Metal Tiger PLC Investment Update - Kibo Mining plc (6343D)
January 30 2015 - 7:44AM
UK Regulatory
TIDMMTR
RNS Number : 6343D
Metal Tiger PLC
30 January 2015
METAL TIGER PLC
30 January 2015
Metal Tiger plc
("Metal Tiger" or the "Company")
Investment Update - Kibo Mining plc
Metal Tiger Plc (LON: MTR), the natural resources investing
company, is pleased to update investors with regard to the
Company's direct equity investment in Kibo Mining plc (LON: KIBO)
("Kibo").
On 21 November 2014 Metal Tiger announced the investment of
GBP150,000 in Kibo at 1.5p per share, and at that point Metal Tiger
held 10 million shares in Kibo. Since that time the share price of
Kibo has appreciated considerably reflecting the progress made by
Kibo as demonstrated in their market announcements over the last
two months. Metal Tiger is pleased to confirm that since its
original acquisition of stock, it has sold 9 million shares in
Kibo, with the average sale price being in excess of five times the
acquisition cost.
Metal Tiger is pleased to confirm that the funds raised by this
disposal has enabled the Company to immediately convert 10 million
warrants in Kibo at 3p per share, restoring Metal Tiger to a
notifiable position of 11 million Kibo shares (as confirmed by Kibo
in their holding announcement of today's date). This investment
further augments Kibo's cash position at an important time as they
seek to secure high value commercial collaborations on their key
projects.
Cameron Parry, CEO of Metal Tiger commented "We are very pleased
to confirm a substantial realised gain on our first direct equity
investment which is highly material when set against Metal Tiger's
current GBP1.9million market valuation.
We believe that there are many opportunities for Metal Tiger to
take direct equity positions in companies with high quality, high
value assets, where the poor natural resource sector sentiment has
led to significant undervaluation.
Concurrently with our direct equity investment work, we are
progressing our direct project investment activities and look
forward to updating the market with new developments in both
divisions shortly."
For further information on the Company, visit:
www.metaltigerplc.com:
Cameron Parry Tel: +44 (0)207
(CEO) 099 0738
Paul Johnson Tel: +44 (0)7766
(Non-Executive 465 617
Director)
Sean Wyndham-Quin Spark Advisory Partners Tel: +44 (0) 2033
Neil Baldwin Limited 683 555
(Nominated Adviser)
Nick Emerson SI Capital Limited Tel: +44 (0) 1483
Andy Thacker (Sole Broker) 413 500
This information is provided by RNS
The company news service from the London Stock Exchange
END
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