7 Jul 2021 07:51
Metal Tiger plc
("Metal Tiger" or the "Company")
Sandfire Resources Update
Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed investor in natural resource opportunities, is pleased to note Sandfire’s announcement noting the granting of a Mining Licence by the Government of Botswana for the Motheo Copper Mine. Metal Tiger has a capped US$2m 2% net smelter royalty over production from the Motheo Copper Mine. Metal Tiger also has a 2% uncapped net smelter royalty over circa 8,000km2 of Sandfire's licence holdings in the Kalahari Copper Belt including PL190/2008 (excluding the Motheo Copper Mine project area), which hosts the A4 deposit.
Highlights:
- Mining Licence for the Motheo Copper Mine granted by the Government of Botswana.- The grant of the Mining Licence represents the last major permitting milestone required for full-scale construction of the US$279m (A$364m) project to commence, with initial site works already underway.- Updated Mineral Resource for the satellite A4 deposit expected to be finalised in the coming weeks, forming the cornerstone of the strategy to rapidly expand production at the Motheo Production Hub from 3.2Mtpa to 5.2Mtpa.- Sandfire remains on-track to commence mining at Motheo in early CY2022 and deliver first production in early 2023.
Metal Tiger is currently interested in 6,143,357 Sandfire shares representing approximately 3.4% of Sandfire's issued share capital. As announced on 31 July 2020, 2,842,667 of the Sandfire shares held by the Company are subject to an equity derivative financing arrangement with a global investment bank.
A link to Sandfire’s announcement released today is set out below:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02392932-6A1039854?access_token=83ff96335c2d45a094df02a206a39ff4
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) |
|
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 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. 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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