LION SELECTION GROUP LIMITED. — Net Asset Value 2020

Dec 10, 2020

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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 November 2020 is 61.9 cents per share (after tax).

CommodityOctober 2020A$MPani Joint VentureGold61.2The fair value of Lion’s interest in the Pani Joint Venture increased to A$60.7M at31 July 2020. This increase reflects the sustained escalation in gold prices from thetime of the most recent arm’s length transaction in November 20181. An additional$0.5M has been invested subsequently.PortfolioNusantara ResourcesGold14.2Erdene ResourcesGold5.2Sihayo GoldGold1.6Celamin HoldingsPhosphate1.4Other0.7 Portfolio holdings measured at fair value Includes investments held directly by Lion and the value to Lion of investments heldby African Lion.Net Cash10.0	November 2020A$M¢ps61.240.714.29.54.42.91.51.01.10.70.80.69.76.5
Net Tangible AssetsA$94.3m	A$92.9m 61.9¢ps
Capital StructureShares on Issue:150,141,271Share Price:44.5¢ps30 November 2020

1 Lion Selection Group ASX Announcement 4 August 2020, Pani Update and Valuation Revision

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Authorised for release by: Craig Smyth E: csmyth@lsg.com.au

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 ASX RELEASE – October 2020