LION SELECTION GROUP LIMITED. — Net Asset Value 2019

Oct 8, 2019

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ASX RELEASE: LSX

Net Tangible Asset Backing

Net Tangible Asset Backing

Lion Selection Group Limited (Lion) advises that the unaudited net tangible asset backing of Lion as at 30 September 2019 is $0.47 per share (after tax).

		Commodity	August 2019	September	2019
			A$M	A$M	¢ps
Pani	Joint Venture (33.3% Interest)	Gold	38.7	39.2	26.1
	Fair value for Pani based on Merdeka’s acquisition of 66.7% interest
	in the Pani JV from Lion’s previous	JV partner in November 2018.
Portfolio
Nusantara Resources		Gold	10.0	11.5	7.7
Egan	Street Resources	Gold	6.0	6.3	4.2
Erdene Resources		Gold	2.5	2.0	1.3
Other			3.1	3.4	2.2
	Portfolio holdings measured at fair	value
	Includes investments held directly by Lion and the value to Lion of
	investments held by African Lion.

Net Cash	9.2	8.6	5.7
Net Tangible Assets	A$69.5m	A$71.0m	47¢ps

Capital Structure

Shares on Issue:	150,134,879
Share Price:	42¢ps	30 September 2019
Options on Issue:	15,720,958	$0.50 expiry 12 April 2020

Lion Selection Group Limited ABN 26 077 729 572 Level 2, 175 Flinders Lane, Melbourne Vic 3000 T: +61 3 9614 8008 www.lsg.com.au

Further enquiries: Craig Smyth E: csmyth@lsg.com.au