Metal Tiger Share Discussion Threads

[charaxes1] 23/12/2019 14:31

Depends what the share price of all the under lying quoted and unquoted investments is!

[dekle] 23/12/2019 14:11

What's their NAV going to be after they spent £500K of the assets?

[uknighted] 23/12/2019 10:01

Maybe there were co. buys, they have still to RNS them.

[owenga] 23/12/2019 09:41

Surprised no company buys on Friday given the volume.

[lazygun] 21/12/2019 15:46

Despite my personal misgivings on the mod/sfr deal ( I still think it was given to sandfire way too cheaply), overall, I think the Mtr board are a very shrewd bunch.

Shame more aim resource companies aren’t run like this....

L.

[lazygun] 21/12/2019 15:44

The theory is that it ought to cause an improvement in the share price.

You know there’s a market for buying the shares as the company has committed to doing so.

Therefore, if you also buy shares, that starts to create buying momentum in the shares. Supply and demand. Supply starts to dry up because of the buyback, combined with an uptick in demand. That# the theory at least...

I liked the last comment that MM made in his recent interview.. something along the lines of if it doesn’t lead to an uplift in the sp, we’ll just keep buying them.

Sounds to me like the Mtr board would be happy to buy back a whole lot more shares than what they’ve committed to so far.,.

I don’t think there’s any other company on the market as a whole who are in the strong financial position to do this, save for some of the big ftse 100 companies...

L.

[supercity] 20/12/2019 16:34

It should do as it will enable any large holders to offload in an orderly market after which they hope the share price will start its rise again.

[uknighted] 20/12/2019 15:25

dekle I think you have the answer in today’s share price performance.

[dekle] 20/12/2019 08:28

Will the buy back result in a higher share price? It's just that I'm sceptical

[supercity] 20/12/2019 07:09

And the buyback begins!!!

[uknighted] 17/12/2019 08:23

RNS - completion of financing arrangement.

[uknighted] 16/12/2019 22:18

RNS Metal Tiger plc Pan Asia Metals - Corporate and Exploration Update

[livewireplus] 06/12/2019 10:32

Indeed. Presently MTR have 7.35m shares. They are subscribing for 10m more. Then if they go for the extra 2m then that gives a total of 19.35m - that is 17.58 for post offer dilution ( - the 19.99% figure I mentioned earlier undiluted percentage of shares post offer)....

[lazygun] 06/12/2019 10:21

Think I’ve worked it out now.

Initial consideration was 6,600,000 shares for $500280 aussie.

They were then given another 750,000 shares for $1 aussie, so total 7,350,000 shares for $500281 aussie.

They’re going to potentially invest further, to get up to circa 19.99% of total shares.

Prospectus shows circa 97 million shares on admission, so Mtr could subscribe for up to 19,400,000 shares (approx).

So, take 7,350,000 from th3 19,400,000 circa figure, gives 12,050,000 circa shares that Mtr could take up, at a cost of $2,410,000 aussie, circa total cost of circa $2,910,281.

This would mean their total investment would cost them around ($2,910,281/19,400,000) - 15 cents per share, vs an offer price of 20 cents per share....

Still pretty good discount, and potentially a great investment for MTR.. nearly an immediate book value gain of around $969,000 aussie....

L.

[livewireplus] 06/12/2019 10:20

There is no 'instant double profit' for MTR. Total subscription is for 50m shares - but they are in addition to 46.81m existing ones....

[livewireplus] 06/12/2019 10:11

Minimum subscription for MTR is $2m which gives them 17.92% of company. They have choice of subscribing for up to $400k more - so if they did go for all the extra then $2.4m gets them 19.99% of company.The prospectus is an interesting read and goes in to financial, structure, and geological details...

[lazygun] 06/12/2019 09:56

So, that offer doc suggests circa 97 million shares in issue upon admission. At the start of the doc, it says Mtr will hold between circa 17%-19% of shares on issue at admission, for a minimum of $2 million .

Question is , does that mean Mtr will have around 19 million shares for a cost of $2 million? If so, based on the offer price, that would mean the value of their investment would be almost double Mtr’s cost upon admission. That would be a great return right from the outset if these numbers are correct...

L.

[geoffsh] 06/12/2019 09:37

hxxp://www.cobre.com.au/wp-content/uploads/2019/12/Cobre_Prospectus_06Dec19.pdf

Coming on to the market 15th January.

This could potentially be huge for Metal Tiger.

