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Trading Places: The four new explorers Canadian billionaire Eric Sprott is backing
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Want to know where fund managers are putting their money? We’ve been keeping track so you don’t have to.
Trading Places is Stockhead’s recap of the substantial holder movements among ASX small caps over the last fortnight.
Substantial shareholders are those holding 5 per cent or more of a company’s shares — these can be directors, individual investors, or institutional investors.
Shareholders are required to announce to the exchange when they cross above or below the 5 per cent threshold, as well as any change in their holdings while they remain above 5 per cent.
Buyers
| Company | Code | Market Cap | Holder | Stake | Status |
|---|---|---|---|---|---|
| Resource Development Group | RDG | $126.5M | Reid Investments | 5.49% | Becoming |
| Resource Development Group | RDG | $126.5M | Andrew Ellison | 5.49% | Becoming |
| Mint Payments | MNW | $10.0M | UIL | 16.01% | Increasing |
| SciDev | SDV | $98.1M | AustralianSuper | 6.59% | Becoming |
| Talon Petroleum | TPD | $5.3M | Nero Resource Fund | 13.51% | Becoming |
| BWX | BWX | $544.1M | Paradice Investment Management | 6.78% | Increasing |
| Emeco Holdings | EHL | $383.3M | Paradice Investment Management | 5.24% | Becoming |
| S2 Resources | S2R | $40.3M | Paradice Investment Management | 6.45% | Becoming |
| Mineral Commodities | MRC | $109.2M | Zurich Pay Holdings | 16.92% | Increasing |
| Pacific Star Network | PNW | $66.9M | Viburnum Funds | 23.79% | Increasing |
| S2 Resources | S2R | $40.3M | Merian Global Investors | 14.93% | Increasing |
| Priminence Energy | PRM | $924K | GTT Global Opportunities | 15.73% | Becoming |
| RBR Group | RBR | $8.2M | Athol Emerton | 11.27% | Increasing |
| A-Cap Energy | ACB | $12.2M | MM Asset Management | 5.02% | Becoming |
| EMVision Medical Devices | EMV | $119.7M | Scott Kirkland | 5.34% | Increasing |
| Greenvale Energy | GRV | $6.7M | Gun Capital Management | 18.67% | Increasing |
| Greenvale Energy | GRV | $6.7M | Monarch Asset Management | 6.89% | Increasing |
| Centaurus Metals | CTM | $122.9M | Dundee Corporation | 5.17% | Becoming |
| Micro-X | MX1 | $62.5M | Perennial Value Management | 6.37% | Increasing |
| Vault Intelligence | VLT | $66.6M | Pie Funds Management | 6.24% | Increasing |
| Angel Seafood | AS1 | $13.9M | Thorney Opportunities | 11.00% | Increasing |
| Vintage Energy | VEN | $27.7M | Acorn Capital | 5.64% | Becoming |
| Aldoro Resources | ARN | $8.3M | Pioneer Development Fund | 9.55% | Becoming |
| Australian Strategic Minerals | ASM | $116.1M | Ian Gandel | 24.76% | Becoming |
| CardieX | CDX | $29.3M | Paul Cozzi | 14.22% | Increasing |
| Salmat | SLM | $133.8M | Samuel Terry Asset Management | 11.70% | Increasing |
| Identitii | ID8 | $9.5M | KTM Ventures Innovation Fund | 8.56% | Increasing |
| Middle Island Resources | MDI | $56.5M | Twynam Investments | 6.85% | Increasing |
| Emeco Holdings | EHL | $353.7M | Paradice Investment Management | 6.88% | Increasing |
| The Reject Shop | TRS | $238.5M | Wilson Asset Management | 5.34% | Becoming |
| Adairs | ADH | $405.8M | Wilson Asset Management | 7.21% | Increasing |
