Investors' confidence in companies summarising accurately the content of commercial agreements is misplaced
John Robertson
PortfolioDirect
Investors' confidence in companies summarising accurately the content of commercial agreements is misplaced. Black Mountain Resources announced on 24 December that it had entered an agreement with Alcyone Resources under which the latter would help fund its US silver mine developments. In its summary of the agreement, Black Mountain says: Pursuant to the facility, Alcyone will have equal first ranking security and will also have the right to appoint a director ..... Alcyone also made a statement on the same day purporting to summarise the same agreement. It said Pursuant to the facility, Alcyone will have second ranking security after existing secured creditors and will also have the right to appoint a director ..... On 17 December, Canadian (and ASX) listed Teranga Gold released the full texts of two relevant funding agreements so we can check for ourselves. Which is the superior market?
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John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business strategist and investment market professional for over 30 years after starting his career as a Commonwealth Treasury economist in Canberra. Since being Australia's top-rated commodities analyst and chief economist at one of Australia' leading stockbroking firms, he has advised companies across the mining, consumer products, IT and biotech sectors on their equity market relations. He leads the firm's investment evaluation and security structuring activities on behalf of the Australian Small Scale Offerings Board (ASSOB), the world's first equity 'crowdfunding' investment platform. John Robertson discusses the interaction of mining and investment markets in his weekly 'From the Capital' column in Mining Journal.
John Robertson
PortfolioDirect
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
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No areas of expertise
John Robertson
PortfolioDirect
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
Expertise
No areas of expertise
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