12 Sep 2016 07:00
Metal Tiger Plc
12 September 2016
Metal Tiger Plc
(“Metal Tiger” or the “Company”)
Memorandum of Understanding Signed with Saudi Group
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to announce that it has signed a Memorandum of Understanding (“MOU”) with Al-Sharif Group (“ASG”) based in the Kingdom of Saudi Arabia (“Saudi Arabia”) to explore mining and related financing opportunities globally, in the Gulf Cooperation Council (“GCC”) region and also Saudi Arabia.
Key points of MOU:
MTR and ASG to explore project level joint venture and/or co-investment opportunities with MTR both regionally and internationally; ASG and MTR to consider access to capital from the GCC region for mining related opportunities; MTR to support ASG in developing its base of contacts and access to relevant quality expertise in the mining sector; ASG to introduce attractive mining opportunities in Saudi Arabia, the GCC region and possibly globally through its local and extended network of contacts; ASG to work with MTR to enhance awareness in the GCC region and in particular Saudi Arabia of investment opportunities in mining; and MTR and ASG to discuss the viability of a UK listed investing/operating company focussed on mining opportunities globally but with a focus on Saudi opportunities.Paul Johnson the Chief Executive Officer of Metal Tiger commented: “We are very pleased to announce this MOU with ASG which provides a portal for Metal Tiger to access capital and new opportunities in Saudi Arabia, the GCC and globally.
The enthusiasm demonstrated by ASG to develop its interests in mining activities is very clear to us and we welcome this collaboration with them that we trust will yield tremendous mining finance and project opportunities for both parties.
Members of Metal Tiger senior management will be visiting Saudi Arabia in the near term to advance this partnership and the parties will also be engaging in London in due course.
Further information will be provided in respect of this MOU and the activities undertaken at the earliest opportunity.”
Al-Sharif Group – Background Information
ASG is a leader in Saudi Arabia in providing energy through distribution and transmission and has an established presence in Saudi Arabia, with over 1,400 employees, 35 years of experience and having completed 73 projects for over 3,500 KM of transmission lines across Saudi Arabia. ASG’s divisions include Civil Works, Power Generation, Over Head Transmission Lines, Under Ground Cabling and Substations Testing. ASG also has an investment & real estate management division. ASG have completed projects for the Kuwait Ministry of Electricity, Saudi National Guard, Saudi Royal Commission, Saudi Arabian Airlines, Saudi Ministry of Education, Saudi Electricity Company amongst others.
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 | Spark Advisory Partners Limited
(Nominated Adviser) | Tel: +44 (0)2033 683 555
www.sparkadvisorypartners.com | ||||
| Nick Emerson
Andy Thacker | SI Capital
(Sole Broker) | 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, 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.
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