but deeper Metal Tiger said.
One hole intersected a 29m copper interval from 49m down, another 21m from a depth of 85m and the third 26m from 146m.
Paul Johnson, Metal Tiger’s chief executive, added: “The preliminary findings show that the down-dip intersections contain wider intervals of visible copper mineralisation.
“Given that the T2 West copper-in-soil anomaly consists a 1.5km wide zone, the team are now stepping out on a new drill section 250m to the east, where we are hopeful of intersecting the same mineralised formation.”
He added that assay samples would need to be analysed before the grades of copper in the holes could be assessed.
The T2 prospect is the second major copper target currently being explored by MOD Resources, Metal Tiger’s partner, at the project located in the Kalahari copper belt.
A resource estimate is expected at the other target, T3, next month following a forty-plus hole drilling programme.
MOD is the operator of the project with a 70% stake, while Metal Tiger has 30%.
Philip Whiterow
and from earlier this morning:
Metal Tiger reveals plenty of ammo remains in the armoury
deltazero - 23 Aug 2016 12:52 - 144 of 474
thai rns just out
banjomick
- 23 Aug 2016 12:54
- 145 of 474
23 August 2016
Metal Tiger Plc
("Metal Tiger" or the "Company")
Thailand - Commercial Mines Joint Venture Agreement Signed
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to announce that on Saturday 20 August 2016 the Company successfully concluded commercial negotiations and a Joint Venture Agreement (“JVA”) was signed in respect of the Song Toh and Boh Yai Silver-Lead-Zinc mines in Western Thailand. The JVA was subject to certain regulatory clearances which were received on 22 August 2016.
The JVA governs the process and ownership elements of a transaction where the principal objective is to permit and bring back into production the Silver-Lead-Zinc mines at Boh Yai and Song Toh (the “Mineral Properties”).
We refer readers to the market announcement by the Company dated 11 April 2016 covering the Standstill Letter Agreement (the “SLA”) relating to the Mineral Properties, as extended by the Company’s announcement dated 7 July 2016.
The parties to this JVA are the Karnchanaburi Exploration and Mining (KEMCO) Company Limited (“KEMCO”), Boh Yai Mining Company Limited (“BYMC”) and Pornnaret Klipbua (“Pornnaret”) the majority and controlling shareholder of both KEMCO and BYMC (the “Mine Vendors”). Also, Metal Group Co. Ltd (“Metal Group”) and Metal Tiger Exploration Company Limited (“MTE”) (the “Joint Venture Companies”); and finally Metal Tiger plc (as defined above).
KEMCO and BYMC hold several Historical Mining Lease Applications and the physical mining and processing plant assets at the centre of this transaction.
Paul Johnson, Chief Executive Officer of Metal Tiger commented:
“We are delighted to confirm a successful outcome to our contractual negotiations and this signed JVA. The Boh Yai and Song Toh mines represent an exceptional opportunity for all parties to this agreement and we look forward to the Joint Venture pushing proactively forward. As is Metal Tiger’s policy we will continue to regularly update the market with developments.
The Joint Venture will be proactively pursuing the various stages of the permitting process and the structure of the transaction is such that near term transactional costs are modest, with the larger payments scheduled for post permitting approvals when the inherent value of the project should have increased materially.
A transaction of this type, in effect a collaboration between Thai interests and a UK listed entity, are relatively rare at the moment. Given our knowledge of the Thailand business environment, and the opportunities available, we are very pleased to reach this pivotal stage.
The JVA represents the culmination of a significant amount of work by all parties and Metal Tiger would like to note on record its thanks for the dedication and support of all the parties engaged in this process of negotiations.
Metal Tiger is privileged to be investing in Thailand, a country that holds substantial opportunities for respectful, diligent and committed investors. We would reiterate that our objective is to invest in and help develop Thai resource opportunities, for the primary benefit of the Thai people, and to do so with an absolute focus on the protection of the environment and the communities with whom we engage.
As part of our communications and in addition to the engagement we are undertaking in Thailand we will be holding meetings in the UK with our Thai Joint Venture partners and Corporate Social Responsibility Manager present, to enable any shareholders, investors and other market participants to have their questions and queries addressed in a public forum.”
Pornnaret Klipbua, Managing Director of KEMCO and BYMC commented:
“I am delighted with the successful outcome following extensive negotiations with Metal Tiger and their Thai Joint Venture Partners. Metal Tiger with their financing capability and their Thai Joint Venture Partners with their sector and in-country knowledge have demonstrated to me that they have the requisite abilities to make this a highly viable partnership and I look forward to diligently working with them to successfully permit and bring back into production the Song Toh and Boh Yai Silver-Lead-Zinc mines.
This is an exciting project that will provide hundreds of jobs in Kanchanaburi and be of major benefit to the local Thai economy as well as the Thai people in general. It is my firm belief that this partnership will lay the foundation for further investment opportunities for Metal Tiger in the natural resources sector in Thailand.”
Highlights:
• Metal Tiger has agreed a right for its Thai Joint Venture Companies to acquire 80% of the shares of BYMC which holds several Mining Lease Applications. In addition, the transactional rights include the transfer of granted licences from KEMCO into BYMC thereby centralising the Mineral Property interests into one operating company.
• All activities in respect of operations shall be managed on behalf of the parties by various JV Management Committees. Metal Tiger will provide finance against an agreed budget. All operational matters are solely in the hands of the local Joint Venture team.
• The transaction is based on defined payments set against a defined delivery schedule and a commitment from Metal Tiger plc to fund up to US$1,500,000 in respect of permitting costs. Reflecting the acquisition of ownership rights the following payments are to be made to the Mine Vendors:
• Total of US$130,000 on signing the SLA payable as US$50,000 in cash and US$80,000 payable in Metal Tiger shares (US$130,000 already paid);
• Total of US$800,000 on signing the JVA payable as US$400,000 in cash and US$400,000 payable in Metal Tiger shares (payable no later than 2 September 2016);
• Total of US$6,000 per month which amounts to US$108,000 over an estimated 18 month permitting period for the general costs of the Mine Vendors including the costs of maintaining the current staff base keeping the mines on a care and maintenance basis whilst permitting is undertaken;
• Total of US$500,000 payable in cash on the granting of BYMC Mining Lease Applications;
• Total of US$625,000 payable as US$250,000 in cash and US$375,000 in Metal Tiger plc shares on the commencement of construction (ie plant, housing, water treatment and some mine refurbishment);
• Total of US$625,000 payable as US$250,000 in cash and US$375,000 in Metal Tiger plc shares on the commencement of commercial mineral production;
• Total of US$1,500,000 in respect of a hire purchase agreement on production to transfer the physical assets of the mine and processing plant into the BYMC;
• In addition the Joint Venture will guarantee the Mine Vendors, against their ownership interest an annual a minimum of US$200,000 profit share for the first five years of mine operations (ie US$1,000,000 in total guaranteed).
Reflecting all the above the total payments, at the volition of Metal Tiger with the exception of the initial JVA signature payment of US$800,000, to secure the specified Thai JV interest in the Mineral Properties amounts to US$5,288,000 (or £4,008,171 at current US$ to £ currency translation rate).
