Metal Tiger criticises Kingsgate for making 'misleading' statements
Source - SMW
Mining investment group Metal Tiger said Kingsgate Consolidated had made misleading statements about the proposed new board for the latter business.
Metal Tiger has made an investment in Kingsgate and wants to put some of its directors on the board to help revive the business which owns a gold mine in Thailand closed down by the government in 2016.
Kingsgate said Metal Tiger had 'no credible operating plan' for its business 'and could make an agreement with the Thai government without any compensation'.
Metal Tiger responded by saying it would apply to get licences renewed and that it would seek to negotiate favourable terms with the Thai government relating to the restart of Kingsgate's Chatree mine which may include a compensation claim for loss of earnings.
Metal Tiger also commented on other statements made by Kingsgate including its potential plans for financing.