Lion Selection Group Boosts Stake in Sunshine to 10% in April Quarter, Shares Jump 4%

MT Newswires Live05-21 09:32

Lion Selection Group (ASX:LSX) said it now holds a 10.1% stake in Sunshine Metals (ASX:SHN) after investing AU$3 million in the quarter ended April 30 as part of a AU$22 million fundraising at A$0.027 per share, according to a Thursday Australian bourse filing.

Lion now has a 41% interest in Plutonic, with AU$1.6 million committed as part of a AU$4 million entitlement issue at AU$0.12 per share. It also divested its stake in Great Boulder Resources (ASX:GBR) for AU$2.4 million in the period.

It said its Australia-focused investments of AU$53.9 million have created a value of AU$104.1 million, including the value of portfolio holdings and realized gains, as of April 30, providing an investment return to-date of 93%. It added that its portfolio contains 11 Australian-focused opportunities.

Its shares rose 4% in recent trading on Thursday.

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