Perceptive subscribers may have noticed the increased number of stocks owned by staff in this issue (see bottom of page 2). While we'd like to have the spare capital floating around to add so many stocks, sadly, that's not the case.

The increase is almost entirely due to a new analyst, Tom Elder, coming on board. Tom is a resources specialist with many years of 'on and in the ground' mining industry experience.

We're pleased to have him and look forward to the many industry insights he brings to The Intelligent Investor team