METAL TIGER PLC: Sandfire Disposal and Margin Lending Facility Update

TIDMMTR 
 
 

12 January 2023

Metal Tiger plc

("Metal Tiger" or the "Company")

Sandfire Disposal and Margin Lending Facility Update

Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed investor in natural resources opportunities, is pleased to announce that it has sold 200,000 Sandfire Shares at an average price of A$6.105 per share raising gross proceeds of approximately A$1.221m. Of the net sale proceeds, A$337k will be applied to reducing the outstanding loan balance on the new A$15m Margin Lending and Drawdown Facility (the "Facility") with a sub-fund of SC Lowy SI II (SG) VCC, announced on 14 December 2022, with the balance of A$877k proceeds to be used for working capital and other investment opportunities.

Following the above disposal, Metal Tiger has 4,562,626 Sandfire Shares within the Facility against an outstanding loan balance of A$7.579m, and Metal Tiger will be interested in 5,730,168 Sandfire Shares, representing approximately 1.25% of Sandfire's issued share capital. 1,167,542 Sandfire Shares will be secured under the equity derivative financing arrangement with a global investment bank.

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

Enquiries:

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

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.

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/20230112005472/en/

 
    CONTACT: 

Metal Tiger plc

 
    SOURCE: Metal Tiger plc 
Copyright Business Wire 2023 
 

(END) Dow Jones Newswires

January 12, 2023 07:09 ET (12:09 GMT)