Metal Tiger said it had postponed an IPO of its Thai joint venture containing two lead-zinc-silver mines, Song Toh and Boh Yai, until further notice.
Following talks with local politicians, the company said the consideration of the project by regulators was expected to occur in March, though it could give no guarantees on the exact timing of consideration or approval.
'The company believes it prudent to postpone the timing of the proposed IPO until further clarity is gained,' Metal Tiger said.
Metal Tiger said it had undertaken an operational review and implemented a cost-cutting program to reduce ongoing monthly spending.
Furthermore, it halted all capital-intensive programs needed to bolster submissions for the permitting process, such as the commencement of a water monitoring program until further notice.
At 1:18pm: (LON:MTR) Metal Tiger Plc Ord 0.01p share price was -0.23p at 1.98p