Perth, Western Australia: As previously announced, Tiger Resources Limited (ASX: TGS) (“Tiger” or the “Company”) had entered into a Share Purchase Agreement (“SPA”) and Royalty Deed (“Royalty Deed”) with Sinomine Fuhai (Hong Kong) Overseas Resource Investment Co., Ltd. (“Sinomine HK”) for the sale of 100% of its shares in Tiger’s subsidiaries (“Transaction”).
The SPA termination date was 30 June 2018 but was extended by mutual agreement between the parties to allow final negotiations to complete. Terms acceptable to Tiger were not achieved and the Company subsequently issued a Notice of Termination of the SPA to Sinomine HK.
Whilst the Company has been negotiating with Sinomine HK it has also been working on a new Life of Mine Plan (LOMP) for its Kipoi copper assets, which is expected to be completed within the next 6-8 weeks. The Company will update Shareholders on the LOMP results as soon as this study is completed.
The Company will also update its shareholders on its operations in the Quarterly report to be released on or before 31 July 2018.