Metal Tiger PLC (LON:MTR), a natural resource investor, said it subscribed for 750,000 shares in Pan Global Resources Inc. (TSXV:PGZ) , a precious and base metals explorer in Southern Spain, for a total C$450,000 (about £264,000).
The investment, made as part of Pan Global’s C$14.95mln fundraise announced on June 8, takes Metal Tiger’s shareholding to about 0.64%.
The shares were priced at C$0.60 each. Pan Global’s shares closed at C$0.77 on June 8.
Pan Global is working on the Escacena project within the highly prospective Iberian Pyrite Belt. The Iberian Pyrite Belt is believed to be one of the world’s most prolific volcanic-hosted massive sulphide districts, with more than 80 known deposits mined for pyrite, copper, zinc, gold, silver and tin, including eight giant deposits with more than 100mln tonnes of massive sulphide.
In a separate statement, Metal Tiger noted an announcement by Sandfire Resources Ltd (ASX: SFR) regarding the award of an open pit mining contract for the Motheo project in Botswana.
Metal Tiger has a 3.4% stake in Sandfire.