Lion Selection Group's Interim Report for the Half Year Ended 31 January 2024

Lion Selection Group Limited (ASX: $LSX) has reported its interim financial results for the half year ended 31 January 2024. The company's focus remains on opportunities in precious metals, base metals, and strategic materials in Australia for new investment. Lion has committed $2M to Plutonic, increasing its interest to 48.5% of an unlisted district discovery opportunity. Additionally, it has completed a $3M investment in Saturn Metals, taking its interest to 10.8% of a large and strategic gold resource amenable to very low-cost mining and processing. The company has also made other investments in Great Boulder Resources and Sunshine Metals. With cash and term deposits of A$69.7M, Lion is well-positioned to invest in a weakening junior resources market.

Executive Commentary on Financial Results and Future Outlook

The company's loss before tax for the half year was $0.3 million, reflecting a mark to market loss of $0.9 million with respect to investments. Despite this, Lion remains optimistic about its future operating results, which will depend on the performance of its investments. The company's ability to sustain profits is dependent on future sales of investments, which are difficult to predict due to the wide variety of risks associated with the mining and exploration industry. Lion's future results will be influenced by market opportunities and the performance of its various investments.

Summary of Interim Report and Future Prospects

Lion Selection Group's interim report highlights its continued focus on new investment opportunities in precious metals, base metals, and strategic materials in Australia. The company's strong balance sheet, with cash and term deposits of A$69.7M, positions it well to navigate the weakening junior resources market. Despite reporting a loss before tax for the half year, Lion remains committed to its investment strategy and is optimistic about its future operating results. The company's future profits will be closely tied to the performance and eventual sales of its investments, which are subject to the inherent risks of the mining and exploration industry. Lion's ability to sustain profits will depend on market opportunities and the performance of its various investments, which are challenging to predict.