• Payments are focused on the key stages of project development with most payable only on the achievement of permitting, construction/refurbishment and production milestones over an estimated two year period.
• This announcement has been prepared with summary transaction information enabling an expeditious release in line with the latest Market Abuse Regulations. Further announcements will be made in due course to detail the overall JVA operational and strategic plans in respect of the Mineral Properties.
As at 31 December 2015 being the date of the last published accounts KEMCO had net liabilities of Thai Baht 1,244,332 and made a loss for the year of Thai Baht 1,502,102.
As at 31 December 2015 being the date of the last published accounts BYMC had net liabilities of Thai Baht 1,848 and made a loss for the year of Thai Baht 131,271.
http://www.businesswire.com/news/home/20160823005722/en/Metal-Tiger-plc-UK-Regulatory-Announcement-Thailand
Metal Tiger Plc
("Metal Tiger" or the "Company")
Thailand - Commercial Mines Joint Venture Agreement Signed
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to announce that on Saturday 20 August 2016 the Company successfully concluded commercial negotiations and a Joint Venture Agreement (“JVA”) was signed in respect of the Song Toh and Boh Yai Silver-Lead-Zinc mines in Western Thailand. The JVA was subject to certain regulatory clearances which were received on 22 August 2016.
The JVA governs the process and ownership elements of a transaction where the principal objective is to permit and bring back into production the Silver-Lead-Zinc mines at Boh Yai and Song Toh (the “Mineral Properties”).
We refer readers to the market announcement by the Company dated 11 April 2016 covering the Standstill Letter Agreement (the “SLA”) relating to the Mineral Properties, as extended by the Company’s announcement dated 7 July 2016.
The parties to this JVA are the Karnchanaburi Exploration and Mining (KEMCO) Company Limited (“KEMCO”), Boh Yai Mining Company Limited (“BYMC”) and Pornnaret Klipbua (“Pornnaret”) the majority and controlling shareholder of both KEMCO and BYMC (the “Mine Vendors”). Also, Metal Group Co. Ltd (“Metal Group”) and Metal Tiger Exploration Company Limited (“MTE”) (the “Joint Venture Companies”); and finally Metal Tiger plc (as defined above).
KEMCO and BYMC hold several Historical Mining Lease Applications and the physical mining and processing plant assets at the centre of this transaction.
Paul Johnson, Chief Executive Officer of Metal Tiger commented:
“We are delighted to confirm a successful outcome to our contractual negotiations and this signed JVA. The Boh Yai and Song Toh mines represent an exceptional opportunity for all parties to this agreement and we look forward to the Joint Venture pushing proactively forward. As is Metal Tiger’s policy we will continue to regularly update the market with developments.
The Joint Venture will be proactively pursuing the various stages of the permitting process and the structure of the transaction is such that near term transactional costs are modest, with the larger payments scheduled for post permitting approvals when the inherent value of the project should have increased materially.
A transaction of this type, in effect a collaboration between Thai interests and a UK listed entity, are relatively rare at the moment. Given our knowledge of the Thailand business environment, and the opportunities available, we are very pleased to reach this pivotal stage.
The JVA represents the culmination of a significant amount of work by all parties and Metal Tiger would like to note on record its thanks for the dedication and support of all the parties engaged in this process of negotiations.
Metal Tiger is privileged to be investing in Thailand, a country that holds substantial opportunities for respectful, diligent and committed investors. We would reiterate that our objective is to invest in and help develop Thai resource opportunities, for the primary benefit of the Thai people, and to do so with an absolute focus on the protection of the environment and the communities with whom we engage.
As part of our communications and in addition to the engagement we are undertaking in Thailand we will be holding meetings in the UK with our Thai Joint Venture partners and Corporate Social Responsibility Manager present, to enable any shareholders, investors and other market participants to have their questions and queries addressed in a public forum.”
Pornnaret Klipbua, Managing Director of KEMCO and BYMC commented:
“I am delighted with the successful outcome following extensive negotiations with Metal Tiger and their Thai Joint Venture Partners. Metal Tiger with their financing capability and their Thai Joint Venture Partners with their sector and in-country knowledge have demonstrated to me that they have the requisite abilities to make this a highly viable partnership and I look forward to diligently working with them to successfully permit and bring back into production the Song Toh and Boh Yai Silver-Lead-Zinc mines.
This is an exciting project that will provide hundreds of jobs in Kanchanaburi and be of major benefit to the local Thai economy as well as the Thai people in general. It is my firm belief that this partnership will lay the foundation for further investment opportunities for Metal Tiger in the natural resources sector in Thailand.”
Highlights:
• Metal Tiger has agreed a right for its Thai Joint Venture Companies to acquire 80% of the shares of BYMC which holds several Mining Lease Applications. In addition, the transactional rights include the transfer of granted licences from KEMCO into BYMC thereby centralising the Mineral Property interests into one operating company.
• All activities in respect of operations shall be managed on behalf of the parties by various JV Management Committees. Metal Tiger will provide finance against an agreed budget. All operational matters are solely in the hands of the local Joint Venture team.
• The transaction is based on defined payments set against a defined delivery schedule and a commitment from Metal Tiger plc to fund up to US$1,500,000 in respect of permitting costs. Reflecting the acquisition of ownership rights the following payments are to be made to the Mine Vendors:
• Total of US$130,000 on signing the SLA payable as US$50,000 in cash and US$80,000 payable in Metal Tiger shares (US$130,000 already paid);
• Total of US$800,000 on signing the JVA payable as US$400,000 in cash and US$400,000 payable in Metal Tiger shares (payable no later than 2 September 2016);
• Total of US$6,000 per month which amounts to US$108,000 over an estimated 18 month permitting period for the general costs of the Mine Vendors including the costs of maintaining the current staff base keeping the mines on a care and maintenance basis whilst permitting is undertaken;
• Total of US$500,000 payable in cash on the granting of BYMC Mining Lease Applications;
• Total of US$625,000 payable as US$250,000 in cash and US$375,000 in Metal Tiger plc shares on the commencement of construction (ie plant, housing, water treatment and some mine refurbishment);
• Total of US$625,000 payable as US$250,000 in cash and US$375,000 in Metal Tiger plc shares on the commencement of commercial mineral production;
• Total of US$1,500,000 in respect of a hire purchase agreement on production to transfer the physical assets of the mine and processing plant into the BYMC;
• In addition the Joint Venture will guarantee the Mine Vendors, against their ownership interest an annual a minimum of US$200,000 profit share for the first five years of mine operations (ie US$1,000,000 in total guaranteed).
Reflecting all the above the total payments, at the volition of Metal Tiger with the exception of the initial JVA signature payment of US$800,000, to secure the specified Thai JV interest in the Mineral Properties amounts to US$5,288,000 (or £4,008,171 at current US$ to £ currency translation rate).
• Payments are focused on the key stages of project development with most payable only on the achievement of permitting, construction/refurbishment and production milestones over an estimated two year period.
