12th Mar 2020 09:44
12 March 2020
Metal Tiger plc
("Metal Tiger" or the "Company")
Acquisition of Sandfire Shares
Metal Tiger plc (AIM: MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, announces that the Company has acquired an additional 270,000 shares in Sandfire Resources Limited (“Sandfire”), at an average price of A$4.02866 per share, for an aggregate net investment of A$1,087,739.61 (£547,665). This brings Metal Tiger’s total shareholding in Sandfire to 6,566,990 shares, representing approximately 3.69 per cent. of Sandfire’s issued share capital.
As announced on 17 December 2019, 1,675,125 of the Sandfire shares the Company holds are subject to the equity derivative collar financing arrangement with a global investment bank.
For the financial year ended 30 June 2019, Sandfire reported net profits of A$104,013,000 and gross assets of A$735,850,000.
For further information on the Company, visit: www.metaltigerplc.com
Enquiries:
| Michael McNeilly | (Chief Executive Officer) | Tel: +44 (0)20 7099 0738 | |||
| Mark Potter | (Chief Investment Officer) | ||||
| Richard Tulloch James Dance Jack Botros | Strand Hanson Limited (Nominated Adviser) | Tel +44 (0)20 7409 3494 | |||
| Paul Shackleton Steve Douglas | Arden Partners plc (Broker) | Tel: +44 (0)20 7614 5900 | |||
| Gordon Poole James Crothers Monique Perks | Camarco (Financial PR) | Tel: +44 (0)20 3757 4980 |
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: Direct Equities and Direct Projects.
The Direct Equities Division invests in undervalued natural resource companies. The majority of its investments are listed on AIM, the TSX and the ASX, which includes its 3.69% interest in Sandfire Resources NL (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 in the Direct Projects Division.
The Direct Projects Division is focused on the development of its key project interests in Botswana, 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/20200312005302/en/
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Related Shares:
MTR.L