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Keith Neumeyer - First Mining Finance
Published 11 years ago
Description
Keith Neumeyer discusses the IPO of his new company, First Mining Finance (FF).
First Mining Finance has been designed to take advantage of the depressed markets for mining assets. Many see current valuations as the cheapest they have been in 20 years, on a relative basis perhaps even the cheapest ever. FF’s aim is to tap into its large knowledge base and use it to accumulate as many quality mining assets as possible (Americas only) - assets which don’t require higher metals prices to be viable - while they are cheap. Eventually, the plan is to have a large bank of them. When (if) the mining cycle turns favourable again, it is hoped the ‘mineral bank’ will have appreciated considerably in price. FF will then look to generate revenue either from re-sales, JVs, royalties or streaming structures.
The man behind the deal is Keith Neumeyer. For those of you that don’t know Keith, he built First Majestic Silver (TSX:FR) and took it from penny stock status to $25 a share (in the heady days of 2010-11) with a C$3 billion plus market cap. It is now one of North America’s leading silver producers and even in today’s beaten up silver market it remains profitable with a market cap of around C$900m and a share price of $7.50-$8. Keith was previously behind First Quantum Minerals (TSX:FM), which followed a similarly enormous trajectory to become one of the world’s biggest copper producers. His record in mining is pretty much second to none. It is better than even mine.
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