• This announcement has been prepared with summary transaction information enabling an expeditious release in line with the latest Market Abuse Regulations. Further announcements will be made in due course to detail the overall JVA operational and strategic plans in respect of the Mineral Properties.
As at 31 December 2015 being the date of the last published accounts KEMCO had net liabilities of Thai Baht 1,244,332 and made a loss for the year of Thai Baht 1,502,102.
As at 31 December 2015 being the date of the last published accounts BYMC had net liabilities of Thai Baht 1,848 and made a loss for the year of Thai Baht 131,271.
http://www.businesswire.com/news/home/20160823005722/en/Metal-Tiger-plc-UK-Regulatory-Announcement-Thailand
banjomick
- 23 Aug 2016 13:30
- 146 of 474
Further reading from the MTR website regarding Thailand (nothing new but gives a good insight):
Thailand - Gold/Copper/Antimony
http://www.metaltigerplc.com/index.php/projects-2/thailand-gold-copper-antimony
Thailand - Gold/Copper/Antimony
http://www.metaltigerplc.com/index.php/projects-2/thailand-gold-copper-antimony
banjomick
- 24 Aug 2016 10:30
- 147 of 474
24 AUGUST 2016
Additional Strategic Investment in Red Rock Resources
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource projects is pleased to announce an additional strategic investment in Red Rock Resources (LON:RRR) (Red Rock).
We would refer readers to our announcement dated 29 April 2016 for details of the earlier investment in Red Rock made by Metal Tiger.
Highlights:
• Metal Tiger to subscribe for 25,000,000 new ordinary shares in Red Rock at 0.4p per new ordinary share for a total additional investment of 100,000;
• Metal Tiger to receive an additional 25,000,000 warrants exercisable at 0.8p and with a 24 month longevity from admission to trading of the Red Rock placing shares on AIM;
• Following the transaction Metal Tiger will hold 78,571,427 shares in Red Rock representing 16.81% of the post financing issued share capital;
• In addition following the transaction Metal Tiger will hold 29,761,904 warrants in Red Rock exercisable at 0.84p (see announcement dated 29 April 2016 for warrant terms) and 25,000,000 warrants exercisable at 0.8p (warrant terms as outlined above);
• MTR intends to exercise its right (granted previously in conjunction with the 29 April 2016 Red Rock financing) to nominate a non-executive director to the board of Red Rock.
Paul Johnson, the Chief Executive Officer of Metal Tiger plc commented: We are pleased to announce an increase in our shareholding in Red Rock Resources. The board of Metal Tiger is keen to continue to expand our investments in natural resource companies where we believe there is significant share price upside potential as the resource sector moves into a full recovery phase.
We recognise the importance of stability and security that Red Rock has generated through income from oil sales, sale proceeds from Colombia and also through Red Rocks investments notably in Jupiter Mines and Goldstone Resources.
That said, we also recognise that in a recovering resource market environment the best returns for shareholders can often lie in the reigniting of investment in hard rock mineral deposit opportunities, notably within precious and strategic metals. We are pleased that the Red Rock management team shares our thoughts in this regard and will seek to drive the strategic direction of the company to open up to the development of hard rock opportunities.
Red Rock has demonstrated an ability to deliver substantial returns from low sector sentiment conditions and we believe is worthy of further investment in readiness for the next recovery phase.
In the financial year ended June 2015 RRR made a loss of 8,411,541 (interims to 31 December 2015 loss of 22,025) and had net assets of 7,527,488 (interims to 31 December 2015 net assets of 7,947,994).
http://www.moneyam.com/action/news/showArticle?id=5402854
Additional Strategic Investment in Red Rock Resources
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource projects is pleased to announce an additional strategic investment in Red Rock Resources (LON:RRR) (Red Rock).
We would refer readers to our announcement dated 29 April 2016 for details of the earlier investment in Red Rock made by Metal Tiger.
Highlights:
• Metal Tiger to subscribe for 25,000,000 new ordinary shares in Red Rock at 0.4p per new ordinary share for a total additional investment of 100,000;
• Metal Tiger to receive an additional 25,000,000 warrants exercisable at 0.8p and with a 24 month longevity from admission to trading of the Red Rock placing shares on AIM;
• Following the transaction Metal Tiger will hold 78,571,427 shares in Red Rock representing 16.81% of the post financing issued share capital;
• In addition following the transaction Metal Tiger will hold 29,761,904 warrants in Red Rock exercisable at 0.84p (see announcement dated 29 April 2016 for warrant terms) and 25,000,000 warrants exercisable at 0.8p (warrant terms as outlined above);
• MTR intends to exercise its right (granted previously in conjunction with the 29 April 2016 Red Rock financing) to nominate a non-executive director to the board of Red Rock.
Paul Johnson, the Chief Executive Officer of Metal Tiger plc commented: We are pleased to announce an increase in our shareholding in Red Rock Resources. The board of Metal Tiger is keen to continue to expand our investments in natural resource companies where we believe there is significant share price upside potential as the resource sector moves into a full recovery phase.
We recognise the importance of stability and security that Red Rock has generated through income from oil sales, sale proceeds from Colombia and also through Red Rocks investments notably in Jupiter Mines and Goldstone Resources.
That said, we also recognise that in a recovering resource market environment the best returns for shareholders can often lie in the reigniting of investment in hard rock mineral deposit opportunities, notably within precious and strategic metals. We are pleased that the Red Rock management team shares our thoughts in this regard and will seek to drive the strategic direction of the company to open up to the development of hard rock opportunities.
Red Rock has demonstrated an ability to deliver substantial returns from low sector sentiment conditions and we believe is worthy of further investment in readiness for the next recovery phase.
In the financial year ended June 2015 RRR made a loss of 8,411,541 (interims to 31 December 2015 loss of 22,025) and had net assets of 7,527,488 (interims to 31 December 2015 net assets of 7,947,994).
http://www.moneyam.com/action/news/showArticle?id=5402854
banjomick
- 25 Aug 2016 09:35
- 148 of 474
Metal Tiger plc
SPANISH UPDATE: NEW LICENCE APPLICATION OVER GOLD TARGET
Metal Tiger (LON: MTR), the natural resources investing company is pleased to provide an update regarding developments at the Logrosán Gold and Tungsten Joint Venture (JV) project in Extremadura, Spain.
Highlights:
• The Logrosán Gold and Tungsten JV has lodged an application for a new exploration licence, ‘San Cristóbal Sur’, immediately to the south and adjoining the current Zorita and San Cristóbal exploration licence areas.
• The San Cristóbal Sur application, registration number 10358-00, is lodged in the name of Logrosán Minera S.L., the Spanish JV company. It covers an area of 31.7km2 and is valid for all of the Group C Minerals including Au, Ag, Pb, Zn, Sn, W, Pt and Cu. The only exclusion being coal and radioactive minerals.
• The San Cristóbal Sur licence application has been lodged to secure the southerly extension of the ‘Logrosán South’ gold in soil anomaly announced on 18th August 2016.
