http://www.businessday.com.au/business/fortune-smiles-on-fortiss-...

http://www.businessday.com.au/business/fortune-smiles-on-fortiss-lucky-lady-20110315-1bw0e.html

old news but in case anyone didnt see

Madam Cheung Kwan must be one of the happiest investors in the sharemarket at the moment, thanks to the generosity of Fortis Mining.

It might be a tiddler, but Fortis has been one of the most spectacularly successful floats in recent times. Investors rushed its $4 million raising at 20? a share in November and watched as it peaked at $2.90 earlier this month. It did not do so well in yesterday's global rout, copping a 50? hiding and retreating to $1.90 - but that still puts foundation investors a long way ahead in less than four months.

Cheung, though, has killed them. At the beginning of February she signed a deal to put $2.4 million into the company in exchange for 6 million shares.

In the following month, Fortis's stock rocketed because it was revealed to be nailing a deal to acquire the rights to two potash resources in Kazakhstan. (BHP Billiton made potash sexy last year with its aborted $40 billion offer for Canada's Potash Co.)

As a result, Fortis's share price had risen sixfold by the time Cheung's Grand Concord group was handing over a cheque for its new stock.

At Fortis's peak price of $2.90 a share, that meant Cheung's aptly-named, British Virgin Islands-registered, City Winner Holdings had an instant paper profit of almost $15 million. Small wonder she paid up on the stock early.