LONDON (Alliance News) - Natural resources investment company Metal Tiger PLC on Tuesday said it has acquired a further stake in joint venture partner MOD Resources.
The pair are working together on the Kalahari copper project in Botswana. Metal Tiger has a 30% stake in the joint venture, whilst MOD holds the remaining 70%.
Metal Tiger said it has agreed to acquire 6.2 million shares in MOD as part of the rights issue announced by MOD on Monday. It will pay AUD148,000 to acquire the shares and the purchase will give it a 4.8% stake in MOD.
Metal Tiger shares were up 1.9% to 3.67 pence Tuesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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