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P-ssed off keep trying to get to 3.4 in prospectus !! Can someone paste it or write it down plz
This is what I mean H;
. Investors can refer to section 3.4 Overview of Investment for further information.
Hi TF1, copy/paste below:
------------------------------------------------------------------------
Overview of Investments
Tiger's investments are separated into three categories, which are detailed below.
Metal Tiger's investment portfolio is constantly evolving and the Board may in the future
further diversify its interests across a range of project investments, royalty agreements,
passive and active investments and any other investments the Board considers
appropriate. The investments detailed in the document are Metal Tiger's material
investments as at the date of this Prospectus.
(a) Passive equity investments
(i) Sandfire Resources Limited (Sandfire Resources)
Sandfire Resources is an ASX listed (ASX:SFR) mid-tier mining and exploration company. Sandfire Resources operates the high-margin Degrussa Copper-Gold Mine, located 900km north of Perth, Western
Australia. Sandfire Resources also has development and exploration projects in North America and Botswana. The Company holds 6,143,357
ordinary shares in Sandfire Resources as of 29 July 2021 representing a 3.4% shareholding.
Metal Tiger has an Equity Option and Loan Facility Master Agreement (Financing Arrangement) with Macquarie bank that allows it to enter into certain covered derivative contracts over its
equity holdings.
On 17 December 2019, Metal Tiger announced that it had entered into an equity derivative collar financing arrangement (First Financing Arrangement) with the same bank. The First Financing Arrangement resulted in AUD$8.17 million, secured over 1,675,125
Sandfire Resources shares held by Metal Tiger, representing approximately 0.94% of Sandfire Resources issued share capital.
On 20 May 2020, Metal Tiger announced that it had entered into a further equity derivative collar financing arrangement (Second
Financing Arrangement) with the same bank. The Second Financing Arrangement is secured over, in aggregate, 328,798 Sandfire Resources shares held by Metal Tiger, representing approximately 0.18% of Sandfire Resources issued share capital.
On 9 June 2020, Metal Tiger entered into a further equity derivative collar financing arrangement (Third Financing Arrangement) with the same bank. The Third Financing Arrangement is secured over, in aggregate 289,109 Sandfire Resources shares held by Metal Tiger, representing approximately 0.16% of Sandfire Resources issued share capital.
#2:
On 13 July 2020, Metal Tiger entered into a further equity derivative collar financing arrangement (Fourth Financing Arrangement) with
the same bank. The Fourth Financing Arrangement is secured over, in aggregate 280,141 Sandfire Resources shares held by Metal Tiger, representing approximately 0.16% of Sandfire Resources issued
share capital.
On 31 July 2020, Metal Tiger entered into a further equity derivative collar financing arrangement (Fifth Financing Arrangement) with the same bank. The Fifth Financing Arrangement is secured over, in
aggregate 36,714 Sandfire Resources shares held by Metal Tiger, representing approximately 0.02% of Sandfire Resources issued
share capital. On 8 December 2020, Metal Tiger entered into a further equity derivative collar financing arrangement (Sixth Financing
Arrangement) with the same bank. The Sixth Financing Arrangement is secured over, in aggregate, 232,789 Sandfire Resources shares held by Metal Tiger, representing approximately 0.13% of Sandfire Resources issued share capital.
In aggregate, the financing arrangements entered into by Metal Tiger are secured over 2,842,667 Sandfire Resources shares held by Metal Tiger, representing approximately 1.59% of Sandfire Resources'
issued share capital.
#3:
(ii) Pan Asia Metals Limited (Pan Asia)
Pan Asia is an ASX-listed (ASX:PAM), Singapore registered minerals exploration and development company with tungsten and lithium projects located in southern Thailand. The company is specifically
focused on South East Asia for both geological and economic reasons. The company has 4 main projects, with 3 projects located in Thailand and 1 project located in Australia. The projects in Thailand
include the Reung Kiet and Bang Now Lithium Projects and the Khao Soon Tungsten Project. In Australia they own the Minter Tungsten Project in New South Wales. Metal Tiger holds 5,553,174 shares in
Pan Asia for circa 4.4% of the issued share capital of the company.
(iii) Australian Gold and Copper Ltd (Australian Gold and Copper) Australian Gold and Copper is a gold and copper exploration company with three drill ready projects in the established mining district of New South Wales. All three projects contain multiple targets identified from considerable historical exploration data, including drilling, and have geological continuity with existing mines.
