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Private equity firm Grassroots Exploration takes stake in Metal Tiger

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Mining focused private equity firm Grassroots Exploration has taken a 3.6% stake in junior resource investor Metal Tiger (LON:MTR). 

A stock exchange statement this morning revealed the purchase of 9.7mln shares made by the company at the end of April.

Grassroots was set up by Triton Minerals non-executive chairman Alan Jenks last year.

Along with its stake in Metal Tiger, Jenks’ business has already invested into Paragon Diamonds (LON:PRG) and iron ore company Ferrum Crescent (LON:FCR). 

Metal Tiger, meanwhile, has holdings in three AIM firms which it believes are on the cusp of major commercial development. 

To date, it has put £450,000 into Kibo Mining (LON:KIBO), £150,000 into Eurasia Mining (LON:EUA) and £175,000 into Ariana Resources (LON:AAU).

Its direct equities division is designed to generate short, medium and long term returns, with cash invested into the direct projects division to advance opportunities to create value. 

Other private equity houses Black Star Gold, Goldbondsuper also own stakes in Metal Tiger, while natural resources investor Paternoster Resources (LON:PRS) has a 10% stake. 

Metal Tiger shares climbed 1% to 0.93p.

Quick facts: Metal Tiger PLC

Price: 1.05 GBX

AIM:MTR
Market: AIM
Market Cap: £15.98 m
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