New Venture Collaboration - Metal Tiger Australia

RNS Number : 8611O

Greatland Gold PLC

10 November 2016

 

10 November 2016

Greatland Gold plc

("Greatland" or "the Company")

New Venture Collaboration with Metal Tiger Australia

Greatland Gold plc (LON:GGP), the London Stock Exchange AIM listed precious and base metals exploration and development business is pleased to announce that it has signed a Memorandum of Understanding ("MoU") with Metal Tiger Australia Pty Limited ("MTA") regarding a collaboration on new ventures. 

Highlights

·     Greatland Gold and MTA have signed an MoU to explore and cooperate on new opportunities in the precious metals and strategic base metals sectors;

·     Greatland and MTA will explore project level joint venture and/or co-investment opportunities in the precious and base metal sectors globally, but with a primary focus on Australia and Asia;

·     Greatland and MTA will discuss the viability of establishing an ASX-listed vehicle primarily focused on Australian-based projects in these sectors;

·     The MoU is for an initial period of 12 months which can be extended if both parties agree.

Callum Baxter, Executive Director, commented: 'We are delighted to announced this MoU with Metal Tiger Australia regarding a collaboration on new ventures which we hope will provide Greatland with a significantly expanded set of attractive opportunities in the precious and strategic base metal sectors over the next few years.

While there has been a notable recovery in the mining sector during the course of 2016, Greatland maintains the view that the valuations on early stage exploration assets, particularly unlisted private assets, remain relatively depressed. We believe this collaboration with Metal Tiger Australia will dramatically enhance our ability to expand our portfolio of exciting Australian-based projects in the precious and strategic base metal sectors.'

New Venture Collaboration

Greatland Gold plc and MTA have signed a MoU to explore and cooperate on new opportunities in the precious metals and strategic base metals sectors. The MoU is for an intitial period of 12 months which can be extended if both parties agree.

The highlights of the MoU are as follows:

·     Greatland and MTA will explore project level joint venture and/or co-investment opportunities in the precious metals and strategic base metals sectors on a global basis, but with a primary focus on Australian and Asia;

·     Recognising the relative scale of both companies, MTA will proactively inform Greatland of early-stage exploration projects it considers to be attractive but that are too early stage for MTA. Moreover, Greatland will actively inform MTA of attractive exploration and development projects that Greatland believes are too large or too complex for Greatland to execute;

·     Greatland and MTA will work together to expand and solidify their network of industry contacts with a view to increasing new project lead generation; and

·     Greatland and MTA will discuss the viability of establishing an ASX-listed company that will focus primarily on Australian-based projects in the precious and strategic base metals sectors.

·     Both parties will work on a best efforts basis to collaborate on new ventures as outlined in terms above.

Enquiries:

Greatland Gold PLC

Callum Baxter/Gervaise Heddle

Tel [phone]

Email:  [e-mail]

www.greatlandgold.com

SPARK Advisory Partners Limited (Nominated Adviser)

Mark Brady/Sean Wyndham-Quin/James Keeshan

Tel [phone]

SI Capital Limited (Broker)

Nick Emerson / Andy Thacker

Tel  [phone]

Notes for Editors:

Greatland Gold plc is London listed (LON:GGP) natural resource exploration and development company with a current focus on gold and nickel exploration projects.  

The Company has five main projects; three situated in Western Australia and two in Tasmania.  All projects are 100% owned by Greatland or Greatland has the right to take 100% ownership.  

Greatland is seeking to identify large mineral deposits in areas  that have not been subject to extensive exploration previously.  It is widely recognised that the next generation of large deposits will come from such under-explored areas and Greatland is applying advanced exploration techniques to investigate a number of carefully selected targets within its focused licence portfolio.

The Company is also actively investigating a range of new opportunities in precious and strategic metals and will update the market on new opportunities as and when appropriate.

Note: This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.

 

END

 

 

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