| Prominence Energy | PRM | $1.7M | Ian McCubbing | 7.37% | Becoming |
| Yowie | YOW | $7.0M | Keybridge Capital | 24.21% | Increasing |
| Smiles Inclusive | SIL | $5.2M | Phi Long Investment | 16.42% | Increasing |
| 5G Networks | 5GN | $156.0M | JD Management Group | 21.00% | Increasing |
| Freehill Mining | FHS | $82.6M | Gavin Ross | 5.98% | Becoming |
| New Zealand Coastal Seafoods | NZS | $26.2M | Cyan Investment Management | 5.03% | Becoming |
| Bard1 Life Sciences | BD1 | $74.2M | Merchant Funds Management | 13.29% | Increasing |
| YPB | YPB | $10.7M | John Houston | 30.83% | Increasing |
| Dacian Gold | DCN | $203.1M | Perennial Value Management | 5.05% | Becoming |
| Marenica Energy | MEY | $11.3M | Chris Retzos | 10.46% | Increasing |
| Kinetiko | KKO | $40.8M | Brendan Gore | 17.17% | Increasing |
| AF Legal Group | AFL | $13.8M | Moat Investments | 5.03% | Becoming |
| Emetals | EMT | $9.0M | Venus Metals | 9.10% | Increasing |
| Advanced Braking Technology | ABV | $13.3M | Keith Knowles | 22.33% | Increasing |
| Electro Optic Systems | EOS | $827.5M | Regal Funds Management | 5.26% | Increasing |
| Firefly Resources | FFR | $12.4M | Kevin Puil | 8.20% | Becoming |
| GetSwift | GSW | $176.6M | Fidelity | 8.37% | Increasing |
| AIC Mines | A1M | $20.1M | Josef El-Raghy | 18.62% | Increasing |
| Navarre Minerals | NML | $67.8m | VBS Exchange | 8.25% | Increasing |
| Redflow | RFX | $30.0M | Simon Hackett | 10.79% | Increasing |
| GTN | GTN | $67.8M | Viburnum Funds | 23.89% | Increasing |
| Capricorn Metals | CMM | $704.8M | Paradice Investment Management | 9.94% | Increasing |
| Capricorn Metals | CMM | $704.8M | Eley Griffiths | 6.45% | Increasing |
| BWX | BWX | $564.5M | Eley Griffiths | 5.04% | Becoming |
| ISelect | ISU | $59.0M | Forager Funds Management | 11.04% | Increasing |
| Powerwrap | PWL | $56.6M | Paremium | 18.89% | Increasing |
| Jadar Resources | JDR | $21.5M | Valens International | 10.01% | Becoming |
| National Tyre & Wheel | NTD | $56.5M | Tyres4U | 9.30% | Becoming |
| Village Roadshow | VRL | $410.0M | BGH | 39.92% | Becoming |
| Base Resources | BSE | $251.9M | Sustianable Capital | 23.66% | Increasing |
| Terragen Holdings | TGH | $44.8M | One Funds MAnagement | 7.73% | Increasing |
| Middle Island Resources | MDI | $55.0M | Regal Funds Management | 6.96% | Becoming |
| Baby Bunting | BBN | $459.2M | United Super | 5.05% | Becoming |
| Alt Resources | ARS | $32.6M | Harvest Lane Asset Management | 9.85% | Increasing |
| Tempus Resources | TMR | $26.1M | Sprott | 5.12% | Becoming |
| Saturn Metals | STN | $79.2M | Sprott | 7.26% | Becoming |
| Adriatic Metals | ADT | $467.0M | Sprott | 5.24% | Becoming |
| Centaurus Metals | CTM | $172.4M | Sprott | 5.94% | Becoming |
| iSelect | ISU | $59.0M | Thorney Opportunities | 15.07% | Increasing |
| Castile Resources | CDT | $51.9M | Merchant Funds Management | 5.98% | Becoming |
| NSX | NSX | $23.2M | Nickolas Karantzis | 19.22% | Increasing |
| Estrella Resources | ESR | $6.4M | Jason Peterson | 5.01% | Becoming |
| Accelerate Resources | AX8 | $6.3M | Syrcause Capital | 7.44% | Becoming |
| Nustrana Resources | NUS | $73.6M | Federation Mining | 13.31% | Becoming |
| AHA Life | AHL | $4.0M | Alex Waislitz | 11.69% | Increasing |
| Uniti Group | UWL | $852.7M | Ausbil Asset Management | 5.30% | Becoming |
