Metal Tiger PLC (AIM:MTR, OTC:MRTTF, ASX:MTR) told investors that it has contributed to a A$7mln fundraising by Cobre Limited to maintain its pro-rata shareholding.
The company said it has invested A$1.47mln, buying almost 9.81mln new ordinary shares at a price of 15 Aussie cents per share.
Following completion of the fundraising, Metal Tiger will still hold a 21% stake, with its holding increased to 44,572,172 ordinary shares.
The investment will be subject to Cobre shareholder approval at an upcoming general meeting.