RE: Annual Report RNS29 May 2020 13:04
Michael McNeilly CEO of Metal Tiger stated:
“The sale of our interests in our MOD joint venture and the subsequent sale of MOD to Sandfire represented a critical turning point for the Company. It has facilitated further exciting new investments, increased our liquidity and increased our asset value. Further, the sale has given the Company immediate cash flow in the term of Sandfire dividends, but also a look through to potential long term cash flow in the form of a 2% net smelter royalty over the old MOD/Metal Tiger JV ground covering circa 8,000 km2.
“This deal, together with the new share issues during 2019 have meant that we have been able to acquire investments in Cobre and Southern Gold and to continue funding our interests in KML, thereby increasing our portfolio diversity whilst retaining our high-impact interest in exciting jurisdictions such as the Kalahari Copper Belt.”