LONDON (Alliance News) - Metal Tiger PLC on Monday said its Thai joint venture has signed a 45-day due diligence and standstill exclusivity agreement with Thai Goldfields in order to advance discussions related to the polymetallic Mae Yom prospect in Phrae province.
"The work of our JV team in-country is proving to be exceptionally productive in the identification of new mineral opportunities and we are therefore expanding the technical team to include further Thai geologists," Chief Executive Paul Johnson said in a statement.
"This expansion increases the capacity of the team to investigate and review an increasing number of opportunities and thus helps ensure that the company can identify the best opportunities and lodge licence applications or agree commercial transactions in a timely manner," he added.
Shares in Metal Tiger closed down 5.1% at 3.37 pence on Monday.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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