Lion Selection Invests AU$0.5 million in Peregrine Gold Placement

Lion Selection Group Limited (ASX: LSX) has committed to invest AU$0.5 million as part of a AU$3 million placement launched by Peregrine Gold Limited (ASX: PGD). Peregrine is advancing exploration in Western Australia’s Pilbara region, targeting both large-scale early-stage gold prospects along strike of the Mallina Fault and higher-grade prospects near Newman. The company has also identified two significant surface iron ore occurrences, interpreted as channel iron deposits, with promising sampling results yet to be drill tested. The placement is priced at 22 cents per share, with investors also receiving one free attaching option for every two shares, exercisable at AU$0.33 over three years. Upon completion, Lion will hold a 2.3% stake in Peregrine. Management noted the investment aligns with Lion’s diversified portfolio strategy, offering exposure to well-located gold and iron ore assets with potential scale and discovery upside.

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