Metal Tiger Live Discussion

Totally_Wired 14 Feb 2020

RNS 14 February 2020 Metal Tiger plc Further Investment of US$1.5m in Kalahari Metals Limited and grant of 2% NSR Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to announce a further US$1.5m equity investment into Botswana focused explorer, Kalahari Metals Limited (“KML”) (the “Investment”). Following the Investment, Metal Tiger will be interested in approximately 62.2% of KML. As part of the Investment, Metal Tiger has been conditionally granted a 2% net smelter royalty over all of KML’s wholly owned licences, being seven licences covering, in aggregate, 6,650km2 (together, the “Royalties”). The five exploration licences owned by Triprop Holdings (Pty) Limited (in which KML has a 51% interest) do not form part of the Royalties. The Royalties will fall away should Metal Tiger invest a further amount at a lower valuation than the Investment, subject to a cap of US$500k. In other words, any further investment by Metal Tiger up to US$500k must be at the same valuation as the Investment if the Royalties are to be maintained. KML will utilise the proceeds of the Investment to fund exploration drilling programmes at the Kitlanya East (‘KIT-E’), Okavango Copper Project (‘OCP’) and Kitlanya West (‘KIT-W’) projects, located in the Botswana portion of the Kalahari Copper Belt. Environmental approvals are now in place for drilling on all of KML’s projects. Drilling and soil sampling programmes are planned to start at KIT-E in March 2020, followed by further target drilling at the OCP and KIT-W project. Michael McNeilly, Chief Executive Officer of Metal Tiger, commented: “This investment will allow the KML team to progress exploration and prove up other targets at KIT-E, Kit-W and OCP, and also increases Metal Tiger’s exposure to the highly prospective Kalahari Copper Belt, which currently includes our interest in KML, as well as in Sandfire’s T3 Project and A4 Project, where MTR has a capped US$2m NSR and a 2% uncapped NSR respectively. “In the context of our expectation of an increasing global requirement for copper production, and therefore exploration, we expect the Kalahari Copper Belt to become an increasingly more valuable area to be situated and are delighted to increase our interest in the area.” More via link below: [link]

Totally_Wired 12 Feb 2020

RNS 12 February 2020 Metal Tiger plc Announcement of Visual Drill Results by Cobre Limited Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to announce that Cobre Limited (“Cobre”) (ASX:CBE), the copper exploration company focussed on exploring the Perrinvale Copper Project, in which Metal Tiger has an 19.99% interest, has announced that the first diamond core drill hole at the Schwabe Prospect has been completed. The drill hole confirmed the presence of Volcanogenic Massive Sulphide (“VMS”) mineralisation that was encountered during Cobre’s initial exploration programme in June 2019. The initial reverse circulation hole, completed in 2019, at the Schwabe Prospect previously intersected 5m of very-high grade VMS mineralisation, including 9.75% copper, 3.2 g/t gold, 34g/t silver and 3.1% zinc from 50m depth. In addition, two diamond drill holes at the Zinco Lago Prospect have been completed by Cobre with disseminated and stockwork base metal mineralisation observed in both core samples, which will now be sent for assaying. Cobre’s full press release (including visuals) can be viewed using the following link: [link] Michael McNeilly, Chief Executive Officer of Metal Tiger, commented: “This is an encouraging result for Cobre, confirming the presence of the VMS mineralisation at the Schwabe Prospect. Three more holes are planned to be drilled at Schwabe, with the next targeting the centre of the prospect and the final two holes targeting its margins to confirm the extent of mineralisation. In addition, we are pleased to note that drilling activities have progressed at Zinco Lago and look forward to Cobre announcing the assay results from the two diamond drill holes.” Cobre Background Cobre is an Australian based and focused exploration company seeking to create shareholder value through the successful exploration of base metal projects. It is the 80% owner of Toucan Gold Pty Ltd, which holds a group of tenements collectively referred to as the Perrinvale Project in central Western Australia. Michael McNeilly, Chief Executive Officer of Metal Tiger, is a Non-Executive Director on the Board of Cobre. Further details on Cobre is available on their website: [link]

