logo-loader
viewMetal Tiger PLC

Metal Tiger cuts its stake in Kingsgate Consolidated in half

Metal Tiger has reduced its exposure to Kingsgate Consolidated, but still retains an influential position

1516700948_copper-periodic-table.jpg
Metal Tiger will return its focus to its mines in Botswana

Metal Tiger PLC (LON:MTR) has sold just over 7.9 mln shares in Kingsgate Consolidated Ltd (ASX:KCN), bringing its holding down from just over 19 mln shares to around 11.5 mln shares.

Metal Tiger now holds 5.15% of Kingsgate’s shares.

READ: Metal Tiger says Kingsgate shareholders want change

The sale resulted in gross proceeds of A$2,686,029.

Metal Tiger has taken the prudent decision to de-risk our Kingsgate investment by partially selling down and booking a profit,” said Michael McNeilly, chief executive of Metal Tiger.

“It does not, however, mean we are going away. We still retain more than 5% of Kingsgate and will be watching the board closely to see if they deliver on what they have promised. In the meantime we are turning the bulk of our attention to our copper/silver joint venture with MOD in Botswana, where a prefeasibility Study on T3 is anticipated shortly.”

 

Quick facts: Metal Tiger PLC

Price: 1.33 GBX

AIM:MTR
Market: AIM
Market Cap: £20.42 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Metal Tiger PLC named herein, including the promotion by the Company of Metal Tiger PLC in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Metal Tiger's McNeilly details new funding arrangement and share buyback plans

Metal Tiger's (LON:MTR) Michael McNeilly discusses with Proactive London's Andrew Scott the plans around its share buyback programme.  MTR intends to buy back up to 155.9mln shares - equivalent to 10% of the current issued share capital of the company. McNeilly also talks through its...

4 weeks, 2 days ago

RNS

Transaction in Own Shares

1 day, 11 hours ago

Transaction in Own Shares

2 days, 11 hours ago

Transaction in own shares

1 week, 1 day ago

Transaction in own shares

1 week, 2 days ago

Transaction in own shares

1 week, 3 days ago

Transaction in own shares

2 weeks, 1 day ago

Directorate change

2 weeks, 2 days ago

Transaction in own Shares

2 weeks, 2 days ago

2 min read