Lexpert Special Editions

Lexpert Global Mining 2015

The Lexpert Special Editions profiles selected Lexpert-ranked lawyers whose focus is in Corporate, Infrastructure, Energy and Litigation law and relevant practices. It also includes feature articles on legal aspects of Canadian business issues.

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Page 12 of 39

WWW.LEXPERT.CA | 2015/16 | LEXPERT 13 al repertoire of silver and gold streams into new miner- als, such as chromite, diamonds and potash. And they've been coming in with money at earlier stages of mine development, though in exchange for that risk they are demanding, and getting, better streaming deals. In October 2014, Toronto-based Lundin Mining Corp. bought an 80 per cent stake in the Candelaria copper mine in Chile for US$1.8 billion. To finance the deal Lundin raised US$600 million in an equity issue; issued US$1 billion of senior secured debt and stuck a US$648-million streaming agreement with Franco-Ne- vada. It gives Franco-Nevada rights to buy 68 per cent of Candelaria's gold and silver by-product at a discount. Such deals aren't easy to nail together, says Amm. It's difficult to align the interests of parties putting up financing in different ways. For instance, a company producing copper might concentrate digging in a high- grade copper area of the mine where little silver or gold by-product is produced. at could frustrate a streamer's interests, so ways have to be found in contracts to ensure everyone's investment returns are protected. As in the wild, where a shortage of food kills off the weak, making the remaining members of a species healthier, the scarcity of mine financing should improve the future health of the industry. Belsher says the owners and executives of juniors are now willing to give up con- trol of their companies, even merge and walk away from their positions, in order to see them survive. "We're seeing that for the first time. at's a very healthy thing because the market has been over populat- ed," with too many publically listed junior mining com- panies. "So this is a healthy thing people have wanted to happen for three, four, five years. It's just starting to happen now." Clare, James Bennett Jones LLP (416) 777-6245 clarej@bennettjones.com Mr. Clare is a corporate and securities lawyer with a focus on the mining sector, and an emphasis on domestic and cross-border corporate finance and M&A. He also represents issuers and underwriters on general corporate and securities law matters. Davis, Franklin L. Bennett Jones LLP (416) 777-5099 davisf@bennettjones.com Mr. Davis is an experienced counsel who provides strategic advice in the areas of capital markets, corporate finance, mergers and acquisitions, corporate governance and mining matters. Dean, Corey M. DuMoulin Black LLP (604) 602-6808 cdean@dumoulinblack.com Mr. Dean's corporate & securities practice over the past 30 years has focused on M&A and financings mainly for resource issuers. He advises clients on disclosure, corporate governance, proxy conflict, mining, reorganization & other strategic matters. DeCosimo, Michael C. Borden Ladner Gervais LLP (416) 367-6222 mdecosimo@blg.com Mr. DeCosimo is a partner in BLG's Securities and Capital Markets Group. He practises corporate and securities law with an emphasis on corporate finance, M&A and corporate governance. Recognized as one of Lexpert®'s Leading Lawyers Under 40 in 2010. Désilets, Olivier Davies Ward Phillips & Vineberg LLP (514) 841-6561 odesilets@dwpv.com Mr. Désilets specializes in securities law with a focus on public offerings, take-over bids, plans of arrangement, private placements, corporate governance matters, as well as general securities law compliance in various industries, including mining. Devereux, Jeremy J. Norton Rose Fulbright Canada LLP (416) 216-4073 jeremy.devereux@nortonrosefulbright.com Mr. Devereux's diverse litigation practice includes the successful prosecution and defence of mining disputes at trial, in arbitration and before the Ontario Mining and Lands Commissioner, as well as a broad range of commercial litigation mandates. LEXPERT RANKED LAWYERS

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