Metal Tiger PLC (AIM:MTR, OTC:MRTTF, ASX:MTR) said it sold 250,000 shares in Sandfire Resources Ltd at an average price of A$6.13 per share.

Following the sale, the investment company holds just over 8.2mln Sandfire shares, representing 2% of the issued share capital.

Of Metal Tiger’s holding in Sandfire, around 2.84mln shares are subject to an equity derivative financing arrangement with a global investment bank.

Metal Tiger subscribed for 3.3mln Sandfire shares at a total cost of A$17.8mln in early October as part of Sandfire’s placing with institutional investors.

Sandfire reported net profit of A$170mln in the year to 30 June 2021. Its net assets stood at A$910.57mln.

READ: Metal Tiger welcomes quarterly update from investee Cobre

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