1st Oct 2021 10:39
Capital Ltd - mining services company focused on African markets - Says returns have been significant, relative to the size of its portfolio, in the third quarter of 2021. Attributes its high returns to the positive performance of two key portfolio holdings Predictive Discovery and Firefinch Ltd. Says these holdings have driven an increase in the total investments value of around USD23.2 million. The company's portfolio totals USD54.2 million on Thursday, up from USD31.0 million on June 30.
On Thursday, West Africa-focused gold and uranium miner Predictive Discovery reports a maiden resource at its Bankan Project in Guinea. The company estimates that Bankan holds resources of 72.8 megatons at 1.56 grams per tonne for around 3.6 million ounces of gold. Capital holds a 10% stake in Predictive Discovery.
Meanwhile, Firefinch recently announces a joint venture arrangement with leading lithium producer Jiangxi Ganfeng Lithium Co Ltd for its Goulamina Lithium Project. Says Ganfeng will provide up to USD194 million of funding. Capital holds a 2.1% stake in Firefinch.
Current stock price: 82.25 pence, up 4.1% on Friday morning
Year-to-date change: up 23%
By Scarlett Butler; [email protected]
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