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Metal Tiger invests A$1.4mln in Cobre Ltd

Metal Tiger has a diverse asset portfolio, and a track record of successful investing in Botswana

Metal Tiger PLC -

Metal Tiger PLC (LON:MTR) has subscribed for just over 8.3mln shares in Cobre Ltd at a price of A$0.17 per share.

The total investment amounts to A$1.413mln.

Cobre is raising A$6.7mln in total.

The funds raised by Cobre will be used primarily to finance exploration drilling activities for Kalahari Metals Ltd, the copper-silver exploration joint venture with Metal Tiger that operates in Botswana.

Following completion of the fundraise, Metal Tiger will hold approximately 20.72% of Cobre.

“We are pleased to have supported Cobre in this equity fundraise which allows the commencement of an extensive programme of exploration drilling activities at our Kalahari Metals joint venture with Cobre,” said Metal Tiger’s chief executive Michael McNeilly.

“Metal Tiger shareholders will be well positioned to benefit from any upcoming exploration success at Kalahari Metals through its 49% joint venture interest, its 21% equity interest in Cobre, and its 2% net smelter royalty.”

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Price: 22.5 GBX

Market Cap: £37.51 m

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