Metal Tiger PLC (LON:MTR) told investors that it has increased its stake in associate MOD Resources Ltd (ASX:MOD).
It confirmed that it had invested A$705,000, taking up 15mln new shares in a recent share placing.
READ: MOD Resources raising $18 mln for copper project in Botswana
As a result, Metal Tiger retains a 5.86% interest in MOD, and the company also noted that it intends to take up its full entitlement in MOD’s 16-1 rights issue (which would see it take up 7.88mln shares at a cost of A$370,713).