Hot Rocks Investments announced three portfolio developments on 3 July, including new investments in a deepwater East African gas explorer and a Brazilian copper-gold company.
The first new position is in Colossal Energy Fields Corporation, which holds exclusive deepwater rights to Blocks 36, 39 and 40 in the Comoros Basin, on the structural extension of the Rovuma gas discoveries along the East African margin.
The second is in Prospectiva Resources, a private UK company focused on copper and gold exploration in northeast Brazil, whose wholly owned São Francisco project spans 530 square kilometres across 35 mineral licences in the states of Pernambuco and Paraíba.
Hot Rocks said it is supporting Prospectiva with its listing plans, suggesting a near-term catalyst for that holding.
Separately, WeShop Holdings, an existing investee company, has been added to the FTSE Russell annual reconstitution of the Russell 3000 Index, a broad US market benchmark.
"We are pleased with our new position in Colossal Energy and supporting Prospectiva with their listing plans," said Managing Director Gavin Burnell, adding that WeShop has recently appointed a new chief executive to lead its US expansion.
