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Reports

African Gold M&A — The Market’s Open

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Today we are publishing a thematic report on African Gold M&A entitled The Market is Open. In this report we take a look at the past, present and future for M&A activity in the African gold space (excluding South Africa). We review M&A activity over the past ten years to provide some context, we assess the current strategies and financial…

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West African Gold — Plenty to Play For

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In an 80-page report, Jim Taylor and David Bird have reviewed the state of the West African gold sector. The piece includes features on the area, the main countries involved and the companies active in the space. The gold industry in West Africa remains healthy. Gold output is robust, with slowly declining average grades partly offset by improved recoveries. Six…

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Chrysos Corporation — Catching Fire

By | Reports, RFCA Comment | No Comments

New technologies can be disruptive, realign profit centres and drive economic change across industries and entire economies. Indeed, as the economist Joseph Schumpeter’s process of ‘creative destruction’ suggested, the biggest leaps in economic development are often driven by new technology. So, here is one that might just do that in the mining industry. While we’ve mentioned it before, as it…

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Where are we in the mining capital cycle?

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The mining industry is cyclical. Sir John Templeton famously said that the four most expensive words in the English language are: “this time it’s different”. Taking this into account, it’s worth having a look at the capital cycle in relation to the mining industry to get some pointers as to where we are in the cycle and what we could…

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Company Winners and Losers in Africa

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On 28th January RFC Ambrian presented Company Winners and Losers in Africa at the Finding Petroleum’s Africa conference. We believe that for those well placed oil and gas companies that can hold their nerve, this is a time to make substantial long-term gains. What do we mean by well placed? These are production companies that combine low financial leverage and…

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ISR and Uranium-Evidence of Higher Readings

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RFC Ambrian’s review of In Situ Recovery (ISR) uranium mines has established that this is a highly attractive asset class regardless of the uranium price. Driving valuations in the sector are the recent inauguration of three emerging ISR producers and the potential for M&A activity. ISR is a technology that has had considerable success in mining global uranium sandstone-hosted deposits: it accounted for over 45%…

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