REG - Tiger Royalties&Invs - Quarter end NPV update

Tiger Royalties and InvestmentsAnnouncement

11/04/2022 07:01

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RNS Number : 8703H  Tiger Royalties and Investments PLC  11 April 2022

For immediate
release

          11 April 2022

Tiger Royalties and Investments Plc

('Tiger' or 'the Company')

 

Quarter-end NPV Update

 

The unaudited portfolio value ("PV") (based on investments and cash only) at
31 March 2022 was 0.20 pence (31 December 2021 - 0.18 pence), both per
ordinary share.

 

Investments held by the Company as at 31/03/22

 

 Name                                  Number of shares  Share price  Valuation
                    £                  £
 African Pioneer Plc (note 2)          8,810,056         0.0290       255,492
 Bezant Resources Plc                  83,870,371        0.0019       159,354
 Block Energy Plc                      625,000           0.0120       7,500
 Caerus Mineral Resources Plc          1,000,000         0.1325       132,500
 Corallian Energy Limited (note 3)     13,618            N/A          20,427
 Galileo Resources Plc                 6,516,667         0.0100       65,167
 Goldquest Mining Corp.                173,500           0.1744       30,260
 Jubilee Metals Group Plc              1,169,600         0.1466       171,463
 Kendrick Resources Plc (note 4)       83,000            0.0000       -
 Reabold Resources Plc (note 3)        3,025,068         0.0036       10,890

 Total Investments                                                    853,053

 

Notes:

 

1)   The above PV calculation is based on 443,442,308 Ordinary shares with a
nominal value of 0.1 pence each ("Ordinary Shares") being the Company's issued
share capital of 447,942,308 Ordinary Shares less 4,500,000 Ordinary Shares
held in treasury.

 

2)    African Pioneer Plc's  ("APP") shares comprising 189,459,550
ordinary shares of zero par value each in the capital of the company
("Ordinary Shares") were  admitted to the Official List (Standard Segment)
and to trading on the Main Market for listed securities of the London Stock
Exchange on 1 June 2021.  Tiger's current holding in APP is 8,810,056
Ordinary Shares representing a 4.65% interest in APP following Admission.
 

 

3)   Tiger currently holds 13,618 shares in Corallian Energy Limited
("Corallian").  Reabold Resources Plc ("Reabold") acquired Corallian shares
from existing shareholders in exchange for Reabold shares, at a ratio of 474
Reabold shares for 1 Corallian share on 10 May 2021.  As part of this offer,
Tiger disposed 6,382 Corallian shares in exchange for 3,025,068 shares in
Reabold Resources Plc.

 

4)   The shares of Kendrick Resources Plc ("Kendrick") were suspended at the
company's request on 7 February 2018 and subsequently de-listed in August
2018.  This investment is currently carried at zero valuation. Kendrick has
since entered into assignment agreements to acquire Pursuit Minerals
Limited's  ("Pursuit") interests in the following Projects

 

1. the Koitelainen, Karhujupukka North and Karhujupukka South projects in
Finland;

2. the Airijoki, Kullberget, Sumassjon, Kramsta and Simesvallen projects in
Sweden; and

3. the Hosanger, Espedalen and Sigdal projects in Norway,

(together, the "Nordic Projects").

 

The Nordic Projects comprise vanadium projects in Sweden and Finland which are
owned by Pursuit consist of well drilled tonnages of vanadium ore, estimated
at approximately 160 million tonnes. The Norwegian projects are for nickel and
are under an option agreement with Eurasian Minerals Sweden AB and have been
partially explored with reconnaissance programmes indicating the potential for
strike extension. Kendrick is now focussed on completing a listing on the
standard segment of the LSE with the Nordic Projects as its primary assets and
is looking to raise funds at the time of the listing to support exploration of
the Nordic Projects and the company's ongoing working capital requirements.

 

5)   Cash funds held by the Company at 31 March 2022 amounted to
£22,052.37.

 

6)   All reporting is made on a quarterly basis and accordingly the next
announcement will disclose the PV per share and investments at 30 June 2022.
The Company will disclose its investments on a quarterly basis when disclosing
its PV.

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

For further information please contact:

 

 Tiger Royalties and Investments Plc  Raju Samtani, Director                                        +44 (0)20 7581 4477
 Beaumont Cornish (Nomad)             Roland Cornish                                                +44 (0)20 7628 3369

                                      Felicity Geidt
                                      Email:corpfin@bcornish.co.uk (mailto:corpfin@bcornish.co.uk)

 Novum Securities Plc                 Jon Belliss                                                   +44 (0)20 7399 9425

(Broker)

 
 

 

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