Lion Selection Group invests in junior mining and exploration companies.
- High-quality people are essential.
- Any mineral commodity, not oil and gas.
- Pre-production. Project expansion by exception.
- Equity only: generally seek 5–20% shareholding.
- Lion can contemplate unlisted investments and companies listed on any exchange. Lion provides seed, pre-IPO and ongoing funding.
- Investment targets must subscribe to practices consistent with or parallel to the World Bank’s sustainability policies for exploration and mining.
Lion’s Net Tangible Asset Backing as at 31 December 2017
|Commodity||Market Value A$M||% Portfolio|
|Egan Street Resources||Gold||3.9|
|Cash dedicated to Africa1||0.5||25%|
|One Asia Resources2||Gold||2.5|
|Uncommitted Net Cash||7.6||18%|
|Net Tangible Assets|
|NTA Per Share||34c|
1 Includes committed cash of US$0.3 million to AFL3.
2 One Asia at a value of A$0.04/share, after the in specie distribution of Nusantara Resources.
Note: The above table includes investments held directly by Lion and the value to Lion of investments which are held by African and Asian Lion Funds