• The new Logrosán South gold target area, identified by soil sampling and alteration mapping, is approximately 6km long and up to 950m wide, trending NE-SW from the south of the project’s Antonio Caño licence, through the San Cristóbal licence and into the San Cristóbal Sur application area.
• The Spanish field team will be back onsite 4th September, to recommence a programme of exploration work across the licence portfolio including both the Logrosán South and El Seranillio North (announced 5th April 2016) gold anomalies. Further updates will follow in due course.
Paul Johnson CEO of Metal Tiger said: “The San Cristóbal Sur exploration licence application secures the ground to the south of our current joint venture projects, for a negligible expenditure. This is important as the recent work completed by our JV partners has shown that a major gold anomaly trends towards the south-west outside of the granted permits. The award of the exclusive San Cristóbal Sur licence will allow further surface sampling and geophysics to determine the along strike extent of the Logrosán South gold anomaly and help to delimit a target area for subsequent sub-surface investigation.”
Project Background
Location and Region
The Logrosán Gold and Tungsten Project is located in a geologically prospective, under-explored and mining friendly jurisdiction in west-central Spain within the province of Cáceres in the Extremadura autonomous region. The Project is served by a well-developed and maintained road network, with good power, water and telecommunications infrastructure and enjoys the full support of the regional and local government and administration.
Neighbouring Properties
There are three public listed exploration and pre-production development companies located within the surrounding region. The W Resources Plc La Parrilla tungsten mine is 43km south-west of the Project area; the Emerita Resources Corporation Las Morras Gold Project is 6km to the south; and the Berkeley Energia Gambuta uranium deposit is 40km north.
Background to the Logrosán Joint Venture
Metal Tiger entered into a Joint Venture with Logrosán Minerals Ltd (a Special Purpose Vehicle "SPV" company incorporated in the UK) on 13 March 2015.
Logrosán Minerals Limited is the joint venture operating company for the Logrosán Exploration Project. During the 18 months prior to the joint venture commencing, Metal Tiger's joint venture partner, Mineral Exploration Network (Finland) Ltd “MEN”, had carried out more than 40,000 soil samples, hundreds of pan-concentrate samples, covered thousands of linear kilometres with ground magnetic survey and assessed electro-magnetic tomography. The presence of Tungsten mineralisation had been confirmed by soil sampling, outcrop sampling, trenching and historical drill holes. Gold mineralisation had been indicated by pan-concentrate sampling which delineated three areas with anomalous gold.
Metal Tiger funded €500,000 in exploration work over the balance of 2015 and Q1 2016 in line with an agreed exploration programme that included up to 5,000 metres of drilling, to earn 50% of Logrosan Minerals Limited. The balancing holding in the SPV is held by MEN.
The Maria Licence was brought into the SPV on 31 May 2016. As part of this transaction Metal Tiger are to provide up to €500,000 over the balance of 2016 and first quarter of 2017 in exploration expenditure, with at least half the funds used to further explore Maria and the balance used to refine and build out the tungsten deposits and gold targets outlined during the 2015 Logrosán drilling programme.
http://www.businesswire.com/news/home/20160825005406/en/Metal-Tiger-plc-UK-Regulatory-Announcement-Spanish
SPANISH UPDATE: NEW LICENCE APPLICATION OVER GOLD TARGET
Metal Tiger (LON: MTR), the natural resources investing company is pleased to provide an update regarding developments at the Logrosán Gold and Tungsten Joint Venture (JV) project in Extremadura, Spain.
Highlights:
• The Logrosán Gold and Tungsten JV has lodged an application for a new exploration licence, ‘San Cristóbal Sur’, immediately to the south and adjoining the current Zorita and San Cristóbal exploration licence areas.
• The San Cristóbal Sur application, registration number 10358-00, is lodged in the name of Logrosán Minera S.L., the Spanish JV company. It covers an area of 31.7km2 and is valid for all of the Group C Minerals including Au, Ag, Pb, Zn, Sn, W, Pt and Cu. The only exclusion being coal and radioactive minerals.
• The San Cristóbal Sur licence application has been lodged to secure the southerly extension of the ‘Logrosán South’ gold in soil anomaly announced on 18th August 2016.
• The new Logrosán South gold target area, identified by soil sampling and alteration mapping, is approximately 6km long and up to 950m wide, trending NE-SW from the south of the project’s Antonio Caño licence, through the San Cristóbal licence and into the San Cristóbal Sur application area.
• The Spanish field team will be back onsite 4th September, to recommence a programme of exploration work across the licence portfolio including both the Logrosán South and El Seranillio North (announced 5th April 2016) gold anomalies. Further updates will follow in due course.
Paul Johnson CEO of Metal Tiger said: “The San Cristóbal Sur exploration licence application secures the ground to the south of our current joint venture projects, for a negligible expenditure. This is important as the recent work completed by our JV partners has shown that a major gold anomaly trends towards the south-west outside of the granted permits. The award of the exclusive San Cristóbal Sur licence will allow further surface sampling and geophysics to determine the along strike extent of the Logrosán South gold anomaly and help to delimit a target area for subsequent sub-surface investigation.”
Project Background
Location and Region
The Logrosán Gold and Tungsten Project is located in a geologically prospective, under-explored and mining friendly jurisdiction in west-central Spain within the province of Cáceres in the Extremadura autonomous region. The Project is served by a well-developed and maintained road network, with good power, water and telecommunications infrastructure and enjoys the full support of the regional and local government and administration.
Neighbouring Properties
There are three public listed exploration and pre-production development companies located within the surrounding region. The W Resources Plc La Parrilla tungsten mine is 43km south-west of the Project area; the Emerita Resources Corporation Las Morras Gold Project is 6km to the south; and the Berkeley Energia Gambuta uranium deposit is 40km north.
Background to the Logrosán Joint Venture
Metal Tiger entered into a Joint Venture with Logrosán Minerals Ltd (a Special Purpose Vehicle "SPV" company incorporated in the UK) on 13 March 2015.
Logrosán Minerals Limited is the joint venture operating company for the Logrosán Exploration Project. During the 18 months prior to the joint venture commencing, Metal Tiger's joint venture partner, Mineral Exploration Network (Finland) Ltd “MEN”, had carried out more than 40,000 soil samples, hundreds of pan-concentrate samples, covered thousands of linear kilometres with ground magnetic survey and assessed electro-magnetic tomography. The presence of Tungsten mineralisation had been confirmed by soil sampling, outcrop sampling, trenching and historical drill holes. Gold mineralisation had been indicated by pan-concentrate sampling which delineated three areas with anomalous gold.
Metal Tiger funded €500,000 in exploration work over the balance of 2015 and Q1 2016 in line with an agreed exploration programme that included up to 5,000 metres of drilling, to earn 50% of Logrosan Minerals Limited. The balancing holding in the SPV is held by MEN.
