METAL TIGER PLC: Investment in Geopacific Resources Limited (ASX:GPR)
December 14 2020 - 3:38AM
UK Regulatory
TIDMMTR
Metal Tiger Plc
("Metal Tiger" or the "Company")
Investment in Geopacific Resources Limited (ASX:GPR)
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 952,354 shares in Geopacific Resources
Limited ("Geopacific"), at a price of A$0.42 per share, for a total
investment of A$399,988.68 (approximately GBP226k), as part of
Geopacific's A$140 million two tranche placement (the "Fundraise").
Metal Tiger subscribed for 122,185 shares in Tranche 1 and 830,196
shares in Tranche 2 of the Fundraise. Tranche 2 shares will be
issued subject to shareholder approval, which will be sought in
early February 2021. Following completion of the Fundraise, Metal
Tiger will be interested in 952,354 shares in Geopacific,
representing circa 0.19% of Geopacific's issued share capital.
Geopacific is an ASX quoted gold-copper development company. Its
primary focus is the development of the 1.6Moz Woodlark Gold
Project in Papua New Guinea. The company is targeting first gold
production for the end of Q4 CY 2022. Geopacific are close to
finalising US$100 million in project finance funding from Sprott.
The project has a post-tax NPV8 of A$347 million (approximately
US$253 million) and an IRR of 34% at a gold price of
A$2,200/oz.
For the 12 months ending 31 December 2019, Geopacific reported a
net loss of A$7.53 million and, as at 30 June 2020, reported net
assets of A$67.86 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/20201214005316/en/
CONTACT:
Metal Tiger plc
SOURCE: Metal Tiger plc
Copyright Business Wire 2020
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