Investment in Canyon Resources Limited (ASX:CAY)
(“Metal Tiger” or the “Company”)
Investment in (ASX:CAY)
(AIM: MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to announce that it has subscribed for 3,000,000 shares in (“Canyon”), at a price of per share, for a total investment of (approximately £165,000), as part of Canyon’s fundraise of announced on (the “Fundraise”). Following completion of the Fundraise, Metal Tiger will hold 3,000,000 shares in Canyon, representing approximately 0.5% of Canyon’s then issued share capital.
Canyon is an ASX listed exploration and development company focussed on developing the world-class Minim Martap bauxite project in , which contains nearly 900 million tonnes of high-grade, low contaminant bauxite and has exploration upside potential. The potential of Minim Martap is underpinned by a pre-feasibility study which supports the project’s potential as a long-term producer of high quality, low contaminant bauxite via multi-stage development.
For the year ending , Canyon reported a net loss of and, as at , Canyon reported net assets of .
For further information on the Company, visit:www.metaltigerplc.com
Notes to Editors:
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.
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 (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.Equity Investments
is focused on the development of its key project interests in , where Metal Tiger has a growing interest in the large and highly prospective Kalahari copper/silver belt through its interest in .Project Investments
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.
(Chief Executive Officer)
(Chief Investment Officer)
Tel: +44 (0)20 7099 0738
Strand (Nominated Adviser)
Tel +44 (0)20 7409 3494
Arden Partners plc (Broker)
Tel: +44 (0)20 7614 5900
Camarco (Financial PR)
Tel: +44 (0)20 3757 4980
Quick facts: Metal Tiger PLC
Market Cap: £31.81 m
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...FOR OUR FULL DISCLAIMER CLICK HERE