Totally_Wired 11 Feb 2020

RNS 11 February 2020 Metal Tiger plc Announcement of Placement by Southern Gold Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to announce that, further to its announcement on 10 February 2020, Southern Gold Limited (“Southern Gold”) has announced that it has received binding commitments from investors in respect of a A$10 million placement (the “Placement”). The Placement is conditional on the approval of Southern Gold shareholders at a duly convened general meeting, expected to be held in early to mid-March. Assuming Southern Gold shareholders approve the Placement, Metal Tiger will be interested in approximately 14.90% of the company. As part of the terms of Metal Tiger’s investment, Terry Grammer, Non-Executive Director of Metal Tiger, will join the Board of Southern Gold subject to the approval of the Placement by Southern Gold shareholders. Southern Gold’s full press release can be viewed using the following link: [link] [link]

Totally_Wired 10 Feb 2020

RNS 10 February 2020 Metal Tiger plc Investment in ASX listed South Korean Gold Explorer and Spain Write Off Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to announce that, following several months of due diligence and negotiations, it has signed a binding subscription agreement to invest A$3.33 million (c.£.1.7 million) into Australian-based and South Korean-focused gold explorer, Southern Gold Limited (“Southern Gold” or “SAU”) at A$0.14 per share as part of SAU’s A$10 million (c.£.5.2 million) fundraise, which is subject to SAU shareholder approval (the “Placement”). Assuming Southern Gold shareholders approve the Placement, Metal Tiger will be interested in circa 14.90% of the company. Highlights of Southern Gold investment: Cornerstone investment by Metal Tiger for approximately 33% of the institutional fundraise to support a lift in Southern Gold’s gold exploration efforts in South Korea to a more significant level, including a doubling of field teams and diamond drilling rate. Metal Tiger has obtained the right to nominate one director to the Board of Southern Gold for so long as it holds an interest in the SAU of at least 10%. Terry Grammer is expected to join as Metal Tiger’s nominee following SAU shareholder approval of the Placement. Metal Tiger has negotiated as a condition precedent of its investment the appointment of prominent geologist Douglas Kirwin to the Board. Doug is expected to join upon announcement of the Placement by Southern Gold. The Board of SAU has committed to hold within 3 months of completion of the Placement a strategic review session (the “SAU Review”) which will be attended by members of the Board (including Terry Grammer and Douglas Kirwin) as well as senior management. SAU Review: The key goals of the SAU Review include, but are not limited to, SAU using reasonable endeavours to: a) establish a detailed and optimised strategy to ensure the Company has 70% of its annual expenditure on exploration in the 2020/2021 financial year, of which 40% of total annual expenditure is to be expended on drilling; b) establish 3-4 project generation teams, of which a minimum of 2 project generation teams will undertake the task of generating targets for licence applications for a minimum of six months; c) outline and prepare a revised marketing strategy, which shall include an in-depth analysis of epithermal deposits with the purpose of providing education to the market of the potential value of epithermal deposits; and d) establish three site visits per year with key specific targeted individuals (for example, analysts, news writers, corporate/strategic advisers etc.) invited to attend each of the site visits. Placement: In addition to Metal Tiger, the Placement has been supported by SAU’s four largest shareholder, and several of its directors as well as attracting institutional support in Australia. The new share issuance will be subject to shareholder approval at a general meeting of SAU shareholders, expected to be held in early to mid-March, with a Notice of Meeting expected to be sent to SAU shareholders imminently. The Company will provide a link to Southern Gold’s announcement relating to the Placement in a separate RNS, which is expected to be tomorrow. Further information on Southern Gold Southern Gold is listed on the ASX under symbol SAU. Southern Gold owns 100% of a portfolio of high-grade gold projects in South Korea that are largely greenfield epithermal gold-silver targets in the south-west of the country. For the year ended 30 June 2019, SAU reported a loss before tax of A$10.1 million. As at 30 June 2019, SAU reported net assets of A$7.6 million. Spain Write Off The Board reviews its existing investment on an ongoing basis and, following its latest review, has decided to write off its Spanish assets, being its Logrosan joint venture. Michael McNeilly, Chief Executive Officer of Metal Tiger plc, commented: “Southern Gold was first identified as a possible investment opportunity for Metal Tiger in July 2019 through an encounter with Douglas Kirwin. Recognising Doug’s technical talent, experience and success, we immediately started to undertake a significant amount of corporate and technical due diligence on SAU. Following a site visit by Terry Grammer and I in November 2019, the true scale of the exploration opportunity presented itself. The realisation that the company had successfully built a team that could operate in-country gave us the comfort to put a deal to the Board of SAU. In this deal we have obtained commitments that SAU would run a strategic review process to focus on areas where we believed there could be room for improvement. The existing investor support in the Placement gives us added comfort. We believe Southern Gold represents a unique area / country exploration play with significant exploration upside potential.”

