8 LEXPERT
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2015/16
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ry since 2012. ere are 2,340 companies listed on the
TSX Venture Exchange. About 1,400 of those are junior
mining and exploration outfits. Perhaps 500 of those are
in a virtual coma — so-called zombie companies barely
able to keep on their lights or meet listing requirements.
Depressed commodity prices triggered an investor
flight from mine stocks. Last year the amount of capital
raised in the mining sector was about half what it was in
2011. Except for a handful of major and proven com-
panies such as Teck Resources or Barrick Gold, banks
and other lenders have shunned mining companies. Mix
in the summer's instability caused by Greece's problems,
along with stock meltdowns in China and a continuing
slowdown in Asian growth, and confidence in metals
and minerals has eroded even further.
at doesn't mean there aren't some deals to be done.
"ere is mining money out there for the right projects,"
insists lawyer Mike Pickersgill, who co-heads Torys
LLP's Mining and Metals Practice with colleague Mi-
chael Amm. "e challenge is it oen resides with differ-
ent types of investors. So you need to broaden your field
in order to get your project financed. Doing that may
mean you look at folks who are investors in high-yield
debt, folks who are providers of more traditional credit
facilities, folks who are equity providers, and then the
streamers and royalty companies."
It's a kind of financial sustenance keeping some min-
ing outfits going when hope was nearly gone. "What
has changed in terms of the availability of capital," says
Michael Amm, "is it has moved closer to the produc-
Amm, Michael D.
Torys LLP
(416) 865-8140
mamm@torys.com
Mr. Amm, co-head of the firm's Mining and Metals group, specializes
in M&A, corporate finance, joint ventures and streaming & royalty
transactions. He has significant international experience, including
with major China-based clients.
Archer, Marcus W.
Norton Rose Fulbright Canada LLP
(403) 267-9547
marcus.archer@nortonrosefulbright.com
Mr. Archer focuses on public and private debt and equity financings,
M&A, reorganizations, purchases and sales of businesses and assets,
and option and JV agreements, primarily for O&G and mining clients.
Arellano, Ian W.
Torys LLP
(416) 865-7997
iarellano@torys.com
Mr. Arellano specializes in M&A, joint ventures, streaming and royalty
transactions, both domestically and internationally for a wide variety
of domestic and international clients in the mining sector.
Armstrong, QC, Bradley
Lawson Lundell LLP
(604) 631-9126
barmstrong@lawsonlundell.com
Mr. Armstrong has extensive experience relating to major resource project
approvals, including regulatory processes, environmental assessments,
impact and benefits agreements, judicial review proceedings
and injunctions.
Armstrong, Robert L.
Gowling Lafleur Henderson LLP
(416) 862-3594
robert.armstrong@gowlings.com
Mr. Armstrong is an advocate. He has experience as a trial and appellate
lawyer and as a strategist and creative problem-solver in complex,
multi-party, multi-jurisdictional disputes, working closely with Canadian
and international clients and counsel.
Auch, Derrick K.
DLA Piper (Canada) LLP
(403) 698-8714
derrick.auch@dlapiper.com
Mr. Auch assists companies with public and private financing, M&A,
corporate governance and continuous disclosure in his mining and oil
& gas practice. His clients include both public and private junior
to mid-market companies on the TSX and TSXV.
"There is mining money
out there for the right
projects. The challenge
is it often resides
with different types of
investors. So you need
to broaden your field in
order to get your project
financed. Doing that
may mean you look at
folks who are investors
in high-yield debt, folks
who are providers of
more traditional credit
facilities, folks who
are equity providers,
and then the streamers
and royalty companies."
- Michael Amm, Torys LLP
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