European law firm Fieldfisher has advised AIM-listed gold and copper exploration company KEFI Minerals plc on successfully arranging a £4 million loan facility.
The loan from a longstanding institutional shareholder will enable KEFI to advance its Tulu Kapi Gold project in Ethiopia.
The deal, which closed on 28 November 2018, is the latest in a series of financing transactions Fieldfisher has advised on in the mining industry, as part the firm's flagship Energy and Natural Resources sector group.
Fieldfisher advised KEFI on an equity investment of up to US$38 million into the project company, Tulu Kapi Gold Mine Share Company, by ANS Mining Share Company, formed by a consortium of Ethiopian investors, which KEFI announced in September.
Fieldfisher also recently completed an earn-in deal for its AIM-listed mining client, Kalahari Metals Limited and advised TSX-V-listed Strongbow Exploration Inc. on closing a conditional "synthetic" offtake agreement with specialist mining private equity fund, Orion Mine Finance.
Commenting on the deal, Dominic Gurney-Champion, Fieldfisher corporate partner and Co-Head of Energy and Natural Resources, said:
"We were pleased to bring this deal to a positive conclusion for KEFI.
"The last year has seen several important financing deals for a number of our listed mining companies and Fieldfisher has consolidated its position as a leading legal adviser on an array of alternative financings in this sector.
"We look forward to delivering more successful outcomes for businesses across the energy and natural resources sector in the coming months as we continue to expand our presence and continue to invest in this area."
Fieldfisher is a European law firm with market leading practices in many of the world's most dynamic sectors. We are an exciting, forward-thinking organisation with a particular focus on energy & natural resources, technology, finance & financial services, life sciences and media.
Fieldfisher's dedicated mining team advises companies, metals traders, banks and investment funds on alternative financing arrangements in the mining sector, including prepay and offtake funding agreements and is one of the leading firms in this niche area of the market.
The firm recently published an updated perspective on the use of alternative financing in the mining sector, which has expanded to include crowdfunding, crypto currencies and private equity ownership models alongside traditional equity, debt and project finance.
Fieldfisher is also the fourth largest adviser to companies listed on London's AIM market, many of which are in the mining and energy sectors.
Our network has more than 1,450 people working across 24 offices providing highly commercial advice based on an in-depth understanding of our clients' needs.
We operate across our offices in Amsterdam, Barcelona, Beijing, Belfast, Birmingham, Bologna, Brussels, Düsseldorf, Frankfurt, Guangzhou, Hamburg, London, Luxembourg, Madrid, Manchester, Milan, Munich, Paris, Rome, Shanghai, Turin, Venice and Silicon Valley.
Fieldfisher is currently Law Firm of the Year - Legal Business Awards 2018.
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