TIDMMTR
RNS Number : 6744U
Metal Tiger PLC
29 March 2023
29 March 2023
Metal Tiger plc
("Metal Tiger" the "Company" or the "Group")
Audited results for the year ended 31 December 2022
Posting of Annual Report
Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed
investor in natural resources opportunities, is pleased to announce
its audited results for the year ended 31 December 2022. There has
been no change to the financial results as released to the market
on 28 February 2023.
A complete version of the Annual Report and Accounts can be
found
here:http://www.rns-pdf.londonstockexchange.com/rns/6744U_1-2023-3-29.pdf,
and on the Company website:
https://www.metaltigerplc.com/investors/financial-reports-accounts
. Copies of the abovementioned document will be posted in
accordance with the timetable below.
Highlights:
-- Registration of the Company as a small UK AIFM ("AIFM") under
the Alternative Investment Fund Managers Regulations 2013
("AIFMR").
-- Completed the sale of its remaining 49% interest in Kalahari
Metals to Cobre thereby exiting projects division.
-- Equity Investments division reported a loss of GBP5.1m
(before administration and interest costs), primarily driven by
overall market conditions during the year and more specifically the
decrease in value of the Company's investments in Sandfire together
with the decreased dividend earned from Sandfire of GBP146,000
(2021: GBP1,538,000).
-- No incremental revaluation of the royalty over 2% net smelter
return ("NSR") over circa 8,000km(2) of Sandfire's exploration
tenements and in-particular the licence that holds the A4 project,
which was a material contributor to the previous results of the
Company (2021: GBP5,214,000)
-- The Company replaced its Margin Lending Facility with SC Lowy
with an increased new A$15m Margin Lending Facility from a fund
under the same Lender, allowing the Company to follow its rights in
Sandfire's placement and enabling further acquisitions in Sandfire
when deemed opportunistic.
-- Net current assets at the year end of GBP19.2m (2021: GBP24.1m).
-- Loss for the year before taxation of GBP6.7m (2021: profit of GBP4.2m).
Post Period:
-- Approval by the shareholders at a General Meeting on 20 March
2023 of a new investment policy.
-- Announced the cancellation of its admission to the AIM
market, effective 31 March 2023, with the last day of trading of
shares on the AIM market being the 30 March 2023.
-- Announced intention to change the name of the Company to
Strata Investment Holdings shortly following the AIM
Cancellation.
-- The Company has committed to subscribe to 6,666,667 Shares in
Cobre at a placement issue price of A$0.15 per share, subject to
Cobre shareholder approval. The meeting of the Cobre shareholders
took place on the 24 March 2023, with the sought authority being
approved; settlement of the subscription is due to take place
imminently.
-- The Company reduced its net investment in Sandfire in the SC
Lowy structure by 532,626 shares, realizing GBP1.8m.
Expected Timetable of Principal Events
Posting of Annual report on or around 28 April 2022
Notice of the AGM To be advised at a later date
Qualified Person's Statement
The technical information contained in this announcement has
been read and approved by Mr Nick O'Reilly (MSc, DIC, MAusIMM,
MIMMM,FGS), who is a qualified geologist and acts as the Qualified
Person under the AIM Rules Note for Mining and Oil & Gas
Companies. Mr O'Reilly is a Principal consultant working for Mining
Analyst Consulting Ltd which has been retained by Metal Tiger plc
to provide technical support
For further information on the Company, visit: www.metaltigerplc.com
Enquiries:
Enquiries:
Michael McNeilly (Chief Executive Officer) Tel: +44 (0)20 3287 5349
James Dance Strand Hanson Limited (Nominated Tel +44 (0)20 7409 3494
Richard Johnson Adviser)
Robert Collins
Simon Johnson Zeus Capital Limited (Broker) Tel: +44 (0)20 7614 5900
Alexandra Campbell-Harris
Gordon Poole Camarco (Financial PR) Tel: +44 (0)20 3757 4980
Elfie Kent
Rebecca Waterworth
Jessica Holland Tau Media (Financial PR) Tel: +61 (0) 408
855 855
Notes to Editors:
Metal Tiger PLC is admitted to the AIM market of the London
Stock Exchange AIM Market ("AIM") and the ASX Market of the
Australian Securities Exchange Market ("ASX") with the trading code
MTR and invests in high potential mineral projects with a base,
precious and strategic metals focus.
The Company's target is to deliver a high return for
shareholders by investing in significantly undervalued and/or high
potential opportunities in the mineral exploration and development
sector.
Equity Investments invests in undervalued natural resource
companies. The majority of its investments are listed on AIM, the
TSX and the ASX, which includes its interest in Sandfire Resources
Limited (ASX: SFR). The Company also considers selective
opportunities to invest in private natural resource companies,
typically where there is an identifiable path to IPO.
The Company actively assesses new investment opportunities on an
on-going basis and has access to a diverse pipeline of new
opportunities in the natural resources and mining sectors. For
pipeline opportunities deemed sufficiently attractive, Metal Tiger
may invest in the project or entity by buying publicly listed
shares, by financing privately and/or by entering into a joint
venture.
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END
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