The Maria Licence was brought into the SPV on 31 May 2016. As part of this transaction Metal Tiger are to provide up to €500,000 over the balance of 2016 and first quarter of 2017 in exploration expenditure, with at least half the funds used to further explore Maria and the balance used to refine and build out the tungsten deposits and gold targets outlined during the 2015 Logrosán drilling programme.
http://www.businesswire.com/news/home/20160825005406/en/Metal-Tiger-plc-UK-Regulatory-Announcement-Spanish
banjomick
- 25 Aug 2016 11:43
- 149 of 474
MiningMaven Podcast No 43 with Metal Tiger (LON:MTR) CEO Paul Johnson
Paul Johnson, CEO of Metal Tiger (LON:MTR) joins us on the podcast today to discuss the latest news from the company regarding the successfully concluded commercial negotiations and the Joint Venture Agreement (“JVA”) in respect of the Song Toh and Boh Yai Silver-Lead-Zinc mines in Western Thailand.
Full details of the agreement can be seen here:
http://www.metaltigerplc.com/index.php/investors/latest-news/888-thailand-commercial-mines-joint-venture-agreement-signed-2016-08-23-122600
This agreement has been eagerly anticipated by investors and in the Podcast Paul expands on its significance and gives us a good understanding of the rationale behind the way the agreement is structured. As always, essential listing!
https://audioboom.com/boos/4972214-miningmaven-podcast-no-43-with-metal-tiger-lon-mtr-ceo-paul-johnson
Paul Johnson, CEO of Metal Tiger (LON:MTR) joins us on the podcast today to discuss the latest news from the company regarding the successfully concluded commercial negotiations and the Joint Venture Agreement (“JVA”) in respect of the Song Toh and Boh Yai Silver-Lead-Zinc mines in Western Thailand.
Full details of the agreement can be seen here:
http://www.metaltigerplc.com/index.php/investors/latest-news/888-thailand-commercial-mines-joint-venture-agreement-signed-2016-08-23-122600
This agreement has been eagerly anticipated by investors and in the Podcast Paul expands on its significance and gives us a good understanding of the rationale behind the way the agreement is structured. As always, essential listing!
https://audioboom.com/boos/4972214-miningmaven-podcast-no-43-with-metal-tiger-lon-mtr-ceo-paul-johnson
banjomick
- 25 Aug 2016 15:35
- 150 of 474
RECENT DISCOVERIES IN THE KALAHARI COPPER BELT, BOTSWANA
MOD RESOURCES LTD & METAL TIGER PLC
25 AUGUST 2016
http://media.wix.com/ugd/a5d095_19ec5c5eba1c418aba500c33f2892615.pdf
MOD RESOURCES LTD & METAL TIGER PLC
25 AUGUST 2016
http://media.wix.com/ugd/a5d095_19ec5c5eba1c418aba500c33f2892615.pdf
banjomick
- 25 Aug 2016 16:30
- 151 of 474
Metal Tiger Plc
("Metal Tiger" or the "Company")
Shares Issued in respect of Thailand Joint Venture Agreement
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to announce that further to the successfully concluded commercial negotiations and signed Joint Venture Agreement in respect of the Song Toh and Boh Yai Silver-Lead Zinc mines in Western Thailand as announced on 23 August 2016, the Company has issued US$400,000 (£303,360 as at yesterday’s exchange rate) in new ordinary shares in Metal Tiger at 4.025p the closing mid-price on the date the transaction concluded and which equates to 7,536,894 Metal Tiger shares.
Paul Johnson, Chief Executive Officer of Metal Tiger plc commented: “We are pleased to confirm the issue of shares in respect of the signed Joint Venture Agreement which marked a major positive step forward for Metal Tiger’s investing activities in Thailand.
The Joint Venture in Thailand is forging ahead and we look forward to providing further updates to the market in the near term.”
Admission Details and Total Voting Rights
The 7,536,894 new ordinary shares are expected to be admitted to trading on or around 30 August 2016. Following the issue of the new ordinary shares, the number of ordinary shares in issue in the Company will increase to 580,810,113.
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 580,810,113 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.
The Company notes that following the issue of the 28,571,428 Placing Shares as announced on Wednesday 17 August 2016 as part of the Strategic Financing Update announcement, the number of ordinary shares in issue as at 1 September 2016 will be 609,381,541.
http://www.businesswire.com/news/home/20160825005797/en/Metal-Tiger-plc-UK-Regulatory-Announcement-Shares
("Metal Tiger" or the "Company")
Shares Issued in respect of Thailand Joint Venture Agreement
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to announce that further to the successfully concluded commercial negotiations and signed Joint Venture Agreement in respect of the Song Toh and Boh Yai Silver-Lead Zinc mines in Western Thailand as announced on 23 August 2016, the Company has issued US$400,000 (£303,360 as at yesterday’s exchange rate) in new ordinary shares in Metal Tiger at 4.025p the closing mid-price on the date the transaction concluded and which equates to 7,536,894 Metal Tiger shares.
Paul Johnson, Chief Executive Officer of Metal Tiger plc commented: “We are pleased to confirm the issue of shares in respect of the signed Joint Venture Agreement which marked a major positive step forward for Metal Tiger’s investing activities in Thailand.
The Joint Venture in Thailand is forging ahead and we look forward to providing further updates to the market in the near term.”
Admission Details and Total Voting Rights
The 7,536,894 new ordinary shares are expected to be admitted to trading on or around 30 August 2016. Following the issue of the new ordinary shares, the number of ordinary shares in issue in the Company will increase to 580,810,113.
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 580,810,113 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.
The Company notes that following the issue of the 28,571,428 Placing Shares as announced on Wednesday 17 August 2016 as part of the Strategic Financing Update announcement, the number of ordinary shares in issue as at 1 September 2016 will be 609,381,541.
http://www.businesswire.com/news/home/20160825005797/en/Metal-Tiger-plc-UK-Regulatory-Announcement-Shares
banjomick
- 26 Aug 2016 08:12
- 152 of 474
26 August 2016
Metal Tiger Plc
Notice of Interim Results and Capital Reduction
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to announce that the interim results for the six months ended 30 June 2016 will be announced on Friday 30 September 2016.
In addition alongside the results the Company will post details of a General Meeting of Shareholders to be held in October 2016 to approve a Capital Reduction the purpose of which is to allow the Company to pay dividends and make other distributions to shareholders, in line with the Companys stated objective to return value to shareholders.
Paul Johnson, Chief Executive Officer of Metal Tiger commented:
A key corporate objective for Metal Tiger is to pay dividends and/or distribute portfolio interests to shareholders.
In order to allow the Company to undertake this expeditiously we intend to apply to the High Court to secure the cancellation of existing deferred shares and the share premium account.
This is a relatively straightforward process to follow and, if successful, will put the company in a position to be able to make dividend payments and distribute other interests to shareholders.
As the investments of the Company mature and increase in value and as we move into a phase where value may be crystallised within the portfolio, we are keen to be in the position to distribute should the company wish to do so.
We will provide regular updates as we move through the process.
Capital Reduction
The intention of 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 reducing or cancelling the share premium account.
Following and subject to shareholder and High Court approval, and compliance with the court order the company will be in a position to pay dividends or make distributions to shareholders.
A notice of General Meeting which is the first part of the above process will be forwarded to shareholders at the same time that the interim results are published.
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 shareholders and 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.
