It is a rare bit of good news for Clive Palmer. As his wealth falls and his political career seemingly draws to an end, Palmer's investment in a small mining stock is at least one move that has gone right for him in 2016.

Shares in minnow De Grey Mining, in which Palmer's Mineralogy Group has a stake, are up 200 per cent since the beginning of the year as hopes rise about its gold project in Western Australia's Pilbara.