Metal Tiger creates chief technical position

Strategic natural resource investor Metal Tiger announced the creation of a chief technical officer position on Monday, to “further build the management team”.

The AIM-traded firm had already announced a strategic and operational update confirming the appointment of a chief financial officer, company secretary, institutional liaison manager and office manager on 25 February.

All of the additional team members have been appointed on a flexible basis, the company confirmed, ensuring the fixed-cost commitments of the business remained controllable while also ensuring Metal Tiger maintains the professional resources to manage rapid growth.

Its board said it has identified a suitable candidate for the role, and is currently undertaking appropriate due diligence.

"Metal Tiger is progressing very rapidly with both Asset Trading and Metal Projects divisions performing very well,” said Metal Tiger CEO Paul Johnson.

“The level of growth we are experiencing is very positive however we are cognisant of the need to have the financial, managerial and technical resources in place to manage this growth effectively.”

Johnson said the appointment of a chief technical officer is a major step forward for the company, and marks the change from an early-stage resource investor to a more advanced investment house with diversified interests.

“The growth we anticipate is predominantly from our Metal Projects division and will be primarily from technical progress achieved through our joint venture operating partners' work on the ground.

“We need to prepare for this and the chief technical officer role will enable us to manage our Metal Project investments more closely and effectively,” Johnson explained.

He said Metal Tiger was continuing to drive forward at pace, and has been undertaking much work in the background that it anticipates will lead to further market announcements in the near term.

Its board believes that the progress achieved in negotiations and discussions fully justify the appointment of a chief technical officer, Johnson added.

“Prudence is always advisable and we would ask investors to note that there can be no certainty that commercial discussions will be successful unless contracts are signed and formally announced to market.”