28 Nov 2022 14:23
Metal Tiger plc
(“Metal Tiger” or the “Company”)
Southern Gold Update
Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed investor in natural resources opportunities, is pleased to note that Southern Gold Limited’s (ASX:SAU) (“Southern Gold”) has provided an exploration update on activities at its Goseong and Deokon Projects.
As announced on 16 November 2022, Metal Tiger has participated on a pro-rata basis in Southern Gold’s A$2 million placement at A$0.023 per share. Metal Tiger has subscribed for 16,608,696 new shares in Southern Gold for a total consideration of A$382,000. Metal Tiger’s investment is subject to shareholder approval at a General Meeting expected to be convened early January 2023.
Following completion of the placing, Metal Tiger will be interested in 57,402,696 shares in Southern Gold representing approximately 19.1% of Southern Gold’s enlarged issued share capital.
A link to Southern Gold’s announcement, released today, is set out below:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02604381-2A1416559?access_token=83ff96335c2d45a094df02a206a39ff4
For further information on the Company, visit www.metaltigerplc.com:
Michael McNeilly | (Chief Executive Officer) | Tel: +44 (0)20 3287 5349 | ||
Mark Potter | (Chief Investment Officer) |
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James Dance Robert Collins | Strand Hanson Limited (Nominated Adviser) | Tel +44 (0)20 7409 3494 | ||
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Steve Douglas Simon Johnson | Arden Partners plc (Broker) | Tel: +44 (0)20 7614 5900 | ||
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Gordon Poole Elfie Kent 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.
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.
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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