Ann: Becoming a substantial holder, page-5

Key investment considerations for Greenstone include:-

• identifying robust projects with strong fundamentals that meet our in-house commodity macro themes;
• quality incumbent management who are passionate and focussed on their projects;
• maximising the amount of capital invested ‘in the ground’;
• having opportunities to work with incumbent management to add value to projects by leveraging Greenstone team’s decades of mining and metals experience, and the global/multi-commodity network that sits behind it;
• Greenstone’s typical investment ranges from $3 to $35 million (excluding co-investment).  In addition, Greenstone is able to leverage its own global network of capital providers and in certain circumstances may lead a consortium investing higher amounts.