Attracting Funds to Develop the Diamond Potential of Southern Africa
JAHCampbell
24 Aug 2023
Presentation to the Kimberely International Diamond Conference.
Case Study on AK6 Karowe Mine. Discovery through to Production: Learning the ...James AH Campbell
Case Study on AK6 Karowe Mine. Discovery through to Production: Learning the Lessons of History. Botswana Diamond Explorers Conference 25-26 April 2017 Orapa Mine.
The Future of Botswana's Diamond Resources
James AH Campbell
Botswana Resources Infrastructure and Energy Forum ('BRIEF')
Gaborone, Botswana
16-17 May 2022
Case Study on AK6 Karowe Mine. Discovery through to Production: Learning the ...James AH Campbell
Case Study on AK6 Karowe Mine. Discovery through to Production: Learning the Lessons of History. Botswana Diamond Explorers Conference 25-26 April 2017 Orapa Mine.
The Future of Botswana's Diamond Resources
James AH Campbell
Botswana Resources Infrastructure and Energy Forum ('BRIEF')
Gaborone, Botswana
16-17 May 2022
Diamond exploration, mining, financing and driving entrepreneurial behaviour.James AH Campbell
A presentation entitled:
"Diamond exploration, mining, financing and driving entrepreneurial behaviour".
to the Antwerp World Diamond Council and Gordon Institute of Business ('GIBS') global seminar entitled "From Mine to Finger. A deep dive into the world of diamonds". 7 February 2024 at GIBS.
Most of the participants are either entrepreneurs in the diamond downstream space or academics from both institutions.
Executing value creation plans to maximize returnsEY
This slide deck was designed to accompany a video webcast that included an interactive discussion by a moderator and three panelists. To view that webcast, please go to: http://bit.ly/Xj4EIA
Executing value creation plans to maximize returns
Hosted by Ernst & Young LLP Transaction Advisory Services
Publication date: Tuesday, 2 April 2013
Leading private equity firms are maximizing investment returns by developing value creation insights before making a purchase, and executing a value creation plan from the beginning of the holding period through to exit.
Companies that faithfully execute their value creation plans throughout the investment lifecycle can enhance returns and outperform their peer group when they sell.
A panel of Ernst & Young LLP professionals and special guests discussed:
Value creation drivers
Possible steps for maximizing returns at exit
You are welcome to join the on-demand version of this interactive discussion by going to: http://bit.ly/Xj4EIA
This webcast is part an ongoing series. Register for any webcast and you will be asked if you want to receive invitations to future webcasts.
Prospecting for Solutions: Challenges facing the South African Mining IndustryJames AH Campbell
Prospecting for Solutions: Challenges facing the South African Mining Industry
James Campbell
Presentation to Drexel University MBA group in Johannesburg on 11 May 2023.
UPDATE ON THE NICKELIFEROUS LATERITE MINERAL RESOURCES
OF MARCVENTURES MINING AND DEVELOPMENT CORPORATION’S
MPSA 016-93-XIII
LOCATED IN THE MUNICIPALITIES OF CANTILAN AND CARRASCAL,
SURIGAO DEL SUR, PHILIPPINES
The role of Geoscientists in a Junior Exploration CompanyJames AH Campbell
The role of Geoscientists in a Junior Exploration Company.
Presentation to the Geoskills Webinar 7 July – 11 August 2020, part of the Foundations for a Geological Career series.
Compiled and presented by James Campbell on 14 July 2020.
Rowan Karstel explains the coal logistics challenges that are present in Mozambique during the 2nd Annual Coal Transportation Africa Summit in Johannesburg, South Africa.
Investors Book is the first overview that has gathered Ukrainian investment market players displaying their current activity, spheres of interest, portfolio. According to the book, there are 33 active funds operating in Ukraine, 5 of those are incubators and accelerators, 1 corporate fund, 19 venture capital funds, 8 private equity funds.
Vol. 2 updated in July 2017.
The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (‘the JORC Code’) is a professional code of practice that sets minimum standards for Public Reporting of minerals Exploration Results, Mineral Resources and Ore Reserves.