Metal Tiger has 500,000 shares in Australian Gold and Copper, representing circa 0.5% of the issued share capital of the company.
(iv) Aurelius Minerals Inc. (Aurelius Minerals)
Aurelius Minerals is a gold exploration company listed on the TSX Venture Exchange market of the Toronto Stock Exchange advancing
four deposit scale projects in Nova Scotia, Canada, all with historical resources, and two district scale projects in Ontario, Canada, one with a historical resource. Metal Tiger holds 250,000 shares in Aurelius Minerals for circa 0.7%
of the issued share capital of the company. Metal Tiger also holds 100,000 warrants exercisable at C$0.70 per share and expiring on 15 July 2022.
#4:
(v) Artemis Resources Limited (Artemis Resources)
Artemis Resources is an ASX-listed (ASX:ARV) exploration and development company with gold projects in the Pilbara region of Australia - the Greater Carlow gold-copper-cobalt development project in the West Pilbara and the Paterson Central gold exploration project in the East Pilbara. Artemis Resources is currently pursuing exploration drilling activities across both projects with an objective to
identify multi-million ounce gold resources.
Metal Tiger holds 14,042,459 shares in Artemis Resources for circa 1.1% of the issued share capital of the company.
(vi) Pan Global Resources Inc (Pan Global)
Pan Global is a Vancouver based junior resource company actively engaged in base and precious metal exploration in Spain, with two projects, the Aguilas project and the Escacena Project. Pan Global is
quoted on the TSX Venture Exchange market of the Toronto Stock Exchange.
Metal Tiger holds 890,000 shares in Pan Global for circa 0.5% of the issued share capital of the company. Metal Tiger also holds 694,444 warrants exercisable at CAD$0.28 and expiring 20 July 2022.
#5:
(vii) Tanga Resources Limited (Tanga Resources)
Tanga Resources is an ASX listed (ASX:TRL) explorer with large-scale landholdings in two fertile gold belts near million-ounce deposits. The company has over 3,000 km2 of exploration tenure (via
joint ventures) in Cote d’Ivoire with 2 advanced projects (ex-Newcrest), both with drill-ready targets. The company also has circa 3,000 km2 of exploration tenure in Namibia in the Damara belt via
joint ventures.
Metal Tiger holds 2,500,000 shares in Tanga Resources for circa 0.7% of the issued share capital of the company.
(viii) Los Cerros Limited (Los Cerros) Los Cerros is an ASX listed (ASX:LCL) gold explorer and developer
in Columbia. Los Cerros has two projects, being the Quinchia Gold Project (comprising the Miraflores, Tesorito and Chuscal gold deposits), and the Andes Gold Portfolio.
Metal Tiger holds 2,125,000 ordinary shares in Los Cerros for circa 0.3% of the issued share capital of the company.
(ix) Geopacific Resources Limited (Geopacific Resources) Geopacific is an ASX listed (ASX:GPR) gold-copper development company. Its primary focus is the development of the 1.6Moz
Woodlark Gold Project in Papua New Guinea. The company is targeting first gold production for end of 2022.
Metal Tiger holds 250,000 ordinary shares of Geopacific Resources representing circa 0.05% of the issued share capital.
#6:
(x) Millennial Silver Corp (Millennial Silver)
Millennial Silver is an acquisition company that engages in the acquisition, exploration and evaluation of mineral properties.
Metal Tiger holds 150,000 shares in Millennial Silver which represents circa 0.1% of the issued share capital.
(xi) Thor Mining plc (Thor Mining)
Thor Mining is an AIM-quoted and ASX listed (ASX:THR) mining company with copper, gold and tungsten projects in Australia and the United States of America. Metal Tiger has an investment of 9,250,000
ordinary shares representing circa 0.6% of the issued ordinary share capital of Thor Mining. Metal Tiger also has 12,500,000 warrants exercisable at GBP 0.01 and expiring 23 October 2022.
Mark Potter, Executive Director and Chief Investment Officer of Metal Tiger, is a Non Executive Director of Thor Mining.