Totally_Wired 05 Feb 2020

RNS 5 February 2020 Metal Tiger plc Cobre Limited – Commencement of Drilling at Perrinvale Project Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to provide an update on Cobre Limited (“Cobre”), in which the Company has a 19.99% interest. Drilling is now underway at the Perrinvale Project, Western Australia, in which Cobre hold an 80% interest. It is proposed that the initial programme will include approximately 1,000m of diamond core drilling at three prospects: Zinco Lago; Schwabe; and Monti. Work is targeting an extension of the high-grade volcanogenic massive sulphide (“VMS”) mineralisation identified at the Schwabe Prospect in June 2019 (5m @ 9.75% Cu, 3.2g/t Au, 34g/t Ag & 3.1% Zn from 50m) as outlined in the Cobre’s listing prospectus. The Zinco Lago Prospect is being drilled first, with the objective of investigating the historically reported near-surface copper and zinc drilling results from the 1970s. The drill rig will then move over to the Schwabe Prospect, with the objective of extending out the June 2019 high-grade drill intercepts, before finally moving to the Monti Prospect which has similar geology to the Schwabe Prospect, and which has surface gossans extending over a 700m strike. Further details on the drilling programme is set out in the Cobre announcement of today, which can be accessed via the following hyperlink: [link] Michael McNeilly, Chief Executive Officer of Metal Tiger plc, commented: “We are delighted to report the commencement of the Perrinvale Project diamond drilling programme, in Western Australia, where Cobre is targeting volcanogenic massive sulphide prospects and extensions to the high-grade base metal and gold drilling intercepts they made during June 2019. We look forward to further updates from Cobre as the work proceeds and when assay results become available.” Perrinvale Project Background In June 2019, Cobre undertook an initial reverse circulation drilling programme within the Perrinvale tenements, in order to investigate targets identified by an earlier electromagnetic survey. At that time, the drilling programme intersected high-grade VMS style base metal and gold mineralisation at shallow depth. The best assayed intercept was at the Schwabe Prospect with 5m at 9.8% copper, 3.2g/t gold, 34g/t silver and 3.1% zinc at 50m depth. Subsequently, Cobre completed an airborne electromagnetic survey within the Perrinvale Project area and identified ten potential VMS prospects. Cobre Background Cobre is an Australian based and focused exploration company seeking to create shareholder value through the successful exploration of base metal projects. It listed on the ASX in January 2020, under the ticker CBE, in conjunction with an oversubscribed IPO raising A$10 million. Cobre is the 80% owner of Toucan Gold Pty Ltd, which holds a group of tenements collectively referred to as the Perrinvale Project in central Western Australia. Michael McNeilly, Chief Executive Officer of Metal Tiger, is a Non-Executive Director on the Board of Cobre. Further details on Cobre is available on their website: [link] [link]

Totally_Wired 04 Feb 2020

RNS 3 February 2020 Metal Tiger Plc Director’s Dealing Metal Tiger plc (LON:MTR) announces that it has been notified that, on 28 January 2020, Black Star Gold Pty Ltd (“Black Star”) distributed 19,880,000 ordinary shares of 0.01p each in Metal Tiger (“Ordinary Shares”), being its entire holding in Metal Tiger, to its shareholders (the “Distribution”). Black Star is a dormant, private Australian company, of which Terry Grammer, a Non-Executive Director of Metal Tiger, is a shareholder and director. Accordingly, Mr Grammer was transferred 3,000,000 Ordinary Shares pursuant to the Distribution for no consideration. Following this share transfer, Mr Grammer is beneficially interested in 83,963,426 Ordinary Shares, representing approximately 5.52% of the Company’s issued share capital. In addition, Mr Grammer is interested in the following options to subscribe for new Ordinary Shares: Via link below [link]

