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Mining investor Metal Tiger said it had agreed to acquire a stake in a South Korean-focused gold miner for A$3.3m (£1.7m) and had also written off the value of its Spanish assets.
The company had acquired a 14.9% stake in Sydney-listed but Korea-focused Southern Gold as part of a broader A$10m fundraising by the company.
Metal Tiger did not disclose a value for the Spanish write down.
'The board reviews its existing investment on an ongoing basis and, following its latest review, has decided to write off its Spanish assets, being its Logrosan joint venture,' the company said.
At 1:49pm: (LON:MTR) Metal Tiger Plc Ord 0.01p share price was +0.15p at 1.7p