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Metal Tiger increases stake in MOD Resources with latest investment

Metal Tiger invested A$705,000 in the recent share placing, and intends to invest a further A$370,713 via a rights issue
After the placing, Metal Tiger retained a 5.86% interest in MOD Resources.

Metal Tiger PLC (LON:MTR) told investors that it has increased its stake in associate MOD Resources Ltd (ASX:MOD).

It confirmed that it had invested A$705,000, taking up 15mln new shares in a recent share placing.

READ: MOD Resources raising $18 mln for copper project in Botswana

As a result, Metal Tiger retains a 5.86% interest in MOD, and the company also noted that it intends to take up its full entitlement in MOD’s 16-1 rights issue (which would see it take up 7.88mln shares at a cost of A$370,713).

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