Metal Tiger invest in Trident Resources

Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, has today announced that it has conditionally subscribed for 2,850,000 new ordinary shares of 1 pence each in Trident Resources PLC (LSE:TRR) at a price of 20 pence per share, for a total investment of £570,000 (US$700,000).

The Investment forms part of conditional placing of new ordinary shares by Trident, raising, in aggregate, £16 million (approximately US$20 million) in connection with its admission to trading on AIM. Admission of the issued share capital of Trident, as enlarged by the Placing, is expected to occur on or around 2 June 2020.

The Placing, and therefore Metal Tiger’s participation therein, remains conditional upon the requisite placing agreement becoming unconditional in all respects, certain shareholder approvals being received at Trident’s Annual General Meeting scheduled for 27 May 2020, and Admission.

Trident is a growth-focused, diversified mining royalty and streaming company, aiming to provide investors with exposure to a mix of base and precious metals, bulk materials (excluding thermal coal) and battery metals. Upon Admission, Trident’s share capital will comprise 103,500,000 ordinary shares, representing a market capitalisation, at the Placing Price, of approximately £20.7 million (approximately US$25.3 million). Metal Tiger’s Investment will represent approximately 2.75% of Trident’s issued share capital on Admission.

Trident’s announcement relating to the Placing can be found at the following link:

https://www.tridentresources.co.uk/news

Mark Potter, Director and Chief Investment Officer of Metal Tiger, is an independent Non-Executive Director of Trident.

For the year ended 30 December 2019, Trident reported net assets of US$4.1m and a net loss of US$0.7m.

Michael McNeilly, Chief Executive Officer of Metal Tiger plc, commented:

“This is an exciting new investment for Metal Tiger that provides shareholders with exposure to a recently established, high growth-focused royalty and streaming investment company for the mining sector. We are delighted that Trident is set to successfully launch on AIM, and we look forward to further updates from Trident as they focus on delivering on their strategy.”

Click to view all articles for the EPIC: ,
Or click to view the full company profile:
    Facebook
    Twitter
    LinkedIn
    Metal Tiger Plc

    More articles like this

    Metal Tiger Plc

    Top banks say gold may see a record rally by 2021

    Morgan Stanley, JPMorgan, and Goldman Sachs all foresee the gold price rallying by 2021. According to a research paper from Bloomberg, the precious metal’s uptrend can fuel a Bitcoin upsurge. Top financial institutions in the U.S. attribute

    Metal Tiger Plc

    Copper’s fifth weekly gain

    Copper prices were heading for a fifth consecutive weekly gain on Friday as inventories declined and stock markets rose while demand improved in top consumer China. Investors are increasingly optimistic about an economic rebound, with the

    Metal Tiger Plc

    Copper secures fourth consecutive weekly rise

    Copper futures’ prices rose on Friday and had coffered their fourth consecutive weekly percentage gain as a significant scale of decline in inventories has been pointing towards a turnaround in demands, while traders across the globe were

    Metal Tiger Plc

    Cooper jumps to 20-week high

    Shanghai copper jumped on Wednesday to its highest level in nearly 20 weeks, recouping almost all of its losses caused by the COVID-19 pandemic on strong demand in China and low stocks. The most-traded July copper

    Metal Tiger Plc

    Copper gains on Trump’s mild Hong Kong response

    Copper prices rose on Monday on solid manufacturing data from China and a milder-than-expected response by the U.S. President Donald Trump on China’s security legislation for Hong Kong. Trump on Friday ordered the process of eliminating

    Metal Tiger Plc

    Metal Tiger Critical turning point for the Company

    Metal Tiger plc (LON:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, has this morning announced its audited results for the year ended 31 December 2019. Highlights: Sale of the Group’s 30% interest in

    Metal Tiger Plc

    Preparing for more EVs

    In its 2019 EV Outlook, Bloomberg New Energy Finance (BNEF) gives an overview of where things stand and where they are heading in the electric vehicle (EV) market, both in Europe and globally. The report predicts that

    Metal Tiger Plc

    Metal Tiger complete further financing arrangement

    Metal Tiger plc (LON:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, has today announced that, further to the Company’s announcement of 17 December 2019, it has entered into a further equity derivative

    Metal Tiger Plc

    Copper rises on demand hopes

    Copper prices climbed on Monday as the reopening of economies paralyzed by the coronavirus crisis boosted hopes of a revival in demand for metals. Three-month copper on the London Metal Exchange (LME) rose 1% to $5,234.50

    Metal Tiger Plc

    Copper-coated doorknobs to kill COVID?

    Copper-coated doorknobs are the latest weapon in the world’s fight to control the spread of COVID-19. A Melbourne-based 3D printing company has so far installed copper doorplates and doorknobs at several government facilities and universities but