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LONDON (Alliance News) - Metal Tiger PLC Wednesday said it swung to a pretax profit in the first half of 2015 after its investments began yielding results for the investment company.
The natural resource investment company reported a GBP98,800 pretax profit in the first six months of 2015, swinging from the GBP100,000 loss a year earlier after the company booked its first gain from its investments, totalling GBP534,300.
The maiden revenue from its investments was mostly offset by administrative costs rising to GBP435,500 from GBP97,100, but it still made an operating profit of GBP98,800 compared to a GBP97,100 loss a year ago.
"Investing companies are rarely seen as exciting investments, especially not in the resources sector at the moment. That said the most dramatic investing gains don't often come from ready-made scenarios but rather from hard working management, geologists and mine engineers on the ground in projects, or for equities, in companies where there is little investor interest despite the tremendous value its assets and potential may offer," said Chairman Terry Grammer.
"We look forward to the remainder of 2015 and beyond. To the investors with the guts, determination and strength of will to invest in natural resource opportunities right now - we salute you," he added.
Metal Tiger invests directly into companies and also directly into projects. At a corporate level, it is invested in fellow AIM-listed stocks Kibo Mining PLC, Ariana Resources PLC and Eurasia Mining PLC.
At project level, Metal Tiger is invested in gold, copper and antimony exploration activities in Thailand, a gold and tungsten project in Spain and a gold and uranium exploration project in Tanzania.
Metal Tiger shares were up 4.1% to 0.989 pence per share on Wednesday afternoon.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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