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IN BRIEF: Metal Tiger's Armada find anomalies in two Gabon licences

Thu, 17th Jun 2021 21:20

Metal Tiger PLC - Winchester-based investor in natural resources companies and projects - Notes that Armada Exploration Ltd, in which Metal Tiger has a 19% interest in, has received the processed results from an electromagnetic survey flown in March over two exploration licences believed to be prospective in nickel and copper in Gabon.

Modelling of the survey data has identified 14 anomalies associated with the margins if interpreted mafic rock units.

"We are excited to report that the processed results of Armada’s airborne geophysics survey have identified 14 conductive bodies distributed along the entire length of the 25km long Libonga-Matchiti Trend, providing further validation of the Ni-Cu sulphide exploration potential of the survey area. Armada are prioritising drilling targets in the Libonga North and Matchiti Central target areas for a planned drilling programme which would commence following the planned ASX listing, with further details expected in due course," says Chief Executive Officer Michael McNeilly.

Current stock price: 27.90 pence

Year-to-date change: up 20%

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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17 Mar 2023 20:53

TRADING UPDATES: Petra Diamonds sells more diamonds amid price growth

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday, Augmentum Fintech and Tap Global on Monday, and not separately reported by Alliance News:

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8 Mar 2023 13:46

Metal Tiger portfolio company applies for Korean exploration licenses

(Alliance News) - Metal Tiger PLC on Wednesday said its portfolio company Southern Gold Ltd has applied for new exploration licenses for two areas of prospective rare earth element mineralisation.

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2 Mar 2023 20:43

IN BRIEF: Metal Tiger to delist from AIM, to maintain trading on ASX

Metal Tiger PLC - investor in natural resources opportunities - Says it is in the best interest of the company and its shareholders to proceed with the cancelling of its shares trading on London's AIM market, without applying for admission of its shares to trading on the SFS or any other market in the UK. Will retain trading on the Australian Securities Exchange. Says this will result in the company having "greater flexibility" to manage its portfolio, allow it to implement its new investing policy and "better position it to pursue and achieve its investment objectives in the future by being able to trade in a more efficient manner".

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2 Mar 2023 11:14

AIM WINNERS & LOSERS: Metal Tiger goes into the Strata but out of AIM

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.

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28 Feb 2023 14:47

TRADING UPDATES: Abingdon Health optimistic; Chamberlin expects growth

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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13 Feb 2023 14:33

IN BRIEF: Metal Tiger sells Sandfire shares to raise proceeds

Metal Tiger PLC - AIM-listed investor in natural resource opportunities - Sells 70,000 shares in Sandfire Resources Ltd at an average price of AUD6.24 per share, or about GBP3.58, raising gross proceeds of about AUD1.1 million. This amounts to about GBP631,132. Of the net proceeds, Metal Tiger says AUD283,000 will be applied to reducing the outstanding loan balance on the AUD15 million margin lending and drawdown facility. AUD772,000 proceeds will be used for working capital and other investment opportunities, Metal Tiger adds.

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14 Dec 2022 15:46

Metal Tiger agrees AUD 15m lending facility

(Sharecast News) - Metal Tiger has entered into a new AUD 15m (£8.32m) margin lending and drawdown facility, it announced on Wednesday, with a sub-fund of SC Lowy SI II (SG) VCC, which it would use for repaying the AUD 0.85m loan balance outstanding on its previous margin lending facility.

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13 Dec 2022 10:54

N BRIEF: Metal Tiger chief investment officer steps down after 5 years

Metal Tiger PLC - AIM-listed investor in natural resource opportunities - Says Chief Investment Officer & Executive Director Mark Potter plans to step down in March, 2023. Potter was promoted to CIO in July 2018, after joining Metal Tiger in January 2017 as a non-executive director.

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8 Dec 2022 14:35

IN BRIEF: Metal Tiger notes Cobre's new chief executive officer

Metal Tiger PLC - AIM-listed investor in natural resource opportunities - Notes Cobre Ltd, in which it holds a stake of around 21%, appoints Adam Wooldridge as new chief executive officer, effective immediately. Adds that Wooldridge is a founding partner of Kalahari Metals Ltd, in which Metal Tiger held a big stake until the end of November, when it sold its interest to Cobre. Metal Tiger says Wooldridge is a geophysicist and geologist with over 25 years experience in Africa, the Middle East and Europe.

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7 Dec 2022 09:12

IN BRIEF: Metal Tiger sells 1.3 million Sandfire Resources shares

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.

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5 Dec 2022 16:57

IN BRIEF: Metal Tiger notes positive assay results from investee Cobre

Metal Tiger PLC - AIM-listed investor in natural resource opportunities - Says that Cobre Ltd has announced that assay results from discovery hole NCP20A at the Comet Target at the Ngami Copper Project in Botswana have returned significant, high-grade copper-silver results. Metal Tiger says this demonstrates the potential for economic grades in the district. Assay results confirm visual copper mineralisation estimates, with grades averaging 1.25% copper and 17 grams per tonne of silver.

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2 Dec 2022 20:39

TRADING UPDATES: Sunrise secures funds; Bango launches e-distribution

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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2 Dec 2022 13:39

IN BRIEF: Metal Tiger notes Armada to start Mobile-Mt survey at Nyanga

Metal Tiger PLC - Winchester, England-based investment company focused on natural resources sector - On Thursday says Armada Metals Ltd will start an airborne survey using the Mobile Magnetotellurics system at the Nyanga project in Gabon. Says the system will be used to "rapidly test potential concealed portions of the Libonga-Matchiti Trend and the highly prospective and untested Ngongo-Yoyo Trend".

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18 Nov 2022 14:38

Metal Tiger considering move to specialist fund segment

(Sharecast News) - Natural resources investor Metal Tiger has successfully been entered into the register of small registered UK alternative investment fund managers (AIFMs), it announced on Friday, with effect from 17 November.

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22 Sep 2022 06:59

IN BRIEF: Metal Tiger notes Cobre's copper findings in Botswana

Metal Tiger PLC - Winchester, England-based investment company focused on natural resources sector -

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