UK junior ups Thor stake

AQUISITIVE Metal Tiger has bumped up its stake in Adelaide-based Thor Mining from to 11.24%, its second move on the junior this year, just weeks after injecting capital into the speculative venture.

UK junior ups Thor stake UK junior ups Thor stake UK junior ups Thor stake UK junior ups Thor stake UK junior ups Thor stake

Metal Tiger snapped up 2.2 million shares in trading on London’s Alternative Investment Market in the wake of a financing agreement that saw it pump in around £300,000 via a placement late in January – for which it paid a 20% premium to boost its stake from 8.7% to 10.87%.

In return for paying the premium, Metal Tiger has a 90-day first right of refusal to participate in any new joint venture, acquisition, or similar transaction undertaken by Thor.

The tungsten and copper hopeful’s interests have come into sharper focus and prices for both metals have risen, and it has been able to raise significant cash, some via in-the-money options, to ensure it is funded into 2019.  

Thor’s current strategy is to get the Molyhill tungsten project in the Northern Territory and th...