By HotStockRockets | Wednesday 28 June 2017
Disclosure: Financial Investigative Media Limited, which is not owned by Tom Winnifrith but by a trust for his dependants, owns shares in companies mentioned in this article. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Metal Tiger (MTR) has updated on exploration at the Logrosan Minerals joint venture in Spain – helping the shares currently slightly higher to 2.03p mid.
This is with CEO Michael McNeilly, “pleased to report the delineation of a new gold in soil anomaly in the Logrosan project. Extensive infill sampling and gold assay work has effectively served to merge the two El Seranillo gold targets into a single 5km long gold zone. The work undertaken during Q1 2017 has also delineated a new tungsten anomaly located 3km NE and along strike for the Tungsten Target 2 deposit RAB drilled during 2015”. The joint venture partner is now in the process of preparing a proposal and budget of possible future work for Metal Tiger to consider.
Since our last update, this also follows an update from Botswana exploration which included “five new copper anomalies have been outlined with further infill sampling currently progressing to help constrain targets for follow-up drill testing in due course” and a trial of the use of a high resolution airborne Electro-Magnetic survey technique with “the potential to greatly accelerate the rate of new target generation”.
However, as per our previous comments, we continue to look to near-term drilling and resource news from Botswana and progress towards a Thai asset spin-off on AIM by October to be real catalysts for the shares – and thus, despite the share price disappointment to-date here, currently retain as a BUY.
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