Over the past few years operating in the natural resources space has been a grind, which has seen a significantly greater effort to close transactions and win business. A consequence of these changing market conditions has been that the nature of the advisory business moved from being predominantly sell-side mandates for major miners to buy-side mandates and capital raisings in the latter part of the year.
Early in 2017 RFC Ambrian formed the view that the mining cycle had bottomed in late 2016, and that green shoots were emerging. Which led, together with a number of entrepreneurial friends and co-investors, identifying opportunities in our sector, which subsequently lead to investments in Panthera Resources, Montem Resources and Wave Swell Energy.
