Ann: Paulsens Refurbishment Progress - April 2024, page-45

Part article in todays Fin Review. Collins Street fund is a major BC8 shareholder. They must see BC8 as multibag material.

This top-performing fundie is all-in on ASX gold stocks.
Fin review/ Mon.

In the eight years since Collins St Asset Management was founded, its chief investment officer Vasilios Piperoglou can only recall two occasions when a thematic has presented itself with enough “significant asymmetry” to justify a major investment.Collins St’s value fund was an early backer of uranium, and its holdings in the sector jumped between 400 per cent and 500 per cent over four years. The second was offshore oil services stocks, which surged between 300 per cent and 350 per cent in two and a half yearsBut Piperoglou is confident that Collins St’s latest bet will produce even better returns than both those opportunities.“With gold stocks, the way the asymmetry is playing out currently, I think there is a greater potential in this than the other two … we’re seeing the very early signs of the start of a gold bull market,” Piperoglou says.“At some stage, investors are going to get smacked in the face … there will be a moment within months, not years, where people wake up and these quality small caps will multibag.”A multibagger is every investor’s dream – a stock that at least doubles in value. And while the best chance of finding one is at the smaller end of the market, those companies also present the highest risk.But Piperoglou believes the local gold sector is filled with potential multibaggers, and it’s only a matter of time before the record gold price flows through to miners.That is why Collins St has spent the last 12 months undertaking its own due diligence by speaking to management and visiting operations to construct what Piperoglou describes as a portfolio of “some of the best, well run, well capitalised, pre-production plays on the ASX”