Performance
Since inception, the Cranport Resources Fund has demonstrated strong performance, supported by a high-conviction and actively managed approach to small–mid cap ASX-listed resources companies.
Returns have been underpinned by disciplined stock selection, selective positioning and a consistent focus on risk-adjusted outcomes across market cycles. The strategy prioritises capital preservation alongside long-term performance.
Monthly Performance by Quarter:
*Past performance is not a reliable indicator of future returns. Any historical performance information provided is for illustrative purposes only and should not be relied upon as a guarantee of future performance.
Case Study
Benz Mining (BNZ.ASX) | Gold
Discovery + Resource Growth Value Creation
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Market cap currently ~A$1.8b
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Cranport first started accumulating stock in BNZ in late 2024 when the company had a market cap of less than A$50m, following the acquisition of the Glenburgh and Mt Edgerton Gold Projects from Spartan Resources (SPR.ASX).
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At the time, Spartan was not focusing on the projects given the progress being made at their “Never Never” Project, and divesting the projects made sense. Spartan themselves were ultimately taken over by Ramelius Resources (RMS.ASX).
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Cranport were attracted to the investment opportunity given the incredible potential of the Glenburgh and Mt Edgerton assets and for BNZ to unlock the value.
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What has transpired since late 2024 has been phenomenal:
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Incredible and regular high-grade drilling results;
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A maiden resource exploration target of up to 12Moz of gold;
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Almost A$300m in equity funding completed across 5 equity placements to fund a huge 450,000m drill out program, all conducted at higher levels than prior transactions;
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Included in both the ASX 300 and GDXJ indices; and
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Market cap increase from ~A$50m to ~A$1.8b, and share price appreciation of more than 2,000%.
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Case Study
Midas Minerals (MM1.ASX) | Copper
Discovery + Resource Growth Value Creation
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Market cap currently ~A$280m
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Cranport first started accumulating stock in MM1 in mid 2024.
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In May 2025, MM1 announced the acquisition of what is now the flagship Otavi Copper Project in Namibia.
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In conjunction with the acquisition, MM1 completed an equity placement at $0.15/sh to fund the acquisition and exploration. Cranport was one of the key supporters and investors in the placement.
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The attraction of the MM1 investment to Cranport was:
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Plenty of historical exploration done by prior owners of the asset which highlighted the potential;
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Namibia is a relatively good jurisdiction in Africa;
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Copper market dynamics are very encouraging, and there are not many good ways of getting exposure to high quality exploration plays; and
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High quality management and register led by Mark Calderwood (ex Perseus Founding MD).
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Since announcing the acquisition in May 2025, great progress has been made:
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Discovery of Spaatzu and Deblin deposits;
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Defined a maiden resource;
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Demonstrated spectacular copper grades;
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Expanded into multiple deposits;
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Raised almost A$50m in equity capital via placements, all of which Cranport has participated in; and
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Market cap increase from ~A$20m to ~A$280m, and share price appreciation of more than 600%.
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Case Study
Meteoric Resources (MEI.ASX) | Rare Earths Development + De-Risking Value Creation
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Market cap currently ~A$1b
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MEI’s flagship Calderia Project is the largest known ionic clay rare earth oxide resource outside of China.
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The attraction of the investment to Cranport has been:
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An enormous, high-grade ionic-clay rare earth resource
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Demonstrated simple metallurgy
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Low projected operating costs
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Substantial NdPr + valuable Dy/Tb exposure
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Improving resource/reserve confidence
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Advancing Brazilian permits
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Strategic partner interest
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Most recently, the leading ex-China rare earths producer, Lynas Corp (LYC.ASX) validated the project by making a takeover offer for MEI, at a premium of almost 70% to MEI’s prior trading, valuing MEI at close to A$0.30/sh or ~A$1b.