Ok Mellhurst,
Kids are finally off to sleep so I've had a chance to do some digging into our new Non-Exec. Director, Wayne Bramwell.
This is his profile summary from Linkedin...
A Metallurgist, Mineral Economist and hands on Mining Executive with over 25 years corporate and project development experience in the international mining and metals sectors. An experienced public company director and capital markets navigator who has negotiated strategic joint ventures with large Japanese corporates and investments from export credit agencies, smelters and commodity trading houses.
And, this is his description of his time at Kasbah...
Managed Kasbah from pre-IPO to a position where the Achmmach Tin Project in the Kingdom of Morocco could seek development finance. This role involved team and capacity building, raising capital (approx. $80M) corporate strategy and governance, implementation of strategic plan, key stakeholder and JV partner management, investor relations and project development strategy. Completed 2 project level strategic investments with major Japanese corporations and multiple equity investments with the World Bank (IFC) and significant tin industry participants including commodity traders Traxys and Transamine and the second largest tin smelter, Thailand Smelting and Refining (Thaisarco).
As you say, he does seem to have his fair share of connections. A wheeler and dealer if you will, a skill set corroborated in Ardea's Announcement (29 Jan 2018)...
During his tenure he raised extensive funds from the capital markets, off-take partners and international trading houses including negotiating two project level strategic joint ventures with Japan’s Toyota Tsusho Corporation and Nittetsu Mining Co. Ltd.
Wayne’s background in metallurgy, engineering and experience in developing strategic partnerships will be extremely valuable.”
It does get a little more interesting, so bear with me.
On his Linkedin profile he is also a current Director of Sabre Ventures:
"Sabre is a nimble, boutique consultancy focussed on providing strategic, corporate and project development assistance to junior and mid-tier companies seeking to advance, diversify, develop or divest mineral assets."
"... keenly interested in minor metals and the emerging battery metal markets."
Obviously, his skills and networks will be very valuable to Ardea going forward. If we are to use Clean Teq, and more recently, Australian Mines, as our blueprint, we are going to need partners, off-take agreements, lots of capital to get this project rolling.
WHAT WE DON'T WANT IS A REPEAT OF THE KASBAH FIASCO
In 2016, it was proposed that Kasbah Reources merge with Toronto-listed Asian Mineral Resources(AMR). An Accounting firm in Perth assessed the deal and advised it was 'fair and reasonable'. The deal was accepted by shareholders, BUT after looking into AMR, some activist shareholders realised that the deal was a dud and AMR would not contribute its fair share to the merged entity. They challenged the decision and it was overturned in Federal Court.
The connection with AMR is interesting because one of its major shareholders at that time (not sure about now) is the reclusive Russian billionaire Vladimir Iorich. [Not related, but how do you actually get to become a billionaire in a Communist country? I guess it's true, 'some are more equal than others.'] When the merger fell through, Kabash sought a cash lifeline from Pala Investments, an investment vehicle for - you guessed it - the same Russian billionaire.
Pala is the investment firm founded by Vladimir. It's focus is on new energy metals and has made big plays in the Cobalt space. It's one of those players who snapped up all the Cobalt they could and stored it in anticipation of this rally.
"Pala may invest through debt and equity stakes in mining projects or buy and store physical metal to benefit from rising prices."
...and, last year, "Pala participated on two-tranche $110 million debt deal with Altura Mining Ltd., a Sydney-listed company developing a lithium mine in western Australia that’s expected to start producing the metal next year."
...from one of Pala's Partners: "What’s cobalt today may also be nickel tomorrow," Gill said
Now, the funding deal with Altura has done them no harm, the share price more than doubling since the deal with Pala was announced.
Interesting times ahead it would seem for ARL. A deal is coming IMO but will it add value? A lot of pressure on this guy to make good. And yes, he does look like a Hollywood gangster
NB: The information sourced in this post comes from news articles available on the net. The commentary is my opinion only. There is no evidence for, nor do I allege that our new Director or the Russian billionaire are acquainted or have done anything illegal, though the Kasbah deal looks bad - in my eyes - if you know what i mean.
(20min delay)