Tiger Resource Finance results for the year ended 31 December 2014 have just been published. The figures are somewhat ancient history now but for the record its asset value fell from 2.32p to 1.24p, a decline of 47%.
Xtract Resources Plc has released positive announcements about its Chepica mine operations and more recently in relation to an acquisition of near surface copper tailings assets in South Africa. This flow of news has had a positive effect on the company’s share price and Tiger has acted on this opportunity in recent months and realised a gain of approximately £388k through the disposal of part of its holding in Xtract. Tiger continues to hold a residual 50 million Xtract shares and they plan to realise further gains as Xtract progresses its assets in the coming months. African Pioneer Plc continues to review numerous opportunities, with a view to securing an asset which has significant potential against relatively low short term funding requirements.
Tiger has a number of energy positions in the portfolio which have suffered as a result of the oil price collapse although the investment committee managed to realise its investments in Petroceltic International Plc and Wentworth Resources Limited during the period under review.
TRF : Tiger Resource Finance NAV halved