Lion Invests AU$2 million in Plutonics Promising Exploration Venture

Lion Selection Group Ltd (ASX: LSX) has committed a AU$2 million investment in Plutonic Limited as part of Plutonic's capital raising of AU$3 million to $5 million at AU$0.10 per share. The raising values Plutonic at approximately AU$3.2 million. Depending on the extent of the raising, Lion's resulting stake in Plutonic would be 48% or 37%. Lion had previously invested in Plutonic in late 2022, holding a 31.1% interest.

Plutonic's 2023 exploration at the Champion project in the Northern Territory has revealed potential mineral systems, creating significant exploration targets. Lion views Plutonic as a key investment, offering unique leverage to potential discoveries with the possibility of substantial value creation, given Lion's significant ownership. Robin Widdup, Lion Founder and Director, highlighted the low-cost nature of the investment, representing a small proportion of Lion's overall value, and emphasized Plutonic's unlisted status, providing a unique exposure.

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