All it means is that previously Robin Widdup ran the portfolio...

All it means is that previously Robin Widdup ran the portfolio of Lion Selection Group through an external company called Lion Manager. He's now going to run it directly through being Executive Chairman of Lion Selection Group. They are separate companies. It's a bit of cleaner structure doing it this way and he arguably has a bit more direct control. He's the largest shareholder with 16.7 million shares so you couldn't say he lacks skin in the game.

Lion Selection Group would appear to be way undervalued given it's valued at less than it's net cash not even counting it's other assets. They have a pretty good long term record of paying out profits to shareholders but at this stage see so many good value investments in small cap miners that they are going to focus on building up their holdings whilst these companies are cheap and starved of capital. IF you believe that at some point in the future the small cap miners are going to run then it's pretty well a non brainer investment and I hold heaps.