Tiger flags cash flow issues

Africa-focused Tiger Resources is in talks with its shareholders and lenders concerning its depleting cash balance, as repairs to infrastructure at its Kipoi copper project will hinder production for the month.

Tiger told the market today that the tank leach circuit at Kipoi had been shut down to repair failures in two pump mixers.

The repairs are expected to be completed within seven days. However, as a result of the complications Tiger’s March production will be short by about 100 tonnes of copper.

Tiger said it was in ongoing discussions with major shareholders and a senior lending group to address the company’s short- and medium-term cash flow issues.

“(The company) expects to provide a further update next week,” the company said in a statement.

Tiger shares have been locked in a trading halt since mid-February.