Yesterday we called one of our favourite gold stories, Roxgold (ROG:TSXV) to get an update from management not only on their two recent announcements (1. receiving their mining permit and 2. closing a $30 million bought deal financing), but also on how the political unrest in Burkina Faso is playing out. Roxgold President and CEO… Continue Reading
Roxgold (ROG:TSXV) which is developing the ultra high-grade Yaramoko gold deposit in Burkina Faso has been approved by their banking syndicate for the previously announced $75 million debt package. The loan has a term of 6 years and an interest rate of between LIBOR +4.25% and +4.75%. The mandated banks, which included Societe Generale and Credit Suisse,… Continue Reading
Australian-listed copper developer, Avanco Resources (AVB:ASX), was first brought to my attention by Mr. Scherb of Appian Capital. He informed me of his firm’s investment in Avanco and since then I have watched it reorganize and work to close the necessary financing to develop its staged copper project in Brazil. Avanco is working to build a two-staged copper mine. The first stage,… Continue Reading
Few gold developers in the world today have an opportunity like Roxgold Inc (ROG:TSXV). The company is developing the high-grade Yaramoko gold project in Burkina Faso that has an after-tax IRR of nearly 50% (in a sector where you are lucky to achieve double-digit returns). The economics are unique for three reasons. First, the grade, which sits… Continue Reading
This morning, African gold developer Roxgold (ROG:TSXV) announced they have mandated Credit Suisse and Societe Generale to find them $75 million in a senior project debt facility by year end. The money will be used to bring the high-grade Yaramoko project in Burkina Faso into production by early 2016. The project is expected to cost around… Continue Reading
A few weeks ago we interviewed Michael Scherb, the young founder of London-based mining private equity fund Appian Capital Advisory LLP. In that interview Mr. Scherb told us, he saw tremendous value in the mining sector and aimed to allocate $150 million in select public and private companies this year. Well, Mr. Scherb continues to deliver on his promises. On… Continue Reading
There has been a lot of talk about private equity ‘circling’ the mining space, however little has come to fruition. Today we meet a dynamic young financier who has already begun to deploy $375 million in the sector. Michael Scherb is the 32-year-old founder of Appian Capital Advisory LLP, a mining-focused private equity investment firm established in… Continue Reading
