Gold loses some luster after Trump’s decisive win
Gold’s slide is a marked turnaround for a commodity that had surged by more than 30% in the year leading up to the US vote.
Mining investment advisory firm Appian Capital announced on Wednesday that due to the challenges presented by the covid-19 pandemic across the industry, the firm has expanded its investment focus and is ready to provide short-term financing – including credit facilities – to support mining companies with balance sheet pressures and liquidity concerns.
This financial support will be made in addition to the firm’s usual direct equity investment considerations.
Appian says the long-term nature of its private equity funds and the flexibility of its investment mandate allow it to provide partners within the range of $50 million to $300 million, including equity, bridge loans and other forms of credit.
Appian’s current investment portfolio consists of six mines that have gone into production, including Roxgold’s Yaramoko operation in Burkina Faso and Harte Gold’s Sugar Zone project in Ontario.
