Metal Tiger PLC (LON:MTR) has returned to Greatland Gold PLC’s (LON:GGP) share register, buying shares in the market to amass almost a 0.5% stake in the Australia-focused gold, copper and nickel explorer.
The AIM-listed investor in strategic natural resource opportunities said it has purchased 14,700,000 ordinary shares in Greatland Gold at an average price of 1.72p per share, representing approximately 0.46% of the company’s issued share capital.
READ: Metal Tiger sells entire shareholding in Greatland Gold, CEO steps down as director of the miner
Metal Tiger announced in October 2017 that it had sold its entire previous shareholding in Greatland and the natural resources investor’s chief executive stepped down as a non-executive director of the miner.
The firm’s holding in Greatland then had been 3.811%, having been diluted down from 5.2%.
Michael McNeilly, Metal Tiger’s chief executive officer commented: “Metal Tiger is delighted to once again become a shareholder of Greatland Gold following the recent announcement of a world class gold discovery at Greatland’s Havieron licence in the Paterson region of Western Australia.
“We are highly encouraged by the indicative size of this new gold discovery at Havieron, given the exceptional drilling and geophysical results Greatland has announced to date.”
He added: “Today’s announcement reflects Metal Tiger’s focus on acquiring minority equity investments in natural resource projects that demonstrate considerable upside potential.
“We are confident that through this strategy we can continue to add significant value to Metal Tiger’s Direct Equities portfolio over the coming months.”