Metal Tiger plc Thai Minerals Management Master Plan
31 July 2018 - 10:00PM
UK Regulatory
TIDMMTR
31 July 2018
Metal Tiger plc("Metal Tiger" or the "Company")
Thai Minerals Management Master Plan
Metal Tiger is pleased to announce that on 31 July 2018, the
Thai Cabinet approved the 20-year mineral management strategy
(2017-2036) and the 5-year mineral management master plan for
2017-2021 (the "Master Plan") meaning that both the strategy and
the Master Plan are effective immediately. Mining lease application
areas and special prospecting licence application areas under the
KEMCO project as well as the Thai JV all fall into the MDA
classification and the approval of the Master Plan therefore
removes a significant legislative hurdle to the progression of
Metal Tiger's Thai project and enables the Thai JV to formally
progress all licence applications. The strategy and Master Plan
aims to integrate Thailand's management of mineral resources while
ensuring that the mining industry will be environmentally friendly,
with an elevated focus on the quality of life of people affected by
the mining industry. In the approved strategy, four points of
emphasis have been included:
-- the classification of mineral zone;
-- the formulation of mineral policy;
-- the development of a regulatory mechanism; and
-- the promotion of general public participation.
The Master Plan classifies areas and/or specific minerals that
should be restricted or conserved and designates mineral deposit
areas (MDAs) where mining will be permissible. Designation of the
MDAs is based on the criteria that a deposit must be rich in
mineralisation with high economic value, and that there must be
available technology for effective mining with suitable measures
for protection from environmental impact and protection of public
health. Under the first 5-year Master Plan, in order to allow
continuity of the mining industry, areas covered by mining leases,
registered mining lease renewal applications, registered mining
lease applications, prospecting licences and areas designated for
aggregate mining are all classified as MDAs. Michael McNeilly,
Chief Executive Officer of Metal Tiger plc commented: "The 20-year
mineral management strategy and the first 5-year mineral management
master plan has been under consideration by the Government of
Thailand for over a year, and this represents a major milestone and
the removal of a major hurdle that has kept Metal Tiger's mining
projects in Thailand from progressing. We are delighted that the
Thai mining and exploration licence applications are now in a
position to progress towards granting."
For further information on the Company, visit:
www.metaltigerplc.com:
Michael McNeilly Chief Executive Officer Tel: +44 (0)20 7099 0738
(Metal Tiger plc)
Mark Potter Chief Investment Officer Tel: +44 (0)20 7099 0738
(Metal Tiger plc)
Stephen AllenBhavesh Patel RFC Ambrian Ltd(Nominated Adviser) Tel: +44 (0)20 3440 6800
Charlie Cryer RFC Ambrian Ltd(Joint Broker) Tel: +44 (0)20 3440 6800
Nick Emerson SI Capital(Joint Broker) Tel: +44 (0)1483 413 500
Gordon Poole Camarco(Financial PR) Tel: +44 (0)20 3757 4980
James Crothers
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, the Company has tungsten and gold
interests in the highly-mineralised Extremadura region. In
Thailand, Metal Tiger has interests in two potentially
near-production stage silver/lead/zinc mines as well as 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 AIM or NEX Exchange
(formerly ISDX) partner with whom the Company is engaged.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20180731005500/en/
This information is provided by Business Wire
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