Metal Tiger PLC (LON:MTR) said it has spent around A$146,000 on increasing its stake in Southern Gold Limited to around 17.72%.
The investor in natural resources bought 1.23mln shares in the Aussie-listed gold explorer at an average price of around A$0.1193 a share.
Southern Gold has a substantial portfolio of high-grade gold projects in South Korea that are largely greenfield epithermal gold-silver targets in the south-west of the country, Metal Tiger told investors.
Michael McNeilly, Metal Tiger’s chief executive officer, is a non-executive director of Southern Gold.