MetalNRG says Lake Victoria Gold acquisition bid 'ticks all of the boxes'

MetalNRG PLC's (LON:MNRG) Rolf Gerritsen talks to Proactive London's Katie Pilbeam about the agreement to acquire an unlisted Australian gold miner that owns a mining licence in Tanzania that is said to be 12 months away from first production.

Gerritsen explains that MetalNRG plan to place up to £5m after entering into a bid implementation agreement for the acquisition of Lake Victoria Gold Ltd (LVG).

He explains their strategy to continue with acquiring 'under valued assets' and exceptional management, in this case, LVG has been working in Tanzania for eight years.

And this asset offers ' additional upside potential'. Gerritsen sends a message to investors 'concerned about dilution' and says 'the cake is much bigger' and that the 'value of the shares will substantially increase'.

Quick facts: MetalNRG

Price: 0.85 GBX

Market: LSE
Market Cap: £3.16 m

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