There’s been plenty going on at NR Private Market, the mining industry’s investment and online communication platform.
Most notably, the platform is currently facilitating a £600,000 raise for GreenOre Gold PLC out of London.
GreenOre is looking for gold prospects in Scotland, and is run by Gavin Berkenheger, the former operations manager at the famous Curraghinalt gold deposit in Northern Ireland. The thinking is that the geological structures which have recently been revealed in Ireland, and which are sparking renewed interest in gold mining there, are also evident across the water in Scotland.
GreenOre is in partnership with Erris Resources (LON:ERIS) on its Perthshire ground, and drilling on the Ayrshire project last year hit several high grade intervals across the same hole.
The fundraising is just getting going, but from humble beginnings NR Private Market is now beginning to build a track record. The company invites sophisticated and high net worth investors to register on its online platform and thereby gain access to ongoing fundraising deals, accompanied by a suite of due diligence material. Essentially, it’s a broker with a difference - its commissions are smaller, its investors have all provided KYC and anti-money laundering certification, and it will be highly selective about who it matches up with those investors.
The company is ultimately owned by MINEXIA Ltd, which in turn is backed by some well-known names in the mining sector.
“With the improving gold price and increased M&A activity in the mining arena we are hoping for an uptick in investor appetite, which is precisely why we have positioned the platform in anticipation of this,” said Richard Lloyd, MINEXIA’s chief executive.
“We anticipate that the private and junior exploration and development sectors will continue to experience tricky conditions in the equity fundraising markets. The most notable challenges are that of being able to communicate with new pools of capital and to have one's voice heard above the cacophony of market noise. With our stated intention of selecting appropriate and vetted deals for the platform we hope that the NR Private Market issuers will stand out.”
He emphasised, however, that the MINEXIA role is designed to be complementary to existing and traditional financing routes.
“The market reaction has been positive, and we have had requests to showcase companies who are not necessarily looking to raise money at this particular time but see the value of the platform and its reach - with that in mind the "Investor Lounge" will be launched in the very near future. We hope this complementary forum will assist companies to build their market profile whilst gaining familiarity with the platform itself.”