Metal Tiger notes Southern Gold deal with drilling company

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Metal Tiger PLC (LON:MTR) has noted that Southern Gold Ltd, a company in it owns an approximate 17.1% equity interest has published an update with regard to it entering into a strategic partnership agreement with Ausino Drilling Services Pty Ltd in support of the delivery of mineral exploration drilling services in South Korea.

Highlights of Southern Gold’s announcement include a legal agreement executed to support the provision of drilling services on the company’s South Korean assets to the value of US$4.4mln and the issue of A$1.1mln worth of Southern Gold shares as incentives to meet certain targets.

Metal Tiger’s shares were up just over 4%, after it also released news about two other investee companies, Cobre Ltd and Kalahari Minerals.

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