MTR Metal Tiger Plc

TIDMMTR 
 
 

Metal Tiger Plc

("Metal Tiger" or the "Company")

Cobre and KML Update

Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to note that, further to its announcement of 15 December 2020, Cobre Limited ("Cobre") has today sent a notice of extraordinary general meeting (the "EGM") to its shareholders in respect of the conditional acquisition by Cobre of 51% of the issued share capital of Kalahari Minerals Limited ("KML") (the "Transaction"). The EGM will be held as a virtual meeting at 11:30am (AEST, Sydney time) on Tuesday, 6 April 2021. Metal Tiger will vote in favour of all resolutions where it is permitted to vote.

Metal Tiger is currently interested in 19.99% of Cobre and 62.17% of KML. Should Cobre shareholders approve the Transaction at the EGM, Metal Tiger will be issued additional shares pursuant to the Transaction, such that its interest in Cobre will increase to 20.72% of Cobre's then enlarged share capital, in exchange for part of its shareholding in KML, which, subject to the timing of receipt of change of control approval, in respect of KML, from the Minister of Mineral Energy and Water Resources of the Republic of Botswana, will reduce to 49.00% or 50.01%.

Michel McNeilly, Chief Executive Officer of Metal Tiger plc, commented:

"We are pleased that the EGM Notice has been sent to Cobre shareholders and, in anticipation of a successful vote, the respective teams at Cobre, Metal Tiger and Kalahari Metals are already putting in place appropriate plans to commence a drilling programme in the KML project areas, seeking to identify a potential copper resource discovery in proximity to Sandfire's T3 and A4 projects, as soon as possible post completion of the Transaction. I look forward to updating shareholders in the near future as these plans are established and evolve."

Cobre's notice of EGM and accompanying letter to shareholders can be accessed via the links below:

Notice of Extraordinary General Meeting/Proxy Form:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02349290-2A1284684?access_token=83ff96335c2d45a094df02a206a39ff4

EGM Letter to Shareholders:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02349292-2A1284688?access_token=83ff96335c2d45a094df02a206a39ff4

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) 
James Dance          Strand Hanson Limited            Tel +44 (0)20 7409 3494 
 Jack Botros         (Nominated Adviser) 
 Georgia Langoulant 
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/20210303005492/en/

 
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    SOURCE: Metal Tiger plc 
Copyright Business Wire 2021 
 

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