2 Apr 2020 10:27
Metal Tiger plc
("Metal Tiger" or the "Company")
Kalahari Metals Limited Update
Metal Tiger plc (AIM: MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, announces that further to its announcement of 9 March 2020, regarding Kalahari Metals Limited (“KML”) commencing drilling at Kitlanya East, Botswana has confirmed its first three cases of COVID-19 and ordered a national lockdown of all but essential services. The lockdown in Botswana will come into effect from today and is scheduled to remain in place for 28 days.
Accordingly, KML has suspended drilling in compliance with the directive. Drilling completed to date at Kitlanya East has intersected shallow lower D’Kar formation units, highlighting the potential for Cu-Ag mineralisation in close proximity to neighbouring Sandfire Resources T3 deposit. Continuation of drilling and sampling programmes at Kitlanya East are planned to recommence as soon as restrictions on movement are relaxed.
This announcement contains inside information for the purposes of the market abuse regulation (EU No. 596/2014) (“MAR”).
For further information on the Company, visit: www.metaltigerplc.com
Enquiries:
| Michael McNeilly Mark Potter | (Chief Executive Officer) (Chief Investment Officer) | Tel: +44 (0)20 7099 0738 | |||
| Richard Tulloch James Dance Jack Botros | 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 Hugo Liddy | 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") 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: Direct Equities and Direct Projects.
The Direct Equities Division invests in undervalued natural resource companies. The majority of its investments are listed on AIM, the TSX and the ASX, which includes its 3.69% interest in Sandfire Resources NL (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 in the Direct Projects Division.
The Direct Projects Division is focused on the development of its key project interests in Botswana, Kalahari copper/silver belt through its interest in Kalahari Metals Limited. In Thailand, Metal Tiger has interests in two potentially near-production stage lead/zinc/silver mines as well as license 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.
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