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Metal Tiger posts 2019 profit and proposes share consolidation

Net current assets at the year-end were £21.7mln including a cash position of £5mln

Metal Tiger PLC -
copper

Metal Tiger PLC (LON:MTR) swung into the black in the year ended December 31, 2019 as the value of its stake in Aussie-listed Sandfire Resources rose.

The AIM-listed natutal resources investor sold its interest in the T3 copper project in Botswana during the year, which resulted in it holding a stake in new owner Sandfire and a royalty over future production from the project.

Reflecting that, the group's equity Investments division reported a profit of £5mln including dividends from Sandfire of £527,000.

Overall, Metal Tiger reported profits for the year before taxation of £4.5mln (2018: loss £4mln). Net current assets at the year-end were £21.7mln including a cash position of £5mln.

Sandfire is now working towards a maiden resource for the A4 Dome in Botswana, said Metal Tiger, which is likely to have a material impact on the valuation of the 2% net smelter royalty it holds.

Metal Tiger also said it is proposing a share consolidation of ten shares into one, as its board believes that a share price quoted in single pence affects investor perception and volatility and a higher share price will improve both of these.

Quick facts: Metal Tiger PLC

Price: 26 GBX

AIM:MTR
Market: AIM
Market Cap: £39.57 m
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