Totally_Wired 31 Jan 2020

RNS 31 January 2020 Metal Tiger plc Cobre Limited – Commencement of Trading and Perrinvale Drill Programme Approvals Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to provide an update for Cobre Limited (“Cobre”) (ASX:CBE), the Australian Securities Exchange (“ASX”) listed copper exploration company focussed on exploring the Perrinvale Copper Project (“Perrinvale” or the “Project”), which consists of prospective high-grade volcanogenic massive sulphide (“VMS”) targets, in central Western Australia. Cobre holds an 80% interest in Perrinvale. Shares in Cobre commenced trading on the ASX at 110am Australian Eastern Daylight Time, on 31 January 2020, following the completion of its oversubscribed A$10m initial public offering (“IPO”). Metal Tiger subscribed for a total of A$2.4m as part of the IPO fundraise and, accordingly, is interested in 19.99% of Cobre. Cobre has reported it has received the necessary drilling programme approvals from the Western Australian Department of Mines Industry Resources and Safety for diamond core, reverse circulation and aircore drilling within the Project. The new exploration approvals allow for 162 diamond core, 187 reverse circulation, and 40 aircore holes to be drilled across the 10 targets identified to date. Drilling is expected to commence during February. Further details on the drilling programme including a plan showing the location of the drilling targets are set out in the Cobre announcement of today, which can be accessed via the following hyperlink: [link] Michael McNeilly, Chief Executive Officer of Metal Tiger plc, commented: “We are delighted to report this important milestone for our investment in Cobre and the initiation of the Perrinvale drilling programme which holds the potential for further exciting high-grade base metal and gold intercepts. We look forward to updating the market once initial results from the drill programme are published.” Perrinvale Project Background In June 2019, Cobre undertook an initial reverse circulation drilling programme within the Perrinvale tenements, in order to investigate targets identified by an earlier electromagnetic survey. At that time, the drilling programme intersected high-grade VMS style base metal and gold mineralisation at shallow depth. The best assayed intercept was at the Schwabe Prospect with 5m at 9.8% copper, 3.2g/t gold, 34g/t silver and 3.1% zinc at 50m depth. Subsequently, Cobre completed an airborne electromagnetic survey within the Perrinvale project area and identified ten potential VMS prospects. Cobre Background Cobre is an Australian based and focused exploration company seeking to create shareholder value through the successful exploration of base metal projects. It is the 80% owner of Toucan Gold Pty Ltd, which holds a group of tenements collectively referred to as the Perrinvale Project in central Western Australia. Michael McNeilly, Chief Executive Officer of Metal Tiger, is a Non-Executive Director on the Board of Cobre. Further details on Cobre is available on their website: [link]

Totally_Wired 24 Jan 2020

RNS 24 January 2020, 105 Metal Tiger plc Update on Cobre Investment Metal Tiger plc (LON:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to announce that Cobre Ltd. (“Cobre”) will list on the Australian Stock Exchange (“ASX”), in conjunction with an initial public offering (“IPO”), raising, in aggregate, A$10.0m, on or around 31 January 2020. As per the Company’s announcement on 20 November 2019, Metal Tiger has subscribed for a total of A$2.4m as part of the IPO fundraise and, accordingly, will be interested in 19.99% of Cobre upon listing. Metal Tiger is pleased to note that the Cobre IPO was heavily oversubscribed. The total value of Metal Tiger’s 19,350,000 shares in Cobre at the IPO price of A$0.20 is equal to A$3.9m (circa £2.0m). Metal Tiger has invested a total cash amount of A$2.9m into Cobre meaning that on IPO, Metal Tiger will have an unrealised paper profit of A$1.0m (circa £0.5m). Cobre is an Australian based and focused exploration company seeking to create shareholder value through the successful exploration of base metal projects. It is the 80% owner of Toucan Gold Pty Ltd, which holds a group of tenements collectively referred to as the Perrinvale Project in central Western Australia. As announced on 20 November 2019, Michael McNeilly, Chief Executive Officer of Metal Tiger, is a Non-Executive Director on the Board of Cobre. Cobre is an Australian public company that was incorporated on 18 May 2018. As at 30 June 2019, Cobre reported net assets of A$0.75m. For the period ended 30 June 2019, Cobre reported a loss after tax of A$0.15m. Further information on Cobre, including its IPO prospectus, can be found at: [ www.cobre.com.au](http:// www.cobre.com.au) Michael McNeilly, Chief Executive Officer of Metal Tiger, commented: “We are delighted that Cobre will be listed on the ASX at the end of next week. Metal Tiger has been a key part of this heavily oversubscribed IPO. We made our initial investment in September 2019 and consider it a testament to the team at Cobre and their assets that they will have achieved a listing on the ASX only five months after Metal Tiger’s initial investment. I anticipate that Cobre will commence its drilling and exploration programme at the Perrinvale project on or around the listing date and look forward to seeing the continued progress.”

