RNS21 Dec 2020 10:33
21 December 2020
Metal Tiger Plc
("Metal Tiger" or the "Company")
Investment in Catalyst Metals Limited (ASX:CYL)
Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to announce that it has subscribed for 142,857 new ordinary shares in Catalyst Metals Limited (ASX:CYL) ("Catalyst"), at a price of A$2.10 per share, for a total investment of approximately A$300k (approximately £170k), as part of Catalyst's A$18 million placement (the "Fundraise"). Catalyst is also looking to undertake a Share Purchase Plan ("SPP") to raise approximately an additional A$2 million from existing shareholders and it is noted that Catalyst's Directors intend to participate in the SPP to the maximum extent possible. Following completion of the Fundraise and the SPP, Metal Tiger will be interested in 142,857 shares in Catalyst, representing circa 0.15% of Catalyst's issued share capital.
Catalyst is a mineral exploration company which holds interests in advanced gold projects in Victoria, Australia. The company is planning major exploration programs in the Bendigo district in 2021, comprising circa 80,000m of drilling across their high-grade Victorian gold projects. This will include 30,000m drilling focused on the Boyd's Dam project, targeting a planned maiden JORC Resource in 2021, and 50,000m drilling targeted at the Tandarra, Drummartin, Boort, Toolleen and Golden Camel projects, where high-grade gold mineralisation has been discovered. Furthermore, Catalyst is seeking to acquire the Henty Gold Mine and associated Tasmanian exploration tenements from Diversified Minerals Pty Ltd.
For the 12 months ending 30 June 2020, Catalyst reported a net loss of approximately A$1.75 million and, as at 30 June 2020, reported net assets of A$22.68 million.
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Metal Tiger
@metaltigerplc
·
21m
#MTR Investment Catalyst Metals Ltd
https://polaris.brighterir.com/public/metal_tiger/news/rns/story/x8oj05r
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