Metal Tiger Share Discussion Threads

[uknighted] 04/12/2020 10:16

Could this be the reason for selling Thor?

Investment in Marimaca Copper Corp (TSXV:MARI)


Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to announce that it has subscribed for 141,956 units in Marimaca Copper Corp ("Marimaca"), at a price of C$3.15 per unit, for a total investment of C$447,161 (approximately GBP257,000) as part of Marimaca's C$28.98 million equity financing which was announced as having closed on 3 December 2020 (the "Fundraise"). Each unit consists of one common share in Marimaca and one-half of one common share purchase warrant (each whole warrant, a "Warrant") exercisable at a price of C$4.10 for a period of 24 months following the closing date of the Fundraise (being 3 December 2020). Accordingly, Metal Tiger now holds, in aggregate, 146,956 shares in Marimaca, representing approximately 0.2% of Marimaca's issued share capital and 70,978 Warrants.


Marimaca is a TSXV quoted copper exploration company focused on exploring and developing new sources of copper. Their flagship project is the Marimaca Copper Project in Chile's Antofogasta Region. Marimaca recently announced the results of a Preliminary Economic Assessment for the Marimaca Copper Project which showed a US$640 million post-tax NPV(8) (real) assuming a US$3.45/lb flat long-term copper price, with a post-tax IRR of 38.0%. In addition, Marimaca recently received approval for the construction of up to 365 drill pads over the next three years encompassing 3,800 hectares of highly prospective exploration ground. The company is expected to drill first targets in early Q1 2021.


For the nine months ending 30 September 2020, Marimaca reported a net income of approximately US$4.9 million and, as at 30 September 2020, reported net assets of approximately US$37.9 million.

[uknighted] 03/12/2020 07:51

Metal Tiger have reduced their holding in Thor Mining from 6% to 4.9%. RNS today.

[owenga] 02/12/2020 18:59

Sandfire shares went up another 12% last night.

[dreamtwister] 01/12/2020 20:11

courtesy chris parrish

[red5] 01/12/2020 12:43

thanks chaps i will add more to this then

[grantstevens] 01/12/2020 12:35

Red5
It’s has quite wide implications
1) Our NSR 2% uncapped now has an initial value that will increase. The results not included in the MRE are amazing to will add to contained Cu
2) It means our capped royalty at T3 is more likely to come to fruition
3) it means our SFR holding has gone up in value. The worry of the gap between Degrussa and next Cu production has somewhat abated, especially since the contract to build has been awarded has KPI for acceleration
4) it has read across for our kalahari metals and cobre - a mine will be built, and geological understanding is now better.this could be seen in the 20%+ increase in MTR CBE holding last night.

[owenga] 01/12/2020 12:16

Huge royalty revenues, particularly as A4 resource will continue to increase and another 8000sq kms to evaluate, such as A1 which is next target.

[red5] 01/12/2020 11:47

so what does this all mean ?

[someuwin] 01/12/2020 10:36

Getting very interesting here now.

[owenga] 01/12/2020 10:04

Sandfire also up more than 8% last night. Agree, dreamtwister, it was a great presentation. Surprised we have not had any RNS from MTR directing us to the Sandfire announcement.

[dreamtwister] 01/12/2020 09:59

excellent presentation from sandfire/01/12/2020



above links courtesy of chris parrish

[catsick] 01/12/2020 06:59

With these bonanza grades in T4 its going to make a lot of sense to hit t4 hard first and start the ball rolling with the high grades and then dig the larger original pit, will improve the irr of the whole project a lot to do it in that order, also will mean a fire hose of royalty payments to mtr

[grantstevens] 30/11/2020 23:09

I am 100% confident it will be. I just wasn’t sure how much would be included in this baseline MRE. Folks have to see that this will just grow.

[owenga] 30/11/2020 22:52

Thanks Grant, given better grades at A4, it is quite possible total resource will become bigger than T3! Lots more drill results and new drills to factor in yet.

[grantstevens] 30/11/2020 22:34

Inferred is the lowest confidence but it’s only on 99 holes and sounds like only 20 ish holes to go before upgraded.
The thing about the MRE is that is is just the initial grid and doesn’t include any of those bonanza grades announced in the other RNS.
So we have the baseline but what isn’t include is those bonanza grades within the grid, the wider expansion drilling we have seen on Sat images nor the underground so the only way is up

[owenga] 30/11/2020 22:16

Maiden resource out for A4. 100kt copper inferred. 6.5Mt tonnes. Larger inferred than T3. Still lots of drill results awaited and more drills to increase resource. Nothing indicated yet? Which is better indicated or inferred?

[dreamtwister] 30/11/2020 10:23

sau.....pro-active.....update

[grantstevens] 27/11/2020 13:06

Kaos. This were some calcs I made on NSR that I posted. This was quite a few months ago with less holes than the grid will have

So let’s assume the A4 deposit is the same size as T3. Currently Argonaut note say just on holes we have so far it looks 180kt contained Cu. From EM and new zone found however, and the fact we are dealing with higher grade Cu just the A4 area looks like it will be 2-3x bigger than T3.
T3 conservative reserves ( not inferred resources ) are about 350kt of contained Cu. That will change if SFR has been upgrading resource in time to review the DFS.
So let’s say 7000USD/t for the Cu and silver blend
350kt * 7000 = 2,450,000,000 usd
5% discount
2% NSR
USD 46,550,000 to MTR on equivalent to T3 resource.
Multiples as bigger.
Now there are some costs that have to come off for the final NSR figure- transportation, insurance etc but you get the general picture.

[grantstevens] 27/11/2020 13:02

Yes a baseline for NSR (via the initial MRE) next week; I would imagine based on the 50x50m grid. This will become obsolete pretty fast if any further finds beyond or under the grid.

[uknighted] 27/11/2020 11:41

Another RNS. Sandfire update.

[kaos3] 27/11/2020 11:35

thank you owenga - but anyway - are NPV and NSR close enough figures for our rough net royalty calc?

[owenga] 27/11/2020 11:24

We are limited to $2m on T3 Kaos3. Unlimited for rest of area including A4. That's why we are waiting for A4 maiden resource.

[owenga] 27/11/2020 11:23

Not long now, once we can calculate a sensible royalty valuation MTR should re rate. Really should push it into the 30s.

[grantstevens] 27/11/2020 10:55

Yes next week as per SFR AGM and also t3 DFS next week