Pan Asia Metals – Planned IPO and Corporate Update
(“Metal Tiger” or the “Company”)
Pan Asia Metals – Planned IPO and Corporate Update
(LON:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to provide an update in respect of (“PAM”). PAM is a privately owned, South East Asian focused metals exploration and development company, with a focus on lithium and tungsten, in which Metal Tiger currently has a 7.29%.
:, Chief Executive Officer of Metal Tiger, commented
“We are pleased to report that PAM has now lodged its prospectus for an IPO on the ASX. With lead brokers appointed, it is anticipated that PAM’s IPO will complete in late .
“Following an early and effective governmental response to the COVID-19 pandemic, business in is returning to normal, the Khao Soon Tungsten Project Special Prospecting Licence TSPL1/2563 has now been granted and
“We look forward to supporting PAM as it continues to progress the IPO and will announce further updates as appropriate .”
The Company is pleased to announce that PAM has lodged its IPO prospectus with ASIC following in-principal approval received from the ASX on . PAM has engaged and as Co-lead Managers of the IPO. An indicative timetable for the IPO process has been published, targeting a listing date in late . Metal Tiger currently intends to participate in the IPO offering.
– TSPL1/2563 Special Prospecting Licence Granted
Special Prospecting Licence TSPL1/2563, covering the western part of the (“KSTP”) area, has now been granted to PAM by the DPIM. A second licence for the north and eastern part of the project area (TSPLA1/2562) is currently progressing through the application process and PAM expects to receive this licence before completion of the IPO.
The TSPL1/2563 licence area contains the Target 2 tungsten prospect, which PAM categorises as a high priority drill target based on PAM’s recent induced polarisation (“IP”) geophysics programme. Target 2 consists of a strong tungsten in soil anomaly with proximal tungsten mineralisation in laterite. Shallow air-core scout drilling has confirmed local tungsten mineralisation in bedrock confirming the high priority status. The licence area also contains several other tungsten prospects.
Subject to funding, PAM is currently preparing to drill at Target 2 with the aim of commencing drilling around the time of its IPO.
Further information on PAM
PAM is a private registered specialty metals exploration and development company focused on the exploration and development of specialty and base metal projects in South East Asia’s tin tungsten belt. PAM has four wholly owned projects: (“RKLP”); KSTP, (“BNLP”); and the (“MTP”). RKLP, KSTP and BNLP are located in southern , whilst MTP is located in the Lachlan Fold Belt, NSW, .
Metal Tiger currently holds 7,627,447 ordinary shares in PAM, representing 7.29% of PAM’s issued share capital.
For more information on PAM please visit their website .www.panasiametals.com
For further information on the Company, visit:www.metaltigerplc.com
Notes to Editors:
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.
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 (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.Equity Investments
is focused on the development of its key project interests in , where Metal Tiger has a growing interest in the large and highly prospective Kalahari copper/silver belt through its interest in .Project Investments
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.
- PAM initial public offering (“IPO”) prospectus lodged with the (“ASIC”), following in-principal approval received from the (“ASX”) on .
Australian Securities and Investment Commission Australian Securities Exchange 8 July 2020
- Indicative IPO timetable established, with anticipated listing date set for late .
- Metal Tiger intending to participate in the IPO offering.
- Special Prospecting Licence TSPL1/2563, for the , granted to PAM by (“DPIM”). Application TSPLA1/2562, is progressing and is currently expected to be awarded to PAM before completion of the IPO.
Khao Soon Tungsten Project Thailand Department of Primary Industry and Mines
(Chief Executive Officer)
(Chief Investment Officer)
Tel: +44 (0)20 7099 0738
Strand (Nominated Adviser)
Tel +44 (0)20 7409 3494
Arden Partners plc (Broker)
Tel: +44 (0)20 7614 5900
Camarco (Financial PR)
Tel: +44 (0)20 3757 4980
Quick facts: Metal Tiger PLC
Market Cap: £35.26 m
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