News: Tiger Resources chairman increases indirect stake through on-market trade

Tiger Resources (ASX:TGS) chairman Neil Fearis has increased his indirect interest in the company through an on-market purchase.

Indirect interests of Fearis acquired 200,000 shares for $26,000, or an average of $0.13 per share.

This increases his indirect interest up to 200,000 shares and 1 million options exercisable at $0.46 each and expiring 21 May 2015.

Tiger is focused on reducing its net debt with cash flow from its Kipoi Copper Project in the Democratic Republic of Congo.

It is also confident of refinancing the US$100 million Taurus bridge facility which is due for repayment in mid-October 2015.

The solvent extraction and electrowinning plant at Kipoi continues to achieve nameplate copper cathode production rates of 25,000 tonnes per annum.