What Metal Tiger does
Metal Tiger is an AIM-listed firm that invests in mining projects and companies.
Its equities division invests in companies listed on London’s junior market AIM, the Australian Stock Exchange and the Toronto Stock Exchange.
The direct projects division focuses on the development of key projects in Botswana, Spain, Thailand and elsewhere.
What it owns
The company owns 62.2% of Kalahari Metals Ltd, which owns the Ngami and Okavango copper projects in Botswana.
It also owns 3.5% Sandfire Resources (ASX:SFR), which acquired former partner MOD Resources.
The group also holds a 19.9% stake in Cobre, which manages the Perrinvale copper project in central Western Australia and a 17.2% stake in Southern Gold
Plans are in train for Cobre to acquire 51% of Kalahari Metals. Upon completion, it will own 20.72% of Cobre and 49% direct interest in KML which will equate to an overall economic interest in KML of 59.57%.
What the boss says: Michael McNeilly, chief executive
"The board believes that completion of the transaction will facilitate the acceleration of KML’s planned exploration programme in one of the most exciting copper jurisdictions in the world, whilst providing an additional funding partner alongside Metal Tiger
"Completion of the transaction will facilitate the acceleration of KML’s planned exploration programme in one of the most exciting copper jurisdictions in the world, whilst providing an additional funding partner alongside Metal Tiger.”
Inflexion points
- The company's 30% stake in the T3 copper project was sold to MOD Resources Limited (LON:MOD) (ASX:MOD) in 2018 and MOD was in turn acquired by Sandfire in 2019
- Metal Tiger now holds just over six million Sandfire shares, a stake which it has borrowed money against
- Kalahari Metals holds interests in 12 highly prospective exploration licences in the Kalahari Copper Belt
- Drilling on the Kalahari portfolio has encountered significant copper mineralisation