(xii) Apollo Gold and Silver Corp (Apollo)
Apollo Gold and Silver Corp. is advancing its portfolio of three significant pure silver development projects; the historical Waterloo and Langtry Deposits, in San Bernardino California and the Silver District Project in Arizona with significant historic drilling database
with large exploration upside with new unexplored land packages. Metal Tiger has an investment of 220,000 ordinary shares representing circa 0.1% of the issued share capital of Apollo. Metal Tiger also has 110,000 warrants exercisable at C$1.25 and expiring 5
July 2023.
#7:
(xiii) Avidian Gold Corp (Avidian)
Avidian has gold and copper exploration properties located in Alaska and the USA, as well as a majority stake in a privately owned battery metals and iron ore company. Metal Tiger has an investment of
1,000,000 ordinary shares representing circa 0.6% of the issued share capital of Avidian. Metal Tiger also has 500,000 warrants exercisable at C$0.20 and expiring 8 June 2024.
(xiv) Barton Gold Pty Ltd (Barton) Barton Gold is an Australian gold exploration company with a total
attributable ~1.1Moz Au mineral resources endowment (28.74Mt @ 1.2 g/t Au), a pipeline of advanced exploration projects and brownfield mines, and 100% ownership of the only regional gold mill
in the central Gawler Craton of South Australia. Metal Tiger has an investment of 800,000 ordinary shares representing circa 0.5% of the issued share capital of Barton.
(xv) Inflection Resources Ltd (Inflection)
Inflection is exploring for large copper-gold and gold deposits in the northern interpreted extension of the Macquarie Arc, part of the Lachlan Fold Belt in New South Wales. The Macquarie Arc is Australia’s premier porphyry gold-copper province being host to Newcrest Mining’s Cadia deposits, the CMOC Northparkes deposits and Evolution Mining’s Cowal deposits Resources Ltd (Inflection).
Metal Tiger has an investment of 468,750 ordinary shares representing circa 0.7% of the issued share capital of Inflection.
Metal Tiger also has 234,375 warrants representing exercisable at C$0.50 and expiring 14 May 2023.
(xvi) Moxico Resources (Moxico) Moxico owns and operates the Mimbula Project in Zambia, a cathode
copper producer. Mimbula has a large-scale mining licence for 25 years and a JORC Resource of 93.7 million tonnes at a copper grade of 0.97%. Metal Tiger holds 500,000 ordinary shares representing circa 0.1% of the issued share capital of Moxico.
#8:
(xvii) Mt Malcolm Mines NL (M Malcolm) Mt Malcolm is a Western Australian gold exploration company focussed on the Mt Malcolm Gold Project on the western margin of the Keith-Kilkenny Tectonic Zone, located in Western Australia’s Leonora-Laverton gold region. Mt Malcolm has a ~200 km2 land package on an under-explored greenstone belt. Metal Tiger holds 500,000 ordinary shares representing circa 1.2% of the issued share capital of Mt Malcolm.
(xviii) Tier One Silver Inc (Tier One Silver) Tier One Silver is an exploration company focused on the discovery of world-class silver, gold and base metal deposits in Peru. The Company’s exploration assets include: Hurricane Silver, Emilia, Coastal Batholith, Corisur and the flagship silver-gold project, Curibaya. Metal Tiger holds 97,500 ordinary shares representing circa 0.1% of the issued share capital of Tier One Silver.
(xix) Camino Minerals Corporation (Camino)
Camino is a discovery and development stage copper exploration company that undertakes exploration in Peru. Its focus is on acquiring a portfolio of advanced copper assets that have the potential to deliver copper into the economy. It is comprised of the Maria Cecilia Project, Los Chapitos Project and Plata Dorada Project. It is listed on the Toronto Stock Exchange.
Metal Tiger holds 5,882,353 ordinary shares in Camino, representing circa 3.4% of the issued share capital of the company. Metal Tiger also holds 2,941,176 warrants at an exercise price of C$0.25 expiring on 18 May 2023.
#9:
(xx) Cannon Resources Limited (Cannon)
Cannon is a mineral exploration company, established to implement the demerger currently being undertaken by Rox Resources Limited (ASX:ROX) for the purpose of maximising the value of the Fisher
East Nickel Project and the Collurabbie Nickel Projects. It is due to list on the ASX in August 2021. Metal Tiger holds 250,000 ordinary
shares representing 0.33% of the issued share capital of Cannon. Metal Tiger also holds 83,333 warrants at an exercise price of A$0.20 expiring on 30 June 2024.
