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Investor Update: Metal Tiger delighted by result of MOD Resources takeover

Top stories from the Proactive Investors UK newsroom.

Metal Tiger (LON:MTR) says it will accept a takeover offer for partner MOD Resources from Aussie miner Sandfire. The offer will give it a 3.5% stake in Sandfire and values Metal Tiger’s interests at £23.2mln.

C4X Discovery (LON:C4X) is to work with UK biotech group PhoreMost to develop solutions on a treatment for Parkinson’s Disease as part of a partnership to develop drugs for currently untreatable conditions.

Nigeria-focused Eland Oil (LON:ELA) saw net production jump 32% to an average 9,880 barrels of oil per day between January and May. Another 5,400 net barrels are scheduled to come on stream next month.

FirstGroup (LON:FGP) has fired back at activist investor Coast Capital claiming its attempts to unseat the board are just a way to take over without paying a premium. The Great Western and South Western trains operator added Coast’s plans would mean more debt.

Online bank Monzo has raised £133mln in another hefty financing round. It has 2mln customers and claims to be among Europe’s largest unicorns with a value of £2bn.

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