International Investor Support - CPR, Due Diligence & Valuations
Over the last 5 years IMC has supported the flotation of mining companies with a combined market capitalisation in excess of £3 billion on the World’s Stock Exchanges, including the LSE, AIM, NYSE, TSX, JSE and the Moscow Stock Exchange. Combining this global understanding with IMC's vast commodity experience further enhances IMC’s reputation as the leading provider of consultancy services in the provision of listing documents.
IMC has a strong reputation for competent person's reports (CPR), due diligence, financial analyses, mineral expert reports (MER), valuations and bankable document preparation as a means to support investors and owners in the sale, acquisition and financing of mining assets.
IMC has experience in a number of reserve/resource classification systems including the Joint Ore Reserves Committee (JORC) Code and has prepared numerous "NI 43-101" compliant documents for companies listed on the Toronto Stock Exchange.
- Bucket Wheel Excavator
IMC were invited back by PTBA to update the reserve and resource figures for the company’s licence areas on Sumatra. IMC used the USGS system for reporting and classifying coal resources. The figures produced were not only used in the Client’s annual report but also for PTBA Publish Capital Market. The Consultants report also included reviews of PTBA’s business plan and the current mining practices at their open pit sites and one underground operation.
- Iron Ore Mine
IMC undertook an independent appraisal report of a bid made by an international mining company for the acquisition of the assets of the former Bong Mining Company, held by the Government of Liberia. IMC reviewed the bidders profile, previous investments and the authenticity of the claims of technical capability.
IMC undertook a MER evaluation of a coal company in the Czech Republic to be included as part of the Client’s preparation for flotation on the LSE main board. This MER work is continuing, as the Client chose not to proceed due to marketing considerations.
IMC undertook JORC reserve valuations of Severstal’s coal and iron ore operations in connection with a corporate restructuring and in preparation for a listing on the London Stock Exchange.
IMC were retained to prepare a CPR for a coal mine currently partly owned by the Client as part of an IPO listing on the London AIM market. The mine is located in the Lugansk region near the border with Russia.
IMC prepared a CPR providing an independent professional opinion on four coal mining operations of OAO Raspadskaya in support of a listing on the Moscow Stock Exchange.
IMC carried out reserve valuations (JORC) for Evraz Holdings coal and iron ore assets in support of the introduction of International Accounting Standards and in preparation for a listing on the LSE.
- Hochschild Selene Site
Invited by Hochschild Mining Pty to prepare the CPR for a main board listing on the LSE. A multi-disciplinary team assessed silver and gold operations and projects in the high Andes in Peru and in Argentina and Mexico. Reportedly this was the first CPR submitted to the UKLA and returned without technical comment.
Democratic Republic of Congo:
The consultant is currently advising a private mining company in the DRC on the development and rationalisation of their mining operation. IMC compiled a business plan to attract foreign investment in order to expand the company's operations.
The preliminary stage is currently underway and the consultant, in conjunction with the Client, are approaching a number of financial institutions both within Africa and globally.
- Aguas Tenidas Underground Mine
Appointed by potential lenders as an Independent Technical Consultant to carry out a due diligence of the Aguas Teñidas Cu-Zn-Pb project owned by Iberian Minerals Corporation. This work includes a complete technical review of all technical aspects of the project, assistance to the bank to set up a financial model, completion test and monitoring during construction and operation.
- Agua Blanca Plant during Construction
Appointed by the financing agent (Investec Bank UK Ltd.) as Independent Technical Consultant for the Agua Blanca Ni-Cu-PGM project in southern Spain. Work includes progress monitoring during construction of the 1.8 Mtpa open pit, processing plant, tailings and waste rock storage, water supply and ancillary facilities, to carry out commissioning and completion tests, and to review operating performance and costs on behalf of the banks.
- Kazakhmys Office
The consultant was invited by Kazakhmys, the 8th largest copper producer in the world, to provide a Competent Persons Report for the UK Listings Authority encompassing 19 mines, 9 concentrators, 2 copper smelters, a zinc plant, power utilities and a precious metals plant for listing on the London Stock Exchange. The team comprised of 14 specialists encompassing underground and open pit mining engineers, geologists, environmental engineers and financial analysts. The mining activities were located in three distinct areas in Kazakhstan and comprised of 17 copper mines of which 5 were open pit operations, 12 underground operations along with 2 surface coal strip mining operations. The reserves and the resources were evaluated at each of the mines and reported accordingly to international standards. All mining and environmental aspects were reviewed for each operation and a valuation of the company made.
- Site Visit of Mutún Iron Ore Deposit
Assisted Brazilian CVRD to carry out a due diligence of the Mutún iron ore project which had been offered for privatisation by COMIBOL, the state owned mining organization of Bolivia. The due diligence support included the review and advice on documentation available in Bolivia, participation in a site visit, and in the preparation of financial analysis, to define CVRD’s strategy regarding participation in a future bidding process.
Undertook the production of an independent competent person’s report in support of the IPO listing on the London Alternative Investment Market (AIM) of a confidential company with two individual mining companies and a number of coal mining operations held within these companies.
- Sierra Rutile Mineral Dressing Plant
Contracted by the Delegation of the EC in Sierra Leone to review the process of re-opening of Sierra Rutile Mine under the 9th EDF. Reviewed the refurbishment project with regard to the management of the mine, the technical, financial, and environmental status, and Sierra Rutile Ltd.’s commitment to create of a non profit organisation for the community.