TIDMMTR
Metal Tiger Plc
("Metal Tiger" or the "Company")
Thailand Permitting Progress Update
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed
investor in strategic natural resource opportunities is pleased to
announce positive developments in respect of permitting
applications being submitted by our Joint Venture partner, Metal
Tiger Thailand ("MTT") and in respect of the national exploration
programme currently underway.
Highlights:
-- Experienced permitting team now established in Bangkok office;
-- Commencement of mine permitting process officially underway;
-- Positive advancement in Exploration Department of Special Prospecting
Licence Applications in multiple provinces; and
-- Subject to granting of Special Prospecting Licenses Thai geological
team gearing up to commence exploration work in respect of
existing
and new licence areas.
Paul Johnson, Chief Executive Officer of Metal Tiger commented
"Metal Tiger was pleased to announce during August the commercial
agreement in respect of the Boh Yai and Song Toh silver-lead-zinc
mines. This agreement marked a major step forward for the Company
and its Joint Venture partners in the plan to commence the
permitting process for mining lease applications for the 43-101
Compliant Resource of 4,851,000 tonnes and thereafter mine and
existing processing plant refurbishment leading to commercial
production.
In addition to the latter mines Metal Tiger has exposure to a
proactive national exploration programme in Thailand which is
making major progress pursuing existing interests and identifying
new opportunities.
This announcement provides details of latest developments in
this national programme, but is only a small part of the forward
news flow we anticipate from Thailand exploration work in the
remainder of 2016. Further updates will therefore by definition
follow.
Metal Tiger is privileged to be investing in Thailand, a country
which offers tremendous geological opportunity. The Thai Joint
Venture office is recruiting more Thai professional and
administration staff whose energy, dynamism and commitment is
invigorating. We are helping to build an ambitious Thai business
that has been initially financed through London, but where we
anticipate Asian finance will increasingly play a part in financing
local activities."
PERMITTING INFORMATION
Chanthaburi Province:
-- MTT have completed work with the Chanthaburi Provincial Industrial
Office to complete the provincial process for Special
Prospecting
License Application ("SPLA") 1/2559.
-- The Application has now been moved into final approval stages and is
under review by the Department of Primary Industry and Mines
("DPIM")
Sub-Committee.
-- MTT will continue to liaise with DPIM Bangkok with a view to granting
of the Application license.
Prachinburi Province:
-- The exploration plan and budget for SPLA 1-3/2559 in Prachinburi has
been revised and re-submitted to the DPIM Regional Technical
Centre
and both documents have now been approved. All required
documents for
the Application have now been completed and the Prachinburi
Industrial
Office recently proposed the SPLAs to the Provincial Governor
for
consideration prior to forwarding to the DPIM in Bangkok and the
final
stages of approval.
-- MTT will continue its work and liaison the Provincial Industrial
Office and thereafter the DPIM Bangkok for the final approval
stages
in DPIM Bangkok.
Kanchanaburi Province:
SPLA Block 1:
-- The exploration plan and budget for SPLA 1-2/2559 and SPLA 5-7/2559 in
Kanchanaburi have been revised and re-submitted to DPIM
Regional
Technical Centre. The plan and budget are now under
consideration.
-- MTT continues to work and liaise with the Regional Technical Centre
for approval to move the application to DPIM Bangkok.
SPLA Block 2:
-- The Kanchanaburi SPLA 1/2557 remains with the Provincial Kanchanaburi
Industry Office pending decisions on land use with the
Provincial Land
Reform Office.
-- MTT is continuing to work with government agencies in Kanchanaburi to
progress the SPLA and to secure submission to the DPIM in
Bangkok.
Nakon Sawan/Lopburi:
-- Applications are pending approval of Thailand's policy on gold.
-- MTT is pleased with the careful consideration being given by local and
national authorities in the development of its gold policy.
We
continue to work with the government in this regard and take
care to
listen to the feedback we are given with regard to progress on
policy
development.
For further information on the Company, visit:
www.metaltigerplc.com:
Paul Johnson (Chief Tel: +44 (0)7766 465 617
Executive Officer)
Terry Grammer (Non- Tel: +44 (0)207 099 0738
Executive
Chairman)
Sean Wyndham-Quin Spark Advisory Partners Tel: +44 (0)
Neil Baldwin Limited 2033 683 555
Nick Emerson (Nominated Adviser)
Andy Thacker SI Capital www.sparkadvisorypartners.com
(Sole Broker) Tel: +44 (0)
1483 413 500
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
Metal Tiger the Company has tungsten and gold interests in the
highly mineralised Extremadura region. In Thailand Metal Tiger has
expanding interests over 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 ISDX or AIM partner with whom the Company is
engaged.
Metal Tiger also has an Asset Trading Division that holds
various financial instruments for trading purposes including
equities, warrants and royalty income. The aim of the division is
to generate profits to reinvest into the Company's project based
activities.
View source version on businesswire.com:
http://www.businesswire.com/news/home/20160923005206/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
September 23, 2016 03:47 ET (07:47 GMT)
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