Announcement by Metal Tiger plc re. Thailand Gold Prospects
Paternoster is pleased to note the announcement by Metal Tiger plc ("Metal Tiger") that it has entered into a Joint Venture Agreement ("JVA") with Thailand-based South East Asia Exploration and Mining Company Limited ("SEAM") and Southeast Asia Mining Corp. - the parent company of SEAM. This formalises Metal Tiger's opportunity to progress and potentially control gold exploration targets in two of Thailand's gold regions. Subject to the Company triggering certain staged milestones over the next 20 months, Metal Tiger has the ability to acquire a 75% joint venture stake in the projects.
Nicholas Lee, Chairman commented:
"I am pleased that Metal Tiger has signed the Joint Venture Agreement. The company is now well placed to develop its presence in Southeast Asia. Along with the recent option over a license for tin, tungsten and gold in North West Spain, the company is making good progress in developing a number of natural resources assets."