https://www.miningweekly.com

Metal Tiger sells and buys Sandfire shares

7th December 2022

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX- and Aim-listed Metal Tiger has generated A$6.9-million in proceeds from the sale of 1.3-million shares in fellow listed Sandfire Resources, at A$5.35 a share.

The company said on Wednesday that it has used part of the proceeds of the share sale to take up its pre-emptive rights in the retail component of Sandfire’s A$200-million capital raise, investing just over A$2-million for an additional 473 215 shares in the company at a price of A$4.30 each.

Following the disposal of the 1.3-million shares, Metal Tiger’s interest in Sandfire reached 1.29%, and following the entitlement offer transaction, its shareholding in the company now stands at 1.39%.

Meanwhile, Metal Tiger told shareholders that A$3.8-million of the proceeds from the share sale had been used to reduce the loan balance outstanding under the Margin Lending Facility to around A$0.85-million.

Edited by Creamer Media Reporter

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION