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Metal Tiger invests in platinum-copper-nickel explorer Palladium One Mining


Metal Tiger PLC (LON:MTR) told investors it has made an investment of C$99,000 (roughly £56,000) in Palladium One Mining Inc (TSXV:PDM) as part of wider funding.

The AIM-listed natural resources investor subscribed for 340,000 units at a price of C$0.29 per unit, with each unit consisting of one ordinary share in Palladium One and one-half of a warrant to buy a share exercisable at a price of C$0.45 any time prior to 24 February 2023.

Palladium One, which raised a total of C$15mln from investors, is an explorer targeting district-scale deposits of platinum group element, copper and nickel in Finland and Canada.

Its flagship project is the Lantinen Kollismaa project, a palladium dominant platinum group element-copper-nickel project in north-central Finland.

For the nine months to the end of last September, Palladium One reported a net loss of roughly C$3mln and net assets of close to C$2mln.

Earlier on Thursday, Metal Tiger noted that ASX-listed Sandfire Resources, in which it owns a 3.5% stake, had announced an interim dividend of A$0.08 per share alongside its half-year results.

This should result in the London-listed company receiving a dividend of A$276,345 (circa £155,000).

Metal Tiger is currently interested in 6,296,990 Sandfire shares, of which 2,842,667 shares held by the company are subject to an equity derivative financing arrangement with a global investment bank.

The dividend received on the shares subject to the equity derivative financing arrangement will lower the outstanding loan balance by A$227,413.

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