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Metal Tiger PLC - AIM-listed investor in natural resource opportunities - Announces sale of 1.3 million shares in Sandfire Resources Ltd at A$5.36 per share, raising approximately A$6.9 million. Metal Tiger uses part of the proceeds to take up its pre-emptive rights in the retail component of Sandfire’s entitlement offer, for an investment in 473,215 new shares at A$4.3 per share worth A$2.0 million. Metal Tiger says A$1.0 million will be used for working capital, while the remaining A$3.9 million will be used to reduce the outstanding loan balance to approximately A$850,000.
Current stock price: 11.45 pence, down 0.4% on Wednesday morning in London
12-month change: down 46%
By Harvey Dorset, Alliance News reporter
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