METAL TIGER PLC: Pro-rata participation in Cobre Limited's A$7 million fundraising

TIDMMTR 
 
 

4 August 2022

Metal Tiger plc

("Metal Tiger" or the "Company")

Pro-rata participation in Cobre Limited's A$7 million fundraising

Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed investor in natural resource opportunities, is pleased to note that it has invested A$1,471,211.40 for 9,808,076 new ordinary shares in Cobre Limited ("Cobre") at a price of A$15c per share to maintain its pro-rata holding in Cobre Limited's A$7m fundraise.

Following completion of the fundraise Metal Tiger will hold 44,572,172 ordinary shares in Cobre representing approximately 21% of Cobre's issued share capital. Metal Tiger's investment will be subject to Cobre shareholder approval at an upcoming general meeting.

A link to Cobre's announcement, released today, is set out below:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02549854-2A1388936?access_token=83ff96335c2d45a094df02a206a39ff4

Metal Tiger is currently interested in 34,764,096 Cobre shares, representing approximately 21% of Cobre's issued share capital.

For the half-year ended 31 December 2021, Cobre had a net loss of A$3,650,299 and net assets of A$14,845,170.

For further information on the Company, visit: https://www.metaltigerplc.com/

Enquiries:

 
Michael McNeilly     (Chief Executive Officer)        Tel: [phone] 
Mark Potter          (Chief Investment Officer) 
James Dance          Strand Hanson Limited            Tel [phone] 
 James Harris        (Nominated Adviser) 
 Robert Collins 
Simon Johnson        Arden Partners plc (Broker)      Tel: [phone] 
 Steve Douglas 
Gordon Poole         Camarco (Financial PR)           Tel: [phone] 
 James Crothers 
 Rebecca Waterworth 
 

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/20220804005540/en/

 
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Metal Tiger plc

 
    SOURCE: Metal Tiger plc 
Copyright Business Wire 2022 
 

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August 04, 2022 05:39 ET (09:39 GMT)