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Lion Selection Group to Invest AU$5 Million in Saturn Metals, Taking Stake to 10.5%; Saturn Shares Down 8%

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Lion Selection Group (ASX:LSX) committed to invest AU$5 million in Saturn Metals' (ASX:STN) AU$105 million fundraising initiative, according to a Wednesday filing with the Australian bourse.

Saturn represents the largest investment in Lion's portfolio, and the latest commitment will take Lion's overall investment in the company to AU$17 million, or a 10.5% stake, per the filing.

Additionally, the new financing will see Saturn "funded well beyond completion" of a definitive feasibility study for its Apollo Hill gold project in Western Australia, Lion Selection Group said.

Lion Selection shares were about 1% higher in recent Wednesday trade, while Saturn Metals fell 8%.

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