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=5404202
Metal Tiger Plc
Notice of Interim Results and Capital Reduction
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to announce that the interim results for the six months ended 30 June 2016 will be announced on Friday 30 September 2016.
In addition alongside the results the Company will post details of a General Meeting of Shareholders to be held in October 2016 to approve a Capital Reduction the purpose of which is to allow the Company to pay dividends and make other distributions to shareholders, in line with the Companys stated objective to return value to shareholders.
Paul Johnson, Chief Executive Officer of Metal Tiger commented:
A key corporate objective for Metal Tiger is to pay dividends and/or distribute portfolio interests to shareholders.
In order to allow the Company to undertake this expeditiously we intend to apply to the High Court to secure the cancellation of existing deferred shares and the share premium account.
This is a relatively straightforward process to follow and, if successful, will put the company in a position to be able to make dividend payments and distribute other interests to shareholders.
As the investments of the Company mature and increase in value and as we move into a phase where value may be crystallised within the portfolio, we are keen to be in the position to distribute should the company wish to do so.
We will provide regular updates as we move through the process.
Capital Reduction
The intention of 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 reducing or cancelling the share premium account.
Following and subject to shareholder and High Court approval, and compliance with the court order the company will be in a position to pay dividends or make distributions to shareholders.
A notice of General Meeting which is the first part of the above process will be forwarded to shareholders at the same time that the interim results are published.
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 shareholders and 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.
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=5404202
banjomick
- 30 Aug 2016 10:06
- 153 of 474
30 August 2016
Metal Tiger Plc
Botswana T2 West: First RC Drill Assays
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to provide an update with regard to regional exploration results at the Company’s Joint Venture (“JV”) project with partners MOD Resources (ASX:MOD) in the Kalahari Copper Belt in Botswana (70% MOD Resources / 30% Metal Tiger).
Details of Technical highlights in respect of the first batch of assay results from the reverse circulation drilling at the regional target T2 West are provided below. In addition, we would refer to the announcement released today by MOD Resources which contains images and diagrams that may assist readers in an understanding of the project and the exploration work being undertaken. This announcement can be viewed through the following link.
http://search.asx.com.au/s/search.html?query=mod&collection=asx-meta&profile=web
Paul Johnson Chief Executive Officer of Metal Tiger commented “
“We are pleased to announce the first batch of laboratory assay results for reverse circulation drilling at T2 West, the first new drill target since we discovered the T3 deposit. Initial findings look promising with up to 5m @ 2.3% Cu and with intersections bearing a strong similarity to the widths and grades at MOD’s 100 % owned high-grade Mahumo (T1) copper/silver deposit, which lies only 3.5km to the east. Ongoing soil sampling between T2 West and Mahumo has also outlined a new anomaly, and drilling target, midway between T2 West and Mahumo.
At T3 the Resource drilling has now been completed with a total of 51 holes drilled ahead of the planned schedule. We commend MOD’s exploration manager, Jacques Janse van Rensburg, and his 80 strong Project team as well drill contractor Discovery Drilling for completing this phase of work in such a timely manner. We will report the remaining assay results and provide further updates on progress as the project moves towards the scheduled end of September completion date for the T3 maiden Resource Estimate.”
Highlights:
Reverse Circulation Drilling at T2 West
• Assay results received for the first three reverse circulation (RC) drill holes, on the first drill section, at T2 West. This first drill section crosses the southern part of the T2 West soil anomaly, and consists of five RC holes all of which have intersected zones of visible vein and disseminated copper mineralisation.
• Drill holes MO-G-52R and MO-G-54R intersected a higher grade zone of copper/silver mineralisation associated with veining within a wider, lower grade, zone associated with disseminated copper mineralisation. MO-G-53R, the shallowest and most northerly drill hole on the first drill section, intersected highly weathered sediments hosting oxidised and copper leached mineralisation from a depth of 4m, resulting in a lower grade of 8m @ 0.3% Cu.
• Key downhole intersections include:
• MO-G-52R intersected 7m @ 1.7% Cu & 35g/t Ag from 61m, including ◦ 5m @ 2.3% Cu & 42g/t Ag from 61m
• MO-G-54R intersected 6m @ 1.7% Cu & 24g/t Ag from 61m
• MO-G-52R intersected a 24m wide zone of disseminated and vein hosted mineralisation from a downhole depth of 51m. With lower grade disseminated mineralisation (ranging from 0.1% to 0.5% Cu) surounding higher grade vein hosted copper (7m @ 1.7% Cu & 35g/t Ag) from 61m depth.
• MO-G-54R intersected a 28m wide zone of disseminated and vein hosted mineralisation from a downhole depth of 49m. With lower grade disseminated mineralisation (ranging from 0.1% to 0.7% Cu) surounding higher grade vein hosted copper (6m @ 1.7% Cu & 24g/t Ag) from 61m depth.
• The MO-G-52R and MO-G-54R drill hole mineralisation intersections compare well with the copper and silver grades and widths that MOD outlined during their Mahumo Stage One Resource drilling, 3.5km to the east. Here resource widths range 2-4m at an average 2.0% Cu and 50g/t Ag. Mahumo remains open below the current limit of drilling along a 2.4km strike length.
• Drilling is currently testing for continuity of mineralisation along strike from the first drill section and will then seek to target the mineralisation at depth in this complexly folded area.
• Assay results from the two remaining holes (MO-G-57 and MO-G-58R) on the first drill section at T2 West are currently awaited.
Geological Setting
• T2 West is a soil anomaly (up to 87ppm Cu over a circa 1.5km wide zone) located 20km north of the T3 Resource Drilling area and 3.5km west of MOD’s 100% owned high-grade Mahumo (T1) copper/silver deposit (Resource: 2.68Mt @ 2.0% Cu & 50g/t Ag). It forms part of the T2 Prospect together with the T2 East soil anomaly (up to 83ppm Cu over a circa 1.5km wide zone) located approximately 12km to the east. There is no outcrop at T2 and the area is covered by surficial calcrete.
• T2 West, T2 East and Mahumo sit on the same regional structure and interpreted zone of Kalahari ‘prospective contact’ folding, that is thought to host Cupric Canyon Capital’s Zone 5 resource (Resource: 100Mt @ 1.95% Cu & 20g/t Ag).
Soil Sampling Results
• Soil sampling results have been received from further geochemical survey on 500m spaced traverses extending eastwards from the T2 East anomaly, and from the T2 West anomaly, eastwards, towards MOD’S 100% owned Mahumo (T1) deposit.
• These latest soil results have yielded a new drill target, with a standout value of 99ppm Cu midway between T2 West and Mahumo.
T2 West Drilling Details
The T2 West RC holes, on the first drill section, are inclined 320° azimuth/-60° dip. MO-G-53R reached 55m, MO-G-52R reached 135m and MO-G-54R reached 103m. Hole collars are drilled at 50m spacing. MOD provide a full table of drill coordinates and key parameters in their release of today (see above link).
The first drill section, commenced on 10th August, crosses the southern part of the T2 West soil anomaly and consists a total of five RC holes all of which have intersected zones of vein and disseminated copper mineralisation, including the copper minerals chysocolla, malachite, chalcocite and bornite. Drilling is currently testing potential for mineralisation along strike to the east and west of the first section.
