3 Apr 2019 11:13
3 April 2019
Metal Tiger plc
("Metal Tiger" or the "Company")
Kalahari Metals Limited - Environmental Permitting Update
Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to announce that Kalahari Metals Limited ("KML"), in which Metal Tiger owns 50% of the issued share capital, has received notification that the Environmental Management Plan ("EMP") for KML's Ngami Copper Project ("NCP") has been reviewed and approved by the Botswana Department of Environmental Affairs ("DEA"), subject to a four-week public review period.
The public review is the precursor to the EMP authorisation which, if granted, would allow diamond drilling to commence on three compelling targets within the NCP. Competitive drilling tenders have been received and KML is confident drilling will take place shortly after completion of the public review.
In addition, the EMP for KML's Okavango Copper Project ("OCP") has been resubmitted with clarifications following feedback from the DEA. KML views this as a significant step forwards, as KML went through the same clarificatory process with the DEA, prior to the approval of the EMP for NCP.
The EMPs for both the Kitlanya East and Kitlanya West projects have also been submitted to the DEA, following the identification of high priority new targets for investigation in both areas, as announced 7 March 2019.
Michael McNeilly, Chief Executive Officer of Metal Tiger plc, commented:
"I am delighted by the continued support that the Botswana Department of Environmental Affairs has shown for the development of the KML portfolio, in which we see significant potential. The KML portfolio now includes a number of exciting geophysical and structural targets, which warrant further investigation by drilling. The anticipated drilling approvals for the Ngami Copper Project will commence an exciting new chapter for the Company and our shareholders, and we look forward to providing further updates in due course."
Project Background
KML holds interests in 12 highly prospective exploration licences covering a total area of 8,724km2 in the Kalahari Copper Belt, consisting of two 100% owned exploration licences, five exploration licences subject to a binding earn-in agreement with Triprop Holdings (Pty) Limited and five exploration licences subject to an agreement with Resource Exploration and Development Ltd.
Under an investment agreement, announced on 6 June 2018, Metal Tiger owns 50% of KML, providing Metal Tiger with further exposure to a largely unexplored area, adjacent to significant recent discoveries in the highly prospective Kalahari Copper Belt.
Competent Person's Statement
The technical information contained in this disclosure has been read and approved by Mr Nick O'Reilly (MSc, DIC, MAusIMM, FGS), who is a qualified geologist and acts as the Competent Person under the AIM Rules - Note for Mining and Oil & Gas Companies. Mr O'Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Metal Tiger PLC to provide technical support.
For further information on the Company, visit: www.metaltigerplc.com:
Michael McNeilly
| (Chief Executive Officer) | Tel: +44 (0)20 7099 0738 |
Mark Potter | (Chief Investment Officer) | |
Richard Tulloch James Dance Jack Botros | Strand Hanson Limited (Nominated Adviser) | Tel +44 (0)20 7409 3494 |
Nick Emerson | SI Capital (Broker) | Tel: +44 (0)1483 413 500 |
Gordon Poole James Crothers Monique Perks | Camarco (Financial PR) | Tel: +44 (0)20 3757 4980 |
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 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. The Company's key strategic objective is to ensure the distribution to shareholders of major returns achieved from disposals. Metal Tiger has two investment divisions: Direct Equities and Direct Projects.
The Direct Equities division invests in undervalued natural resource companies listed on AIM, the ASX and the TSX. Through the trading of equities and warrants, Metal Tiger seeks to generate cash for investment in the Direct Projects division.
Metal Tiger's Direct Projects division is focused on the development of its key project interests in Botswana, Spain and Thailand. In Botswana, Metal Tiger, through its 10.48% interest in MOD Resources Limited and related JV, has a growing interest in the large and highly prospective Kalahari copper/silver belt. In Spain, the Company has tungsten and gold interests in the highly mineralised Extremadura region. In Thailand, Metal Tiger has interests in two potentially near-production stage lead/zinc/silver mines as well as licences, applications and critical historical data covering antimony, copper, gold, lead, zinc and silver opportunities.
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.