Metal Tiger has received the first draft of a preliminary economic assessment (PEA) for its Song-Toh and Boh Yai silver lead zinc mines in Thailand. The draft from consultant SRK has boosted confidence over mineralisation interpretation, mine schedule and project costs.
Metal Tiger is working with SRK to enhance the project fundamentals and optimise the economics at the PEA level.
The techno-economic work is also highlighting areas for ongoing studies to increase revenue and cost accuracy for any future studies.
Metal Tiger plans to spin-off the Thai mines, which are in Kanchanaburi Province, into a separate subsidiary that will list in London in the summer.
Meantime, project management specialist Geoff McIntyre has stepped down from his executive post with Metal Tiger to become a non-executive director.
Metal Tiger says Geoff McIntyre has been instrumental in helping with the proposed Thai IPO and seeing as the IPO has significantly progressed with the appropriate management having been put in place for the spin-off, the Board and Geoff McIntyre believe it makes more sense for a reduced time commitment.