MTR Metal Tiger Plc

TIDMMTR 
 

Metal Tiger plc

("Metal Tiger" or the "Company")

Sandfire Shareholding Update

Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, announces that, following its announcement of 12 March 2020, it has acquired, in aggregate, 100,000 shares in Sandfire Resources Limited ("Sandfire") ("Sandfire Shares"), at an average price of A$3.06 per share and has disposed of, in aggregate, 340,000 Sandfire Shares at an average price of A$4.14 per share.

Following these trades, Metal Tiger's resulting shareholding in Sandfire is now 6,326,990 Sandfire Shares, representing approximately 3.55 per cent. of Sandfire's issued share capital.

As announced on 20 May 2020, 2,003,923 of the Sandfire Shares the Company holds are subject to equity derivative collar financing arrangements with a global investment bank.

For the financial year ended 30 June 2019, Sandfire reported net profit of A$104,013,000. As at 31 December 2019, Sandfire reported gross assets of A$886,837,000.

This announcement contains inside information for the purposes of the market abuse regulation (EU No. 596/2014) ("MAR").

For further information on the Company, visit: www.metaltigerplc.com:

 
Michael McNeilly    (Chief Executive Officer)         Tel: +44 (0)20 7099 0738 
Mark Potter         (Chief Investment Officer) 
 
Richard Tulloch    Strand Hanson Limited (Nominated  Tel +44 (0)20 7409 3494 
  James Dance     Adviser) 
 
  Jack Botros 
 
Paul Shackleton    Arden Partners plc (Broker)       Tel: +44 (0)20 7614 5900 
  Steve Douglas 
 
Gordon Poole       Camarco (Financial PR)            Tel: +44 (0)20 3757 4980 
  James Crothers 
 
  Hugo Liddy 
 

Notes to Editors:

Metal Tiger plc is admitted to the AIM market of the London Stock Exchange AIM Market ("AIM") with the trading code MTR and invests in high potential mineral projects with a base, precious and strategic metals focus.

The Company's target is to deliver a high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector. Metal Tiger has two investment divisions: Equity Investments and Project Investments.

Equity Investments invests in undervalued natural resource companies. The majority of its investments are listed on AIM, the TSX and the ASX, which includes its interest in Sandfire Resources Limited (ASX: SFR). The Company also considers selective opportunities to invest in private natural resource companies, typically where there is an identifiable path to IPO. Through the trading of equities and warrants, Metal Tiger seeks to generate cash for investment for the Project Investments division.

Project Investments is focused on the development of its key project interests in Botswana, where Metal Tiger has a growing interest in the large and highly prospective Kalahari copper/silver belt through its interest in Kalahari Metals Limited.

The Company actively assesses new investment opportunities on an on-going basis and has access to a diverse pipeline of new opportunities in the natural resources and mining sectors. For pipeline opportunities deemed sufficiently attractive, Metal Tiger may invest in the project or entity by buying publicly listed shares, by financing privately and/or by entering into a joint venture.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200604005347/en/

 
    CONTACT: 

Metal Tiger plc

 
    SOURCE: Metal Tiger plc 
Copyright Business Wire 2020 
 

(END) Dow Jones Newswires

June 04, 2020 06:49 ET (10:49 GMT)

Grafico Azioni Metal Tiger (LSE:MTR)
Storico
Da Mar 2024 a Apr 2024

Grafico Azioni Metal Tiger (LSE:MTR)
Storico
Da Apr 2023 a Apr 2024