Mining Eye Q3 2013


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Top five equity placements (Q3 2013)

Company Total raised Primary use of proceeds
Amur Minerals


To advance development of the Kun-Manie nickel copper project in Russia
Beowulf Mining £4.1m For further drilling at the Ballek copper-gold JV and to progress the Kallak iron ore project
Firestone Diamonds £3.9m For working capital at the Liqhobong Diamond mine in Lesotho
Mwana Africa £3.8m To accelerate development of the company's assets
SolGold £3.7m Toward the Phase 1 drilling program at its Cascabel copper-gold project in Ecuador

Source: London Stock Exchange, company announcements

Selected financings announced or closed in Q3 2013

Company Total proceeds Type Investor
Primary use of proceeds
African Minerals $990m Equity (company and project-level) Tianjin Materials and Equipment Group Corporation Toward development of Tonkolili iron ore and related infrastructure projects. Includes offtake and blending/marketing JV agreement
Aureus Mining $100m Project debt and subordinated debt facilities Nedbank Capital and Rand Merchant Bank Development of the New Liberty Gold project in Liberia
Weatherly International $91m Loan (amendment) Orion Mine Finance To fund to production the 17,000tpa Tschudi SX-EW copper project.
Minera IRL < $80m Equity and bridge loan CIMINAS (consortium of Argentinian private capital investors) 100% of the financing required to develop the Don Nicolas gold project in Argentina
Arian Silver $16m Convertible Platinum Long Term Growth Fund VIII Acquisition of a 1,500tpd silver-lead-zinc processing plant
Atlantic Coal £5m SEDA-backed loan YA Global Master SPV Ltd Toward development of the Pott & Bannon coal site in Pennsylvania

Source: company announcements

Equity fundraising on AIM - mining and all AIM (2004 - Q3 2013)

Source: EY, AIM market statistics