23rd Mar 2015 08:28
LONDON (Alliance News) - Metal Tiger PLC saw its shares rise early Monday after it said it has now implemented its divisional restructuring and is in the position to self-finance its activities.
In a statement, the company said its two new investment divisions, Direct Equities and Direct Projects, and now embedded and fully operational. It had said in Late January it was to create the new structure as part of an updated strategic approach.
It said realised and unrealised gains on the Direct Equities investment portfolio were over GBP800,000 in the fourth quarter of 2014 and the first quarter of 2015 to date.
"Metal Tiger's Direct Equities investment division has already delivered a substantial financial return to the company, fast-tracking the company's current ability to self-finance its activities. Metal Tiger's Direct Projects investment division now has exposure to predominantly Gold, but also Tungsten, Copper, Antinomy and Uranium with active operations in Spain, Thailand and Tanzania plus working collaborations for additional Gold, Copper and Platinum-focused opportunities in Russia and Turkey," Chief Executive Cameron Parry said in a statement.
The Direct Equities investment division is designed to generate short, medium and long term returns, with cash generated invested into the Direct Projects investment division to advance mineral opportunities that can create medium and long term capital value and potentially income distribution from producing assets.
Its shares were up 14.7% at 0.688 pence early Monday, one of the best-performing stocks on the AIM All-Share index.
By Steve McGrath; [email protected]; @stevemcgrath1
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