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Metal Tiger raises £1.1m in placing and subscription

Wed, 17th Aug 2016 15:38

(ShareCast News) - Strategic natural resource investor Metal Tiger advised the market on Wednesday that it has raised £1.1m through a placing and subscription of shares.The AIM-traded company said the placing and subscription of 28,571,428 new ordinary shares in Metal Tiger was at a subscription price of 3.85p per ordinary share.It also issued 28,571,428 warrants to subscribe for the same number of new ordinary shares in at an exercise price of 7.70p per warrant, within a 12 month exercise period.The placing was undertaken with high net worth investors, with several existing investors and also new holders of Metal Tiger stock.Its board said the funding will be used to augment existing underlying working capital for strategic project developments in Spain and Thailand, and to support an acceleration and expansion of the company's Botswana investing activities."Metal Tiger has now demonstrated on two occasions in 2016 an ability to raise £1m-plus at or around the market price at the time the placing was agreed," said CEO Paul Johnson."This is testament to the strength of the company's growing support, the hard work of the team and the dedication of our brokers SI Capital."Of most significance however is the commitment and financing capability of the placees who have supported this strategic financing exercise," Johson explained.He said Metal Tiger is in a highly robust working capital position, and that prior to the placing it had working capital of cash and tradable equities and warrants exceeding £4m."This placing of £1.1m adds material additional working capital at a significant point in the company's development."Metal Tiger is expanding our investing activities at pace and the additional cash resources provide the company with the enhanced firepower to accelerate activities in a confident and proactive manner," Johnson said."Cash is the lifeblood of a company such as Metal Tiger, and the demonstrable ability to raise properly priced additional finance sends a vital message to the market and to those with whom we engage as we seek to grow our business."He explained that the additional cash raised specifically enables the Company to push forward with an expansion of its investing activities in Botswana, where with joint venture partners MOD Resources it is working to accelerate drilling, delineate a maiden resource at T3 and build its knowledge of the wider regional mineralisation across multiple targets within the licence areas."Metal Tiger continues to strengthen and we anticipate a series of news flow in the coming days and weeks from across our business."
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11 May 2021 12:21

Metal Tiger's Kalahari holding begins drilling in Botswana

(Sharecast News) - Natural resources investor Metal Tiger updated the market on its Botswana copper-focussed explorer Kalahari Metals on Tuesday, in which it currently holds a 50.01% interest, with Cobre holding the remainder.

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30 Apr 2021 20:22

IN BRIEF: Metal Tiger notes quarterly performance from Southern Gold

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28 Apr 2021 16:54

IN BRIEF: Metal Tiger notes good quarterly performance from Sandfire

IN BRIEF: Metal Tiger notes good quarterly performance from Sandfire

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20 Apr 2021 06:54

IN BRIEF: Metal Tiger says Kalahari Metals approves drilling programme

IN BRIEF: Metal Tiger says Kalahari Metals approves drilling programme

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19 Mar 2021 11:46

Metal Tiger to invest USD750,000 in Armada Exploration for 19% stake

Metal Tiger to invest USD750,000 in Armada Exploration for 19% stake

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19 Mar 2021 11:30

Metal Tiger invests $0.75m in Gabon-focussed Armada

(Sharecast News) - Metal Tiger has agreed to invest $0.75m (£0.54m) in the Mauritius-domiciled company Armada Exploration, it announced on Friday, which owns 100% of Armada Exploration Gabon.

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5 Mar 2021 22:00

IN BRIEF: Metal Tiger notes progress at Kalahari's Kitlanya asset

IN BRIEF: Metal Tiger notes progress at Kalahari's Kitlanya asset

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15 Feb 2021 14:09

IN BRIEF: Metal Tiger Makes CAD150,000 Investment In Millennial Silver

IN BRIEF: Metal Tiger Makes CAD150,000 Investment In Millennial Silver

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4 Jan 2021 09:02

Metal Tiger buys chunk of ASX-listed Southern Gold

(Sharecast News) - Natural resources investor Metal Tiger has purchased 1,225,000 shares in the ASX-listed Southern Gold at an average price before costs of 11.93 Australian cents per share, for a total consideration of AUD 0.15m (£0.09m).

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21 Dec 2020 14:53

Metal Tiger makes investment in Australia's Catalyst Metals

(Sharecast News) - Natural resources investor Metal Tiger has subscribed for 142,857 new shares in Catalyst Metals at a price of AUD 2.10 per share, it announced on Monday, for a total investment of about AUD 0.3m (£0.17m), as part of Catalyst's AUD 18m placement.

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4 Dec 2020 08:10

Metal Tiger makes investment in Marimaca Copper

(Sharecast News) - Natural resources investor Metal Tiger has subscribed for 141,956 units in Marimaca Copper at a price of CAD 3.15 each, for a total investment of CAD 0.45m (£0.26m), it announced on Friday, as part of Marimaca's CAD 28.98m equity financing.

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23 Nov 2020 07:00

Metal Tiger Notes Cobre Progress In Purchase Of Kalahari Metals Stake

Metal Tiger Notes Cobre Progress In Purchase Of Kalahari Metals Stake

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22 Oct 2020 21:24

IN BRIEF: Metal Tiger Notes Extended Deadline For Kalahari-Cobre Deal

IN BRIEF: Metal Tiger Notes Extended Deadline For Kalahari-Cobre Deal

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22 Oct 2020 11:10

Metal Tiger agrees extension to proposed Kalahari deal

(Sharecast News) - Natural resources investor Metal Tiger announced on Thursday that it has agreed to amend the heads of agreement, under which Cobre would acquire up to 51% of Kalahari Metals.

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