METAL TIGER PLC: Investment in Marimaca Copper Corp (TSXV:MARI)
December 04 2020 - 1:25AM
UK Regulatory
TIDMMTR
4 December 2020
Metal Tiger Plc
("Metal Tiger" or the "Company")
Investment in Marimaca Copper Corp (TSXV:MARI)
Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed
investor in natural resource opportunities, is pleased to announce
that it has subscribed for 141,956 units in Marimaca Copper Corp
("Marimaca"), at a price of C$3.15 per unit, for a total investment
of C$447,161 (approximately GBP257,000) as part of Marimaca's
C$28.98 million equity financing which was announced as having
closed on 3 December 2020 (the "Fundraise"). Each unit consists of
one common share in Marimaca and one-half of one common share
purchase warrant (each whole warrant, a "Warrant") exercisable at a
price of C$4.10 for a period of 24 months following the closing
date of the Fundraise (being 3 December 2020). Accordingly, Metal
Tiger now holds, in aggregate, 146,956 shares in Marimaca,
representing approximately 0.2% of Marimaca's issued share capital
and 70,978 Warrants.
Marimaca is a TSXV quoted copper exploration company focused on
exploring and developing new sources of copper. Their flagship
project is the Marimaca Copper Project in Chile's Antofogasta
Region. Marimaca recently announced the results of a Preliminary
Economic Assessment for the Marimaca Copper Project which showed a
US$640 million post-tax NPV(8) (real) assuming a US$3.45/lb flat
long-term copper price, with a post-tax IRR of 38.0%. In addition,
Marimaca recently received approval for the construction of up to
365 drill pads over the next three years encompassing 3,800
hectares of highly prospective exploration ground. The company is
expected to drill first targets in early Q1 2021.
For the nine months ending 30 September 2020, Marimaca reported
a net income of approximately US$4.9 million and, as at 30
September 2020, reported net assets of approximately US$37.9
million.
For further information on the Company, visit:
www.metaltigerplc.com:
Enquiries:
Michael McNeilly (Chief Executive Officer) Tel: +44 (0)20 7099 0738
Mark Potter (Chief Investment Officer)
Richard Tulloch Strand Hanson Limited (Nominated Tel +44 (0)20 7409 3494
James Dance Adviser)
Jack Botros
Paul Shackleton Arden Partners plc (Broker) Tel: +44 (0)20 7614 5900
Steve Douglas
Gordon Poole Camarco (Financial PR) Tel: +44 (0)20 3757 4980
James Crothers
Hugo Liddy
Notes to Editors:
Metal Tiger PLC is admitted to the AIM market of the London
Stock Exchange AIM Market ("AIM") with the trading code MTR and
invests in high potential mineral projects with a base, precious
and strategic metals focus.
The Company's target is to deliver a high return for
shareholders by investing in significantly undervalued and/or high
potential opportunities in the mineral exploration and development
sector. Metal Tiger has two investment divisions: Equity
Investments and Project Investments.
Equity Investments invests in undervalued natural resource
companies. The majority of its investments are listed on AIM, the
TSX and the ASX, which includes its interest in Sandfire Resources
Limited (ASX: SFR). The Company also considers selective
opportunities to invest in private natural resource companies,
typically where there is an identifiable path to IPO. Through the
trading of equities and warrants, Metal Tiger seeks to generate
cash for investment for the Project Investments division.
Project Investments is focused on the development of its key
project interests in Botswana, where Metal Tiger has a growing
interest in the large and highly prospective Kalahari copper/silver
belt through its interest in Kalahari Metals Limited.
The Company actively assesses new investment opportunities on an
on-going basis and has access to a diverse pipeline of new
opportunities in the natural resources and mining sectors. For
pipeline opportunities deemed sufficiently attractive, Metal Tiger
may invest in the project or entity by buying publicly listed
shares, by financing privately and/or by entering into a joint
venture.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20201203006162/en/
CONTACT:
Metal Tiger plc
SOURCE: Metal Tiger plc
Copyright Business Wire 2020
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