Lion Selection

What we invest in

Lion Selection Group invests in junior mining and exploration companies.

Investment mandate:

  • 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 August 2016

 CommodityMarket Value A$M% Portfolio
Australia
Egan Street ResourcesGold2.1
Other Australia0.46%
Africa
RoxgoldGold8.3
Toro GoldGold1.0
Other Africa1.7
Cash dedicated to Africa11.332%
Asia
One Asia Resources2Gold9.1
Erdene ResourcesGold2.3
Other Asia0.832%
AmericasIron Ore/Coal0.31%
Uncommitted Net Cash11.129%
Net Tangible Assets
$38.4m
NTA Per Share39c

1 Includes committed cash of US$0.8 million to AFL3.
2 One Asia at a value of A$0.18/share.

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