Metal Tiger PLC (LON:MTR) has subscribed for 142,857 shares in Catalyst Metals Ltd (ASX:CYL) at a price of A$2.10 each, for a total investment of approximately A$300,000.
The investment comes as part of a wider A$18mln fundraise from Catalyst.
Following completion of the raise and a parallel share purchase plan to allow directors to participate Metal Tiger will hold around 0.15% of Catalyst’s issued share capital.
Catalyst is a mineral exploration company which holds interests in advanced gold projects in Victoria, Australia. The company is planning major exploration programs in the Bendigo district in 2021, comprising around 80,000 metres of drilling.
This will include 30,000 metres of drilling focused on the Boyd’s Dam project, targeting a planned maiden JORC Resource in 2021, and 50,000 metres drilling targeted at the Tandarra, Drummartin, Boort, Toolleen and Golden Camel projects, where high-grade gold mineralisation has been discovered.
Furthermore, Catalyst is seeking to acquire the Henty Gold Mine and associated Tasmanian exploration tenements from Diversified Minerals Pty Ltd.
