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Metal Tiger hails 'excellent' 2014

Published: 08:37 26 Jun 2015 BST

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Chairman Terry Grammer argued that the company had done an “excellent job” in growing the company.

Metal Tiger (LON:MTR) hailed an excellent year in 2014 as assets, profits and its market value all grew sharply.

Year-on-year, the company’s net assets increased by 1,900%, its market capitalisation by over 400%, its borrowings were cut to zero, and it turned the previous year’s £190,000 loss into a profit of £106,000.

The key date was June 2014, when Cameron Parry was appointed as chief executive. Other management appointments followed, £400,000 in new money was raised, and an active investment programme got underway.

The investments fall into two categories: investments in listed companies in the mining sector, and investments directly in projects held in joint venture, also in the mining sector.

The principal asset is a joint venture with South East Asia Mining, signed in October 2014, which allows Metal Tiger to take a 75% stake in four gold exploration licences in Thailand.

The company will also hold 10% of two separate Thai operating subsidiaries established to hold the licences. The total cost of the transaction will run to US$150,000, although payment will be made in stages.

Elsewhere, Metal Tiger has entered into a joint venture with Kibo Mining (LON:KIBO) on uranium and gold properties in Tanzania, a country in which Kibo has extensive interests.

At the time of the initial uranium transaction in November, Metal Tiger also invested £150,000 directly into Kibo, making it a substantial shareholder.

After a period of due diligence it was then awarded 10 million warrants over 10 million new Kibo shares at 3p each.

Elsewhere, in December, Metal Tiger invested £150,000 into Eurasia Mining, which has platinum and other interests in Russia. Metal Tiger will have the right to participate and co-fund any new Eurasia project undertaken in the next 18 months.

Finally, post the period end, the company also invested £150,000 in Ariana Resources (LON:AAU), which is developing gold projects in Turkey.

Chairman Terry Grammer argued that the company had done an “excellent job” in growing the company.

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