16 Nov 2022 16:29
16 November 2022
Metal Tiger plc
(“Metal Tiger” or the “Company”)
Investment in Southern Gold
Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed investor in natural resources opportunities, is pleased to announce that it has participated on a pro-rata basis in Southern Gold Limited’s (ASX:SAU) (“Southern Gold”) A$2 million placement at A$0.023 per share. Metal Tiger has subscribed for circa 16,608,696 new shares in Southern Gold for a total consideration of circa A$382,000. Metal Tiger’s investment is subject to shareholder approval at a General Meeting expected to be convened early January 2023.
Following completion of the placing Metal Tiger will be interested in 57,402,696 shares in Southern Gold representing approximately 19.1% of Southern Gold’s enlarged issued share capital.
Southern Gold is a gold explorer listed on the Australian Securities Exchange. Southern Gold owns 100% of a substantial portfolio of high-grade gold projects in South Korea that are largely greenfield epithermal gold-silver targets in the south-west of the country. Backed by a first-class technical team, Southern Gold’s aim is to find tier one epithermal gold-silver deposits in a jurisdiction that has seen very little modern exploration.
For the half-year ended 31 December 2021 Southern Gold reported a net loss of A$4,138,708 and net assets of A$18,909,866.
Michael McNeilly, Metal Tiger’s Chief Executive Officer, is a non-executive director of Southern Gold.
A link to Southern Gold’s announcement including details of the placement, released today, is set out below:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02598706-2A1413987?access_token=83ff96335c2d45a094df02a206a39ff4
For further information on the Company, visit www.metaltigerplc.com:
Michael McNeilly | (Chief Executive Officer) | Tel: +44 (0)20 3287 5349 |
Mark Potter | (Chief Investment Officer) |
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James Dance Robert Collins | Strand Hanson Limited (Nominated Adviser) | Tel +44 (0)20 7409 3494 |
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Steve Douglas Simon Johnson | Arden Partners plc (Broker) | Tel: +44 (0)20 7614 5900 |
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Gordon Poole Elfie Kent Rebecca Waterworth | Camarco (Financial PR) | Tel: +44 (0)20 3757 4980 |
Notes to Editors:
Metal Tiger PLC is admitted to the AIM market of the London Stock Exchange AIM Market ("AIM") and the ASX Market of the Australian Securities Exchange Market ("ASX") with the trading code MTR and invests in high potential mineral projects with a base, precious and strategic metals focus.
The Company's target is to deliver a high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector.
Equity Investments invests in undervalued natural resource companies. The majority of its investments are listed on AIM, the TSX and the ASX, which includes its interest in Sandfire Resources Limited (ASX: SFR). The Company also considers selective opportunities to invest in private natural resource companies, typically where there is an identifiable path to IPO.
The Company actively assesses new investment opportunities on an on-going basis and has access to a diverse pipeline of new opportunities in the natural resources and mining sectors. For pipeline opportunities deemed sufficiently attractive, Metal Tiger may invest in the project or entity by buying publicly listed shares, by financing privately and/or by entering into a joint venture.
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