By HotStockRockets | Sunday 2 July 2017
Disclosure: Financial Investigative Media Limited, which is not owned by Tom Winnifrith but by a trust for his dependants, owns shares in companies mentioned in this article. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Metal Tiger (MTR) has announced 2016 results and emphasised “encouraging” progress in the first half of 2017…
The 2016 year saw a net £5.7 million of new equity raised with, after operational loss and £2.4 million investing activities outflow, cash increased by £1 million to £1.4 million. Year-end current assets over total liabilities were £5.5 million and the company has since raised an additional £4.85 million to further progress its main direct project interests.
These are the subject of the emphasised “encouraging” progress in the first half of 2017; this noted to be “in the technical and environmental workstreams for the pre-feasibility study in Botswana with our JV partners MOD Resources; and the completion of the PEA and CPR on the lead, zinc, silver mine in Thailand, which provides progress towards it achieving operating status”.
It is added that next month from Botswana “it is expected that an upgrade to the Zone 1 and Zone 2 Mineral Resource Estimate will be completed which will result in an improved economic outlook for the pre-feasibility study” and that the company continues with “an IPO process with regard to seeking admission to AIM of its interests in Thailand”.
The announcement also includes “the board believes that Metal Tiger is in a strong position to take advantage of a recovery in the natural resource sector” and follows our prior updates noting we’re looking to near-term drilling and resource news from Botswana and progress towards a Thai asset spin-off on AIM by October to be real catalysts for the shares. Thus, despite recent share price disappointment here, we continue to currently retain this as a BUY.
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