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Dutchess provides ELF financings for mining and resources companies

Dutchess Capital has recently provided equity line facilities for several more mining and resources companies.

They include GBP5m for Baobab Resources, CAD10m for Nordic Oil and Gas and CAD10m for Houston Lake Mining.

Earlier this year, Dutchess provided GBP10m in ELF financing for Sunkar Resources and USD35m for AsherXino.

For 2010, Dutchess has provided a total of USD79m for mining and resources companies. 

Douglas D’Agata, Dutchess Capital research director, says: “For the past several years, aggregate global demand for natural resources has tracked the hyper growth of the world’s emerging economies. The BRIC nations, as well as countless smaller players, have demonstrated an insatiable appetite for commodities such as oil, gold, copper and ore and we see no signs of abatement in the near term.

“Given the need for a steady and reliable source of funds in such a capital intensive industry, we are excited that our ELF is seen as a viable financing option and Dutchess as the investment partner of choice for companies operating within this sector. We remain bullish on the sector and continue to seek related opportunities worldwide, including on US, Canadian, London, Australian, Hong Kong and Johannesburg stock exchanges.”

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