logo-loader
viewMetal Tiger PLC

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: 25.99 GBX

AIM:MTR
Market: AIM
Market Cap: £39.84 m
Follow

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Metal Tiger PLC named herein, including the promotion by the Company of Metal Tiger PLC in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Metal Tiger CEO and Cobre chairman talk strategic acquisition of Kalahari Metals

Metal Tiger's (LON:MTR) Michael McNeilly and Martin Holland, chairman of Cobre limited (ASX:CBE) discuss the news that Cobre is to acquire up to 51% of Kalahari Metals. Metal Tiger has a 62.17% interest in Kalahari Metals Ltd and an 18.79% interest in Cobre. Assuming completion of all the...

3 weeks, 4 days ago

2 min read