Investing Policy

Investing Policy

The Company has targeted and will continue to target the acquisition of mining projects by direct investments or through farm-ins. The investments may be in companies, partnerships, special purpose vehicles, joint ventures or direct interests. Target investments will generally be involved in projects in the development and/or producing stage and the Company may consider exploration opportunities. Such investments may take the form of equity, debt and/or other financial instruments. The Company’s interest in a proposed investment may range from a minority position to 100% ownership.

The Company has focussed and will continue to focus on projects located in North and South America, sub-Saharan Africa and Europe. The Directors propose to invest in companies and/or projects within the natural resources sector with a particular focus on opportunities in selected base and precious metals.

In selecting investment opportunities, the Board has focussed and will continue to focus on companies and/or projects that are available at attractive valuations and hold opportunities to unlock embedded value or where there is the prospect of adding considerable value.

The Company proposes to carry out comprehensive and thorough project review processes in which all material aspects of any potential investment will be subject to appropriate due diligence. It is likely that the Company’s financial resources will be invested in a limited number of projects.

The Company initially intends to deliver Shareholder returns through capital growth and may, in the medium term, be in a position to distribute income via dividends.