Lion Selection Group has committed $3 million to Saturn Metals (ASX:STN) and made a smaller investment of $250,000 in Sunshine Metals (ASX:SHN).

The company recognises that Saturn and Sunshine have established resources and strong management teams that suit Lion's investment pattern.

The company is well-funded to invest as opportunities arise due to having a $76.1 million cash reserve at the end of September.

Lion Selection is looking into assembling more Australian-based strategic materials, and base metals companies into its portfolio.