Metal Tiger Plc (LON:MTR) told investors that it has added more shares in Kingsgate Consolidated Limited (ASX:KCN).
It has purchased 430,000 shares at a price of 33 Australian cents, equivalent of 20p, per share. The transaction takes MTR’s stake up to 11.58mln shares, amounting to 5.18% of the Australian company.
Metal Tiger announced its first acquisition of Kingsgate shares, picking up a 4.99% stake for the equivalent of £354,544.
Kingsgate owns two key assets, the Chatree gold mine in Thailand the Nueva Esperanza silver old project in Chile.
At Nueva Esperanza the company is advancing a definitive feasibility study which is due in January, and it is talks with the Thai government with a view to reopening the Chatree mine (which closed in December).
KCN in the last financial year, ended June 30, made a comprehensive income of AU$8.33mln or £4.9mln, and had some £59.4mln of net assets.