METAL TIGER PLC: Southern Gold Update (ASX:SAU)
January 28 2021 - 6:22AM
UK Regulatory
TIDMMTR
28 January 2021
Metal Tiger Plc
("Metal Tiger" or the "Company")
Southern Gold Update (ASX:SAU)
Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed
investor in natural resource opportunities, notes the press release
from Southern Gold Limited ("Southern Gold") which provides an
update on the sale process for Southern Gold's joint venture
interest in the Gubong and Kochang projects (the "JV"). The JV is
with London listed, Bluebird Merchant Ventures plc ("BMV"), and
Southern Gold holds its interest through wholly owned subsidiary,
International Gold Private Limited ("IGPL").
As announced by Southern Gold on 20 November 2020, IGPL is
deemed to have offered the sale of its JV interest to BMV and BMV
opted to acquire it.
As of the start of business on 27 January 2021, neither Southern
Gold nor IGPL had received payment of the agreed price of
US$9,945,000 (approximately AUD$12,915,000), due on the close of
the 60-day period (being 26 January 2021), from BMV.
Southern Gold has received a letter from BMV proposing
alternative means of payment which will be considered whilst
maintaining an open dialogue with BMV.
Metal Tiger is currently interested in 37,794,000 Southern Gold
shares, representing approximately 17.72% of the company, and
7,284,500 2-year A$0.18 warrants.
The link to Southern Gold's press release can be found
below:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02334287-2A1276827?access_token=83ff96335c2d45a094df02a206a39ff4
For further information on the Company, visit:
www.metaltigerplc.com:
Enquiries:
Michael McNeilly (Chief Executive Officer) Tel: +44 (0)20 7099 0738
Mark Potter (Chief Investment Officer)
James Dance Strand Hanson Limited Tel +44 (0)20 7409 3494
Jack Botros (Nominated Adviser)
Georgia Langoulant
Paul Shackleton Arden Partners plc (Broker) Tel: +44 (0)20 7614 5900
Steve Douglas
Gordon Poole Camarco (Financial PR) Tel: +44 (0)20 3757 4980
James Crothers
Hugo Liddy
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: 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.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20210128005554/en/
CONTACT:
Metal Tiger plc
SOURCE: Metal Tiger plc
Copyright Business Wire 2021
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January 28, 2021 06:22 ET (11:22 GMT)
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