7 Jun 2021 07:00
7 June 2021
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 resource opportunities, is pleased to announce that it has purchased 3,000,000 shares in ASX listed Southern Gold Limited (ASX:SAU) (“Southern Gold”), at an average price (before costs) of approximately A$0.075 per share, for a total consideration of approximately A$225k.
Following this investment, Metal Tiger will be interested in 40,794,000 Southern Gold shares, representing approximately 19.1% of the company’s issued share capital, and 7,284,500 2-year A$0.18 warrants.
Southern Gold is a successful 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 30 December 2020, Southern Gold reported a loss before tax of A$1.1 million and net assets of A$19.1 million.
Michael McNeilly, Metal Tiger’s Chief Executive Officer, is a non-executive director of Southern Gold.
For further information on the Company, visit: www.metaltigerplc.com
Enquiries:
Michael McNeilly | (Chief Executive Officer) | Tel: +44 (0)20 3287 5349 | ||
Mark Potter | (Chief Investment Officer) |
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James Dance Georgia Langoulant | Strand Hanson Limited (Nominated Adviser) | Tel +44 (0)20 7409 3494 | ||
Paul Shackleton Steve Douglas | Arden Partners plc (Broker) | Tel: +44 (0)20 7614 5900 | ||
Gordon Poole James Crothers Hugo Liddy | 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. Metal Tiger has two investment divisions: Equity Investments and Project Investments.
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. Through the trading of equities and warrants, Metal Tiger seeks to generate cash for investment for the Project Investments division.
Project Investments is focused on the development of its key project interests in Botswana, where Metal Tiger has a growing interest in the large and highly prospective Kalahari copper/silver belt through its interest in Kalahari Metals Limited.
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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