METAL TIGER PLC: Sandfire Resources Update (ASX: SFR)
August 27 2020 - 4:22AM
UK Regulatory
TIDMMTR
27 August 2020
Metal Tiger plc
("Metal Tiger" or the "Company")
Sandfire Resources Update (ASX: SFR)
Metal Tiger plc (AIM: MTR), the London Stock Exchange AIM listed
investor in natural resource opportunities, is pleased to provide
an update in relation to its investment in Sandfire Resources
Limited ("Sandfire").
Sandfire has today released its financial results for the year
ended 30 June 2020 full and announced a A$0.14 dividend per
Sandfire share.
Metal Tiger is currently interested in 6,296,990 Sandfire
shares, representing approximately 3.5% of Sandfire's issued share
capital. As announced on 31 July 2020, 2,609,887 of the Sandfire
shares held by the Company are subject to an equity derivative
financing arrangement with a global investment bank (the "Umbrella
Facility").
Accordingly, assuming that Metal Tiger maintains its current
interest in Sandfire as at the record date (15 September 2020),
Metal Tiger will receive approximately A$516k (approximately
GBP283k) on 29 September 2020, being the dividend due in respect of
the Sandfire shares not subject to the Umbrella Facility. The
balance of the dividend, being approximately A$365k due in respect
of the Sandfire shares the subject to the Umbrella Facility, will
reduce the outstanding balance due pursuant to the Umbrella
Facility from A$11.765m to A$11.4m.
Links to the Sandfire announcements released today are
below:
Dividend/Distribution -- SFR:
https://www.asx.com.au/asxpdf/20200827/pdf/44lyqqj9zb4t10.pdf
2020 Annual Financial Report and Appendix 4E:
https://www.asx.com.au/asxpdf/20200827/pdf/44lyq94x5jlwpp.pdf
2020 Full Financial Results Announcement:
https://www.asx.com.au/asxpdf/20200827/pdf/44lyqgw8kgz900.pdf
2020 Full Year Financial Results Presentation:
https://www.asx.com.au/asxpdf/20200827/pdf/44lyqlpgdp20zj.pdf
For further information on the Company, visit:
www.metaltigerplc.com
Enquiries:
Michael McNeilly (Chief Executive Officer) Tel: +44 (0)20 7099 0738
Mark Potter (Chief Investment Officer)
Richard Tulloch Strand Hanson Limited (Nominated Tel +44 (0)20 7409 3494
James Dance Adviser)
Jack Botros
Paul Shackleton Arden Partners plc (Broker) Tel: +44 (0)20 7614 5900
Steve Douglas
Gordon Poole Camarco (Financial PR) Tel: +44 (0)20 3757 4980
James Crothers
Hugo Liddy
Notes to Editors:
Metal Tiger PLC is admitted to the AIM market of the London
Stock Exchange AIM Market ("AIM") with the trading code MTR and
invests in high potential mineral projects with a base, precious
and strategic metals focus.
The Company's target is to deliver a high return for
shareholders by investing in significantly undervalued and/or high
potential opportunities in the mineral exploration and development
sector. Metal Tiger has two investment divisions: Equity
Investments and Project Investments.
Equity Investments invests in undervalued natural resource
companies. The majority of its investments are listed on AIM, the
TSX and the ASX, which includes its interest in Sandfire Resources
Limited (ASX: SFR). The Company also considers selective
opportunities to invest in private natural resource companies,
typically where there is an identifiable path to IPO. Through the
trading of equities and warrants, Metal Tiger seeks to generate
cash for investment for the Project Investments division.
Project Investments is focused on the development of its key
project interests in Botswana, where Metal Tiger has a growing
interest in the large and highly prospective Kalahari copper/silver
belt through its interest in Kalahari Metals Limited.
The Company actively assesses new investment opportunities on an
on-going basis and has access to a diverse pipeline of new
opportunities in the natural resources and mining sectors. For
pipeline opportunities deemed sufficiently attractive, Metal Tiger
may invest in the project or entity by buying publicly listed
shares, by financing privately and/or by entering into a joint
venture.
END
View source version on businesswire.com:
https://www.businesswire.com/news/home/20200827005317/en/
CONTACT:
Metal Tiger plc
SOURCE: Metal Tiger plc
Copyright Business Wire 2020
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