25 May 2012

Tiger Resource Finance

HOLD

05/11/2003

Australian small company backer Bruce Rowan's Aim investment vehicle Tiger Resource Finance is doing well out of the current junior mining company craze. One of its holdings, 200,000 shares in Canadian-quoted gold miner Ivanhoe, is in its books at £180,000 though its share-price surge from below C$2 to nearly C$15, gives the stake a current value of some £1.36 million, 32% of Tiger's overall market value at 1.8p a share. Tiger, which last year sold out of Cluff Mining at more than twice Cluff's current price of 102.5p, has had one or two dogs, such as stainless steel flop AuIron, but some that were looking lacklustre at the half year stage (when Tiger showed a £93,000 loss) have subsequently boomed, notably African Eagle. Recommended here in March at 1p, the shares have risen 80% to 1.8p and remain worth holding.

Sector: Industrial Engineering

Companies: Tiger Resource Finance

Market cap: £4.2m

PE Forecast: n/a

Share price: 1.8p

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