T3 Phase One Resource Programme Update
The Resource drilling at T3 has completed ahead of schedule, with a total of 51 diamond drill holes completed on a 100m by 100m grid within a 4-month period. All outstanding mineralised intersections are either in the laboratory or samples are being prepared for transport to the laboratory with the objective to get all assay results finalised for the resource estimate scheduled to be completed by end September. All 80 Project personnel will now take a well-earned break for 1 week.
The T3 scoping study is progressing to plan with preliminary results from metallurgical test work of different sulphide ores starting to be received. Results will be announced when results are finalised.
Project Location
The MOD/MTR joint venture Botswana Copper/Silver Project is located on the Kalahari Copper Belt in northern Botswana. The T3 Phase 1 Resource Drilling area is located approximately 70km NE of the project’s Tshimologo (T4) Prospect and is located parallel to the same structural trend known as the Mahumo Structural Corridor, that hosts MOD’s Mahumo Project (circa 20km NE of T3) and Cupric Capitals’ Banana Zone Deposit (60km NE) and Zone 5 Project (120km NE). The T2 Prospect is located directly along strike from the Mahumo Project and approximately 20km north of T3.
The exploration work is being managed on the ground, in accordance with JORC 2012 best practice, by MOD’s Competent Person, Mr Jacques Janse van Rensburg, BSc (Hons), General Manager Exploration (Africa).
http://www.businesswire.com/news/home/20160830005479/en/Metal-Tiger-plc-UK-Regulatory-Announcement-Botswana
Metal Tiger Plc
Botswana T2 West: First RC Drill Assays
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to provide an update with regard to regional exploration results at the Company’s Joint Venture (“JV”) project with partners MOD Resources (ASX:MOD) in the Kalahari Copper Belt in Botswana (70% MOD Resources / 30% Metal Tiger).
Details of Technical highlights in respect of the first batch of assay results from the reverse circulation drilling at the regional target T2 West are provided below. In addition, we would refer to the announcement released today by MOD Resources which contains images and diagrams that may assist readers in an understanding of the project and the exploration work being undertaken. This announcement can be viewed through the following link.
http://search.asx.com.au/s/search.html?query=mod&collection=asx-meta&profile=web
Paul Johnson Chief Executive Officer of Metal Tiger commented “
“We are pleased to announce the first batch of laboratory assay results for reverse circulation drilling at T2 West, the first new drill target since we discovered the T3 deposit. Initial findings look promising with up to 5m @ 2.3% Cu and with intersections bearing a strong similarity to the widths and grades at MOD’s 100 % owned high-grade Mahumo (T1) copper/silver deposit, which lies only 3.5km to the east. Ongoing soil sampling between T2 West and Mahumo has also outlined a new anomaly, and drilling target, midway between T2 West and Mahumo.
At T3 the Resource drilling has now been completed with a total of 51 holes drilled ahead of the planned schedule. We commend MOD’s exploration manager, Jacques Janse van Rensburg, and his 80 strong Project team as well drill contractor Discovery Drilling for completing this phase of work in such a timely manner. We will report the remaining assay results and provide further updates on progress as the project moves towards the scheduled end of September completion date for the T3 maiden Resource Estimate.”
Highlights:
Reverse Circulation Drilling at T2 West
• Assay results received for the first three reverse circulation (RC) drill holes, on the first drill section, at T2 West. This first drill section crosses the southern part of the T2 West soil anomaly, and consists of five RC holes all of which have intersected zones of visible vein and disseminated copper mineralisation.
• Drill holes MO-G-52R and MO-G-54R intersected a higher grade zone of copper/silver mineralisation associated with veining within a wider, lower grade, zone associated with disseminated copper mineralisation. MO-G-53R, the shallowest and most northerly drill hole on the first drill section, intersected highly weathered sediments hosting oxidised and copper leached mineralisation from a depth of 4m, resulting in a lower grade of 8m @ 0.3% Cu.
• Key downhole intersections include:
• MO-G-52R intersected 7m @ 1.7% Cu & 35g/t Ag from 61m, including ◦ 5m @ 2.3% Cu & 42g/t Ag from 61m
• MO-G-54R intersected 6m @ 1.7% Cu & 24g/t Ag from 61m
• MO-G-52R intersected a 24m wide zone of disseminated and vein hosted mineralisation from a downhole depth of 51m. With lower grade disseminated mineralisation (ranging from 0.1% to 0.5% Cu) surounding higher grade vein hosted copper (7m @ 1.7% Cu & 35g/t Ag) from 61m depth.
• MO-G-54R intersected a 28m wide zone of disseminated and vein hosted mineralisation from a downhole depth of 49m. With lower grade disseminated mineralisation (ranging from 0.1% to 0.7% Cu) surounding higher grade vein hosted copper (6m @ 1.7% Cu & 24g/t Ag) from 61m depth.
• The MO-G-52R and MO-G-54R drill hole mineralisation intersections compare well with the copper and silver grades and widths that MOD outlined during their Mahumo Stage One Resource drilling, 3.5km to the east. Here resource widths range 2-4m at an average 2.0% Cu and 50g/t Ag. Mahumo remains open below the current limit of drilling along a 2.4km strike length.
• Drilling is currently testing for continuity of mineralisation along strike from the first drill section and will then seek to target the mineralisation at depth in this complexly folded area.
• Assay results from the two remaining holes (MO-G-57 and MO-G-58R) on the first drill section at T2 West are currently awaited.
Geological Setting
• T2 West is a soil anomaly (up to 87ppm Cu over a circa 1.5km wide zone) located 20km north of the T3 Resource Drilling area and 3.5km west of MOD’s 100% owned high-grade Mahumo (T1) copper/silver deposit (Resource: 2.68Mt @ 2.0% Cu & 50g/t Ag). It forms part of the T2 Prospect together with the T2 East soil anomaly (up to 83ppm Cu over a circa 1.5km wide zone) located approximately 12km to the east. There is no outcrop at T2 and the area is covered by surficial calcrete.
• T2 West, T2 East and Mahumo sit on the same regional structure and interpreted zone of Kalahari ‘prospective contact’ folding, that is thought to host Cupric Canyon Capital’s Zone 5 resource (Resource: 100Mt @ 1.95% Cu & 20g/t Ag).
Soil Sampling Results
• Soil sampling results have been received from further geochemical survey on 500m spaced traverses extending eastwards from the T2 East anomaly, and from the T2 West anomaly, eastwards, towards MOD’S 100% owned Mahumo (T1) deposit.
• These latest soil results have yielded a new drill target, with a standout value of 99ppm Cu midway between T2 West and Mahumo.
T2 West Drilling Details
The T2 West RC holes, on the first drill section, are inclined 320° azimuth/-60° dip. MO-G-53R reached 55m, MO-G-52R reached 135m and MO-G-54R reached 103m. Hole collars are drilled at 50m spacing. MOD provide a full table of drill coordinates and key parameters in their release of today (see above link).
