16 Jun 2016 07:21
Metal Tiger Plc
("Metal Tiger" or the "Company")
Further Investment – Thor Mining
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource projects is pleased to announce a further investment in Thor Mining plc (“Thor”)(AIM:THR).
Metal Tiger has acquired an additional 85,000,000 Thor Mining shares through on-market purchases representing an additional amount invested of £25,382 and thus an average price per share of 0.02986p.
Following this acquisition Metal Tiger holds 197,000,000 shares representing 4.04% of Thor Mining’s issued share capital.
In addition Metal Tiger participated in the Thor placing announced on 17 May 2016 and has agreed to acquire a further 288,000,000 placing shares, subject to the passing of resolutions at Thor’s General Meeting scheduled to take place on 23 June 2016. In total Metal Tiger would then hold 485,000,000 shares in Thor Mining representing 8.45% of the issued share capital at that time.
Thor Mining reported a loss of £915,000 for the year ended 36.06.15 and unaudited net assets of £8,992,000 as at 31.12.15.
For further information on the Company, visit: www.metaltigerplc.com:
| Paul Johnson (Chief Executive Officer) | Tel: +44 (0)7766 465 617 | ||||
| Terry Grammer (Non- Executive Chairman) | Tel: +44 (0)207 099 0738 | ||||
| Sean Wyndham-Quin Neil Baldwin Nick Emerson Andy Thacker | Spark Advisory Partners Limited (Nominated Adviser) SI Capital (Sole Broker) | Tel: +44 (0) 2033 683 555
www.sparkadvisorypartners.com Tel: +44 (0) 1483 413 500 |
Notes to Editors:
Metal Tiger plc is listed on the London Stock Exchange AIM Market (“AIM”) with the trading code MTR and invests in high potential mineral projects with a precious and strategic metals focus.
The Company’s target is to deliver a very high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector timed to coincide, where possible, with a cyclical recovery in the exploration and mining markets. The Company’s key strategic objective is to ensure the distribution to shareholders of major returns achieved from disposals.
Metal Tiger’s Metal Projects Division is focused on the development of its key project interests in Botswana, Spain and Thailand. In Botswana Metal Tiger has a growing interest in the large and highly prospective Kalahari copper/silver belt. In Spain Metal Tiger the Company has tungsten and gold interests in the highly mineralised Extremadura region. In Thailand Metal Tiger has expanding interests over licences, applications and critical historical data covering antimony, copper, gold, silver, lead and zinc opportunities.
The Company has access to a diverse pipeline of new opportunities focused on the natural resource sector including physical resource projects, new natural resource centred technologies and resource sector related fintech opportunities. Pipeline projects deemed commercially viable may be undertaken by Metal Tiger or by an ISDX or AIM partner with whom the Company is engaged.
Metal Tiger also has an Asset Trading Division that holds various financial instruments for trading purposes including equities, warrants and royalty income. The aim of the division is to generate profits to reinvest into the Company’s project based activities.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160615006661/en/
Copyright Business Wire 2016