Lion Selection Group (ASX:LSG) plans to invest AU$1.8 million as part of Brightstar Resources'(ASX:BTR) AU$30 million placement set for completion on Dec. 16, according to a Monday filing with the Australian bourse.
In March, the company invested AU$ 2 Million for a 3% stake in the gold developer, and in September, Lion raised its investment by AU$1.5 million to hold a 6.1% stake in the company.
As part of the transaction, the investment company also received 76.9 million shares in Brightstar, following the completion of the Scheme of Arrangement with Alto Metals (ASX:AME).
With this additional shareholding, Lion Selection will maintain the 6% interest in Brightstar. Its aggregate investment in the mining firm now stands at AU$10.6 million, the filing added.
Lion Selection's shares rose 3% while shares of Brightstar Resources fell 6% in recent Tuesday trade.
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