| AIC Mines | A1M | $22.0M | Gold Elegant Investment | 5.97% | Becoming |
| Greenvale Energy | GRV | $9.7M | Neil Biddle | 11.68% | Becoming |
| Victory Mines | VIC | $3.6M | Davide Bosio | 8.80% | Becoming |
| Consolidated Financial Holdings | CWL | $14.6M | DMX Asset Management | 10.80% | Increasing |
| Knosys | KNO | $11.6M | Bombora Investment Management | 6.20% | Increasing |
| Ariadne Australia | ARA | $82.4M | Kayaal | 7.10% | Increasing |
| Indiana Resources | IDA | $9.7M | Bronwyn Barnes | 5.90% | Increasing |
| Krakatoa Resources | KTA | $21.4M | Helmsdale Investments | 5.75% | Becoming |
| Mint Payments | MNW | $13.1M | Doborani | 22.04% | Increasing |
| HSC Technology | HSC | $13.4M | Russell Acquisitions | 5.68% | Increasing |
| Pearl Global | PG1 | $9.2M | ROC Alternative Investment | 22.45% | Increasing |
| Piedmont Lithium | PLL | $43.1M | Fidelity | 8.87% | Increasing |
| Greenvale Energy | GRV | $9.7M | Tony Leibowitz | 6.45% | Becoming |
| Mint Payments | MNW | $12.1M | Perennial Value Management | 11.59% | Increasing |
| 4D Medical | 4DX | $434.2M | Perennial Value Management | 5.49% | Becoming |
| Vitalharvest | VTH | $146.2M | Salt Funds Management | 7.29% | Increasing |
| Peel Mining | PEX | $72.9M | Hampton Hill | 16.12% | Increasing |
| Tuas | TUA | $287.6M | Regal Funds Management | 5.10% | Becoming |
| Piedmont Lithium | PLL | $43.1M | AustralianSuper | 12.72% | Increasing |
| Finbar Group | FRI | $179.6M | Westoz Funds Management | 8.50% | Increasing |
| Mint Payents | MNW | $12.1M | TAAJ Corporation | 15.33% | Increasing |
| Surefire Resources | SRN | $5.0M | Jason Peterson | 6.27% | Becoming |
Canadian billionaire investor Eric Sprott has poured more cash into four junior explorers in the past fortnight.
Sprott’s investment vehicle, Sprott Group, has surpassed the 5 per cent threshold in WA gold explorer Saturn Metals (ASX:STN), Adriatic Metals (ASX:ADT) –which is a base metals play with projects in Bosnia and Herzegovina, North and South America-focused copper hopeful Tempus Resources (ASX:TMR) and Centaurus Metals (ASX:CTM), which has nickel and iron ore projects in Brazil.
Other substantial resources buys include Merchant’s 5.98 per cent stake in Castile Resources (ASX:CST), one of the few gold IPOs in 2020.
Among non-resources transactions, Regal Funds Management now has a 5.1 per cent stake in Singaporean telco Tuas (ASX:TUA). This was spun off from TPG prior to its acquisition by Vodafone.
Ausbil Asset Management, typically a name associated with larger caps, bought into telco Uniti (ASX:UWL). Uniti was last year’s most successful IPO and after more than halving earlier in the year has been on the way back up since the end of March.
Insurance comparison website iSelect (ASX:ISU) saw both Forager Funds Management and Alex Waislitz’s Thorney Opportunities top up their respective stakes, which are collectively over a quarter of the company.
Dean Fergie’s Cyan Investment Management crossed the threshold in New Zealand-based fish bladder seller New Zealand Coastal Seafoods (ASX:NZS), which has soared from 0.9c to over 6c in the last month off the back of new export deals.
Wilson Asset Management’s plays included retail stocks The Reject Shop (ASX:TRS) and Adairs (ASX:ADH).
