Designing a Project Financing Package to Withstand the Mining Business Cycle

PDAC 2023, Capital Markets Session

Toronto, Ontario

March 8, 2023

Abstract: The capital required to develop a mining project is commonly raised from several different sources of financing. Equity, debt, and alternative financing methods have different costs and benefits that a mine builder must consider when putting together a financing package able to withstand volatile future business environments. This session reviews the characteristics of different project financing methods and the perspectives of each capital provider. It asks how a financing package can be designed for the features of a specific project while recognizing the characteristics and perspectives of each source of capital so that equity up-side is preserved or enhanced while protecting against the possibility of financial distress. The ideas discussed in this session provide project owners and mine financiers with the possibility of designing a financing package that fits their needs and outlook.

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