Metal Tiger reports good progress in Thailand

Metal Tiger's interests in Thailand were progressing well, its board said in Wednesday, with new opportunities in the south east Asian nation also being identified.

The AIM-traded investor in natural resource opportunities said its Thailand team was now fully established, with operations proceeding well on original joint venture interests.

Due diligence on the acquisition of additional Thai interests from SEAM was also progressing well and was now in its final stages, Metal Tiger's board confirmed.

The ThaiStar geological team had conducted an extensive review of further new opportunities, it explained, and identified specific targets which had since undergone desktop assessment and field review.

Metal Tiger said final conclusions of that testing was yet to be made, pending a number of laboratory results.

The company's Thai joint venture partners had also undertaken preliminary appraisal of a number of lithium exploration opportunities.

"We are very pleased with the progress being made in Thailand, with the bedding down of our original investment and with the due diligence progress that has been made on the option to acquire 90% of the remainder of our original Joint Venture partner's interests in Thailand" said Metal Tiger chief executive Paul Johnson.

At 1557 GMT, shares in Metal Tiger were down 5%, to 0.86p.