Metal Tiger PLC Posting of Annual Report (6744U)

TIDMMTR

RNS Number : 6744U

Metal Tiger PLC

29 March 2023

29 March 2023

Metal Tiger plc

("Metal Tiger" the "Company" or the "Group")

Audited results for the year ended 31 December 2022

Posting of Annual Report

Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed investor in natural resources opportunities, is pleased to announce its audited results for the year ended 31 December 2022. There has been no change to the financial results as released to the market on 28 February 2023.

A complete version of the Annual Report and Accounts can be found here:http://www.rns-pdf.londonstockexchange.com/rns/6744U_1-2023-3-29.pdf, and on the Company website: https://www.metaltigerplc.com/investors/financial-reports-accounts . Copies of the abovementioned document will be posted in accordance with the timetable below.

Highlights:

-- Registration of the Company as a small UK AIFM ("AIFM") under the Alternative Investment Fund Managers Regulations 2013 ("AIFMR").

-- Completed the sale of its remaining 49% interest in Kalahari Metals to Cobre thereby exiting projects division.

-- Equity Investments division reported a loss of GBP5.1m (before administration and interest costs), primarily driven by overall market conditions during the year and more specifically the decrease in value of the Company's investments in Sandfire together with the decreased dividend earned from Sandfire of GBP146,000 (2021: GBP1,538,000).

-- No incremental revaluation of the royalty over 2% net smelter return ("NSR") over circa 8,000km(2) of Sandfire's exploration tenements and in-particular the licence that holds the A4 project, which was a material contributor to the previous results of the Company (2021: GBP5,214,000)

-- The Company replaced its Margin Lending Facility with SC Lowy with an increased new A$15m Margin Lending Facility from a fund under the same Lender, allowing the Company to follow its rights in Sandfire's placement and enabling further acquisitions in Sandfire when deemed opportunistic.

   --   Net current assets at the year end of GBP19.2m (2021: GBP24.1m). 
   --     Loss for the year before taxation of GBP6.7m (2021: profit of GBP4.2m). 

Post Period:

-- Approval by the shareholders at a General Meeting on 20 March 2023 of a new investment policy.

-- Announced the cancellation of its admission to the AIM market, effective 31 March 2023, with the last day of trading of shares on the AIM market being the 30 March 2023.

-- Announced intention to change the name of the Company to Strata Investment Holdings shortly following the AIM Cancellation.

-- The Company has committed to subscribe to 6,666,667 Shares in Cobre at a placement issue price of A$0.15 per share, subject to Cobre shareholder approval. The meeting of the Cobre shareholders took place on the 24 March 2023, with the sought authority being approved; settlement of the subscription is due to take place imminently.

-- The Company reduced its net investment in Sandfire in the SC Lowy structure by 532,626 shares, realizing GBP1.8m.

Expected Timetable of Principal Events

 
 Posting of Annual report   on or around 28 April 2022 
 Notice of the AGM          To be advised at a later date 
 
 
 
 

Qualified Person's Statement

The technical information contained in this announcement has been read and approved by Mr Nick O'Reilly (MSc, DIC, MAusIMM, MIMMM,FGS), who is a qualified geologist and acts as the Qualified Person under the AIM Rules Note for Mining and Oil & Gas Companies. Mr O'Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Metal Tiger plc to provide technical support

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

Enquiries:

Enquiries:

 
Michael McNeilly            (Chief Executive Officer)         Tel: [phone] 
 
 
James Dance                 Strand Hanson Limited (Nominated  Tel [phone] 
 Richard Johnson             Adviser) 
 Robert Collins 
 
Simon Johnson               Zeus Capital Limited (Broker)     Tel: [phone] 
 Alexandra Campbell-Harris 
 
Gordon Poole                Camarco (Financial PR)            Tel: [phone] 
 Elfie Kent 
 Rebecca Waterworth 
 
 
Jessica Holland  Tau Media (Financial PR)  Tel: +61 (0) 408 
                                            855 855 
 

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

ACSUKRNROKUOUAR

(END) Dow Jones Newswires

March 29, 2023 12:15 ET (16:15 GMT)