The unaudited portfolio value ("PV") (based on investments and cash only) at 31 March 2018 was 0.77 pence per ordinary share.

Name

Number of shares

Share price

Valuation

African Pioneer plc

529,532

(see note 2)

149,507

Anglo American plc

11,500

16.610

191,015

Ascent Resources plc

482,142

0.0105

5,062

Berkeley Mineral Resources plc

2,500,000

0.0190

47,500

Bezant Resources Plc

55,555,556

0.0041

227,778

Cabot Energy plc

294,118

0.0450

13,235

Corallian Energy Limited

20,000

1.5000

30,000

Duke Royalty Limited

20,000

0.3950

7,900

ETFS Physical Platinum

2,250

62.949

141,635

ETFS Copper

1,760

20.252

35,644

Galileo Resources plc

6,516,667

0.0128

83,413

Goldquest Mining Corp

173,500

0.1106

19,189

Jersey Oil and Gas plc

3,300

1.9048

6,286

Jubilee Metals Group plc

1,169,600

0.0260

30,410

MX OIL plc

400,000

0.0065

2,600

PanContinental Oil and Gas NL

611,813

0.0030

1,835

Pantheon Resources

31,500

0.4700

14,805

Papua Mining plc

230,000

0.0085

1,955

Revelo Resources Corp.

216,667

0.0192

4,160

Sovereign Mines of Africa plc

2,000,000

0.0027

5,400

Sunrise Resources plc

665,000

0.0013

864

Tertiary Minerals plc

1,330,000

0.0128

17,024

Total Investments

1,037,217


Notes:

  1. The above PV calculation is based on 184,347,070 Ordinary shares with a nominal value of 0.1 pence each ("Ordinary shares") being the Company's issued share capital of 188,847,070 Ordinary shares less 4,500,000 Ordinary shares held intreasury.
     
  2. African Pioneer PLC ("APP") is a private investment company in which Tiger owns 50.75 per cent. of the issued share capital and this investment is valued on the basis of Tiger's share of APP's assets (cash plus investments) at the quarter end date for the purpose of computing the quarterly PV.
     
  3. The shares of Berkeley Mineral Resources Plc ("BMR") were suspended at the company's request on 7February 2018 pending clarification of the mining right in respect of BMR's Kabwe operation. This investment has been valued at its marketprice immediately prior to the suspension of its shares.
     
  4. The Company made an investment of £250,000 in Bezant Resources Plc, acquiring 55,555,556 shares at a cost of 0.45 pence per share.
     
  5. The Company made an investment of £30,000 in Corallian Energy Limited, an unquoted oil and gas exploration company. This investment is carried at cost as at 31 March 2018.
     
  6. Tiger sold 95,000 Rockrose Energy Plc ("Rockrose") shares on 19 February 2018 realising net proceedsof £341,354.30 which represents a net gain of £293,854.30. In addition to the gain realised on the sale of the Rockrose shares, Tiger received an amount of £142,500 (£1.50 per share) relating to a distribution of cash funds made by Rockrose on 23 February 2018
     
  7. Cash funds held by the Company at 31 March 2018 amounted to £382,371.53
     
  8. All reporting is made on a quarterly basis and accordingly the next announcement will disclose the PV per share and investments as at 30 June 2018. The Company will disclose its investments on a quarterly basis when disclosing its PV.