Stan Bharti (left), Larry King and Fahad Al Tamimi. Photo: Forbes & Manhattan

Well-known Toronto-based mining and energy promoter Stan Bharti of Forbes and Manhattan has opened up to Mineweb’s Kip Keen. Here’s a link to the article.

Excerpts include:

“At Forbes & Manhattan we always tell people, find good assets in emerging markets so you don’t overpay for them. I mean any fool can go and pay a billion dollars and buy a world class asset. But then your rate of return is going to be limited. So our strength has been finding good undervalued assets that people may not see the value in and then over three to five years turning them around, putting in capital and a good management team.”

“Our juniors are always on a three to five year plan.”

“It’s a challenge for people like us to find new sources of capital. What are the new sources of capital? Lots of new money in Russia. Lots of money in the Middle East. Lots of money in China. Lots of money in India. Lots of money in Brazil. That’s where we’re going for our capital now. Right?”

“Traditional funds in Toronto and to some extent New York have disappeared but there’s lots of money there. Private equity money is there. Individual private family wealth is there, but they need more work. You’ve got to have real assets. You’ve got to have real companies with good management teams. Then the capital comes. But it’s a lot more work.”

“We got spoilt, don’t forget, from 2005 to 2008 when you could lift the phone and get a bought deal in two minutes.”

“SB: It’s up until a couple really good discoveries. What we need are some genuine, real big discoveries. If you look over the last four or five years a lot of the operations that have done well are existing old mines.”

“Take our track record. Where have we made most of our money? Desert Sun. It was an existing mine in Brazil. Avion. Existing mine in Mali. Consolidated Thompson. Existing deposit in a well known camp.”

“In the nineties, two thirds of the world’s resource financings were done on the TSX. Now it’s one third. Still the number one spot. But London has taken over a lot of that. Why is that? Because a lot of new money, the Nouveau Riche, are moving to London. Almost all the Russian oligarchs are now in London. The Chinese are now in London. The Middle East has always been there. The new Africa money is coming. All of that, the focal point is almost always London.”

Read Kip’s article over at Mineweb.