LONDON (Alliance News) - Metal Tiger PLC said Thursday its investee Pan Asia Metals Ltd has received a special prospecting licence for its Reung Kiet lithium project and Khao Soon tungsten project, both in Thailand.
Pan Asia Metals - which is 14% owned by Metal Tiger - is expected to to begin a five to 10 hole drilling campaign at Reung Kiet in the first quarter of 2019.
Metal Tiger Chief Executive Officer Michael McNeilly said: "Pan Asia Metals is one of the few lithium exploration companies which is positioned to build competitively priced lithium carbonate and lithium hydroxide manufacturing capacity and is currently the only lithium exploration company located on the door step of key consumers in Southeast Asia and Asia more generally.
"We are delighted that the Thai government have granted the special prospecting licence applications to Pan Asia Metals and look forward to continuing to work with all stakeholders as we realise this highly important resource."
Shares in Metal Tiger closed down 1.4% Thursday at 1.36 pence each.