PYX Resources: Achieving volume and diversification milestones. Watch the video here.
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Another positive is a proposed 10-for-one share consolidation that will become effective on 1 July. The aim is to improve marketability of Metal Tiger’s shares, reduce their volatility and narrow the bid-offer spread. My new target price of 3p values the equity at £45.6m. Buy.
Metal Tiger roars
Shares in Metal Tiger (MTR:2.25p), an Aim-traded investment company primarily focused on undervalued natural resource opportunities, have almost doubled in value since I included them in my 2020 Bargain Shares Portfolio. The re-rating is fully justified.
That’s because the 24 per cent uplift in 2019 year-end NAV per share (from 1.4p to 1.73p) fails to factor in the significant hidden value in Metal Tiger’s conservatively valued assets. Positive new flow from projects in both Australia and Botswana and the commodity price supportive balance sheet expansion of the US Federal Reserve (‘Bull market rules’, 8 June 2020) are creating a tailwind, too.
In particular, expect further upbeat drilling results at the T3 Copper-Silver copper exploration and development project in the Kalahari Copper Belt, Botswana operated by Sandfire Resources (Aus:SFR). Metal Tiger holds 6.29m shares worth A$29.5m (£16.4m) in the Australian Stock Exchange-listed mining and exploration group. Metal Tiger also owns a 62 per cent interest in the nearby Kalahari Metals Project which could be worth three times’ its £3.2m carrying value based on similar transaction values in the area. These are not the only investments with promise.
In the past month, Metal Tiger has subscribed for 2.85m new shares in newly listed Aim-traded Trident Resources (TRR:19.5p), a company that aims to establish a diversified mining royalty stream by constructing a portfolio with a bias towards production or near-production assets. In addition, Metal Tiger has conditionally agreed to invest A$310,000 in Australian Stock Exchange-listed Cobre Pty (Aus:CBEXX) at the IPO price of A$0.20 per share, to lift its holding to 20.9m shares, a stake worth A$4m (£2.2m). Cobre has just commenced its third drilling programme at the Perrinvale copper project in Western Australia with the aim of extending current Volcanic-Hosted Massive Sulphide mineralisation and drill testing new targets.
In addition, Metal Tiger has invested A$250,000 in Aim-traded Thor Mining (THOR:0.35p) to lift its stake to 147m shares, or 11.46 per cent of the minnow’s share capital. Thor has successfully raised money from Australian investors and secured an option to acquire highly prospective US uranium and vanadium exploration projects. Metal Tiger’s chief executive Michael McNeilly believes the outlook for uranium demand in the US is likely to be particularly robust, hence the exposure to the commodity.
I also note positive drilling news from Aim-traded Greatland Gold (GGP: 12.15p) in relation to the Havieron gold-copper discovery in the Paterson region of Western Australia. The project is being developed under a farm-in agreement with a wholly owned subsidiary of Newcrest Mining (ASX: NCM). Shares in Greatland have surged 572 per cent this year, placing a value of £1.1m on Metal Tiger’s shareholding.
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Thanks for such informative analysis.
https://twitter.com/Roskill_Info/status/1256191639145439239?s=20
roskill suggesting 500t for the year. A lot less than you are estimating there
42.5p lol! One gap that will never be filled.
Wonder how many shares were in circulation back then? In the 10's of millions not the billions we have today.
I've just thought LSE might show sp as down 50% tomorrow LOL!
Wtf is going on now!
Share price showing as 0.31 and trades from Feb 13!
This platform is so crap why do people pay for it?
LSE really is crap at keeping up with prices. Past 5 and it is still hours out of date. Why some people pay for their platform is beyond me.
The way things are going in Spain I will be amazed if it is lifted in 2 weeks time.
So assuming production stops probably for months, with 40m debt (increasing), possibly no grant payment, no revenue etc where do we go from here?
" it will only be in place until 9th April"
You think?
More likely to be for months imo.
Allowed to got out for exercise or a run once a day. Nice to see some common sense. Well done Boris!
Exactly.
Or walking the dog.
I am quite capable of maintaining social distancing. I can run around people keeping my distance. Especially where I live.
More at risk going to the supermarket. What, am I a going to stop shopping as well?
You make a point of saying a 36 year on a ventilator with no underlying health conditions yet conveniently leave out the fact that the 18 year old who died DID have health problems.
Anyway I'm off for a run which I will continue to do so even if it becomes illegal. Would rather be arrested than go mentally insane.
Wish I hadn't looked before I was about to go to bed, copper at 1.97 and SFR 2.88.
You'll be able to buy the company at this rate.
Any chance you scientific experts and political point scorers could discuss elsewhere or just get back to what this board is actually for which is discussing the company WRES?
It is misinformation because the implication that a young athlete has died suggests any young fit and healthy is at high risk. It is not the case. Noone knows anything about this random 23 year old or what state of health she was in. Or even if this person even exists or whether it was just a made up way to explain away a mistake.
So much fear mongering and spreading of fake news around. On Twitter I have started unfollowing people that propagate misinformation. twitter and ocial media really is not helping! The 23 year old....
Contradictory news from Iran on the coronavirus also revealed an embarrassing error by the official media. Elham Sheikhi, 23, a prominent athlete from Isfahan and member of the woman’s national team in futsal, a form of soccer, said Friday in a video release that contrary to earlier announcements of her death from the coronavirus — including a condolence message from a sports federation — she was alive and healthy. Ms. Sheikhi attributed the mistake to an erroneous assumption, based on the death of a Qom woman with the same age and name.
It is on the Beeb.
https://www.bbc.co.uk/news/amp/world-asia-china-51658145