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Metal Tiger's net asset value grows 389% in 2016

Metal said the long-term outlook for copper, lead, zinc, silver and gold were expected to be positive
Metal Tiger's net asset value grows 389% in 2016
Metal Tiger is a resource investor

Natural resources investment group Metal Tiger PLC (LON:MTR) made good progress in 2016 and saw its net asset value grow 389% to around £7.4mln.

Notably, its interests in Thailand and Botswana grew substantially and its investments in Direct Equities yielded strong results, it said.

Investment gains were over £2.6mln and its net current assets at year end stood at £5.67mln, up from £1.058 mln the year previously.

Metal said the long-term outlook for copper, lead, zinc, silver and gold were expected to be positive in the years ahead, while the consolidation of the rebound in copper prices, that began in November 2016, is expected to continue.

Industrial metal prices are expected to remain supported in 2017 due to strong demand from China, and supply constraints in Chile, Indonesia and Peru.

"Metal Tiger was very active for the second year in a row, with substantial progress with respect to its projects in Botswana and Thailand, extensive assessment of new opportunities and active management of the equities portfolio.

"The board is now focused on maximising its returns from its two key projects in Thailand and in Botswana and the company will continue to grow into a more robust natural resources investing company," chairman Charles Hall said.

The first half of 2017 has been encouraging, the firm added, with a capital raise from Sprott Capital Partners and others totalling £4.85mln, with progress on the pre-feasibility study in Botswana; and the completion of the PEA and CPR on the lead, zinc, silver mine in Thailand.

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