viewMetal Tiger PLC

Metal Tiger climbs as net asset value rises above share price

In its results for the six months ended 30 June, the natural resources investor reported that its NAV had risen to 1.71p per share, above its last close price of 1.2p

Metal Tiger Plc - Metal Tiger climbs as net asset value rises above share price
Metal Tiger's investments include Australian copper explorer Cobre

Metal Tiger Plc (LON:MTR) climbed on Wednesday after the natural resources investor’s net asset value (NAV) increased to a premium above its current share price.

In its results for the six months ended 30 June, the AIM-listed group reported an NAV totalling £26.7mln, or 1.71p per share, up from £11.4mln and 0.97p a year ago.

READ: Metal Tiger ‘delighted’ as Kalahari Metals gets environmental greenlight

As a result, Metal Tiger’s share price, which stood at 1.2p at the close on Tuesday, was at a 30% discount to its NAV per share.

Post-period, the company said it had acquired a 15% stake in Cobre, an Australian copper explorer, for around A$500,000 (£272,173), with an agreement to fund a further A$2mln (£1.09mln) as part of a planned initial public offering (IPO) over the next 12 months.

The firm had also continued made further investments in Canadian firm Sable Resources Ltd (CVE:SAE) and Greatland Gold PLC (LON:GGP).

Looking ahead, Metal Tiger’s chairman, Charles Hall, said the group was “exceptionally positive” about its future, adding that despite some negative macro forces they were “generally positive” about the outlook for copper markets, in which it has significant exposure through its investments.

Hall also said that an agreed sale of its 30% stake in a joint venture with Aussie firm MOD Resources Limited (LON:MOD), if completed, would open up a “whole new avenue of possibilities” for both the company’s new and existing investments.

In early trading, Metal Tiger’s shares were 4.2% higher at 1.3p.

Quick facts: Metal Tiger PLC

Price: 21.01 GBX

Market: AIM
Market Cap: £32.22 m

Add related topics to MyProactive

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


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...


Morning report: FTSE falls as traders get back to their desks

The FTSE is lower after a long weekend despite UK factory output rising by the fastest pace in more than six years, albeit from a low level as businesses begin to get back to work.  Movers and shakers include AstraZeneca (LON:AZN) which has received EU approval for Imfinzi which is to...

on 1/9/20

2 min read