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Alternate Capital Sources: SWF/SOEs, Funds & Strategic Investors

Alternate Capital Sources: SWF/SOEs, Funds & Strategic Investors. Presented at the SME Conference: Current Trends in Mining Finance April 29, 2013. Funding Gap. Potential Alternate Sources. In addition to commodity-denominated /linked financing and streaming / royalty structures.

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Alternate Capital Sources: SWF/SOEs, Funds & Strategic Investors

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  1. Alternate Capital Sources: SWF/SOEs, Funds & Strategic Investors Presented at the SME Conference: Current Trends in Mining Finance April 29, 2013

  2. Funding Gap

  3. Potential Alternate Sources • In addition to commodity-denominated /linked financing and streaming / royalty structures

  4. SWFs/SOEs

  5. Financial Investors

  6. Loans versus Bonds

  7. Strategic/Industry Investors • Range of investors often users of commodity • Utilities in need of uranium, aircraft engine manufacturers in need of high grade cobalt • Traders adept at arbitraging opportunities in the commodity sector • Objectives – integrated with their business • Often more joint venture than debt like structures

  8. Strategic/Industry Investors • Offer bridge or gap funding in exchange for long term offtake • Due to commercial interests, willing to take risks traditional lenders will not • i.e. Development risks

  9. Conclusion     

  10. shearman.com shearman.com

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