[oakville] 22/11/2019 08:58

People will wake up to the Tiger soon...……;….

[oakville] 21/11/2019 07:57

Perrinvale Project

Cobre Pty Ltd (Cobre) is the 80% owner of Toucan Gold Pty Ltd (Toucan) which holds a group of tenements (Perrinvale Project) covering 382km2 of the Panhandle and Illaara Greenstone Belts in Western Australia. The ex-Fortescue Metals Group (ASX:FMG.AX - News) Perrinvale Project includes three prospects called Schwabe, Zinc Lago and Ponchiera (see figure 5 in link below) which FMG retains a 2% royalty on future copper production. The project area is located around Lake Barlee, which is NW of Menzies and Kalgoorlie, and directly adjacent to the Goldfields Highway. The exploration was initially focused on known gold mineralisation in the area. However, a detailed review of historic work and ground reconnaissance suggested that part of the project area was highly prospective for base metals as well. Under the acquisition terms, Cobre provided funds to Toucan to undertake the initial ground EM geophysical surveys and preliminary RC drilling in exchange for 80% of Toucan and 20% of Cobre's equity.

Ground EM survey

Base metal potential in the Lake Barlee area was first recognised in the early 1970s, but appears to have been overlooked by subsequent explorers. At that time, ground magnetics and early IP technology were the geophysical tools applied. Today, EM survey technology is considered the primary geophysical tool used for VMS exploration.

[oakville] 20/11/2019 09:18

Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, is pleased to provide an update on its investment in Cobre Pty Ltd ("Cobre"). In light of positive pre-marketing by Cobre, Metal Tiger has entered into a side letter with Cobre (the "Side Letter"), varying the terms of its subscription agreement dated 2 September 2019 (the "Subscription Agreement"), in order to allow Cobre to increase the size of its offering and raise A$10m as part of its proposed IPO on the Australian Stock Exchange ("ASX") (the "Cobre IPO").

Under the terms of the Side Letter, Metal Tiger will be issued with an additional 750,000 fully paid new ordinary shares in Cobre ("Cobre Shares") for a nominal subscription price of, in aggregate, A$1 within five business days (the "Additional Pre-IPO Shares"), in order to compensate the Company for the dilutive effects of the increased fundraise.

The issue of the Additional Pre-IPO Shares will increase Metal Tiger's aggregate pre-IPO shareholding to 7,350,000 Cobre Shares, representing approximately 15.7% of Cobre's then issued share capital. Cobre has agreed to fully indemnify Metal Tiger for any tax charges (or other tax) that Metal Tiger incurs on the disposal of the Additional Pre-IPO Shares up to a capped aggregate amount of A$30,000.

All other terms of the Subscription Agreement remain in place as previously announced on 2 September 2019. Under the Subscription Agreement, Metal Tiger has agreed to invest a minimum of A$2m at A$0.20 per share in the Cobre IPO which, assuming an increased fundraise of A$10m, will result in Metal Tiger's holding in Cobre increasing to 17.9% on Cobre's admission to trading on the ASX ("Admission"). In addition, Metal Tiger has the right to subscribe for additional shares under the Cobre IPO in its sole discretion, provided that its shareholding on Admission does not exceed 19.99% and Metal Tiger will forfeit its pre-IPO shares in Cobre (including the Additional Pre-IPO Shares) if it does not invest at least A$2m in the Cobre IPO. It is the current intention of the Board to invest the full A$2.4m in the Cobre IPO to go to 19.99%. Michael McNeilly has also been appointed as a director to the Cobre Board.

Update on Cobre IPO

Cobre currently expects that the prospectus for its IPO will be finalised and lodged with the Australian Securities and Investments Commission in early December 2019, with the offer period to open around mid-December 2019. Cobre further expects that the IPO will close in early January 2020, with Admission shortly thereafter. These timeframes are indicative only at this stage and may be subject to change without notice.

Michael McNeilly, Chief Executive Officer of Metal Tiger, commented:

"The Board is very pleased with the speed at which the team and advisers of Cobre have worked to progress the planned IPO on the ASX following our initial investment in September. The Board is delighted to be able to assist Cobre as it seeks to attract further investment and to ensure that there is adequate allocation for other investors to enable Cobre to take more capital if needed, and to accommodate the expected high demand for the Cobre IPO."

[uknighted] 20/11/2019 08:55

RNS - Update on Cobre Investment.

[supercity] 17/11/2019 21:00

I would guess they will use a chunk of the dividend to start the buyback