Metal Tiger plc UK Regulatory Announcement: Investment in Antipa Minerals

LONDON–(BUSINESS WIRE)– 

21 April 2021

Metal Tiger plc

(“Metal Tiger” or the “Company”)

Investment in Antipa Minerals

Metal Tiger plc (AIM: MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to announce that it has subscribed for 7,142,860 new ordinary shares in Antipa Minerals Limited (ASX:AZY) (“Antipa”) at an issue price of A$0.042 per share for a total consideration of approximately A$300,000 (c.£166,176).

The investment forms part of an institutional placement by Antipa of approximately A$22million and a Share Purchase Plan of up to A$3 million (the “SPP”), resulting in a total capital raise of up to A$25 million. The placement was met with strong demand from international and domestic institutions together with sophisticated and professional investors. Newcrest Limited, Antipa’s largest shareholder, committed to approximately A$2.4 million to maintain its pro-rata shareholding at 9.9% and IGO Limited who subscribed for approximately A$1.2 million to maintain its shareholding at 4.9%.

The use of the proceeds from the capital raising will be used to maintain Antipa’s 35% interest in the Citadel JV with Rio Tinto and to accelerate exploration and appraisal activities at the Minyari Dome Project (100% owned), including follow up drilling and undertaking project development studies. The Citadel JV Project currently hosts a combined Mineral Resource of 63.8Mt at 0.8 g/t gold, 0.2% copper and 0.6 g/t silver for 1.6Moz gold, 127kt copper and 1.2Moz of silver.

Antipa is an ASX-listed mineral exploration company focused on exploring the Paterson Province of Western Australia which hosts several world-class mineral deposits, including the Telfer gold-copper-silver mine, the Winu copper deposit and the Havieron gold discovery. Antipa has significant farm-in agreements with Rio Tinto, Newcrest Mining and IGO limited and has consolidated a majority of exploration tenure in eastern Paterson.

Following completion of the fundraise, Metal Tiger will hold 7,142,860 shares in Antipa which will represent approximated 0.23% of the enlarged share capital following the fundraise (excluding the SPP).

For the interim six month period ended 30 December 2020, Antipa reported net assets of A$36,857,788 and a net loss of A$2,536,403.

Copies of Antipa’s press releases can be found at the links below:

Successful $25M Institutional Placement and SPP:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02365517-6A1029173?access_token=83ff96335c2d45a094df02a206a39ff4

Proposed issue of Securities – AZY:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02365519-6A1029187?access_token=83ff96335c2d45a094df02a206a39ff4

For further information on the Company, visit: www.metaltigerplc.com

Enquiries:

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.