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Metal Tiger to take a 14.9% stake in Southern Gold, writes off Spanish joint venture

Metal Tiger will have the right to board representation

Metal Tiger PLC -

Metal Tiger PLC (LON:MTR) is to invest A$3.33mln, or around £1.7mln into Australian-based and South Korean-focused gold explorer, Southern Gold Ltd (ASX:SAU).

The investment is part of a larger fundraising on the part of Southern Gold, which will raise A$10mln at A$0.14 per share.

Following completion, Metal Tiger will be interested in circa 14.9% of Southern Gold.

Highlights of Southern Gold investment:

Southern Gold owns a portfolio of high-grade gold projects in South Korea, comprised largely of greenfield epithermal targets

Separately, Metal Tiger has also decided to write off the Logrosan joint venture in Spain.

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Price: 25.99 GBX

Market: AIM
Market Cap: £39.84 m


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