Share Prices & Company Research

Market News

16 Nov 2018 | 08:15

Metal Tiger completes formation of new Botswana JV with MOD Resources

Metal Tiger said it had agreed with partner MOD Resources to sell 10 remaining exploration licenses to their new joint venture company, Tshukudu Exploration.

Eight of 18 exploration licences related to the pair's T3 project in Botswana had already been transferred to the JV. The remaining 10 were being held in trust.

The creation of the new JV had now been completed in full, Metal Tiger said.

The company had therefore been issued with around 17.1m MOD shares and 40.7m unquoted options with a nil exercise price, expiring on 15 November 2021.

Following the issue of the consideration shares, Metal Tiger would own about 12.5% of MOD's enlarged share capital.

At 8:15am: (LON:MTR) Metal Tiger Plc Ord 0.01p share price was 0p at 1.78p

Story provided by StockMarketWire.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.