(last updated 11th April 2022)

The unaudited portfolio value ("PV") (based on investments and cash only) at 31 March 2022 was 0.20 pence (31 December 2021 - 0.18 pence) both per ordinary share..

Name

Number of shares

Share price

Valuation

African Pioneer plc (Note 2)

8,810,056

0.0290

299,492

Bezant Resources Plc

83,870,371

0.0019

159,354

Block Energy Plc

625,000

0.0120

7,500

Caerus Mineral Resources Plc

1,000,000

0.1325

132,500

Corallian Energy Limited (Note 3)

13,618

N/A

20,427

Galileo Resources plc

6,516,667

0.0100

65,167

Goldquest Mining Corp

173,500

0.1744

30,260

Jubilee Metals Group plc

1,169,600

0.1466

171,463

Kendrick Resources Plc (Note 4)

2,500,000

0.0000

-

Reabold Resources Plc (Note 3)

3,025,068

0.0036

10,890

Total Investments

853,053


NOTES:

  1. The above PV calculation is based on 443,442,308 Ordinary shares with a nominal value of 0.1 pence each ("Ordinary Shares") being the Company's issued share capital of 447,942,308 Ordinary Shares less 4,500,000 Ordinary Shares held in treasury.
     
  2. African Pioneer Plc's ("APP") shares comprising 189,459,550 ordinary shares of zero par value each in the capital of the company ("Ordinary Shares") were admitted to the Official List (Standard Segment) and to trading on the Main Market for listed securities of the London Stock Exchange on 1 June 2021. Tiger's current holding in APP is 8,810,056 Ordinary Shares representing a 4.65% interest in APP following Admission.
     
  3. Tiger currently holds 13,618 shares in Corallian Energy Limited ("Corallian"). Reabold Resources Plc ("Reabold") acquired Corallian shares from existing shareholders in exchange for Reabold shares, at a ratio of 474 Reabold shares for 1 Corallian share on 10 May 2021. As part of this offer, Tiger disposed 6,382 Corallian shares in exchange for 3,025,068 shares in Reabold Resources Plc.
     
  4. The shares of Kendrick Resources Plc ("Kendrick") were suspended at the company's request on 7 February 2018 and subsequently de-listed in August 2018. This investment is currently carried at zero valuation. Kendrick has since entered into assignment agreements to acquire Pursuit Minerals Limited's ("Pursuit") interests in the following Projects

    1. the Koitelainen, Karhujupukka North and Karhujupukka South projects in Finland;
    2. the Airijoki, Kullberget, Sumassjon, Kramsta and Simesvallen projects in Sweden; and
    3. the Hosanger, Espedalen and Sigdal projects in Norway,
      (together, the "Nordic Projects").

    The Nordic Projects comprise vanadium projects in Sweden and Finland which are owned by Pursuit consist of well drilled tonnages of vanadium ore, estimated at approximately 160 million tonnes. The Norwegian projects are for nickel and are under an option agreement with Eurasian Minerals Sweden AB and have been partially explored with reconnaissance programmes indicating the potential for strike extension. Kendrick is now focussed on completing a listing on the standard segment of the LSE with the Nordic Projects as its primary assets and is looking to raise funds at the time of the listing to support exploration of the Nordic Projects and the company's ongoing working capital requirements.
     

  5. Cash funds held by the Company at 31 March 2022 amounted to £22,052.37.
     
  6. All reporting is made on a quarterly basis and accordingly the next announcement will disclose the PV per share and investments at 30 June 2022. The Company will disclose its investments on a quarterly basis when disclosing its PV.