Metal Tiger PLC (AIM:MTR, OTC:MRTTF, ASX:MTR), the AIM and ASX listed investor in natural resource opportunities, has reported an uptick in its available cash in results for the full year ended 31 December 2022.
Cash in hand at the end of the year was £885,000, compared to £684,000, the company noted.
2022 was undoubtedly a “challenging year”, Metal Tiger said in the results statement in which it lamented several macro trends such as inflation, COVID-19 restrictions, and the war in Ukraine.
Metal Tiger reported a net asset value of £31.97mln at the end of 2022, down from £38.82mln a year earlier, and a net asset/tangible asset value per share of 18.9p, down from 22.9p a year earlier. The group posted a loss for full year 2022 of £6.9mln, versus a £4.6mln loss in 2021.
During the course of 2022, Metal Tiger said it was less active in seeking and making new investments than it had been in previous years, with passive investments totalling £3,928,000 for the year, down from £6,137,000 the year before, largely as a result of the macro trends mentioned.
Despite these difficulties, the company's board took several decisive steps in a difficult but transitional 2022 in order to set the foundation for the future growth and strategic ambitions of the company.