Capital Limited (LSE:CAPD, FRA:C8D) saw the value of its direct investments portfolio jump 74% in the past three months thanks to the performance of ASX-listed Predictive Discovery (PDI) and Firefinch.
In a statement, Capital said its portfolio is now worth US$54.2mln, compared to US$31mln at the end of June, with US$44.8mln accounted for by its listed investments.
Capital noted that Predictive Discovery announced a maiden resource for the Bankan project yesterday of 3.65mln ounces of gold. It has a 10.44% stake in PDI.
Firefinch, meanwhile, recently set up a joint venture with Chinese lithium giant Ganfeng for its Goulamina project. Capital has a 2.1% stake in Firefinch.
In a statement, Capital added: "Our direct investments, while themselves delivering substantial gains, remain a component of Capital’s business development strategy, aligning the holdings with service contracts.
“The strong performance of the company’s listed investments, if maintained, is expected to provide a material contribution to group earnings.”