Full Year 2024 Cadence Capital Ltd Earnings Call (Pre-recorded) Transcript
Ladies and gentlemen, welcome to Cadence Capital Limited's year-end webcast for June 2024. By now, you would have seen that our full-year results have been released and the fund is up 10.4%, producing a profit of $21.6 million. And we've had a good year in terms of the volatility of our funnel relative to development, which has produced good risk-adjusted returns.
Stocks that have done well for us this full financial year were Meta Platforms, Alumina, Netflix, the Karora/Westgold merger, Whitehaven Coal, Capstone Copper, and Austin Engineering. Detractors for the period were Sierra Rutile, which has now been taken over, Zillow, and Syrah Resources. Investing in turnaround situations such as Meta and Netflix has produced good returns for the fund over the past year.
Performance of resource companies has been mixed. Investments in copper, aluminum, and gold companies such as Capstone Copper, Alumina, and Westgold Resources performed well. Whilst investments in, for example, lithium mine has performed
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