UK fund manager ups stakes in WA stocks

Specialist UK fund manager New City Investments Mangers Ltd has taken a liking to several WA-based resource stocks, beefing up its interests in over five companies.

In notices to the stock market today, the fund manager increased its stake to above five per cent in Extract Resources Ltd, Nido Petroleum Ltd and North Australian Diamonds Ltd.

The manager and its affiliates also took a 5.45 per cent interest in Uranex NL but then issued a notice stating it had then ceased to be a substantial holder. Nearly 135,000 Uranex shares were traded today.

In addition, New City beefed up its stake in Oklo Uranium Ltd to 14.48 per cent and 12.41 per cent in Kairiki Energy Ltd.

Meanwhile New Jersey-based fund manager Geiger Counter lifted its interests in Mantra Resources Ltd (5.57 per cent), Wildhorse Energy Ltd (6.44 per cent) and Western Uranium Ltd (11.66 per cent).