- Oops!Something went wrong.Please try again later.
LONDON, November 24, 2021--(BUSINESS WIRE)--
Metal Tiger plc
("Metal Tiger" or the "Company")
Sandfire Shareholding Update
Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed investor in natural resources opportunities, announces that, further to its announcement of 5 October 2021, it has disposed of, in aggregate, 250,000 shares in Sandfire Resources Limited ("Sandfire") ("Sandfire Shares") at an average price of A$6.13 per Sandfire share.
Following these disposals, Metal Tiger is interested in 8,212,057 Sandfire Shares representing approximately 2.0% of Sandfire’s issued share capital. As previously announced, 2,842,667 of the Sandfire Shares held by the Company are subject to an equity derivative financing arrangement with a global investment bank.
For the year ended 30 June 2021, Sandfire reported net profit of A$170,082,000. As at 30 June 2021, Sandfire reported net assets of A$910,576,000.
For further information on the Company, visit www.metaltigerplc.com:
(Chief Executive Officer)
Tel: +44 (0)20 3287 5349
(Chief Investment Officer)
Strand Hanson Limited (Nominated Adviser)
Tel +44 (0)20 7409 3494
Arden Partners plc (Broker)
Tel: +44 (0)20 7614 5900
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") and the ASX Market of the Australian Securities Exchange Market ("ASX") 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/20211124005940/en/
Metal Tiger plc