Ambitious London-based investor in strategic natural resource opportunities, Metal Tiger, has made a further investment in Thai miner Kingsgate Consolidated. Metal Tiger has acquired a further 1.85 million shares in the company, taking its stake to 4.99%.
The value of the shares purchased on October 13 was A$601,065. Its investment in Kingsgate, which has the Chatree Gold Project through its Thai subsidiary Akara Resources Public Company Limited, began on June 22.
Metal Tiger’s purchases have been financed primarily from funds realised from trading division disposals.
Kingsgate Consolidated is an ASX-listed gold company which owns two main assets, the Chatree Gold Mine and the Nueva Esperanza Silver Gold Project in Chile where a definitive feasibility study is expected in January 2018.
Kingsgate is in negotiations with the Thai Government to reopen the Chatree Gold Project after it ceased operations in December 2016. This came after the government cancelled gold mining licences in the country.
Metal Tiger’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 timed to coincide, where possible, with a cyclical recovery in the exploration and mining markets.
The company’s Metal Projects Division is focused on the development of its key project interests in Botswana, Spain and Thailand. 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.