Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Metal Tiger invests in South African business

Resources specialist Metal Tiger is to invest £50,000 into a similar business based in South Africa.
Metal Tiger invests in South African business
It wil be the first stage in the broadening its network of interests

Resources specialist Metal Tiger (LON:MTR) is to invest £50,000 into a similar business based in South Africa.

The AIM-listed group is to acquire over 19mln shares, roughly a 30% holding in ZimNRG (ISDX:ZIMO), a resource investing company quoted on the ISDX market.

ZimNRG will change its name to MetalNRG subsequent to shareholder approval.

Metal Tiger said the investment wil be the first stage in the broadening its network of interests in other publicly listed companies.

ZimNRG had net assets of around net £138,000 at the end of last August.

Paul Johnson, Metal Tiger’s chief executive, will join the board of ZimNRG to oversee the investment.

“By channelling some of our energy and ideas into third party vehicles, in which Metal Tiger holds a material stake, we can continue to drive the value of the Metal Tiger business as a whole,” said Johnson.

Share price rose 6% to 0.93p.

View full MTR profile

Metal Tiger Timeline

Related Articles

Pictured is the Manica mine in Mozambique - today's news concerned a resource upgrade from there...
May 11 2016
The new estimate saw the total resource at Manica raised by 36% to 1.257mln ounces compared to a previous estimate
7-Drill-rig-mountains-in-the-background.jpg
November 25 2016
Barsele Minerals Corp., the miner junior, reported a huge improvement in its profitability with its third quarter earnings
Wheat.jpg
August 18 2016
Harvest is now within a few months of trial mining at Arapua

© Proactive Investors 2016

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.