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KA not many heads left that can roll! A total of 4 full time employees now left and that includes the CEO and the CFO! As you say a good start. Two directors will go by the first quarter with a saving of around £250k. That leaves two non executive directors and one executive director. A much more slimmed down board.
The SP performance has been abysmal. Change is required and this is the first step along the way. More heads needs to roll until we get this right.
The share price says it all for me.....change required.
Directorate Change
Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed investor in natural resources opportunities, notes that Mark Potter has notified the Board that he will step down as Chief Investment Officer and as an Executive Director of the Company in March 2023 to focus on other professional commitments.
Charles Hall, Non-Executive Chairman, commented:
"On behalf of the Board, I would like to thank Mark for his significant contribution to Metal Tiger. Mark has been a valuable member of the Board and Executive team and we all wish him the very best for the future."
I don't understand the info re deals on ASX. What are the figures below the ones you mention-the ones under the headings of "buyers" and "sellers"?
Look @ The Bid Price ….14 Cents …..17 Shares Traded ….
is 36c which is about 20p. I still don't understand the ASX/AIM difference.
Sandfire to consider EOI for DeGrussa Copper Operations
https://t.co/qUEApXxTju
SFR 5.67 up 4.81%
On the bright side if they sell 1.5 mil sandfire that would clear all debt
the balance of sandfire is worth about 16 mil stg
cobre about 3.5 mil stg and the nsr getting closer vs a mkt cap of 19mil
What a cash draining c*ck up this margin facility has been!! These guys really solidify their position as the worse capital allocators in history!!
The share price that keeps on taking, doesnt matter how or who ramps it, fact it, this share price was 24.5p after consolidation and now we are at 11.5p---- 13pence per share drop
13 PENCE, PER SHARE
And all of those rampers who kept on with their, this will be better, i expect this to rise carp... well
i hope it does rise, but for the next year or so, i dont see this going anywhere close to where we were 2 years and 5 months ago.
This just keeps on sucking
Pawning the family silver was a very poor idea and was always going to end badly. Peed, wall and up spring to mind.
06 December 2022
Metal Tiger plc
(“Metal Tiger” or the “Company”)
Update on Sandfire and Margin Lending Facility
Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed investor in natural resources opportunities, is pleased to announce that it has completed the sale of 1,300,000 shares in Sandfire Resources at approximately A$5.357 per share, raising gross proceeds of approximately A$6.929m.
Metal Tiger has used part of the proceeds of the sale to take up its pre-emptive rights in the retail component of Sandfire’s Entitlement Offer for a total investment of A$2,034,824.50 for an additional 473,215 shares in Sandfire at a price of A$4.30 per share.
Additionally, A$3.894m from the proceeds of the sale have been used to reduce the loan balance outstanding under the Margin Lending Facility to approximately A$0.85m.
The balance of approximately A$1m from the proceeds of the sale will be used for working capital.
Following disposal of the 1,300,000 Sandfire Shares, Metal Tiger is interested in 5,706,953 Sandfire Shares representing approximately 1.29% of Sandfire’s current issued share capital. Post completion of Sandfire’s Entitlement Offer, Metal Tiger will be interested in 6,180,168 Sandfire Shares representing approximately 1.39% Sandfire’s enlarged issue share capital.
As previously announced, 2,842,667 of the Sandfire Shares held by the Company are subject to an equity derivative financing arrangement with a global investment bank. 1,675,125 shares are secured under this facility against a loan outstanding of approximately A$7.042m falling due on 16 December 2022.
For further information on the Company, visit www.metaltigerplc.com
Update on Sandfire and Margin Lending Facility
https://www.lse.co.uk/rns/MTR/update-on-sandfire-and-margin-lending-facility-v0xp5qv006lr48r.html
Wrong link previous
Thick High-Grade #Copper #Assay Results at #Ngami
https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02608072
$CBE Cobre 05/12/2022
Thick High-Grade #Copper #Assay Results at #Ngami
https://asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02608071
$MTR.L #MTR
@metaltigerplc
@MiningBotswana
#Kalahari #Copperbelt #ASX
Cobre holding back up to 20.5% (and CBR at 0.22 AUD)
Metal Tiger holds 15,000,000 Armada Shares, representing approximately 14.42% of Armada’s issued share capital. In addition, Metal Tiger currently holds 3,333,333 options over Armada Shares, exercisable at a price of $A0.334 which expire on 30 December 2026.
A link to Armada’s announcement, released today, is set out below:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02605740-2A1417089?access_token=83ff96335c2d45a094df02a206a39ff4
Looks like where we should be going shortly with SFR/CBR value and copper heading towards $4
But why would an ASX buyer be prepared to pay such a premium over the UK price, or indeed such a premium over the recent ASX price without some significant event/information?
it is crazy to see the different volatility on these two markets. Is it just down to the fact that the ASX has less volume, or is there a different style of trading going on here?
Disposal of interest Kalahari Metals Limited
https://www.lse.co.uk/rns/MTR/disposal-of-interest-kalahari-metals-limited-ebeejpo7ozv***t.html
............................
Michael McNeilly, Chief Executive Officer of Metal Tiger, commented:
"We are pleased to have completed the disposal of our interest in KML, which completes an important transition phase for Metal Tiger PLC as we move away from our project investment division to focus our strategy on substantially growing the Company's net assets. We retain our exposure to KML's highly prospective exploration opportunities in Botswana through our 20.58% shareholding in Cobre.
"As a business, this enables us to operate more efficiently, with greater available resource for operational improvements. I am excited for this new era for Metal Tiger, and look forward to providing further updates on our progress as we look to optimise the business and structure to deliver returns for shareholders through investment in value-accretive and high potential mineral opportunities."
It was only on 20k shares traded