Metal Tiger (LON:MTR), the investment specialist, says it's well funded and ready for the cycle to turn in favour of natural resource investors as it searches for new opportunities in the metals sector.
Chief executive Cameron Parry confirmed at an AGM that the group was in late stage discussions over a potentially high grade gold opportunity with near term production potential.
He said the group aimed to be a strong financing partner for investees, and had over the last year reinvested significant profits achieved in Kibo Mining (LON:KIBO) and Eurasia Mining (LON:EUA) with an early conversion of three-year warrants.
"The direct projects division is active with investments in a successful tungsten/gold project in Spain, an intriguing gold/antimony project in Thailand and the company also awaits initial data from its gold joint venture with Kibo Mining in Tanzania," he told the meeting.
"The direct projects division collaborations continue with Ariana Resources in Turkey and Eurasia Mining in Russia, seeking out new precious metals opportunities. We are optimistic of progress on both fronts this year."
Metal Tiger shares are unchanged to stand at 0.925p.