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Metal Tiger banks handy profit on ECR stake

It has kept hold of the warrants, which are exercisable at 0.04p.
Metal Tiger banks handy profit on ECR stake
Metal Tiger made an £80,000 turn in three months

Metal Tiger (LON:MTR) has banked a handy profit on its investment in gold explorer ECR Minerals (LON:ECR).

The mining compnay investor bought into ECR in November when it acquired 500mln shares at a price of 0.02p (£100,000), a deal that came with an equal number of warrants.

Since then, shares in gold miners and explorers generally have rallied strongly with the recovery in the spot price and Metal Tiger has now sold the shares at 0.036p, raising throwing up a gross profit of £80,000.

It has kept hold of the warrants, which are exercisable at 0.04p.

Paul Johnson, Metal Tiger’s chief executive 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 going forward.” 

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