Passive Equity Investments
The passive equity investment portion consists of investments in listed mining entities where the Board believes the underlying investments are attractive. The focus is to invest in mining companies that are significantly undervalued by the market and where there is substantial upside potential through exploration success and/or development of a mining project towards commercial production. Investments are typically direct purchases of listed mining equities but may include other investment structures. Ultimately the aim is to make capital gains in the short to medium term. Investments are considered individually based on various criteria and typically are traded on the TSX, ASX, AIM or LSE.
Portfolio (30/06/2022)
As of 30 June 2022, our public equity stakes consisted of the following:
| Company | 30-Jun-22 | 31-Dec-21 | 30-Jun-21 | 31-Dec-20 |
| £,000 | £,000 | £,000 | £,000 | |
| European Metals Holding Ltd | 5,357 | 11,287 | 14,180 | 13,426 |
| Charger Metals NL | 196 | 342 | 109 | – |
| Macarthur Minerals Ltd | 103 | 181 | 327 | 329 |
| Eagle Mountain Mining Ltd | 47 | 122 | 153 | – |
| Mont-Royal Resources Ltd | 39 | 35 | – | – |
| Celsius Resources Ltd | – | – | 103 | – |
| Miscellaneous | 5 | 7 | 6 | 6 |
| Total | 5,747 | 11,974 | 14,878 | 13,761 |