Metal Tiger plc (LON:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, has today announced that the Company has acquired an additional 270,000 shares in Sandfire Resources Limited (“Sandfire”), at an average price of A$4.02866 per share, for an aggregate net investment of A$1,087,739.61 (£547,665). This brings Metal Tiger’s total shareholding in Sandfire to 6,566,990 shares, representing approximately 3.69 per cent. of Sandfire’s issued share capital.
As announced on 17 December 2019, 1,675,125 of the Sandfire shares the Company holds are subject to the equity derivative collar financing arrangement with a global investment bank.
For the financial year ended 30 June 2019, Sandfire reported net profits of A$104,013,000 and gross assets of A$735,850,000.