ESG Meets FinTech – A Strategic Analysis Executive SummaryMEDICI Inner Circle
MEDICI’s new ‘ESG Meets FinTech – A Strategic Analysis’ covers the impact of financial technology on Environmental, Social, and Governance (ESG) criteria. It analyzes the various dimensions of ESG and sustainability in the context of FinTech.
Deal sourcing is the first step towards an investment process in Venture Capital. Pratim Pathak from pi Ventures walks through the learnings developed on how to source effectively and strategically as a part of the pi fellows program.
Private Equity Investor Value CreationLLR Partners
LLR's Justin Reger presented at the 2013 Southeast Venture Conference, held March 13 - 14 in Charlotte, NC.
Justin presented on how to get the most out of partnering with an investor. Beyond securing capital to help grow a business, partnering with an investor can bring with it the strategic guidance, corporate development support, access to talent networks and other resources needed to help business owners achieve their goals. Learn how to get the most long-term value out of a partnership with your investor.
Hostile Takeover Strategies with Analysis of Case StudiesPavan Kumar Vijay
Hostile Takeover, acquisition of a business by making unsolicited bids and giving attractive offers to the stakeholders to amass the controlling share and then bid to take control of the business and the management. The acquirer attempts to acquire a business by convincing small shareholders and financial institution of bright future prospects and also give them much larger premium for their shares. This is done to get an upper hand in that specific segment of Industry as well as market by acquiring an established business with proven track records.
How much negative this kind of takeover may look, there are many positive outcomes too. A bid of hostile takeover compels the management to work efficiently, true value of a business comes to fore, shareholders get an opportunity to sell their stake at a good premium etc.
Raising Exploration Capital in Southern Africa: A Diamonds PerspectiveJames AH Campbell
Raising Exploration Capital in Southern Africa: A Diamonds Perspective. Presentation to Diamond Day at PDAC 2020 themed 'The business of diamonds from rock to ring'. Presentation by James AH Campbell, Managing Director of Botswana Diamonds plc.
Diamond exploration, mining, financing and driving entrepreneurial behaviour.James AH Campbell
A presentation entitled:
"Diamond exploration, mining, financing and driving entrepreneurial behaviour".
to the Antwerp World Diamond Council and Gordon Institute of Business ('GIBS') global seminar entitled "From Mine to Finger. A deep dive into the world of diamonds". 7 February 2024 at GIBS.
Most of the participants are either entrepreneurs in the diamond downstream space or academics from both institutions.
Executing value creation plans to maximize returnsEY
This slide deck was designed to accompany a video webcast that included an interactive discussion by a moderator and three panelists. To view that webcast, please go to: http://bit.ly/Xj4EIA
Executing value creation plans to maximize returns
Hosted by Ernst & Young LLP Transaction Advisory Services
Publication date: Tuesday, 2 April 2013
Leading private equity firms are maximizing investment returns by developing value creation insights before making a purchase, and executing a value creation plan from the beginning of the holding period through to exit.
Companies that faithfully execute their value creation plans throughout the investment lifecycle can enhance returns and outperform their peer group when they sell.
A panel of Ernst & Young LLP professionals and special guests discussed:
Value creation drivers
Possible steps for maximizing returns at exit
You are welcome to join the on-demand version of this interactive discussion by going to: http://bit.ly/Xj4EIA
This webcast is part an ongoing series. Register for any webcast and you will be asked if you want to receive invitations to future webcasts.
Prospecting for Solutions: Challenges facing the South African Mining IndustryJames AH Campbell
Prospecting for Solutions: Challenges facing the South African Mining Industry
James Campbell
Presentation to Drexel University MBA group in Johannesburg on 11 May 2023.
UPDATE ON THE NICKELIFEROUS LATERITE MINERAL RESOURCES
OF MARCVENTURES MINING AND DEVELOPMENT CORPORATION’S
MPSA 016-93-XIII
LOCATED IN THE MUNICIPALITIES OF CANTILAN AND CARRASCAL,
SURIGAO DEL SUR, PHILIPPINES
The role of Geoscientists in a Junior Exploration CompanyJames AH Campbell
The role of Geoscientists in a Junior Exploration Company.