Totally_Wired 31 Dec 2019

RNS 31 December 2019 Metal Tiger plc Transaction in own shares Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, announces that it has made (through Arden Partners plc (“Arden”) acting as the Company’s broker) the following redemptions pursuant to the share buyback programme (the “Programme”) announced on 19 December 2019. [link]

Totally_Wired 19 Dec 2019

Proactive Investors today Metal Tiger’s McNeilly details new funding arrangement and share buyback plans (Video) 11:50 Thu 19 Dec 2019 Metal Tiger’s (LON:MTR) Michael McNeilly discusses with Proactive London’s Andrew Scott the plans around its share buyback programme. MTR intends to buy back up to 155.9mln shares - equivalent to 10% of the current issued share capital of the company. McNeilly also talks through its financing arrangement with a global investment bank that was announced earlier this week. They’re using 1.68mln Sandfire Resources shares as security for the financing. [link]

Totally_Wired 19 Dec 2019

RNS 19 December 2019 Metal Tiger plc Share Buyback Programme Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, announces that it intends to commence a share buyback programme (the “Programme”) to buy back ordinary shares of 0.01p in the capital of the Company (the “Shares”) up to a maximum aggregate amount of 155,917,230 Shares (the “Maximum Amount”). The Programme will be implemented by the Company in accordance with the general authority received by way of a shareholders’ resolution passed at a general meeting of the Company held on 6 November 2019 and all Shares purchased will be acquired within the parameters as to price and volume specified in that authority. The Company has entered into an agreement with its broker, Arden Partners plc (“Arden”), to carry out purchases of its Shares under the Programme on its behalf. The agreement provides Arden with authority to carry out market purchases under the Programme independently of the Company in certain circumstances (initially up to a value of £500,000). The purpose of the Programme is to reduce the Company’s share capital. The Board believes that the Programme may reduce the discount of the Company’s share price to net asset value and provide more liquidity in the Company’s shares (giving shareholders who do not wish to remain invested an orderly liquidity event). The Programme will be carried out on the London Stock Exchange and will be effected within certain pre-set parameters, including the safe harbour provisions set out in the Market Abuse Regulation 596/2014 (“MAR”), the Commission Delegated Regulation (EU) 2016/1052 and the applicable laws and regulations of the London Stock Exchange. The Programme will be undertaken until the earlier of the Maximum Amount being repurchased or the Company’s annual general meeting in 2020. Any Shares repurchased will be held as treasury shares in accordance with the provisions of the Companies Act 2006 and it is the intention of the Company to cancel such shares. The Company will make further announcements in due course following the completion of any share repurchases. At the time of this announcement, the number of Shares in issue in the Company is 1,559,172,297, of which nil are held in treasury. Accordingly, the total number of Shares with voting rights is 1,559,172,297. There is no guarantee that the Programme will be implemented in full or that any Shares will be repurchased by the Company. [link]

