Lion Selection Group Limited (ASX:LSX) has announced a commitment to invest an additional $1.6 million in unlisted gold and copper exploration company Plutonic Limited. Lion, an investment company that partners with explorers to create value from mineral discoveries, intends to take up its full 41% entitlement in Plutonic’s recently announced $4 million entitlement issue, priced at 12 cents per share. This strategic move reinforces Lion’s significant exposure to Plutonic’s exploration endeavours and aligns with its approach to early-stage, high-potential mineral discovery.
Plutonic is focused on two 100% owned district-scale projects in Australia, with its primary attention in 2026 directed towards the Champion project in the Northern Territory. Plutonic identified Champion based on an interpretation of a favourable tectonic setting, which has since led to the discovery of a large footprint of copper and gold anomalism (up to 0.3% copper and 2.23g/t gold in rock chips) at surface. Interpreted as a porphyry-epithermal driven system, this area has never before been considered for base and precious metal potential. The explorer plans its inaugural drill testing across four prospects at Champion in 2026, aiming to confirm rock types, alteration, and potential metal abundance. Additionally, Plutonic will advance its Georgetown project in Northern Queensland with surface geophysics.
Since becoming a shareholder in 2022, Lion has invested $4.8 million in Plutonic at 10 cents per share. The current raising price of 12 cents per share is expected to trigger a revaluation of Lion’s Plutonic holding within its Net Tangible Assets (NTA). Assuming successful completion of the $4 million entitlement issue, Lion’s shareholding in Plutonic would be valued at approximately $7.4 million, against a total invested sum of $6.4 million.
Lion’s Managing Director and Chairman of Plutonic, Hedley Widdup, highlighted the unique investment opportunity in Plutonic. He noted the high risks associated with early-stage exploration but emphasised the significant potential for a new discovery across a very large area if Plutonic’s interpretation of a new mineral system at Champion proves successful.