Presentation to the Geoskills Webinar 7 July – 11 August 2020, part of the Foundations for a Geological Career series.
Compiled and presented by James Campbell on 14 July 2020.
Rowan Karstel explains the coal logistics challenges that are present in Mozambique during the 2nd Annual Coal Transportation Africa Summit in Johannesburg, South Africa.
Investors Book is the first overview that has gathered Ukrainian investment market players displaying their current activity, spheres of interest, portfolio. According to the book, there are 33 active funds operating in Ukraine, 5 of those are incubators and accelerators, 1 corporate fund, 19 venture capital funds, 8 private equity funds.
Vol. 2 updated in July 2017.
The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (‘the JORC Code’) is a professional code of practice that sets minimum standards for Public Reporting of minerals Exploration Results, Mineral Resources and Ore Reserves.
ESG Meets FinTech – A Strategic Analysis Executive SummaryMEDICI Inner Circle
MEDICI’s new ‘ESG Meets FinTech – A Strategic Analysis’ covers the impact of financial technology on Environmental, Social, and Governance (ESG) criteria. It analyzes the various dimensions of ESG and sustainability in the context of FinTech.
Deal sourcing is the first step towards an investment process in Venture Capital. Pratim Pathak from pi Ventures walks through the learnings developed on how to source effectively and strategically as a part of the pi fellows program.
Private Equity Investor Value CreationLLR Partners
LLR's Justin Reger presented at the 2013 Southeast Venture Conference, held March 13 - 14 in Charlotte, NC.
Justin presented on how to get the most out of partnering with an investor. Beyond securing capital to help grow a business, partnering with an investor can bring with it the strategic guidance, corporate development support, access to talent networks and other resources needed to help business owners achieve their goals. Learn how to get the most long-term value out of a partnership with your investor.
Hostile Takeover Strategies with Analysis of Case StudiesPavan Kumar Vijay
Hostile Takeover, acquisition of a business by making unsolicited bids and giving attractive offers to the stakeholders to amass the controlling share and then bid to take control of the business and the management. The acquirer attempts to acquire a business by convincing small shareholders and financial institution of bright future prospects and also give them much larger premium for their shares. This is done to get an upper hand in that specific segment of Industry as well as market by acquiring an established business with proven track records.
How much negative this kind of takeover may look, there are many positive outcomes too. A bid of hostile takeover compels the management to work efficiently, true value of a business comes to fore, shareholders get an opportunity to sell their stake at a good premium etc.
Raising Exploration Capital in Southern Africa: A Diamonds PerspectiveJames AH Campbell
Raising Exploration Capital in Southern Africa: A Diamonds Perspective. Presentation to Diamond Day at PDAC 2020 themed 'The business of diamonds from rock to ring'. Presentation by James AH Campbell, Managing Director of Botswana Diamonds plc.
Raising Exploration Capital in Southern Africa: A Diamonds PerspectiveJames AH Campbell
Raising Exploration Capital in Southern Africa: A Diamonds Perspective by James AH Campbell. Presentation to the Mining Investment Botswana Conference 21-22 May 2019 in Gaborone.
Corex Gold Corporate Presentation October 2017 MomentumPR
Corex Gold (CGE:TSXV) is a Canadian-based resource exploration and development company targeting near-term gold production of its Santana Property, Sonora, Mexico. The Company is traded on the Toronto Venture Exchange under the symbol: CGE.
Corex Gold Corp has established itself as one of the premier exploration companies in Mexico. The Company consists of a highly qualified technical team with extensive Mexico-based exploration experience including previous gold discoveries and expertise in geology, financing and public company management.
We are in the business of creating shareholder wealth through the discovery of new gold deposits with a 100% focus on Mexico. As an emerging mineral exploration company, investors have the opportunity to participate in a high quality exploration project and in turn the potential to take part in a major gold discovery.
Development Stage Gold Companies Value Proposition TimelineCapstone Headwaters
The following presentation was given by Joel Schneyer, Managing Director at Headwaters MB at the American Exploration & Mining Association's 120th Annual Conference in Reno, NV.
Corporate Governance for South African Mining Companies (a practitioner's view)James AH Campbell
Corporate Governance for South African Mining Companies (a practitioner's view).
