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Transactions
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Case Studies
Case Studies
Riversdale Mining Limited – South Africa & Mozambique
Investment Rationale
An anthracite producer in South Africa with 13 billion tonnes of thermal and coking coal resources in Mozambique
Convertible note investment was required to fund the acquisition of the Zululand Anthracite Colliery in South Africa from BHP (operating asset)
Strong management
Subsequent investments based on acquisition of coking coal projects in Moatse Basin in Mozambique
Active Involvement from the LinQ Group
2004/05 LinQ assisted in acquisition funding of the Zululand Anthracite Colliery ($30 M) from BHP Billiton
Established strategic relationship with management
September 2007, LinQ awarded a 5 year strategic investment mandate to source cornerstone investor
LinQ largest shareholder with 9% for initial 4 years
Riversdale acquired by Rio Tinto in Q4 2011 for >$4bn
Atlas Iron Limited - Australia
Investment Rationale
Atlas is an Australian iron ore company, mining and exporting Direct Shipping Ore (DSO) from its operations in the Northern Pilbara region of Western Australia
Strong energetic management
Subsequent investments made by LinQ on the back of strong organic growth and further acquisitions
Producing at 6 Mtpa to 16 Mtpa DSO haematite
Active Involvement from the LinQ Group
Nov 2005, LinQ Lead arranger $6 M placement
May 2006, LinQ Arranger $20 M placement
June 2007, LinQ awarded Acquisition Finance Advisory mandate
August 2007, LinQ co-Lead for $85 M raising - LinQ introduced largest shareholder into Atlas
August 2009, LinQ awarded sell mandate for Ridley magnetite project
LinQ largest shareholder for initial 4-5 years
Ferrous Resources Limited – Brazil
Investment Rationale
Ferrous is a large unlisted iron ore emerging producer based in the iron ore quadrangle in Brazil
World class iron ore project located in a well-endowed iron ore producing region
5 – 6 BN tonnes mineral resource (mainly itabarite)
Currently producing fines with large expansion targeted for 2014
Active Involvement from the LinQ Group
First investment April 2007
Entry valuation $60 M
Currently valued at approximately $1 BN