RNS29 Mar 2023 18:25
Posting of Annual Report
A complete version of the Annual Report and Accounts can be found here:http://www.rns-pdf.londonstockexchange.com/rns/6744U_1-2023-3-29.pdf, and on the Company website: https://www.metaltigerplc.com/investors/financial-reports-accounts . Copies of the abovementioned document will be posted in accordance with the timetable below.
Highlights:
· Registration of the Company as a small UK AIFM ("AIFM") under the Alternative Investment Fund Managers Regulations 2013 ("AIFMR").
· Completed the sale of its remaining 49% interest in Kalahari Metals to Cobre thereby exiting projects division.
· Equity Investments division reported a loss of £5.1m (before administration and interest costs), primarily driven by overall market conditions during the year and more specifically the decrease in value of the Company's investments in Sandfire together with the decreased dividend earned from Sandfire of £146,000 (2021: £1,538,000).
· No incremental revaluation of the royalty over 2% net smelter return ("NSR") over circa 8,000km2 of Sandfire's exploration tenements and in-particular the licence that holds the A4 project, which was a material contributor to the previous results of the Company (2021: £5,214,000)
· The Company replaced its Margin Lending Facility with SC Lowy with an increased new A$15m Margin Lending Facility from a fund under the same Lender, allowing the Company to follow its rights in Sandfire's placement and enabling further acquisitions in Sandfire when deemed opportunistic.
· Net current assets at the year end of £19.2m (2021: £24.1m).
· Loss for the year before taxation of £6.7m (2021: profit of £4.2m).
more.......
https://www.investegate.co.uk/CompData.aspx?code=MTR&tab=announcements
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