Compliance & Reporting in the Minerals Industry
15th September 2023
University of the Witwatersrand
(MINN7052A)
Is there any overlap between Corporate Governance & Public Reporting?James AH Campbell
Is there any overlap between Corporate Governance & Public Reporting?
Presentation to the Geological Society of South Africa.
10th October 2022, Johannesburg.
Prospecting for Solutions: Challenges facing the South African Mining IndustryJames AH Campbell
Prospecting for Solutions: Challenges facing the South African Mining Industry.
Society of Economic Geologists, SA Chapter.
6th October 2022, University of the Witwatersrand.
Corporate Governance for South African Mining Companies (a practitioner's view)James AH Campbell
Corporate Governance for South African Mining Companies (a practitioner's view).
Compliance & Reporting in the Minerals Industry
27th September 2022,
University of the Witwatersrand
Volcanoes Presentation with material chiefly drawn from the Geological Society of the UK.
Presented to Reddam House Waterfall learners on 14 March 2022
Technological approaches to diamond exploration on the Thorny River prospect,...James AH Campbell
Technological approaches to diamond exploration on the Thorny River prospect, South Africa.
Presentation to the Geological Society of South Africa's African Exploration & Technology Showcase.
Johannesburg (virtual) edition.
12 November 2021.
Corporate Governance for South African Mining Companies (a practitioners view)James AH Campbell
Corporate Governance for South African Mining Companies (a practitioners view)
Compliance & Reporting in the Minerals Industry
19th October 2021
University of the Witwatersrand
James Campbell
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Buy Verified PayPal Account | Buy Google 5 Star Reviewsusawebmarket
Buy Verified PayPal Account
Looking to buy verified PayPal accounts? Discover 7 expert tips for safely purchasing a verified PayPal account in 2024. Ensure security and reliability for your transactions.
PayPal Services Features-
🟢 Email Access
🟢 Bank Added
🟢 Card Verified
🟢 Full SSN Provided
🟢 Phone Number Access
🟢 Driving License Copy
🟢 Fasted Delivery
Client Satisfaction is Our First priority. Our services is very appropriate to buy. We assume that the first-rate way to purchase our offerings is to order on the website. If you have any worry in our cooperation usually You can order us on Skype or Telegram.
24/7 Hours Reply/Please Contact
usawebmarketEmail: support@usawebmarket.com
Skype: usawebmarket
Telegram: @usawebmarket
WhatsApp: +1(218) 203-5951
USA WEB MARKET is the Best Verified PayPal, Payoneer, Cash App, Skrill, Neteller, Stripe Account and SEO, SMM Service provider.100%Satisfection granted.100% replacement Granted.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Taurus Zodiac Sign_ Personality Traits and Sign Dates.pptxmy Pandit
Explore the world of the Taurus zodiac sign. Learn about their stability, determination, and appreciation for beauty. Discover how Taureans' grounded nature and hardworking mindset define their unique personality.
5. Kimberley 2023
Diamonds are not a commodity
⧫ Symbolising lasting values
⧫ Beyond engagements and weddings
⧫ Celebrations, special occasions
⧫ Long-term store of value in volatile times
⧫ Authenticity, traceability, sustainability
⧫ Appealing to millennials
⧫ High and Ultra-High Net Worth Individuals
⧫ Larger and coloured natural diamonds in demand
5
“Life is fleeting and, therefore, you want to make sure that the
people you love know that you love them. And what better way
to say that than with a diamond.”
