This is the sixth such financing arrangement taken out by Metal Tiger.
The loan is secured over, in aggregate, 232,780 Sandfire shares held by Metal Tiger, representing approximately 0.13% of Sandfire’s issued share capital.
The two parties have also agreed put and call options on the shares priced respectively at 80% and 145% of the A$.5.95 reference price.
Costs of approximately A$0.108m associated with the agreement have been deducted from the aggregate proceeds.
In total Metal Tiger has now borrowed A$12.4mln against its holding in Sandfire in arrangements which are secured over just over 2.8mln shares.
Metal Tiger’s total Sandfire holding amounts to just under 6.3mln shares.