Totally_Wired 17 Dec 2019

RNS Metal Tiger plc Completion of financing arrangement secured against investment in Sandfire Resources NL Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to announce that, following the receipt of 6,296,990 new ordinary shares in Sandfire Resources NL (ASX:SFR) (“Sandfire”), announced on 23 October 2019, it has entered into an equity derivative collar financing arrangement (“Financing Arrangement”) with a global investment bank (the “Lender”) pursuant to an Equity Option and Loan Facility (the “Umbrella Facility”). The Financing Arrangement is secured over 1,675,125 of the ordinary shares in the capital of Sandfire (“Sandfire Shares”) held by Metal Tiger (the “Security”), representing approximately 0.9% of Sandfire’s issued share capital. Under the terms of the Financing Arrangement, Metal Tiger has: entered into a stock lending arrangement with the Lender, pursuant to which the Lender (or an affiliate of the Lender) can borrow up to 1,675,125 Sandfire Shares from Metal Tiger; obtained the right (but not the obligation) to sell 1,675,125 Sandfire Shares to the Lender in three years’ time at 80% of the reference price, being A$6.10 (subject to customary adjustments) (the “Reference Price”) (the “Put”); granted the Lender the right (but not the obligation) to buy 1,675,125 Sandfire Shares from Metal Tiger in three years’ time at an agreed premium of 145% of the Reference Price (the “Call”); and borrowed A$8,174,610 from the Lender secured on the combination of the above with a maturity date of 16 December 2022 (the “Loan”). Metal Tiger has the right to elect to settle the Put and the Call by way of physical delivery of Sandfire Shares or by way of a cash payment reflecting the value of the Put and Call at the time. Costs of approximately A$0.675m associated with the financing arrangements (inclusive of all interest obligations and the net cost of the equity derivative collar for the term of the initial Financing Arrangement) have been deducted from the Loan proceeds of approximately A$8.175m to leave Metal Tiger with A$7.5m of cash proceeds to fund: Metal Tiger’s proposed share buy back (announced on 15 October 2019 and approved by Metal Tiger’s shareholders at a general meeting of the Company on 6 November 2019); Metal Tiger’s participation in the Cobre IPO (as per the Metal Tiger announcement dated 20 November 2019); existing and new public and private investments; and general working capital requirements. Metal Tiger can agree with the Lender to utilise the balance of Sandfire Shares held by it to increase the size of the Financing Arrangement at a later date. If the total Loan balance outstanding on 30 June 2020 is less than A$20m, Metal Tiger will be required to pay a commitment fee (“Commitment Fee”) to the Lender, the maximum Commitment Fee payable by Metal Tiger is A$118,254. Commenting on the financing arrangements, Mr Michael McNeilly, Chief Executive Officer of Metal Tiger, said: "Metal Tiger has been very pleased with its investment initially in MOD Resources Ltd and now Sandfire Resources NL. We look forward to executing on our strategy of investing in strategic natural resource opportunities by way of the cash raised through this financing facility and note that the financing is not only cost effective but importantly does not include any share price based triggers.” [link]

Totally_Wired 06 Dec 2019

RNS Kalahari Metals Limited – Botswana Drilling Update with Images 5 December 2019 Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to provide an exploration update for the Kalahari Metals Limited (“KML”) Botswana copper-silver (Cu-Ag) exploration projects; Kitlanya West (“KIT-W”); Kitlanya East (“KIT-E”); and the Okavango Copper Project (“OCP”). The Company has a 59.81 per cent interest in KML. Highlights OCP 2019 Drilling Programme totalling 1,656m has completed with the six holes (OCP01 to OCP06) successfully proving the presence of D’Kar Formation (“DKF”) and Ngwako Pan Formation (“NPF”) stratigraphy and the DKF-NPF contact that hosts prospective Cu-Ag mineralisation. Hole OCP06 has intersected two wide zones, totalling 85m, with visible Copper-sulphide mineralisation, between 240m – 255m and 272m – 342m downhole depth. Visible sulphides in OCP06 include chalcopyrite, bornite and minor chalcocite hosted in veins, fractures and disseminated forms, with increased intensity proximal to the DKF-NPF contact. Core samples are being sent for assay. Holes OCP01 to OCP05 also display anomalous lead (“Pb”), zinc (“Zn”), silver (“Ag”) along with elevated Cu values based on portable XRF analysis and logging. All holes, except OCP05, intersected the DKF-NPF contact at the modelled depth. Botswana Department of Environmental Affairs has authorised the commencement of exploration activities including drilling at KIT-W and KIT-E. Gazetting of the required Environmental Management Plans (“EMPs”) has completed and drilling is planned to commence testing structural targets at KIT-E, 5km from the T3 Deposit (which is 100% owned by Sandfire Resources NL) and its planned processing plant, in early 2020. Seven compelling drill targets have been identified from coincident regional soil sampling and airborne electromagnetic geophysics (“AEM”) results in the KIT-W area. The conductive targets associated with Pb-Zn soil anomalies, likely representing lower DKF units, are sited in a range of fold closure, anticline hinge zones, T3-type ‘domes’ and traditional limb style settings, all of which are considered prospective for Cu-Ag mineralisation. Michael McNeilly, Chief Executive Officer of Metal Tiger plc, commented: “We are very encouraged to report the intersection of wide zones of copper mineralisation from diamond drilling at KML’s Okavango Copper Project, on the Kalahari Copper Belt, in Botswana. Whilst we are still awaiting core assays the presence of trace copper sulphides, over a total interval of approximately 85m, may represent a mineralised halo to potentially higher-grade copper mineralisation nearby. We can also report the Botswana Department of Environmental Affairs has provided authorisation to proceed with exploration activities including drilling of high priority targets on KML’s Kitlanya properties. Drilling is planned to commence testing structural targets within the KIT-E area in early 2020. In the KIT-W area, encouraging findings from the recent regional soil sampling and AEM geophysics surveys, include the delineation of seven compelling targets which also warrant drill testing. We look forward to providing further updates in the near future.” More via link below: [link]