6. Kimberley 2023
Luxury market has built resilience
6
⧫ Severe contraction in 2020
due to Covid-19 pandemic
⧫ Clawback to €1.15 trillion in
2021
⧫ Surprising further growth of
19%–21%, in 2022
⧫ Impressive growth in
personal luxury goods
⧫ Luxury market better
equipped to cope with
economic turbulence
⧫ Positive prospects for
personal luxury goods
growth to 2030
Source: Bain and co., 2022
7. Kimberley 2023
Long-term supply and demand outlook is stable
⧫ Rough diamond supply
rebound in 2021
⧫ Production 120+ million
carats in 2022
⧫ Still below pandemic
levels
⧫ Production growth at
1%-2% pa over next 5
years
⧫ Supply-demand gap
drives rough price
growth
⧫ New supply depends on
exploration success
7
Source: Bain and co., 2019
9. 9
Cycles in global exploration spend
⧫ Mining companies
need to develop
options for growth
⧫ Exploration is the only
pathway to organic
growth
⧫ Incipient growth cycle
interrupted by COVID-
19 pandemic
⧫ New growth impetus in
2022, continuing into
2023
Sources: S&P Global; Reuters
Kimberley 2023
10. 10
Global exploration budgets on the rebound
⧫ Budgets down 10% in
2020 due to COVID-19
⧫ 34% rebound in 2021
⧫ 16% rise in 2022
⧫ Gold is most targeted
commodity (53% share)
⧫ Lithium, nickel show
highest % increases on
the back of energy
transition efforts
⧫ Africa exploration
underperformed the
global average for the
second consecutive
year with only 11.6%
Source: S&P Global, 2022
Kimberley 2023
11. 11
Grassroot exploration still out of favour
⧫ The shift away from grassroots exploration towards existing deposits continues
despite poor discovery rate and concerns around long-term supply
⧫ In the late 1990s, grassroots exploration accounted for almost 50% of annual
global exploration budgets. It has recovered since 2020 but remains low
⧫ Finding new, economical deposits that can meet global demand requires
Increased generative spending
Source: S&P Global, 2022
Kimberley 2023
Minesite
Late Stage & Feasibility
Grassroots (Early Stage)
US$ Bn
12. 12
Junior exploration budgets gain ground globally
⧫ In 2022 junior exploration budgets were up 36%
⧫ Juniors’ budgets almost on par with majors’ budgets
⧫ Juniors’ allocation to later stages of exploration has increased over the past decade
⧫ Decreased access to finance to maintain junior programmes expected in 2023
Source: S&P Global, 2022
Kimberley 2023
13. Kimberley 2023 13
Government incentives to exploration
Canada (1,600 juniors) Australia (600 juniors) South Africa (12 juniors)
The Flow-Through Share (‘FTS’) regime is
a tax-based financing incentive
whereby a company agrees to incur
eligible exploration and development
expenses which are “renounced” to the
shareholders who claim an income tax
deduction. It was introduced in 1958.
The Junior Mineral Exploration Incentive
(‘JMEI’) allows eligible companies to
give up a portion of their losses from
greenfields exploration expenditure to
generate tax credits in favour of
Australian resident shareholders who
buy newly issued shares.
Target to attract 5%of global
exploration dollars. How?
JSE’s Junior Mining Accelerator
Programme codirected by Mincosa
Lacking the well-established, well-
entrenched venture capital mindsets of
Canada and Australia.
⧫ FTS has enabled juniors to raise equity
at a premium to their share price,
attracting capital to the riskiest stage
of the mining/exploration cycle
⧫ The FTS regime turned Canadian
capital markets into the destination of
choice for mining companies
⧫ FTS financings play a counter-cyclical
role during exploration downturns
⧫ Explorers have limited time to apply,
raise capital and spend the money,
for investors to be eligible for capped
exploration credits
⧫ Additional incentives exist, e.g.
Exploration Incentive Scheme (‘EIS’) in
Western Australia and Accelerated
Discovery Fund (‘ADF’) in South
Australia
⧫ Section 12J, modelled on the UK
Venture Capital Trust regime to boost
exploration funding in South Africa,
was abolished in February 2021,
having failed to deliver the
anticipated benefits to exploration.
⧫ Flow-through share model first
mooted 10 years ago; presented to
National Treasury in 2020; now being
re-considered
Sources: PwC 2015; PDAC 2015, 2019; Engineering News; Mining weekly; Mincosa;
Mining review; Australia Investing News; Australian Mining; Lexology
14. Kimberley 2023
Onerous regulatory and ESG compliance
14
⧫ Relevance and transparency of regulatory reporting is critical to
attracting junior funding, yet onerous
⧫ Investors increasingly value a company’s ability to manage
environmental, social and governance (ESG) factors
⧫ Carbon neutrality is high on ESG agenda.
