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Americans look to Australian assets
truthingold.com / Amanda Saunders / February 16, 2015 at 09:33
Cashed-up mining specialist private equity funds in the United States and Canada are preparing to buy into gold projects held by Australian juniors starved of capital and funding.
The North American funds’ interest in Australian assets follows a flurry of equity raisings in Canada last month, which saw US-based private equity firms pitch in almost $100 million.
Liam Twigger, managing director of Perth-based resources advisory firm PCF Capital Group, said funds were looking at deals of $50 million to $100 million in the Australian gold sector.
“North American private equity funds are coming through with some pretty attractive proposals for some of the better gold assets that are seeking funding,” he said.
“The market has picked up in January and we’ve seen a flood of interest from these funds.”
The firms were hunting projects that were in production or have the potential to produce cash flow within a year or so, but have been unable to get up amid depressed gold prices.
“They are not passive, they want to be partners with influence,” Mr Twigger said.
“They will look to earn a majority stake in the project but they recognise that companies need to raise money to stay alive so they will take some equity as well.
The post Americans look to Australian assets appeared first on Silver For The People.
Source: http://silveristhenew.com/2015/02/16/americans-look-to-australian-assets/
