13 Feb 2023 11:39
13 February 2023
Metal Tiger plc
(“Metal Tiger” or the “Company”)
Sandfire Disposal and Margin Lending Facility Update
Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed investor in natural resources opportunities, is pleased to announce that it has sold 170,000 Sandfire Shares at an average price of A$6.24 per share, raising gross proceeds of approximately A$1.061m. Of the net sale proceeds, A$283k will be applied to reducing the outstanding loan balance on the A$15m Margin Lending and Drawdown Facility (the “Facility”) with a sub-fund of SC Lowy SI II (SG) VCC, announced on 14 December 2022, with the balance of A$772k proceeds to be used for working capital and other investment opportunities.
Following the above disposal, Metal Tiger has 4,230,000 Sandfire Shares within the Facility against an outstanding loan balance of A$7.021m, and Metal Tiger will be interested in 5,397,542 Sandfire Shares, representing approximately 1.18% of Sandfire’s issued share capital. 1,167,542 Sandfire Shares will be secured under the equity derivative financing arrangement with a global investment bank.
For further information on the Company, visit www.metaltigerplc.com:
Enquiries:
Michael McNeilly | (Chief Executive Officer) | Tel: +44 (0)20 3287 5349 |
Mark Potter | (Chief Investment Officer) |
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James Dance Richard Johnson Robert Collins | Strand Hanson Limited (Nominated Adviser) | Tel +44 (0)20 7409 3494 |
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Simon Johnson Alexandra Campbell-Harris
| Zeus Capital Limited (Broker) | Tel: +44 (0)20 7614 5900 |
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Gordon Poole Elfie Kent Rebecca Waterworth | Camarco (Financial PR) | Tel: +44 (0)20 3757 4980 |
Notes to Editors:
Metal Tiger PLC is admitted to the AIM market of the London Stock Exchange AIM Market ("AIM") and the ASX Market of the Australian Securities Exchange Market ("ASX") with the trading code MTR and invests in high potential mineral projects with a base, precious and strategic metals focus.
The Company's target is to deliver a high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector.
Equity Investments invests in undervalued natural resource companies. The majority of its investments are listed on AIM, the TSX and the ASX, which includes its interest in Sandfire Resources Limited (ASX: SFR). The Company also considers selective opportunities to invest in private natural resource companies, typically where there is an identifiable path to IPO.
The Company actively assesses new investment opportunities on an on-going basis and has access to a diverse pipeline of new opportunities in the natural resources and mining sectors. For pipeline opportunities deemed sufficiently attractive, Metal Tiger may invest in the project or entity by buying publicly listed shares, by financing privately and/or by entering into a joint venture.
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