⧫ ESG factors even more prominent since the start of the war in Ukraine
(ethically sourced diamonds/traceability)
⧫ Mineral reporting requirements vary across jurisdictions
⧫ Reporting frequency is quarterly on TSX, six-monthly on AIM and ASX
⧫ Minimum standards for public reporting by Competent Persons
(‘CPs’) are set by professional Codes of Practice
⧫ Most standards share common codes and guidelines, e.g. CIM,
JORC, SAMREC
Sources: PWC, Stock Exchanges, Mining Journal, Mining Association of Canada
16. Kimberley 2023
Project development: investing in risk reduction
16
Core drilling or
trenching
(100’s kg)
Initial bulk
sampling
(10-100’s t)
Infill drilling; bulk
sampling
(1000’s t)
Inferred
Resource
Indicated
Resource
Diamond potential;
surface size estimate
Preliminary grade
estimate; prelim.
geological model
Global grade;
preliminary value
estimate
Geological, density,
volume, grade,
revenue models
Technical
Economic
Evaluation
Pre-Feasibility
Study
Bankable
Feasibility Study
Mineralisation
Target /
Anomaly
Activity
Outcomes
Mineral
Resource
Economic
Studies
Duration: months
Cost: USD 1,000’s
Duration: years
Cost: USD 1,000,000’s
INCREASING COSTS and TIMEFRAMES
DECREASING UNCERTAINTY and RISK
⧫ Investors’ appetite grows with
confidence, as do costs and time
frames
⧫ Compressing timeframes without
compromising on quality
⧫ Maximising optionality: phased
approach
⧫ Reliable resource models
⧫ Deep expertise and technology
are key differentiators
⧫ Extract value or cut losses early
Mapping,
sampling,
geophysics
17. Value extraction and funding
17
Source: Wesizwe, Global Diamond Network
TRADITIONAL SOURCES OF FUNDING
⧫ Different types of
investor for different
project stages
⧫ Early stage typically
friends and family
⧫ Some private and
public equity funds
focus on resources
⧫ Debt financing is
only accessible post
Bankable Feasibility
Study
Kimberley 2023
18. Kimberley 2023
Share price growth from
one African Diamonds
share on listing (2005):
25x at Lucara Diamond
peak share price
18
⧫ Early investors who recognised the potential and took the risk were able to extract substantial
value from African Diamonds plc’s share price growth
⧫ Would AK6 be Karowe Mine today, were it not for the founding ‘Friends, Family and Fools’?
AK6/Karowe: a story of realised potential
Source: The AK6 kimberlite- Discovery through to production, learning the
lessons of history, Campbell and Jooste, University of Botswana
20. Kimberley 2023
Traditional sources of funding
20
Chart modified after PwC, 2013
⧫ Public equity was once the chief source of
funding for mining deals
⧫ Many of today’s majors were established
through capital market funding
⧫ Poor confidence in exploration and
competition from new investment
categories have changed the landscape
⧫ Capital markets are not “junior-friendly”
⧫ Private equity funds have less onerous
requirements, but money is more expensive
⧫ Debt financing only becomes accessible at
advanced development or mining stage
⧫ Junior and mid-tier operators need investors
with risk appetite and flexible processes
21. Kimberley 2023 21
Exploration capital markets key facts
TSX / TSXV ASX LSE / AIM BSE / JSE
⧫ 1,157 mining companies;
32 diamond companies
⧫ CAD 7,7 billion mining
capital raised in 2022
⧫ 1,121 mining financings
⧫ CAD 521 billion mining
market cap
⧫ Notable diamond stocks:
Lucara Diamond,
Mountain Province, Star,
Diamcor, Tsodilo,
Pangolin
⧫ 901 mining companies
listed
⧫ MT50 (mid-tier) had
AUD 150 billion market
cap as of September
2022
⧫ Ability to attract capital
from the Far East
⧫ Notable diamond
stocks: Lucapa
Diamond, Newfield
Resources, Burgundy
Diamond Mines
⧫ 369 mining companies
listed
⧫ GBP 700 billion combined
market cap
⧫ British banks and finance
houses known to
understand the African
jurisdictions.
