Metal Tiger (LON:MTR) has raised £300,000 to take advantage of opportunities in the cash-strapped natural resources sector.
The AIM-quoted natural resources investor placed 33mln shares at a price of 0.9p per share, just over a 10% discount to yesterday’s close.
Cameron Parry, chief executive said: “The availability of numerous opportunities and the sensible commercial terms that can be negotiated reflects the limited capital available across much of the natural resource sector during this bottoming phase of the resources cycle.”
Metal Tiger said its success in investing in companies has led to invitations to look at other opportunities, and the company said that “the time to grow Metal Tiger’s portfolio is now.”
The company currently has investments in Kibo Mining (LON:KIBO), Eurasia Mining (LON:EUA) and Ariana Resources (LON:AAU).