Metal Tiger

Monday, 9th July 2018 09:52 - by Rajan Dhall

Some good news for Metal Tiger (MTR) this morning, as the company reports significant visible copper sulphides logged at the joint venture project with partner MOD Resources in the Kalahari Copper Belt in Botswana (70% MOD Resources/30% Metal Tiger). 

Michael McNeilly Chief Executive Officer of Metal Tiger commented in the latest RNS saying

“We are delighted to report that the latest drill hole testing the core of the A4 Dome has intersected what looks to be significant copper sulphide mineralisation.The onsite geologists are particularly excited by the stockwork morphology of the mineralisation which is a style previously unseen by the JV drilling. This has further implications in that the A4 Dome appears to be an intact dome, so any vein hosted mineralisation deposited within the dome should still be there. Everyone is looking forward to receiving the assay results.”

Looking at the weekly chart you can see MTR has been on a bit of a run in recent weeks and with this news today I can see it possibly continuing to the 3.45p resistance zone. That area looks to be quite sticky as you can see it was used as the consolidation low on the left-hand side of the chart also.  Once we get there it is possible we may see some more consolidation unless the volume gets behind the move.

The Writer's views are their own, not a representation of London South East's. No advice is inferred or given. If you require financial advice, please seek an Independent Financial Adviser.