(xxi) First Light Capital Corp / Anacortes Mining Corporation (Anacortes) Metal Tiger holds 1,250,000 ordinary shares in First Light Capital Corp (“First Light”), a capital pool under the policies of the TSX
Venture Exchange, at an issue price of C$0.40 per Unit for a total consideration of approximately C$500,000 (c. £287,920). First Light entered into a definitive agreement dated 16 June 2021 with New Oroperu Resources Inc (“New Oroperu”) to combine entities and form Anacortes Mining Corporation (“Anacortes”), a new growth-oriented gold company in the Americas. Anacortes will initially be focused on continued exploration and advancement of the Tres Cruces gold
project located in Peru. Tres Cruces is one of the highest-grade oxide deposits globally and hosts oxide plus sulphide Indicated resources of 2.474 Mozs at 1.65 g/t gold and Inferred resources of 104 kozs at
1.26 g/t gold, inclusive of 630 kozs of high-grade leachable gold at 1.28 g/t gold. Metal Tiger’s investment forms part of a capital raise by First Light of C$22.0 million. Following completion of the business combination, Metal Tiger will hold approximately 0.5% of the issued share capital of Anacortes Mining Corporation. Metal Tiger also holds
625,000 warrants at an exercise price of C$0.55 expiring on 22 July 2023.
#10:
(b) Active equity investments
(i) Cobre Limited (Cobre) Cobre is an ASX listed (ASX:CBE) resource exploration company with prospective projects in Western Australia in copper, gold, silver and zinc. The Company holds 26,006,963 ordinary shares representing 16.62% of Cobre's issued ordinary share capital of Cobre. Metal Tiger is interested in an additional 8,311,765 new ordinary shares at a price of $0.17 per share, subject to Cobre shareholder approval of Metal Tiger's participation in the fundraise. Following shareholder approval and completion of the fundraise, Metal Tiger will
hold 34,318,728 shares, representing 20.72% interest in Cobre.
In addition, Metal Tiger expects to be issued a further 445,368 shares, subject to obtaining change in control approval from the Minister of Mineral Energy and Water Resources of the Republic of Botswana in respect of the KML group. Assuming all further
issuances occur, Metal Tiger would be interested in approximately 21% of Cobre.
Michael McNeilly, Executive Director and Chief Executive Officer of Metal Tiger, has been appointed to the board of Cobre as a nominee Non-Executive Director representing Metal Tiger.
(ii) Southern Gold Limited (Southern Gold)
Southern Gold is an ASX listed resource exploration and development company with gold epithermal exploration properties in South Korea. Metal Tiger currently holds 40,794,000 shares representing 19.1% of the issued share capital of Southern Gold as
well as 7,284,500 A$0.18 warrants expiring on 19 October 2022.
Michael McNeilly was appointed on 5 June 2020 as a non-executive director of Southern Gold. At Southern Gold's annual general meeting held on 26 November 2020, Michael McNeilly, Executive Director and Chief Executive Officer of Metal Tiger was appointed as
a director of Southern Gold.
#11:
(iii) Armada Exploration Limited (Armada)
Armada is a Mauritian holding company which owns 100% of Armada Exploration (Gabon) SARL. Armada was establish to define new belt-scale discovery opportunities for key commodities (principally nickel
and copper) in under-explored regions of Africa. It currently holds two exploration licences, prospective for magmatic Ni-Cu sulphide, in Gabon, covering a total area of nearly 3,000km2. The licence holding
is considered to present a frontier district-scale exploration opportunity.
Metal Tiger has subscribed for 5,000,000 shares for total consideration of US$750,000 via a promissory note with US$350,000 to be invested up front and the remaining consideration to be paid in monthly instalments over a period of 5 months. Metal Tiger holds an 18.5% direct interest in the share capital of Armada. Metal Tiger also holds an indirect interest in Armada, via its 16.62% holding in Cobre, which holds an 18.5% interest in Armada.
Metal Tiger has received 3,333,333 36-month options issued at US$0.225, which will potentially be repriced as part of the planned ASX IPO. Metal Tiger also has the right to appoint a director to the Board of Armada (or equivalent top co, in the event of a restructuring
as part of a listing). Michael McNeilly has been appointed as a Director to Armada Metals Limited, the planned Australian entity list-co but no restructuring has taken place as at the time of this
prospectus.
The Company also has an investment portfolio in a number of other private and publicly listed mining equities which fall under the Company's passive
investments portfolio. These investments are smaller positions and represent less than 5% of the Company's net asset value as at the date of this Prospectus.
