London / Vancouver
Mkango to Acquire 100% of Songwe and Maginito
MKANGO TO ACQUIRE 100% OF BOTH THE SONGWE HILL RARE EARTHS PROJECT AND MAGINITO, AND RAISES £5.52M TO ACCELERATE ITS INTEGRATED MINE, REFINE, RECYCLE STRATEGY
Restructuring of Mkango and Talaxis' interests in both the Songwe Hill Rare Earths Project and Maginito simplifies and optimises the Company's ownership structure prior to delivery of the Songwe Hill Feasibility Study, and significantly enhances its growth potential:
Mkango to increase ownership of the Songwe Hill Rare Earths Project and of Maginito to 100% in a £13m share transaction with Talaxis
Mkango retains all offtake rights relating to Songwe Hill, Maginito and the 100% owned Pulawy Separation Plant project in Poland
Complementary £5.52m fundraising at a 2.9% premium to its five-day VWAP, including a £700,000 investment by Non-Executive Chairman Derek Linfield
Mkango is fully funded to complete the Feasibility Study for the Songwe Hill Rare Earths Project, targeted for completion in Q1 2022
Mkango now positioned to accelerate its integrated Mine, Refine, Recycle strategy with a simplified and vertically aligned ownership structure and enhanced financial flexibility
Strong market backdrop with accelerating demand for rare earths permanent magnets and increased focus on security of supply and recycling of rare earths
Boutique Bacchus Capital Launches Technology Unit With van Wyk Hire
A boutique advisor set up by the former head of European investment banking at Jefferies is launching a new technology unit in London.
Bacchus Capital, which is led by Peter Bacchus — a former senior dealmaker at Jefferies, who was also global head of metals and mining investment banking at Morgan Stanley — has hired Chris van Wyk as its new head of technology banking advisory, it said in a statement.
Van Wyk has spent much of his career in technology firms, with previous roles including chief executive of Luxembourg-based clean technology firm, Weteq. He has also held senior positions in venture capital firms set up by Mitsubishi Corporation. His focus is likely to be on technology that dovetails with the natural resources sector, and will be based in London.
Bacchus Capital’s Uranium Venture, Yellow Cake plc, Reaches Significant Milestone as Market Capitalisation Exceeds US$500 million
Successful US$86 million capital raise for further uranium purchases, and in excess of US$225 million equity raised in 2021
Yellow Cake plc’s (the “Company” or “Yellow Cake”) market capitalisation exceeds US$500 million
Second successful capital raise in 2021 advised by Bacchus Capital
Total capital raised in 2021 now exceeds US$225 million, and following the already agreed or planned purchases of uranium, Yellow Cake will hold over 15 mmlbs of U3O8
LONDON, 30 June, 2021 /PRNewswire/ -- Bacchus Capital, the independent London-based investment and merchant bank specialising in cross border public market M&A and natural resource and technology sector ventures, is pleased to advise that Yellow Cake Plc, a company founded and listed by Bacchus Capital, has achieved and exceeded the milestone market capitalisation of US$500 million. Yellow Cake was listed by Bacchus Capital on the London Stock Exchange in July 2018 with an associated capital raising of US$200 million.
Bacchus Capital Backed Yellow Cake In Highly Successful US$88.1M Raising
Yellow Cake plc (AIM: YCA) has raised approximately £62.5 million (approx. US$88.1 million) through a successful share placement and retail offer.
The placement of 23,947,009 new Ordinary Shares was taken up by existing and new institutional investors at a price of £2.50 per share via an accelerated bookbuild.
Concurrently with the Placing, the Company made an offer via the PrimaryBid platform of 1,052,991 new ordinary shares in the company (at the Placing Price to provide certain retail investors with an opportunity to participate in the Placing.
Yellow Cake was founded and established by Bacchus Capital to be a specialist company operating in the uranium sector with a view to holding physical uranium for the long-term.
The Placing Shares and the Retail Shares being issued together represent approximately 19.4% of the existing issued ordinary share capital (excluding treasury shares) of the company prior to the Placing and the Retail Offer.
YELLOW CAKE PLC
Results of Placing and Retail Offer
Yellow Cake plc (AIM: YCA), founded and established by Bacchus Capital to be a specialist company operating in the uranium sector with a view to holding physical uranium for the long-term, is pleased to announce that 23,947,009 new Ordinary Shares (the “Placing Shares”) have been placed with existing and new institutional investors at a price of £2.50 per share (the “Placing Price”) via an accelerated bookbuild (the “Placing”). Concurrently with the Placing, the Company made an offer via the PrimaryBid platform of 1,052,991 new ordinary shares in the Company (the “Retail Shares”) at the Placing Price (the “Retail Offer”), to provide certain retail investors with an opportunity to participate in the Placing (the Placing and Retail Offer together the “Fundraise”).
Cantor Fitzgerald Canada Corporation (“Cantor”), Canaccord Genuity Limited (“Canaccord”) and Joh. Berenberg, Gossler & Co. KG, London Branch (“Berenberg”), acted as Joint Bookrunners (Cantor, Canaccord and Berenberg, together being the “Joint Bookrunners”). Bacchus Capital Advisers acted as Financial Adviser.
Nord Gold plc
Confirmation of Intention to Float on the London Stock Exchange
London, 10th June 2021: Following the announcement by Nord Gold plc (“Nordgold” or “the Group”), the internationally diversified pure-play gold producer, on 3 June 2021 of its expected intention to float, the Group today confirms its intention to undertake an initial public offering (the "IPO" or the "Offer") and certain details of the Offer. Nordgold intends to apply for admission of its Shares to the premium listing segment of the Official List of the FCA and to trading on the London Stock Exchange's main market for listed securities (together, "Admission"). The Shares have been admitted to trading on the Moscow Exchange and trading is expected to commence on or shortly after Admission. The final offer price in respect of the Offer (the "Offer Price") will be determined following a book-building process, with Admission currently expected to occur in late June/early July.
Russia’s Nordgold prepares for London IPO
Latest gold miner to choose UK capital for listing as metal’s price rallies
By: Henry Sanderson
Russian gold miner Nordgold plans to list in London as it looks to take advantage of a rebound in the gold price.
The company intends to sell a 25 per cent stake to investors, including via a secondary listing in Moscow, said people familiar with the company. It is set to file a registration document this week. The miner is the latest to come to the UK capital to capitalise on interest in gold, after prices surged last year following the onset of the pandemic. Canada’s Yamana Gold listed in London last year, while Endeavour Mining is set to join the market this month.
Bacchus Capital Advisers are financial advisers to Nordgold while Citi, JPMorgan and VTB are global coordinators for the offering.
Boutique Bacchus Capital expands into North America with veteran dealmaker hire
By Paul Clarke
Monday May 10, 2021 12:01 am
A boutique advisor set up by the former head of European investment banking at Jefferies four years ago, is opening its first office outside of the UK by launching in North America.
Bacchus Capital, headed by Peter Bacchus — a former senior dealmaker at Jefferies, who was also global head of metals and mining investment banking at Morgan Stanley — has hired veteran investment banker Steven Latimer to kick-start its new North America unit.
Titan Minerals Signs Term Sheet for the Sale of Zaruma Mine & Portovelo Process Plant for US$15.0 million
Titan Minerals has entered into a term sheet with Pelorus Minerals for the sale of its non-core Zaruma Mine and Portovelo Process Plant assets
Consideration is US$15 million in staged cash payments plus a 2% net smelter return royalty on future copper production from the Zaruma Mine concessions
The sale of the Zaruma Mine and Portovelo Process Plant will strengthen the Company’s cash position and balance sheet
London / Vancouver
Euro Manganese Announces Private Placement to Accelerate High-purity Manganese Development
AUD$30.0 million (CAD$29.0 Million) private placement oversubscribed, with strong institutional participation
Proceeds of the Offering will be used to further advance Chvaletice Manganese Project, allowing completion of all site and technical work required for a final investment decision expected in 2022
Offering was anchored by a strategic investor and an ESG-focused fund, with strong support from several existing institutional shareholders
Demand for high-purity manganese products continues to grow rapidly, bolstered by recent market developments
Proposed Purchase of Uranium, Placing of New Ordinary Shares and Retail Offer
Yellow Cake plc (AIM: YCA) ("Yellow Cake" or the "Company"), founded and established by Bacchus Capital to be a specialist company operating in the uranium sector with a view to holding physical uranium for the long-term, today announces its intention to conduct a non-pre-emptive placing of new ordinary shares in the Company (the "Placing Shares") at the Placing Price (as defined below) to raise a minimum amount of approximately US$110 million (the "Placing").
Highlights of the Placing
Intention to raise minimum gross proceeds of approximately US$110 million through the Placing
The proceeds of the Placing will be used:
to fund the purchase of at least 3.5 mmlb of physical uranium ("U3O8") under the Company's agreement with JSC National Atomic Company Kazatomprom ("Kazatomprom") (the "Kazatomprom Framework Agreement") at a price of US$28.95 /lb; and
to pay certain costs associated with the Placing and for working capital and general corporate purposes alongside the potential opportunistic purchase of additional uranium for value.
The Company believes that the current level of the uranium price offers a compelling buying opportunity. Compound supply curtailments, particularly Cameco suspending operations in 2020 and subsequently producing only 5 mmlb of uranium during the year and Kazatomprom continuing to 'flex down' production by 20% through 2022 have created an increasingly tightened and imbalanced market, which is beginning to translate into strong support for uranium equities and significantly expanded interest in uranium as an asset class; however, this is yet to meaningfully impact reported uranium spot prices, with the spot market being exceptionally thinly traded, and utilities slow to react.
Russian Miner’s IPO Could Fill In London’s Gold Hole
Nordgold might meet investor appetite for a new buccaneer. It helps that bullion is still shining.
Clara Ferreira Marques27 January 2021, 22:30 GMT
Over two decades, Africa-focused Randgold Resources Ltd. earned a reputation for running efficient operations in tough places, with lustrous shareholder returns and a premium valuation to match. Since Mark Bristow's outfit agreed to merge into Barrick Gold Corp. in late 2018 to create a bullion mining giant traded in North America, there's been a space open on the other side of the pond for a midsize swashbuckler.
Nord Gold, owned by the family of Russian oligarch Alexey Mordashov, wants to fill that gap.
Russian Gold Miner Nordgold Aims to List in $5 Billion London IPO
Published in the Wall Street Journal
By Alistair MacDonald and Ben Dummett
Updated Jan. 20, 2021 11:04 am ET
Russian gold miner Nord Gold UK Societas, or Nordgold, is looking to list in London as early as this summer, capitalizing on the precious metal’s long price run to become the largest mining company to float globally in at least five years, according to people familiar with the matter.
Nordgold’s initial public offering could value it at more than $5 billion and would float over 25% of the company, some of these people say. With two Canadian gold miners moving their listing to the U.K., Nordgold’s IPO is a boost for London’s financial district amid concerns that Brexit makes it less attractive.
The company has already hired banks to lead the IPO, according to a person familiar with the matter. Bacchus Capital is Nordgold’s financial adviser for the possible offering.
Paul Cahill Transitioning to BCA Advisory Board
Following the successful establishment of Bacchus Capital Advisers Limited (“BCA” or “the Company”) as an independent investment and merchant banking platform four years ago by Peter Bacchus, Paul Cahill, Richard Allan and Chris Johannsen, and as anticipated at the outset, Paul Cahill has decided to transition onto the BCA Advisory Board and agreed to act as Chairman of that Board. He will continue as a Director of BCA and will remain closely involved in BCA’s business on behalf of key clients and in supporting new strategic initiatives for BCA. He remains a significant shareholder in the Company.
Peter Bacchus, Chairman and CEO of BCA, said: “We are delighted that Paul will remain closely involved with us and committed to supporting the continuing success of Bacchus Capital. His significant experience, knowledge and networks in the metals and mining sector, resulting from his roles as an investment banker and as a senior executive in the Anglo American Group, will be very valuable to us as we continue to grow the business.”
London / Vancouver
Mkango Appoints Bacchus Capital As Strategic And Financial Adviser
Mkango Resources Ltd. (AIM/TSX-V: MKA) (the "Company" or "Mkango") is pleased to announce the appointment of Bacchus Capital Advisers Limited (“Bacchus Capital”) as strategic and financial adviser, encompassing mergers and acquisitions, takeover defence, strategic and other financial advice.
Ironbark Mandates Bacchus Capital Advisers to Assist with Reaching FID in 2021
Ironbark Zinc Limited (“Ironbark”, “the Company” or “IBG”) is pleased to update its shareholders with respect to the appointment of London based Bacchus Capital Advisers (“BCA”) to assist the Board with achieving a positive Final Investment Decision (“FID”) in 2021.
BCA, led by Peter Bacchus, has extensive experience in resource capital markets, including in the northern hemisphere, where Ironbark is expected to focus its FID process in 2021. Peter Bacchus has raised in excess of $15bn in public and private capital for the global natural resources sector, and completed some of the industry’s most transformational transactions
Mandate is for an initial 12-month period and BCA’s broad scope of work covers potential debt & equity raisings, M&A and takeover defence, considerations pertaining to potential project partners, and major commercial opportunities
The IBG Board believes that BCA is well positioned to assist the Company to address these key challenges
Euro Manganese Announces Private Placement
C$11.4 Million (A$12.0 million) private placement oversubscribed, with strong institutional participation
Euro Manganese to place order for its demonstration plant immediately
VANCOUVER, British Columbia, Oct. 21, 2020 (GLOBE NEWSWIRE) -- Euro Manganese Inc. (TSX-V / ASX: EMN) (the "Company" or "EMN") is pleased to announce a private placement financing (the "Offering") of 1,933,246 common shares ("Shares") and 58,066,754 CHESS Depositary Interests ("CDIs", with each CDI representing one Share), at a price of C$0.19 per Share or A$0.20 per CDI, for aggregate gross proceeds of approximately C$11.4 million (A$12.0 million) (the "Offering").
Net proceeds of the Offering will be used by the Company to further progress its Chvaletice Manganese Project in the Czech Republic (the “Project”), including the purchase, installation and operation of the Demonstration Plant, advancing the Project’s permitting and feasibility study, and for general corporate purposes. The issue was oversubscribed and received strong support from both new and existing shareholders, including a number of new institutional and specialist resources investment funds.
Bacchus Capital Leads Third Successive Gold Sector M&A Transaction in 2020
Advises Golden Star Resources on the Sale of the Bogoso-Prestea Gold Mine for up to US$95 million
Bacchus Capital advises Golden Star Resources on the sale of its Bogoso-Prestea gold mine in Ghana, for a purchase price of up to US$95 million
Further demonstrates Bacchus Capital’s cross-border M&A credentials following its lead advisory role on Titan Mineral’s successful contested public takeover of Canadian listed Core Gold in January 2020, and Nordgold’s ongoing contested takeover of ASX listed Cardinal Resources
Nordgold announces UNCONDITIONAL on-market ALL CASH offer for Cardinal
Nordgold is pleased to announce an unconditional on-market cash offer to acquire all of the ordinary shares in Cardinal that it does not already own
Consideration of A$0.66 per share represents a 164% premium to the closing price on 13 March 2020, the last trading day prior to the announcement of Nordgold’s indicative proposal and request for due diligence to Cardinal (“Preliminary Proposal”), and is 10% higher than the highly conditional proposal subsequently announced by Chinese group Shandong Gold
Values Cardinal at A$347 million / US$241 million based on 100% of the ordinary equity on issue
Accepting shareholders will receive full cash consideration within 2 business days (on a T+2 basis)
Offer represents a compelling opportunity for Cardinal shareholders to realise certain and immediate value
Global Partner Search Process Launched with Bacchus Capital Advisers
Vancouver, Canada (May 28, 2020) – Euro Manganese Inc. (TSX-V / ASX: EMN) (the “Company” or “EMN”), holder of 100% of the rights to Chvaletice Manganese Project (the “Project”) in the Czech Republic, is pleased to announce that it has initiated a process with its financial adviser, Bacchus Capital Advisers (“BCA”), to secure a strategic partner to assist with the development of the Project.
Bacchus Capital Leads Recent Consolidation in Global Gold Sector
Advises on Nordgold's acquisition of 19.9% stake and A$227m pre-conditional proposal to acquire Cardinal Resources
- Bacchus Capital advising Nordgold on its acquisition of strategic stake and A$227m pre-conditional proposal to acquire ASX listed Cardinal Resources
- Follows successful contested public takeover of Core Gold in Canada by Bacchus client Titan Minerals in January 2020