I noticed this company in Shares Magazine last week, and liked the look of the company.

MetalTech is a metal-based chemicals company focusing on the production and recycling of speciality metals such as tungsten and molybdenum, with experience in hydrometallurgy and powder metallurgy processes. The MetalTech group has production facilities in Israel and Uzbekistan and anticipates commencing production in Mongolia during the third quarter of 2005.


The company has raised 10.5 million (before expenses) in a placing of 8,076,923 Ordinary Shares at a price of 130p per share (the Placing Price). On Admission, the Company will have 38,376,923 Ordinary Shares in issue and a market capitalisation, at the Placing Price, of approximately 50 million.



The net proceeds of the placing will be used principally by Metal-Tech for investment in new projects, expansion of current plant capacity, acquisition of new plants in Western Europe and the Americas and repayment of short-term debt.




Corporate website : http://www.metal-tech.co.il/index1.html