Metal Tiger PLC higher after updates from Cobre Limited and Southern Gold
Good news from Cobre Limited and South Gold, in both of which Metal Tiger has significant holdings
() has welcomed the commencement of field exploration work at Cobre Limited’s Perrinvale project in Western Australia.
Cobre, in which Metal Tiger currently has a 16.62% stake, said an optimisation study of the project has brought about a step-change in the exploration approach.
As announced earlier this month, Metal Tiger will be buying more shares interested in Cobre as part of the latter’s fund-raising, while Metal Tiger also expects to be issued more Cobre shares subject to certain conditions being met, which would take its stake up to 21%.
In a separate announcement, the investor in natural resource companies drew attention to ’s quarterly activities report, released today.
Metal Tiger currently has a 17.72% stake in Southern Gold.
Southern Gold said commercial negotiations continued on the settlement of Southern Gold’s sale of 50% joint venture interests in the Gubong and Kochang project for US$9.95mln.
Discussions are in an advanced stage and an update to the market is expected in the coming quarter, Southern Gold said.
Shares in Metal Tiger were up 3.4% at 22.75p.
Read More: Metal Tiger PLC higher after updates from Cobre Limited and Southern Gold