(c) Project investments
The Company holds an interest in a mining project located in the Republic of Botswana. The project investment comprises an equity investment and a joint venture arrangement with Kalahari Metals Ltd (Kalahari Metals). As announced on 12 April 2021, the Company has a 50.01% interest in Kalahari Metals, a
private copper exploration company with direct and indirect exposure to twelve exploration licences in the Kalahari Copper Belt covering 8,714km2. Cobre holds
the remainder of the shareholding.
On 15 December 2020, Kalahari Metals signed a Share Purchase Agreement and Shareholders Agreement with Cobre, pursuant to which, Cobre agreed to
purchase 49.99% of Kalahari Metal's shares, in exchange for issued shares in Cobre. Upon completion of the transaction, and subject to obtaining change in
control approval from the Minister of Minerals, Energy and Water Resources of the Republic of Botswana, Cobre will increase its shareholding in Kalahari
Metals to 51% and Metal Tiger will reduce its shareholding to 49%.
#12:
On 6 April 2020, the Company announced that Cobre shareholders voted in favour of the conditional acquisition by Cobre of 51% of the issued share capital in Kalahari Metals, and as such, all conditions of the Transaction were satisfied, save for final receipt of the change in control approval from the Minister of
Minerals, Energy and Water Resources of Botswana.
On 12 April 2021, the Company announced that the transaction completed with Cobre purchasing 49.99% of Kalahari Metal's shares in exchange for 20,999,214
newly issued ordinary shares in Cobre. Metal Tiger received 5,106,963 new Cobre Shares, increasing its holding to 26,006,963 Cobre Shares, representing
approximately 16.62% of Cobre's enlarged share capital. Following the transfer, Metal Tiger holds 50.01% interest in Kalahari Metals with Cobre holding the remaining interest.
On 19 April 2021, Metal Tiger announced that the joint venture board of Kalahari Metals approved a major new drilling programme focussed on the discovery of
copper/silver deposits on the Kalahari Copper Belt.
On 11 May 2021, drilling commenced on the Kitlanya East Project are in Botswana.
For further information, refer to section 10.3(b).
#13:
3.5 Royalties
In addition to its investments in quoted and unquoted companies and projects, Metal Tiger currently has four separate royalty agreements in place.
(a) A USD$2 million capped 2% net smelter royalty over Sandfire Resources' T3 Project in the Kalahari Copper Belt (Sandfire Resources T3 Project).
(b) An uncapped 2% net smelter royalty over any future production over Sandfire Resources' 100% held subsidiary Tshukudu Exploration Limited’s 8,000km2
licence holding in the Kalahari Copper Belt (Sandfire Resources Kalahari Copper Belt Royalty). This covers the recently announced A4 Indicated and Inferred Mineral Resource of 9.8Mt at 1.4% Cu and 21g/t Ag for 134,000t of contained copper and 6.6Moz of contained silver (using a 0.5% Cu cut-off) which forms part of Sandfire’s planned expansion plans from 3.2Mtpa to 5.2Mtpa at the Motheo Copper Mine. As per Sandfire’s release on 21 July 2021, a maiden Ore Reserve is anticipated to be completed during the December 2021 Quarter and a Feasibility Study is due in the March 2022 Quarter.
(c) An uncapped conditional 2% net smelter royalty over all of Kalahari Metals' wholly owned licences, being seven licences covering, in aggregate, 6,650km2
. These are structured as two separate royalty agreements based on how the licenses are held under Kalahari Metals corporate structure but the ultimate guarantor is Kalahari Metals. There is no obligation to invest further capital into Kalahari Metals (Kalahari Metals Royalty).
For further information, refer to section 10.3(d).
That's all of it TF1., got there eventually.
Would only do this for the stalwarts on this BB :)
All the best
Geckos
Legend my friend absolute legend and many thanks.
Fiercey
Should I be concerned about this recent SP erosion? I am a LTH and can see the long term story here, but these reverses try even the most patient!
Thanks Hydrogen, and as a corollary therefore, you think the SP deterioration is simply because we have no news yet and therefore subject to the market making a turn?
Another top up purchase for me this morning @22.3p. My guess is that the 22p mark is now a support level for MTR, but I’ll be back for more if we continue drifting down towards 20p.
What's your target sell price Chestec?