The Appian fund is advised by Appian Capital Advisory LLP, a London-based private equity group specializing in the acquisition and development of mining assets.
Appian’s investment will be broken down into an estimated C$75.3 million funding to advance the Pine Point project towards a final investment decision (FID) or construction approval. About C$19.8 million of that will be provided upon establishment of the joint venture.
The remaining C$24.7 million will be cash payments to Osisko Metals. Appian will first pay C$8.3 million on closing of the investment agreement to acquire an initial 9% interest in Pine Point, and then make an approximate C$16.4 million milestone payment upon a positive FID to bring its ownership to 60%. The C$100 million total investment would give the Pine Point project a pre-money valuation of C$91.3 million.
Located on the south shore of Great Slave Lake, the Pine Point project is considered to be one…
