viewMetal Tiger PLC

Metal Tiger invests in new gold company Anacortes Mining Corp

First Light and New Oroperu Resources agreed in June to combine and form Anacortes Mining

Metal Tiger PLC -

Metal Tiger PLC (LON:MTR, ASX:MTR) has invested in Anacortes Mining Corp, a new growth orientated gold company in the Americas.

The natural resources investor said it bought a stake in First Light Capital Corp for about C$500,000 (£288,000) as part of a capital raise by First Light of C$22.0mln.

First Light and New Oroperu Resources Inc agreed in June to combine and form Anacortes Mining.

Anacortes will initially be focused on the continued exploration and advancement of the Tres Cruces gold project in Peru. Tres Cruces is one of the highest-grade oxide deposits globally and hosts oxide plus sulphide indicated resources of 2.474 million ounces at 1.65 grammes a tonne (g/t) gold and inferred resources of 104,000 ounces at 1.26 g/t gold, including 630,000 ounces of high-grade leachable gold at 1.28 g/t gold.

Following the completion of First Light’s fundraise and the merger, Metal Tiger will hold a stake of about 0.5% in Anacortes and also receive 625,000 warrants exercisable within two years at a price of C$0.55.

Quick facts: Metal Tiger PLC


Price: 21.5 GBX

Market Cap: £35.84 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 named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...


Metal Tiger CEO talks Botswana drilling and value in 'refreshed' portfolio

Metal Tiger PLC (AIM:MTR)'s Michael McNeilly speaks to Proactive's Andrew Scott following the recent announcement from Sandfire Resources of a standout intersection from 439m down-hole of 45m at 2.2% copper. The hole was 1.2km southwest of the recently upgraded A4 Mineral Resource. Metal Tiger...

2 weeks ago

2 min read