The first drill section, commenced on 10th August, crosses the southern part of the T2 West soil anomaly and consists a total of five RC holes all of which have intersected zones of vein and disseminated copper mineralisation, including the copper minerals chysocolla, malachite, chalcocite and bornite. Drilling is currently testing potential for mineralisation along strike to the east and west of the first section.
T3 Phase One Resource Programme Update
The Resource drilling at T3 has completed ahead of schedule, with a total of 51 diamond drill holes completed on a 100m by 100m grid within a 4-month period. All outstanding mineralised intersections are either in the laboratory or samples are being prepared for transport to the laboratory with the objective to get all assay results finalised for the resource estimate scheduled to be completed by end September. All 80 Project personnel will now take a well-earned break for 1 week.
The T3 scoping study is progressing to plan with preliminary results from metallurgical test work of different sulphide ores starting to be received. Results will be announced when results are finalised.
Project Location
The MOD/MTR joint venture Botswana Copper/Silver Project is located on the Kalahari Copper Belt in northern Botswana. The T3 Phase 1 Resource Drilling area is located approximately 70km NE of the project’s Tshimologo (T4) Prospect and is located parallel to the same structural trend known as the Mahumo Structural Corridor, that hosts MOD’s Mahumo Project (circa 20km NE of T3) and Cupric Capitals’ Banana Zone Deposit (60km NE) and Zone 5 Project (120km NE). The T2 Prospect is located directly along strike from the Mahumo Project and approximately 20km north of T3.
The exploration work is being managed on the ground, in accordance with JORC 2012 best practice, by MOD’s Competent Person, Mr Jacques Janse van Rensburg, BSc (Hons), General Manager Exploration (Africa).
http://www.businesswire.com/news/home/20160830005479/en/Metal-Tiger-plc-UK-Regulatory-Announcement-Botswana
banjomick
- 31 Aug 2016 09:37
- 154 of 474
31 August 2016
Metal Tiger Plc
GOLD PRODUCTION OPPORTUNITY - UPDATE
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource projects is pleased to highlight the announcement released today by our joint venture partners Eurasia Mining (LON:EUA) in respect of the Semenovsky Tailings gold production opportunity.
The announcement confirms an extension to the exclusivity period in respect of this project until 15 November 2016 and confirmation of approved reserves totalling 2.99 million tonnes of ore grading 1.18 grams/tonne ("g/t") of gold and 16.44 g/t of silver, which contained metal calculated as 3.5 tonnes of gold and 49.3 tonnes of silver.
The announcement can be viewed through the following link:
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/EUA/12948304.html
http://www.moneyam.com/action/news/showArticle?id=5406200
Metal Tiger Plc
GOLD PRODUCTION OPPORTUNITY - UPDATE
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource projects is pleased to highlight the announcement released today by our joint venture partners Eurasia Mining (LON:EUA) in respect of the Semenovsky Tailings gold production opportunity.
The announcement confirms an extension to the exclusivity period in respect of this project until 15 November 2016 and confirmation of approved reserves totalling 2.99 million tonnes of ore grading 1.18 grams/tonne ("g/t") of gold and 16.44 g/t of silver, which contained metal calculated as 3.5 tonnes of gold and 49.3 tonnes of silver.
The announcement can be viewed through the following link:
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/EUA/12948304.html
http://www.moneyam.com/action/news/showArticle?id=5406200
mentor - 31 Aug 2016 16:33 - 155 of 474
edited
wrong thread
wrong thread
banjomick
- 31 Aug 2016 17:22
- 156 of 474
mentor, what are you waffling on about now?
banjomick
- 01 Sep 2016 08:19
- 157 of 474
1 September 2016
Metal Tiger Plc
ADDITIONAL STRATEGIC INVESTMENT THOR MINING
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource projects is pleased to announce a strategic investment totaling 100,000 in Thor Mining plc (Thor Mining)(AIM:THR).
Highlights:
• Investment of 100,000 to acquire 400,000,000 Thor Mining shares at 0.025p;
• Metal Tiger to receive one warrant at 0.05p for each Thor Mining share purchased at 0.025p in the placing (being 400,000,000 warrants in total), with a warrant life of 30 months;
• Following completion of the above Metal Tiger will own 860,000,000 shares representing 14.01% of Thor Minings issued share capital;
• Board reorganisation to be implemented at Thor Mining;
• Paul Johnson, Chief Executive Officer of Metal Tiger to join the board of Thor Mining as a non-executive director.
Paul Johnson, Chief Executive Officer of Metal Tiger commented I am pleased to announce this additional strategic investment in Thor Mining which is made to support the Company as it accelerates its activities at the Molyhil project and seeks to build on its existing business interests at this early stage in the recovery of the natural resource sector.
By joining the board I also have the opportunity to contribute to board decision making and to assist the company as it seeks to broaden market awareness of its activities and build on its existing business model.
Thor Mining reported an audited loss of 915,000 for the year ended 30.06.15 and unaudited net assets of 8,992,000 as at 31.12.15.
http://www.moneyam.com/action/news/showArticle?id=5407092
Metal Tiger Plc
ADDITIONAL STRATEGIC INVESTMENT THOR MINING
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource projects is pleased to announce a strategic investment totaling 100,000 in Thor Mining plc (Thor Mining)(AIM:THR).
Highlights:
• Investment of 100,000 to acquire 400,000,000 Thor Mining shares at 0.025p;
• Metal Tiger to receive one warrant at 0.05p for each Thor Mining share purchased at 0.025p in the placing (being 400,000,000 warrants in total), with a warrant life of 30 months;
• Following completion of the above Metal Tiger will own 860,000,000 shares representing 14.01% of Thor Minings issued share capital;
• Board reorganisation to be implemented at Thor Mining;
• Paul Johnson, Chief Executive Officer of Metal Tiger to join the board of Thor Mining as a non-executive director.
Paul Johnson, Chief Executive Officer of Metal Tiger commented I am pleased to announce this additional strategic investment in Thor Mining which is made to support the Company as it accelerates its activities at the Molyhil project and seeks to build on its existing business interests at this early stage in the recovery of the natural resource sector.
By joining the board I also have the opportunity to contribute to board decision making and to assist the company as it seeks to broaden market awareness of its activities and build on its existing business model.
Thor Mining reported an audited loss of 915,000 for the year ended 30.06.15 and unaudited net assets of 8,992,000 as at 31.12.15.
http://www.moneyam.com/action/news/showArticle?id=5407092
mentor - 01 Sep 2016 08:39 - 158 of 474
re - mentor, what are you waffling on about now?
I like to play the banjo on the wrong way mick and normally I win the battles.
Check the share price since last Friday before the news
Someone on the know about the resignation.
I like to play the banjo on the wrong way mick and normally I win the battles.
Check the share price since last Friday before the news
Someone on the know about the resignation.
banjomick
- 01 Sep 2016 08:51
- 159 of 474
mentor, Tiger Resource Finance (TIR) has nothing to do with Metal Tiger (MTR)
banjomick
- 01 Sep 2016 09:53
- 160 of 474
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