⧫ Notable diamond stocks:
Petra, Gem Diamonds,
Botswana Diamonds
⧫ Anglo, Lucara Diamond
and Botswana Diamonds
have secondary listing on
BSE
⧫ No diamond listings on
JSE
⧫ Negligible exploration
capital raised
⧫ Exploration funded from
offshore
Sources: TSX; LSE; JSE; PwC; PDAC; Mining weekly
22. Kimberley 2023 22
Capital market funding
2019
Source: Stock Exchanges; Listcorp; Mincosa; The Assay
⧫ Total listings on the JSE have
been declining over the last
two decades
⧫ The rate of contraction has
more than doubled since
2000
⧫ There are only 35 actively
trading mining companies on
JSE
⧫ Dearth of exploration/mining
listings attributed to lack of
effective, transparent
cadastral system and
absence of fiscal incentives to
investment in exploration
“Mining companies raising through public
markets are also competing for capital
with thousands of companies across
dozens of industry sectors as well as their
own huge sector” (Minexia CEO)
23. 23
A declining junior diamond mining sector in SA
Sources: AEON, Mincosa
Kimberley 2023
⧫ Previously successful,
diamond juniors have
experienced a steady
decline since the MPRDA
was implemented in 2004
⧫ The number of diamond
juniors has dwindled to
10% of the pre-2004 levels
⧫ The ratio of
employees/companies
has declined from 8% to
4%
⧫ Many juniors forced to cut
staff after COVID 19
24. Kimberley 2023 24
⧫ Royalty and stream arrangements are seldom
negotiated at early-stage exploration
⧫ Crowdfunding has gained limited traction in mining
⧫ Crypto financing is active in Canada and Australia,
albeit at small volumes
⧫ Attracting a broader investor base to the minerals
sector
⧫ Regulation of crypto financing has increased
following the "ICO bubble burst” in early 2018
⧫ Tokens based on intrinsic value of asset, issued via
blockchain technology
⧫ Vetting by an exchange and compliance with
securities framework provide comfort to investors
Alternative sources of funding
Production-
based
financing
Online
financing
Royalties
(incl. NPI, NSR)
Streams
Crowdfunding
Crypto / Digital
Token Offerings
Sources: PwC; McKinsey; White & Case
25. Kimberley 2023 25
The important role of mining incubators
Common traits
⧫ Entrepreneurial, skilled, risk takers
⧫ Able to recognise and develop potential
⧫ Flexibility to advance a portfolio of projects
⧫ Fewer constraints than junior explorers
Different guises
⧫ Expert funders, e.g. HDI, 162 Group, Lundin
Group
⧫ Project generators, e.g. Altus, Greenfields
Exploration
⧫ Project incubators, e.g. EHR Resources
⧫ Project marketplaces, e.g. PCF’s Minesonline
⧫ Startup crowdfunding portals, e.g. Vested
Technology
Source: Greenfields Exploration
27. A highly prospective diamond region
27
Sources: Bain and co., 2022; De Wit et al June 2016
⧫ Archean cratons hosting significant diamond deposits
⧫ Solid track record of economic diamond production
⧫ 40% of global carat production in 2021
⧫ Limited competition
Kimberley 2023
28. Perceived risk: a deterrent to investors
28
Source: Fraser Survey, 2023
South Africa ranks among the 10 least attractive investment jurisdictions globally, both from an
investment attractiveness and a policy perception perspective. Botswana is in the top 10 of both
Kimberley 2023
[…] […]
44.76
29.65
97.79
82,75
29. Economic competitiveness analysis: fiscal regimes
A hypothetical primary ‘junior’ diamond resource was tested against five Southern African
diamond mining fiscal regimes: South Africa, Botswana (Kalahari and non-Kalahari),
Zimbabwe, eSwatini (Swaziland) and Lesotho
29
(12 000)
(10 000)
(8 000)
(6 000)
(4 000)
(2 000)
0
SA Bots Bots Kalahari Zim Swaziland Lesotho
NPV
18.8%
4.5%
-11.2%
5.51%
7.68%
5.29%
NPV and IRR
⧫ SA ranked best of the five in terms of
IRR (and NPV), mainly due to lower
royalties
⧫ A Canadian scenario could not be
included, due to the high local
$/tonne operating costs
⧫ For reference: Karowe’s opex is
$31/tonne (Botswana), compared to
Gahcho Kue’s $101/tonne
(Canada)
Source: author’s own research, Lucara Diamond website, Mountain Province website
Kimberley 2023
30. Kimberley 2023
Limited competition, limited (local) funding
30
⧫ Predominantly foreign-listed juniors:
⧫ Botswana Diamonds (AIM), Gem Diamonds
(LSE), Pangolin Diamonds (TSX-V), Newfield
Resources (ASX) & Lucapa Diamonds (ASX)
⧫ BlueRock Diamonds (shares suspended)
⧫ Primarily funded through foreign equity
capital
⧫ Limited production cashflow to fund
exploration activities
⧫ Subject to full extent of onerous regulatory
and reporting obligations
⧫ No evidence of exploration activities gaining
momentum
Source: company websites, Yahoo, Mincosa, Paul Zimnisky
The only significant projects in the local
pipeline are Luaxe in Angola and Meya
and Tongo in Sierra Leone, which are set to
add a combined 5,5 Mcts.
