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.
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.
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.
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.