{"id":42436,"title":"Metal Tiger purrs for Mod Resources","publisher":"Share Talk","author":"sharetalk","published":"2018-07-19T06:02:42+00:00","modified":"2018-07-19T06:02:42+00:00","canonical_url":"https://www.share-talk.com/metal-tiger-purrs-for-mod-resources/","markdown_url":"https://www.share-talk.com/metal-tiger-purrs-for-mod-resources.md","json_url":"https://www.share-talk.com/metal-tiger-purrs-for-mod-resources.json","category":"Mining","categories":["Mining"],"tags":["Botswana","COPPER","Metal","MOD","Mod Resorces","MTR","Tiger"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1","format":"news","language":"en-GB","content":" \n\nBritish firm Metal Tiger might have backed away from its summer catfight [with the board of Kingsgate Consolidated](https://www.afr.com/business/mining/kingsgate-consolidated-activist-metal-tiger-maintains-rage-despite-selldown-20180123-h0muca), but it continues to prowl around the ranks of ASX-listed base and precious metal miners.\n\nStreet Talk can reveal Metal Tiger is about to cash out of a copper and silver prospect in Botswana in return for equity in an Australian listed company.\n\nMetal Tiger owns 30 per cent of a copper joint venture with Mod Resources, and it is understood that Mod is keen to buy out its partner in exchange for about $25 million worth of scrip.\n\nThe joint venture is focused on the T3 copper discovery in the Kalahari region of Botswana; the same region where the glass bottle was famously tossed out of the plane in the cult 1980 South African film *“The Gods Must Be Crazy”*.\n\nThe deal could be announced as early as Wednesday and suggests Metal Tiger is keen to get things done in a friendly fashion after its hostile, activist campaign against Kingsgate.\n\nMetal Tiger is already the third biggest holder in Mod with about 5.6 per cent, according to Bloomberg data, meaning the deal could catapult it to become the biggest holder.\n\nThat honour currently rests with AustralianSuper, which owns about 7.3 per cent of Mod.\n\nMod’s market capitalisation was about $111 million on Tuesday, and the deal comes at a time when all the world’s big miners are looking for reasonably priced copper acquisitions.\n\nWith sellers demanding high prices for copper assets ahead of an expected shortage of supply in coming years, miners are known to be looking at smaller, earlier stage assets, as demonstrated by [OZ Minerals’ recent $440 million acquisition of Avanco Resources.](https://www.afr.com/business/mining/copper/oz-minerals-has-appetite-for-more-deals-than-just-avanco-20180417-h0yv64)\n\nSternship Advisers is advising MOD, capping a hot streak for the boutique firm.\n\n \n\nBy [Sarah Thompson & ](https://www.afr.com/street-talk/sarah-thompson-j7ger.html)[Anthony Macdonald](https://www.afr.com/street-talk/anthony-macdonald-j7gcx.html)\n\nLink: [https://www.afr.com/street-talk/metal-tiger-purrs-for-mod-resources-20180717-h12s0a](https://www.afr.com/street-talk/metal-tiger-purrs-for-mod-resources-20180717-h12s0a)\n\n "}