Metal Tiger has reduced its exposure to Kingsgate Consolidated, but still retains an influential position
PLC () has sold just over 7.9 mln shares in Kingsgate Consolidated Ltd (), bringing its holding down from just over 19 mln shares to around 11.5 mln shares.
now holds 5.15% of Kingsgate’s shares.
The sale resulted in gross proceeds of A$2,686,029.
“ 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 .
“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.”
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