AI assistant
LION SELECTION GROUP LIMITED. — Capital/Financing Update 2013
Sep 4, 2013
65271_rns_2013-09-04_3e47d0a3-e329-4aab-9bc5-aeecb37d92c2.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [392 x 128] intentionally omitted <==
==> picture [217 x 128] intentionally omitted <==
ASX RELEASE : LSX
Net Tangible Asset Backing
Lion Selection Group Limited (Lion) advises that the unaudited net tangible asset backing of Lion as at 31 August 2013 is $0.64 per share (after tax).
| Commodity | Market | |||
|---|---|---|---|---|
| Value | ||||
| A$M | % Portfolio | |||
| Australia | ||||
| Doray Minerals | Gold | 5.6 | ||
| YTC Resources | Gold/Base Metals | 1.7 | ||
| Rum Jungle Resources | Phosphate | 1.6 | ||
| Auricup Resources | Gold | 1.9 | ||
| Other Australia | 0.5 | 17% | ||
| Africa | ||||
| Kasbah Resources | Tin | 1.8 | ||
| Roxgold | Gold | 4.4 | ||
| Toro Gold | Gold | 1.8 | ||
| Other Africa | 1.9 | |||
| Cash dedicated to Africa1 | 3.4 | 19% | ||
| Asia | ||||
| One Asia Resources2 | Gold | 21.0 | ||
| Sihayo Gold | Gold | 1.8 | ||
| Other Asia | 3.2 | 38% | ||
| Americas | Iron Ore/Coal | 1.0 | 1% | |
| Uncommitted Net Cash3 | 17.2 | 25% | ||
| Net Tangible Assets | $68.8m | 64¢/ share |
1 Includes committed cash of US$2.8 million to AFL3.
2 One Asia at a value of A$0.75/share.
3 Note that Lion has underwritten $7.5 million for One Asia’s rights issue, settled in early September 2013. Refer note below.
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
Lion Selection Group Limited ABN 26 077 729 572 Level 4, 15 Queen Street, Melbourne Vic 3000 T: +61 3 9614 8008 F: +61 3 9614 8009 www.lsg.com.au
Further enquiries: Jane Rose Investor Relations Manager E: [email protected]
One Asia Resources Equity Raising
Lion has agreed to partly underwrite an upcoming rights issue for One Asia for $7.5 million, with this investment being settled in early September. One Asia’s rights issue is seeking to raise approximately $21 million at $0.65/share. Lion and other underwriters have committed to underwrite $15.5 million of this rights issue. For the purposes of Lion’s Net Tangible Asset (NTA) backing as at 31 August 2013 One Asia was valued at $0.75/share. Lion believes this valuation continues to be appropriate, reflecting that the rights issue pricing represents a small discount to this valuation as would normally be the case for a listed company, and noting that the rights issue is largely an internal raising from existing shareholders. In addition, One Asia is having outstanding exploration success at the Pani project where an initial JORC Resource of 1.88 Moz was announced on 13 June 2013.