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Magmatic Resources propels racers to early lead

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Angie Ellis of 80 20 Investments has started strongly in the first week of the new Shares Race, with a resources company and a biotech helping to turn her original $100,000 into $124,427.

Ellis’ original $10,000 in Magmatic Resources, a gold and copper explorer, is worth $18,333 – the best-performing stock tip of all. The company’s shares climbed after it revealed Japan Oils and Gas had pulled out of its Parkes Project joint-venture, leaving Magmatic with a 100 per cent stake.

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The first and second placed racers hold Magmatic Resources, which their orginal $10,000 in the copper-gold explorer worth $18,333.Credit:Andrey Rudakov

Ellis also holds Zoono Group, with her stake in the anti-microbial products company worth $17,442.

Dan Silver, the co-chief executive investment platform Stake, who won the Shares Race last time around, just ahead of Ellis, is in second place with a portfolio value of $114,141. Like Ellis, he holds Magmatic Resources.

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