Select African Resource

EXPERIENCE

Sierra Rutile Titanium Mine (Sierra Leone)

Acted as financial advisor on the structuring and arranging of US$64 million of project financing to restart the Sierra Rutile mine in Sierra Leone. Also arranged US$74 million of financing in support of the listing of its shares on the London Stock Exchange. Proceeds were used to construct a second dredge which doubled production. Project financing was arranged with OPIC and EU-Sysmin.

Ashanti Goldfields Company (Ghana)

Arranged the first international loan syndicate of US$253 million to finance an expansion of the Obuasi mine. Also advised Ashanti Goldfields Company, one of the world’s largest gold companies, on its proposed merger with Anglogold, the world’s largest gold company.

Youga Gold Project (Burkina Faso)

Advised Ashanti Goldfields Company and Kinross Gold Corporation on the sale of their 90% interest in the Youga Gold Project located in Burkina Faso.

Sierra Bauxite Mine (Sierra Leone)

Arranged project financing for the restart of the Sierra Bauxite mine in Sierra Leone. The mine was shut-down in 1995 due to civil unrest and was restarted in 2005.

Ashanti Note Restructuring (Ghana)

Retained by Ashanti’s creditor committee to restructure US$218.6 million of outstanding convertible notes falling due in March 2003. A successful restructuring of the notes was completed in August 2002.

Diamond Fields International (Canada)

Acted as financial advisor to Diamond Fields International in the structuring and arranging of US$15 million in project financing for the acquisition of two marine diamond mining vessels for use offshore Namibia. Financing was provided by OPIC.

International Gold Resources (Canada)

Advised International Gold Resources on the project financing of the US$85 million Bibiani gold project and the subsequent sale of the mine to Ashanti Goldfields Company for US$100 million.

Goldfields Corporation (South Africa)

Advised Goldfields Corporation, the world’s third largest gold company, in the valuation of the Tarkwa gold mine in Ghana and on its subsequent US$250 million project financing.

Barrick Gold (Canada)

Advised Barrick Gold, the world’s largest gold company, on the potential acquisition of a 50% interest in the Geita gold mine from Ashanti Goldfields Company. Ashanti subsequently sold a 50% interest in the Geita mine to Anglogold for US$325 million.

Associated Goldfields Corporation (Australia)

Advised Associated Goldfields Corporation on its project financing of the US$75 million Obotan gold project.

Edlow Resources Ltd. (USA)

Advised Edlow Resources Ltd. in their 50% joint venture with BHP-Billiton for the development of the US$500 million Moebase mineral sands project in Mozambique.

JCI Ltd. (South Africa)

Advised JCI Ltd. of South Africa in the preparation of their bid for the privatization of the Lega Dembi gold project in Ethiopia.

General Gold (Australia)

Advised General Gold on the structuring and arranging of US$200 million of project financing for the development of the Guelb Moghrein gold/copper project in Mauritania.

Kimin Gold Project (Congo)

Retained by Ashanti Goldfields Company to provide a valuation and project financing advice on the Kimin gold project in Congo.

Government of Ghana

Advised the Government of Ghana on the structuring and financing of a new corporate entity comprised of the Government’s 10% free-and-carried equity interests in all producing gold mines in the country

Bogosu Gold Mine (Ghana)

Advised BHP-Billiton on the structuring and arranging of US$120 million of project financing for development of the Bogosu gold mine in Ghana. Lenders included IFC, DEG and FMO.

Comibol (Bolivia)

Advised the Government of Bolivia on the privatization of the state owned mining corporation, Comibol.

Ghana Bauxite Mines (Ghana)

Advised the Government of Ghana on the sale of a 50% interest in the Ghana Bauxite Mining Company to British Alcan.