MTR Metal Tiger Plc

TIDMMTR 
 
 

Metal Tiger Plc

("Metal Tiger" or the "Company")

Sandfire Resources Update (ASX:SFR)

Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to provide an update in relation to its investment in Sandfire Resources Limited ("Sandfire"). Sandfire has today announced its interim dividend and released its December 2020 Half Year Financial Results.

Metal Tiger is currently interested in 6,296,990 Sandfire shares representing approximately 3.5% of Sandfire's issued share capital. As announced on 31 July 2020, 2,842,667 of the Sandfire shares held by the Company are subject to an equity derivative financing arrangement with a global investment bank. Sandfire has announced an A$0.08 dividend which goes ex-div on Tuesday March 2(nd) 2021. Assuming Metal Tiger maintains its holding in Sandfire as at the ex-div will receive a dividend of A$276,345 (circa GBP155,000) on the shares not subject to the equity derivative financing arrangement. The dividend received on the shares subject to the equity derivative financing arrangement will lower the outstanding loan balance by A$227,413.

Links to Sandfire's announcements relating to the dividend, half year financial results and associated presentation and can be found below:

Dividend/Distribution - SFR

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02346065-6A1021851?access_token=83ff96335c2d45a094df02a206a39ff4

December 2020 Half Year Financial Report and Appendix 4D:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02346059-6A1021845?access_token=83ff96335c2d45a094df02a206a39ff4

December 2020 Half Year Financial Results Announcement:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02346061-6A1021846?access_token=83ff96335c2d45a094df02a206a39ff4

December 2020 Half Year Results Presentation:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02346063-6A1021848?access_token=83ff96335c2d45a094df02a206a39ff4

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

Enquiries:

 
Michael McNeilly     (Chief Executive Officer)        Tel: +44 (0)20 7099 0738 
 Mark Potter          (Chief Investment Officer) 
James Dance          Strand Hanson Limited            Tel +44 (0)20 7409 3494 
 Jack Botros         (Nominated Adviser) 
 Georgia Langoulant 
Paul Shackleton      Arden Partners plc (Broker)      Tel: +44 (0)20 7614 5900 
 Steve Douglas 
Gordon Poole         Camarco (Financial PR)           Tel: +44 (0)20 3757 4980 
 James Crothers 
 Hugo Liddy 
 

Notes to Editors:

Metal Tiger PLC is admitted to the AIM market of the London Stock Exchange AIM Market ("AIM") 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/20210225005404/en/

 
    CONTACT: 

Metal Tiger plc

 
    SOURCE: Metal Tiger plc 
Copyright Business Wire 2021 
 

(END) Dow Jones Newswires

February 25, 2021 04:26 ET (09:26 GMT)

Metal Tiger (LSE:MTR)
Historical Stock Chart
From Mar 2024 to Apr 2024

Metal Tiger (LSE:MTR)
Historical Stock Chart
From Apr 2023 to Apr 2024