An outstanding announcement from the Botswana JV partner today, MTR.
http://www.investegate.co.uk/metal-...ott-private-wealth-lp---/20170328140300Z0601/
Sprott Private Wealth LP will act as exclusive agent for a £3m sterling private placing to North American investors, expected to be dominated by institutional investors.
Imho, the Sprott name gives the JV instant credibility to NA investors - Sprott is one of the leading, if not the premier, natural resources investor in North America. Many will have heard of Rick Rule for example, who is Sprott CEO.
Sprott are one of the best institutional investors in the business, so for the Botswana JV to have attracted their attention is an absolutely
huge validation of the T3 project.
Just doing further research on Sprott. Take this quote for example:
"Sprott Resource Corp., SRC (SCPZF), employs a disciplined approach when looking for investments. You can take this with a grain of salt but the company lists the fact that they have done due diligence on over 1,000 deals. They have only taken part in 12, for around a 1% transaction rate. This shows them to be very risk-averse. The management team obviously has a deep-value mentality. They believe in buying low and selling high; not in the momentum game of buying high and trying to sell higher. Sprott doesn’t look for companies with exploration risk. Rather, they look for resources that are mispriced, meaning they have something unique about them or are scarce. They also, like CUSH, look for management teams that are experienced and they expect their management teams to be personally invested in their companies.
When evaluating a management team, an investor can infer a lot from their history of successfully compounding capital over time, and Sprott is impressive in this regard. From September 30, 2007, to September 30, 2012, management was able to achieve a 28% internal rate of return (IRR) on invested capital, net of fees. What was impressive about this is that this was done in a down market for the Canadian resource market. Although gold and silver were up in that time frame, gold and silver stocks were not, as well as other resource plays. SRC was able to buy into depressed sectors and then monetize them when they came back. The details of this performance can be viewed on the following chart, which was found in their November 2013 Investor Presentation."
and another:
"
In my opinion, it is a similar pattern visible when Warren Buffett reports Berkshire Hathaway's acquisitions - for some time after such an announcement share prices of the purchased companies go strongly up. However, in my opinion, it is much more important what and when Mr. Sprott had bought.
He bought shares of a few mining companies operating in the so-called safe jurisdictions (Canada and Australia). What is more, he bought these companies during a bear market in gold or, who knows, in the beginning of the next leg up in gold. It means that he bought these miners at very depressed prices (for example, even taking into account the last rally in gold, Newmarket Gold is deeply undervalued against its peers). This is a lesson, which should be remembered by other precious metals investors."