Totally_Wired 20 Nov 2019

RNS 20 November 2019 Metal Tiger plc Update on Cobre Pty Ltd Investment Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to provide an update on its investment in Cobre Pty Ltd (“Cobre”). In light of positive pre-marketing by Cobre, Metal Tiger has entered into a side letter with Cobre (the “Side Letter”), varying the terms of its subscription agreement dated 2 September 2019 (the “Subscription Agreement”), in order to allow Cobre to increase the size of its offering and raise A$10m as part of its proposed IPO on the Australian Stock Exchange (“ASX”) (the “Cobre IPO”). Under the terms of the Side Letter, Metal Tiger will be issued with an additional 750,000 fully paid new ordinary shares in Cobre (“Cobre Shares”) for a nominal subscription price of, in aggregate, A$1 within five business days (the “Additional Pre-IPO Shares”), in order to compensate the Company for the dilutive effects of the increased fundraise. The issue of the Additional Pre-IPO Shares will increase Metal Tiger’s aggregate pre-IPO shareholding to 7,350,000 Cobre Shares, representing approximately 15.7% of Cobre’s then issued share capital. Cobre has agreed to fully indemnify Metal Tiger for any tax charges (or other tax) that Metal Tiger incurs on the disposal of the Additional Pre-IPO Shares up to a capped aggregate amount of A$30,000. All other terms of the Subscription Agreement remain in place as previously announced on 2 September 2019. Under the Subscription Agreement, Metal Tiger has agreed to invest a minimum of A$2m at A$0.20 per share in the Cobre IPO which, assuming an increased fundraise of A$10m, will result in Metal Tiger’s holding in Cobre increasing to 17.9% on Cobre’s admission to trading on the ASX (“Admission”). In addition, Metal Tiger has the right to subscribe for additional shares under the Cobre IPO in its sole discretion, provided that its shareholding on Admission does not exceed 19.99% and Metal Tiger will forfeit its pre-IPO shares in Cobre (including the Additional Pre-IPO Shares) if it does not invest at least A$2m in the Cobre IPO. It is the current intention of the Board to invest the full A$2.4m in the Cobre IPO to go to 19.99%. Michael McNeilly has also been appointed as a director to the Cobre Board. Update on Cobre IPO Cobre currently expects that the prospectus for its IPO will be finalised and lodged with the Australian Securities and Investments Commission in early December 2019, with the offer period to open around mid-December 2019. Cobre further expects that the IPO will close in early January 2020, with Admission shortly thereafter. These timeframes are indicative only at this stage and may be subject to change without notice. Michael McNeilly, Chief Executive Officer of Metal Tiger, commented: “The Board is very pleased with the speed at which the team and advisers of Cobre have worked to progress the planned IPO on the ASX following our initial investment in September. The Board is delighted to be able to assist Cobre as it seeks to attract further investment and to ensure that there is adequate allocation for other investors to enable Cobre to take more capital if needed, and to accommodate the expected high demand for the Cobre IPO.” [link]

Totally_Wired 06 Nov 2019

RNS 6 November 2019 Metal Tiger plc Results of General Meeting Metal Tiger, the London Stock Exchange AIM listed investor in strategic natural resources opportunities, is pleased to announce that at the General Meeting of the Company held earlier today, the resolution placed before the meeting was approved. A further announcement will be made in due course setting out the parameters and mechanics of any share buy-back following the anticipated entering into of a sale facility agreement between the Company and its broker, Arden Partners plc (“Arden”). Shareholders should note that the Company can only enter into a sale facility agreement to effect a share buy-back when it has determined that it is not in possession of price sensitive information or otherwise in a closed period (either being defined as a “Closed Period”). If a sale facility agreement is entered into, amongst other things, it will enable Arden to effect, on the Company’s behalf, the share buy-back during a Close Period (until such time as the facility expires or is exhausted).