Business Description:
Tiger Resources Limited (TGS) is a producing copper/cobalt company. TGS have a highly-rated portfolio of properties, all strategically located on the Katanga Copperbelt in the Democratic Republic of Congo (DRC). Tiger has an interest in a number of prospective projects covering 1,550sqkm, including the Kipoi and Lupoto projects.

Strategy Analysis:
TGS have a staged development strategy for the Kipoi Project. Stage 1 involves processing high-grade oxide copper mineralisation through a heavy media separation plant to produce the equivalent of 119,000 tonnes of copper in concentrate over a three-year period. TGS then plan is to then construct a 25,000tpa Solvent Extraction and Electrowinning plant by 2014 to produce cathode copper. The expanding resource base at Kipoi has the potential to support a 50,000+tpa Solvent Extraction Electrowinning production capacity. Tiger Resources reported negative cash flow of US$1.75m for quarter ended 31 December 2011. Operating cash flow for the period was US$1.69m. Payments for exploration and evaluation were US$(2.58m). Investing cash flow was US$(3.44m). Financing cash flow was nil. Cash in hand at the end of the quarter was US$5.02m.