32. Kimberley 2023
Conclusion
32
Diamond supply-demand gap continues to widen despite a structural change in
diamond pricing
⧫ Southern Africa remains a highly attractive investment destination due to relatively low
competition, high diamond prospectivity and low unit operating costs, notwithstanding a
higher political risk envelope
Future diamond supply depends on exploration: what is required to stimulate
exploration spend?
⧫ Security of tenure and political stability are critical to attracting a greater share of global
exploration spend
⧫ A transparent mineral cadastral system must be implemented and application processes
accelerated
⧫ Local incentivisation is key. The Canadian market is a stand-out example here with Australia
not far behind
⧫ Emergence of new business incubator models to drive particularly early-stage exploration
⧫ Dual role of ‘break through’ technology; supporting exploration and enabling access to
funding
⧫ Building trust with prospective investors by simplifying the value proposition and debunking
misconceptions
Exploration drilling Ontevreden
34. About the Author
◆ James Campbell is Managing Director of Botswana Diamonds plc (a diamond development company
active in Botswana, South Africa and Zimbabwe and listed on London AIM and the Botswana Stock
Exchange). He has spent over thirty-five years in the diamond industry in a variety of leadership roles both
in major and junior companies.
◆ Previous roles include Non-Executive Director of Shefa Gems (where he is still Technical Advisor); Chief
Executive Officer and President of Rockwell Diamonds Inc; Non-Executive Director of Stellar Diamonds plc;
Vice President - New Business for Lucara Diamond Corp, Managing Director of African Diamonds plc;
Executive Deputy Chairman of West African Diamonds plc and Director of Swala Resources plc and
Bugeco sa.
◆ James also worked at De Beers for over twenty years; his roles included General Manager for Advanced
Exploration and Resource Delivery and the Executive Chairman Nicky Oppenheimer’s first Personal
Assistant.
◆ James holds degrees in Mining and Exploration Geology from the Royal School of Mines (Imperial College,
London University) and an MBA with distinction (and top student prize) from Durham University. He is a
Fellow of the Geological Society of South Africa, Institute of Mining, Metallurgy and Materials, South
African Institute of Mining and Metallurgy and Institute of Directors of South Africa. He is also a Chartered
Engineer (UK), Chartered Scientist (UK) and a Professional Natural Scientist (RSA).
◆ James is also chairman and founding director of Common Purpose South Africa NPC (a not-for-profit
organization that develops leaders who cross boundaries and is synonymous with the terms ‘cultural
intelligence’ and ‘leadership beyond authority’). CPSA celebrated its twentieth anniversary in 2020. He
was also a director, trustee and chairman of the Joburg Ballet for almost fifteen years.
34
https://twitter.com/JAHC1
https://www.linkedin.com/in/jamesahcampbell/
https://www.slideshare.net/JamesAHCampbell1
https://www.youtube.com/JamesCampbell_JAC
Photo: PDAC March 2020
Kimberley 2023