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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.

Quick facts: Metal Tiger PLC

Price: 1.52 GBX

AIM:MTR
Market: AIM
Market Cap: £23.14 m
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Metal Tiger's McNeilly details new funding arrangement and share buyback plans

Metal Tiger's (LON:MTR) Michael McNeilly discusses with Proactive London's Andrew Scott the plans around its share buyback programme.  MTR intends to buy back up to 155.9mln shares - equivalent to 10% of the current issued share capital of the company. McNeilly also talks through its...

on 19/12/19

2 min read