12 Feb 2018 16:13
MOD Resources Investment Update
12 February 2018
Metal Tiger Plc
("Metal Tiger" or the "Company")
MOD Resources Investment Update
Metal Tiger plc (LON:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to announce an update with regard the Company’s investment in MOD Resources Limited (“MOD”) (ASX:MOD).
Highlights:
Metal Tiger currently holds 111,200,000 MOD shares valued at present at A$6,004,800 (circa £3,395,036) at Friday’s ASX closing price of A$0.054. This represents 5.87% of the issued share capital of MOD; Metal Tiger also holds 1,541,667 warrants with an exercise price of $A0.06 (expiry 15.4.19)Since 29th August 2017, Metal Tiger has made the following investments in MOD:
| Date | Amount | Price (A$) | |||
| 29/08/2017 | 3,748,720 | 0.0615 | |||
| 17/11/2017 | 1,800,000 | 0.0531 | |||
| 21/11/2017 | 1,856,066 | 0.0534 | |||
| 14/12/2017 | 1,909,825 | 0.0500 | |||
| 15/12/2017 | 1,210,906 | 0.0500 | |||
| 18/12/2017 | 85,107 | 0.0500 | |||
| 19/12/2017 | 794,162 | 0.0500 | |||
| 20/12/2017 | 1,000,000 | 0.0500 | |||
| 17/01/2018 | 850,000 | 0.0570 | |||
| 17/01/2018 | 900,000 | 0.0577 | |||
| 19/01/2018 | 1,600,000 | 0.0637 | |||
| 22/01/2018 | 650,000 | 0.0622 | |||
| 05/02/2018 | 1,004,786 | 0.0595 | |||
| 06/02/2018 | 1,995,214 | 0.0591 |
Michael McNeilly Chief Executive Officer of Metal Tiger commented:
“We are pleased to confirm the increasing investment by the Company in MOD Resources. We anticipate further market updates in respect of Botswanan exploration progress in the near term.”
MOD reported audited net assets of A$31,504,515 and audited net loss of A$2,057,170 for the six months ended 30.06.17.
For further information on the Company, visit: www.metaltigerplc.com
| Michael McNeilly (Chief Executive Officer) | Tel: +44(0)20 7099 0738 | |||||||
| Keith Springall (Finance Director & Company Secretary) | Tel: +44 (0)20 7099 0738 | |||||||
| Stephen Allen or Bhavesh Patel | RFC Ambrian Ltd (Nominated Adviser) | Tel +44 (0)20 3440 6800 | ||||||
| Jonathan Williams | RFC Ambrian Ltd (Joint Broker) | Tel +44 (0)20 3440 6800 | ||||||
| Nick Emerson | SI Capital (Joint Broker) | Tel: +44 (0)1483 413 500 | ||||||
| Gordon Poole James Crothers | Camarco (Financial PR) | Tel: +44 (0)20 3757 4980 | ||||||
| Monique Perks |
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 interests in two potentially near-production stage silver/lead/zinc mines as well as 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 AIM or NEX Exchange (formerly ISDX) partner with whom the Company is engaged.
Metal Tiger plc
View source version on businesswire.com: http://www.businesswire.com/news/home/20180212005887/en/
Copyright Business Wire 2018