Disposal of ECR Minerals Shares

RNS Number : 0177Q
Metal Tiger PLC
24 February 2016
 

Metal Tiger Plc

24 February 2016

Metal Tiger Plc

("Metal Tiger" or the "Company")

 

 

Disposal of ECR Minerals Shares

 

Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to provide an update with regard to its holding in ECR Minerals plc (LON:ECR).

 

On 18th November 2015 Metal Tiger participated in an ECR Minerals fundraising purchasing 500 million ECR ordinary shares at a price of 0.02p per share and 500 million 0.04p 3 year warrants for a total consideration of £100,000. 

 

Metal Tiger has now disposed of all its 500 million shares in ECR Minerals at an average sales price of 0.036p per share generating cash for the Company of £180,000 and a profit on its investment of £80,000.

 

The Company retains its 500 million warrants, which can be exercised at any time until November 2018 at a price of 0.04p.

 

Paul Johnson, Chief Executive Officer of Metal Tiger said "we are pleased to have achieved this disposal, at a material profit and over a short period of time.  We retain the warrants and therefore an exposure to any further share price increase above 0.04p achieved by ECR Minerals plc going forward. 

 

Metal Tiger is in a proactive phase in its development and the additional cash funds generated by this disposal put the company in a position to consider further opportunities over and above investment activities already announced to market."

 

 

For further information on the Company, visit: www.metaltigerplc.com:

 

Paul Johnson (Chief Executive Officer)


Tel: +44 (0)7766 465 617

Terry Grammer (Non- Executive Chairman)


Tel: +44 (0)207 099 0738

Sean Wyndham-Quin

Neil Baldwin

Nick Emerson

Andy Thacker

Spark Advisory Partners Limited

(Nominated Adviser)

SI Capital

(Sole Broker)

 

Tel: +44 (0) 2033 683 555

www.sparkadvisorypartners.com

Tel: +44 (0) 1483 413 500

Notes to Editors:

 

Metal Tiger plc is a natural resources focused investing company quoted on the London Stock Exchange AIM Market ("AIM") with the trading code MTR and two investment divisions, Direct Projects and Direct Equities. 

 

The Direct Projects division invests in mineral exploration projects operated by trusted partners on the ground.  Projects are selected for their strategic significance in terms of commodity, location and commerciality factors.  Key strategic investments to date include Spanish Gold & Tungsten, Thai Gold, Copper & Antimony, and Botswanan Copper & Silver. 

 

The Direct Equities division invests in quoted natural resource explorers and developers, with a combination of shares and warrants and seeks generate trading profits for reinvestment into the Direct Projects division.

 

Metal Tiger's target is to deliver a very high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector timed to coincide where possible, with a cyclical recovery in the exploration and mining markets.

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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