Metal Tiger PLC - AIM-listed investor in natural resource opportunities - Announces sale of 1.3 million shares in Sandfire Resources Ltd at AUD5.36 per share, raising approximately AUD6.9 million. Metal Tiger uses part of the proceeds to take up its pre-emptive rights in the retail component of Sandfire's entitlement offer, for an investment in 473,215 new shares at AUD4.3 per share worth AUD2.0 million. Metal Tiger says AUD1.0 million will be used for working capital, while the remaining AUD3.9 million will be used to reduce the outstanding loan balance to approximately AUD850,000.
Current stock price: 11.45 pence, down 0.4% on Wednesday morning in London
12-month change: down 46%
By Harvey Dorset, Alliance News reporter
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