Setting the Right Foundations to Perform High-Quality Due Diligence
Webinar, Friday, April 23, 2021, at 1pm MDT
The mining industry has a checkered history of success in due diligence study. Since such studies are impacted by significant levels of uncertainty in the resource sector due to the nature of mineral deposits and the myriad of complex factors involved in their evaluation, due‐diligence reports are typically based on opinions and judgments developed on the basis of experience and technical analysis, often generated using less than complete information. Added to the complex technical nature of the due diligence are issues driven by basic human nature. With an increasingly diverse population of buyers, investors and lenders, and markets fueling demand for growth in the industry, it is critical for the mining industry to perform high quality due diligence that can support groups to make measured and informed decisions with respect to their investment or financing.
The MMSA is looking for ways to improve the practice of due diligence study and has developed a series of foundational questions that may help to avoid some of the ‘human nature’ issues found in the conduct of due diligence, to encourage better definition of the objectives and scope of a due diligence study, and to ensure the integrity of results produced. This webinar will present these foundational questions and ‐ supported by the participation of industry leaders ‐ will encourage active dialogue with participants to develop a shared understanding of the issues, and to identify practices and behaviors that can result in the performance of high quality due diligence. This will include the opportunity for participants to contribute in breakout groups focused on specific areas of due diligence, and a collation and presentation of the findings. The webinar is planned for 90 minutes, and investors, lenders, analysts, industry executives, and technical groups and consultants are encouraged to participate.
Ross Bhappu: Partner, Resource Capital Funds. Ross joined RCF in 2001 after serving as the President of a development‐stage copper company, Director of Business Development at Newmont Mining Corporation focused on M&A activities globally and positions in various technical and financial roles at Cyprus Minerals Company. Ross manages the day‐to‐day operations of the Private Equity Strategy for mature funds (RCF IV, RCF V, RCF V Annex and RCF VI).
Ricardo Campoy: Managing Director at Capstone Headwaters in the Mining & Metals Group. Ricardo has worked as an international natural resources banker for more than 30 years, having served in executive finance positions at various firms, including as Head of Mining & Metals of WestLB AG, Member/Senior Advisor of McFarland Dewey & Co., Managing Director Mining & Metals of ING Capital and Swiss Bank Corp, respectively, and President of Elders Resources Finance Inc. Prior to his work in finance, he was employed as a mining engineer at Inspiration Copper, Dravo Corporation, and AMAX Inc.
Jon Lamb: Portfolio Manager, Orion Resource Partners. Jon specializes in debt, equity and streaming investments for base & precious metals companies globally for Orion’s mine finance funds. Prior to Orion, he was an Investment Manager for a predecessor business of Orion, and prior to that, he worked for 5 years in Deutsche Bank’s Metals & Mining Investment Banking group and has worked on a variety of debt and equity financing as well as M&A transactions for clients across the base metals, precious metals, coal and steel sectors. Jon graduated with a BA from the College of William and Mary majoring in Government and Finance.
The Mining and Metallurgical Society of America
The Mining and Metallurgical Society of America (MMSA) is a non‐profit association of mineral resource professionals whose members represent all facets of mining and metallurgical interests, both domestic and internationally. The MMSA was established in 1908 which makes this year our 113th birthday! One of its principal objectives over the years has been advancement of the mining and metallurgical industries with a focus on the responsible development of mineral resources and the protection of investors and workers.
The MMSA is not a technical society. However, its membership includes many of the industry’s best‐known engineers and executives. The Society typically concerns itself with fundamental principles and with problems facing the industry in such areas as legislation, economic and education, as well as environmental concerns, labor relations, and health and safety. Representatives of the Society from time to time testify before legislative bodies and provide advice to federal agencies.