Sellers
| Company | Code | Market Cap | Holder | Current Stake | Status |
|---|---|---|---|---|---|
| Lithium Power International | LPI | $48.7M | Regal Funds Management | 11.37% | Decreasing |
| Alto Metals | AME | $26.1M | Harvest Lane Asset Management | 11.91% | Decreasing |
| Matrix Composites & Engineering | MCE | $16.9M | Allan Gray | 8% | Decreasing |
| Damstra Holdings | DTC | $234.3M | Regal Funds Management | 7.61% | Decreasing |
| Infigen Energy | IFN | $897.9M | Vinva Investment Management | 0.00% | Ceasing |
| Bellevue Gold | BGL | $823.8M | Tolga Kumova | 4.71% | Ceasing |
| Focus Minerals | FML | $78.6M | Neil S Subin | 10.86% | Decreasing |
| Impact Minerals | IPT | $33.7M | Wyloo Metals | 4.56% | Ceasing |
| Emeco Holdings | EHL | $374.1M | Perennial Value Management | 0.02% | Ceasing |
| Marley Spoon | MMM | $584.2M | Perennial Value Management | 9.30% | Decreasing |
| Maggie Beer | MBH | $48.7M | Perennial Value Management | 12.36% | Decreasing |
| Magnis Energy Technologies | MNS | $148.9M | AL Capital | 4.99% | Ceasing |
| Decmil Group | DCG | $69.5M | Criddle Family | 2.12% | Ceasing |
| Kingwest Resources | KWR | $20.7M | 1832 Asset Management | 6.99% | Decreasing |
| Quickstep Holdings | QHL | $60.6M | Regal Funds Management | 4.41% | Ceasing |
| Lifestyle Communities | LIC | $893.9M | Cooper Investors | 5.09% | Decreasing |
| Neurotech | NTI | $2.5M | S J Dobson | 4.04% | Ceasing |
| McPhersons | MCP | $296.1M | Pie Funds Management | 6.22% | Decreasing |
| Wisr | WZR | $240.8M | Adcock Private Equity | 19.72% | Decreasing |
| MNF Group | MNF | $462.0M | Naos Asset Management | 6.64% | Decreasing |
| Pureprofile | PPL | $2.9M | EFM Global Growth Fund | 4.99% | Ceasing |
| Globl Energy Ventures | GEV | $23.2M | Regal Funds Management | 0.00% | Ceasing |
| 3P Learning | 3PL | $150.6M | Smallco Investment Management | 0.00% | Ceasing |
| Webcentral | WCG | $12.8M | Keybridge Capital | 9.24% | Decreasing |
| Accelerate Resources | AX8 | $6.0M | GTT Global Opportunities | 0.00% | Ceasing |
| Marley Spoon | MMM | $578.9M | Pie Funds Management | 4.99% | Ceasing |
| Keytone Dairy | KTD | $56.5M | Vivienne Cheung | 9.10% | Decreasing |
| Retail Food Group | RFG | $133.4M | Regal Funds Management | 13.01% | Decreasing |
| Keytone Dairy | KTD | $56.5M | James Gong | 4.87% | Ceasing |
| Genetic Signatures | GSS | $355.1M | Karst Peak Capital | 11.17% | Decreasing |
| Aurelia Minerals | AMI | $511.3M | Perennial Value Management | 5.41% | Decreasing |
| Swick Mining Services | SWK | $51.3M | Perennial Value Management | 13.58% | Decreasing |
| Metals X | MLX | $75.3M | Argyle Street Management | 12.08% | Decreasing |
| Australian Ethical Investment | AEF | $543.9M | IOOF | 0.00% | Ceasing |
| Life360 | 360 | $598.6M | Regal Funds Management | 8.70% | Decreasing |
| Visioneering Technologies | VTI | $15.5M | Regal Funds Management | 8.87% | Decreasing |
| Estrella Resources | ESR | $7.3M | Apollo Phoenix Resources | 7.60% | Decreasing |
| Estrella Resources | ESR | $7.3M | Douglas Daws | 10.75% | Decreasing |
| Maggie Beer | MBH | $60.1M | Perennial Value Management | 8.50% | Decreasing |
| AML3D | AL3 | $34.4M | Perennial Value Management | 7.97% | Decreasing |
| Dacian Gold | DCN | $194.7M | Perennial Value Management | 4.94% | Ceasing |
| Hexagon Energy Materials | HXG | $17.8M | Tribeca Investment Partners | 11.07% | Decreasing |
| New Age Exploration | NAE | $9.8M | Kairos Minerals | 8.61% | Ceasing |
| Yowie | YOW | $7.9M | Trojan Retirement Fund | 0 | Ceasing |
This week’s most notable sale was IOOF completely selling its entire stake in Australian Ethical Investment (ASX:AEF). IOOF banked $74.5m from the sale.
IOOF told its shareholders the proceeds would reduce its debt and “provide strategic flexibility for growth opportunities”. But it stressed it was not walking away from providing its clients with access to ethical investment options.
