MTR Metal Tiger Plc

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/

 
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Metal Tiger plc

 
    SOURCE: Metal Tiger plc 
Copyright Business Wire 2020 
 

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