MTR.L Regulatory News (MTR)

Metal Tiger plc (MTR)

15 November, 2017

Metal Tiger Plc

("Metal Tiger" or the "Company")

Opportunity for Positive Change at Kingsgate Consolidated Limited

Metal Tiger plc (LON:MTR) advises that it has today taken action to preserve and enhance the value of its shareholding in Australian-listed Kingsgate Consolidated Limited ("KCN").

Metal Tiger is KCN's largest shareholding and owns 14,950,427 shares in KCN, representing a 6.7% interest.

Metal Tiger is concerned with KCN's governance and approach under the current board of directors who have overseen:

· the closure of KCN's flagship Chatree Gold Mine in Thailand (Chatree);

· a long running dispute with the Kingdom of Thailand in relation to Chatree's closure and the inability to reach a satisfactory resolution;

· the apparent breakdown in relations with the Kingdom of Thailand, the Thai Government and other key Thai stakeholders; and

· KCN's descent to become a finance-hungry litigation and exploration and development company.

Metal Tiger has initiated the opportunity to introduce much needed change at KCN by submitting a notice to the KCN Board pursuant to section 249D of the Australian Corporations Act 2001 (Cth) to convene and hold a general meeting, where KCN shareholders will be able to vote for the removal of current KCN directors and the appointment of Metal Tiger's nominees to the KCN Board.

Metal Tiger's nominees to join the KCN Board are proven, high quality professionals with the expertise and experience to maximise value for all KCN's shareholders and stakeholders.

In addition to its nominees, Metal Tiger believes current KCN director Peter Alexander, who has considerable mining industry experience, can positively contribute to the new KCN Board.

Metal Tiger under its 249D notice has put forward resolutions for the removal of Ross Smyth-Kirk (Chairman of KCN), Sharon Skeggs (Non-Executive Director of KCN) and Peter Warren (Non-Executive Director of KCN) and the appointment of two independents being Richard ("Dick") F E Warburton AO LVO and Neville Bergin and three Metal Tiger Board members being Michael McNeilly, Terry Grammer and Mark Potter.

Background on Metal Tiger's nominees are set out below:

Richard ("Dick") F E Warburton AO LVO

Dick is one of Australia's most experienced board members. He has chaired or been director of public, private and government boards over many years. He is currently Chairman of MFF Capital Investments Ltd, a Director of O'Connell Street Associates and Chairman of the Sydney Adventist Hospital Foundation board. Dick is a former Chairman and CEO of Dupont Australia and New Zealand, and worked with Dupont for 30 years in marketing, manufacturing, technical and management roles in Australia, USA and Thailand. He was a Board Member of the Reserve Bank of Australia, Chairman of the Australian Board of Taxation, Caltex Australia Ltd, David Jones Ltd, Westfield Retail Trust, Goldfields Ltd, and Wool International and a Director of Scentre Group, Southcorp Ltd, Tabcorp Holdings Ltd, Nufarm Ltd and other companies.

He was appointed an Officer in the Order of Australia in 2005 and a Lieutenant in the Royal Victorian Order in 2011.

Neville Bergin

Neville is a mining engineer with extensive experience accumulated over four decades in the mining industry. He has had exposure to a range of commodities and both underground and open pit operational experience. His broad experience base encompasses many operational and executive roles, together with around five years' experience as a non-executive director of both ASX listed and unlisted companies.

Neville has extensive experience in technical due diligence having undertaken this type of investigation for several past employers. He is also well versed in study management having managed several feasibility studies. He has a BSc from the Camborne School of Mines in the UK and currently runs his own mining consultancy business.

Michael McNeilly

Michael is Metal Tiger's Chief Executive Officer and is an experienced corporate financier having advised several private, Main Market listed, AIM quoted and ISDX listed companies on a variety of corporate transactions during his tenure at Arden Partners (AIM:ARDN) and Allenby Capital respectively. Metal Tiger plc (Brady Exploration plc) was one of Michael's clients whilst at Allenby Capital. Michael McNeilly spends half his time in Thailand monitoring Metal Tiger's investment in its Thai Direct Project interests.

Michael was also previously a director of Greatland Gold plc.

Terry Grammer

Terry is an award-winning geologist with over 40 years' experience in mining and mineral exploration with extensive experience in Australia, Africa, Southeast Asia and New Zealand and has been involved in numerous ASX-listed companies that have achieved dramatic growth. Terry is responsible for sourcing Metal Tiger's Thai Direct Project interest and has spent an extensive period of time in Thailand looking at mining opportunities in the country.

As a geologist, Terry discovered the Cosmos Nickel deposit for ASX-listed Jubilee Mines NL which went on to be an ASX Top 200 company and for which Terry was awarded the AMEC (Association of Mining & Exploration Companies) joint Prospector of the Year in 2000. As co-founder/director, Terry listed Western Areas NL (ASX:WSA) in 2000 (and served as Exploration Manager from 2000 to 2004).. Terry was Chairman of South Boulder Mines (ASX:STB) from 2008-2013 which grew to be an ASX Top 300 company. From 2010 to 2015, Terry was a director of Sirius Resources NL (ASX:SIR) and helped to guide the company through the discovery, feasibility and development funding of the Nova nickel and copper deposits in Western Australia.

Mark Potter

Mark is the Founder and a Partner of Sita Capital Partners LLP, an investment management and advisory firm specialising in investments in the mining industry. He was formerly a Director and Chief Investment Officer of Anglo Pacific Group, a London listed natural resources royalty company, where he successfully led a turnaround of the business through acquisitions, disposals of non-core assets, and successful equity and debt fundraisings.

Prior to Anglo Pacific, Mark was a founding member and Investment Principal for Audley Capital Advisors LLP, a London based hedge fund, where he was responsible for managing all natural resources investments. Mark worked on several landmark deals in the mining sector including the successful distressed investment and turnaround of Western Coal Corp and its $3.3bn sale to Walter Energy Inc.

Mark has dual UK and Thai nationality.

For further information on the Company, visit: www.metaltigerplc.com: