Natural resources
Advised Firestone Diamonds Plc, an international diamond mining and exploration company with assets in Botswana, on its acquisition of AIM company Kopane Diamond Developments Plc with assets in Lesotho for £52.7 million which constituted a reverse takeover for the company. Further advised the company on several secondary placings raising an aggregate of £48.15 million
Advised exploration company Kalahari Minerals Plc with assets in Namibia on its placing and admission to trading on AIM and on all subsequent corporate activity as its market capitalisation has grown from £14 million to £550 million including, the disposal of its uranium assets to Extract Resources Limited in consideration for a 42% shareholding, the disposal of its copper and other base metal assets to North River Resources Limited in consideration for a 40% interest, numerous secondary fundraisings, the issue of convertible notes, its £26 million acquisition of Coronet Resources Limited and on Takeover Code advice in relation to specific issues
Acted for Archipelago Resources Plc on its pre-flotation fundraisings and subsequent admission to AIM, raising £8 million for the purposes of exploration of gold interests in Indonesia and the Philippines and on its secondary placings (raising amounts of £30 million, £28 million and £9.7 million respectively) and disposal of assets. Advised on a share subscription and grant of options raising aggregate funds of £17.7 million
Advised Aurum Mining Plc, a company focused on acquiring gold projects in the former Soviet Union, on its initial placing and admission to AIM. Subsequently advised on its reverse takeover of Kaldora Company Limited, two returns of capital to shareholders in the aggregate sum of £236 million, and its disposal of its Kyrgyz mining assets for US$15 million. Also advised the company on a number of significant secondary fundraisings
Advised Cape plc on its step up from AIM to the Main Market and its simultaneous restructuring by way of a scheme of arrangement to put in place a new offshore parent company for the group and advise generally on UK matters. Cape is an international leader in the provision of industrial services principally in the oil and gas, minerals and mining sectors
Advised Cove Energy plc in connection with its acquisition of certain oil and gas assets in Mozambique and Tanzania which constituted a reverse takeover and a related £42 million fundraising. Advised on subsequent secondary placings raising £25.7 million and £110 million respectively. Also advised the company in connection with its farm-ins to the Rovuma Basin assets in Mozambique and on its acquisition of certain exploration assets in Kenya
Advised nominated advisor and broker, Cenkos Securities plc, in relation to a fundraising for Canadian oil and gas company Caza Oil and Gas, Inc. Caza, which is dual listed on AIM and Canada’s TSX, raised £18.9 million by way of a placing of new ordinary shares with institutional investors in the UK with the proceeds being used to fund future drilling, reworking and exploration projects
Advised Indian oil producer Hardy Oil and Gas plc on its US$30 million placing and admission to AIM, its subsequent US$29 million and US$42 million secondary fundraisings and its move up to the Official List of the London Stock Exchange. Advised on subsequent placing raising £10.8 million. Also advised on the farm-out of a 20 per cent. interest in the onshore Nigerian Oza field to Emerald Energy Resources Limited and the subsequent disposal of its Nigerian oil assets for US$4.5 million through the sale of Hardy Oil (Africa) Limited to Inergia Petroleum Limited