{"id":17477,"date":"2023-04-06T14:07:00","date_gmt":"2023-04-06T14:07:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4062642_AE62642_0"},"modified":"2023-04-06T14:07:00","modified_gmt":"2023-04-06T14:07:00","slug":"appian-forms-jv-with-osisko-metals-to-develop-the-pine-point-zinc-project","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=17477","title":{"rendered":"Appian forms JV with Osisko Metals to develop the Pine Point zinc project"},"content":{"rendered":"<table name=\"logo_release\" border=\"0\" cellspacing=\"10\" cellpadding=\"5\" align=\"right\">\n<tbody>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/1720474\/Appian_Logo.jpg?p=medium600\" border=\"0\" alt title=\"logo\" hspace=\"0\" vspace=\"0\" width=\"118\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>Highlights<\/b><\/p>\n<ul type=\"disc\">\n<li><b>Closing and formation of a joint venture with TSX-V listed Osisko Metals to develop the Pine Point zinc-lead project in <span class=\"xn-location\">Northwest Territories, Canada<\/span>, as part of which:<\/b><\/li>\n<ul type=\"disc\">\n<li>Appian has purchased share capital of Pine Point Mining Limited (PPML), which holds the Pine Point Project, from Osisko Metals in exchange for a payment in the amount of <span class=\"xn-money\">C$8.3m<\/span>;<\/li>\n<li>Appian has subscribed for share capital of PPML in exchange for funding <span class=\"xn-money\">C$13.1m<\/span> into PPML;<\/li>\n<li>Appian has provided an interim loan to Osisko Metals in the amount of <span class=\"xn-money\">C$6.7m<\/span> that has been converted into share capital in PPML; and<\/li>\n<li>Appian has purchased shares of Osisko Metals at a price of <span class=\"xn-money\">$0.2481<\/span> per share for <span class=\"xn-money\">C$5m<\/span>.<\/li>\n<\/ul>\n<li><b>Pine Point is strongly aligned with Appian&#8217;s investment strategy, expected to produce clean zinc and lead concentrates, benefitting from its strategic location in a tier-1 jurisdiction and access to international concentrate markets through existing high-quality infrastructure, including railway access<\/b><\/li>\n<li><b>Brownfield exploration package with over 1 million meters of historical drilling providing significant resource development upside and the ability to leverage returns through mine life extensions<\/b><\/li>\n<li><b>Transaction provides Appian active governance and board representation, allowing it to use its deep technical and strategic expertise to drive development and de-risk the project<\/b><\/li>\n<li><b>Pine Point is Appian&#8217;s third investment in the attractive zinc market, complementing its world-class portfolio of highly prospective assets located in attractive operating jurisdictions, while strengthening Appian&#8217;s overall presence in <span class=\"xn-location\">Canada<\/span><\/b><\/li>\n<\/ul>\n<p><span class=\"xn-location\">LONDON<\/span>, <span class=\"xn-chron\">April 6, 2023<\/span> \/PRNewswire\/ &#8212; Appian Capital Advisory LLP (&#8220;Appian&#8221; or the &#8220;Company&#8221;), the investment advisor to long-term value-focused private equity funds that invest in mining and mining-related companies, is pleased to announce that it has entered into a joint venture (the &#8220;JV&#8221;) with Osisko Metals Incorporated (&#8220;Osisko Metals&#8221;) to fund, develop and operate the Pine Point zinc-lead project (the &#8220;Project&#8221;), located in <span class=\"xn-location\">Northwest Territories, Canada<\/span> (the &#8220;Transaction&#8221;).<\/p>\n<p><b><span class=\"xn-person\">Michael W. Scherb<\/span>, Founder and CEO of Appian, commented:<\/b><\/p>\n<p><i>&#8220;Appian is excited to advance the development of Pine Point, a highly prospective and strategically located project in the global zinc market. Alongside the expertise of Osisko Metals, Appian&#8217;s extensive technical mine development experience and substantial financial investment will help maximise the potential of Pine Point over the coming years. I look forward to a collaborative partnership with Osisko Metals, the Pine Point team and local communities to deliver value to all stakeholders.&#8221;<\/i><\/p>\n<p>As part of the Transaction, Appian has purchased share capital of Pine Point Mining Limited (PPML), which holds a 100% interest in the Pine Point Project, from Osisko Metals in exchange for a payment in the amount of <span class=\"xn-money\">C$8.3m<\/span> and shares of Osisko Metals at a price of <span class=\"xn-money\">$0.2481<\/span> per share for <span class=\"xn-money\">C$5m<\/span>. In addition, Appian has subscribed for share capital of PPML in exchange for funding <span class=\"xn-money\">C$13.1m<\/span> into PPML and provided an interim loan to Osisko Metals in the amount of <span class=\"xn-money\">C$6.7m<\/span> which has been converted into share capital in PPML.<\/p>\n<p>The Transaction provides Appian with 25.3% of the share capital of the JV at closing. Furthermore, Appian will provide 100% of the equity funding required for the project until it has acquired an ownership interest of 60% in PPML or until a Final Investment Decision has been reached. The parties will fund any additional equity capital requirements for the project pro rata.<\/p>\n<p>Prior to Appian earning into a &gt;50% ownership, the JV&#8217;s Board of Directors will comprise four Directors, <span class=\"xn-person\">Geoff Cohen<\/span> (Chairman) and <span class=\"xn-person\">Adam Fisher<\/span>, as nominees of Appian, and <span class=\"xn-person\">Robert Wares<\/span> and <span class=\"xn-person\">Gordon Stothart<\/span>, as nominees of Osisko Metals. The Chair will have the casting vote on agreed matters requiring simple majority approval and post Appian earning into a &gt;50% ownership, the JV&#8217;s Board of Directors will be comprised of five Directors of which three will be appointed by Appian (including the Chairman). The Technical and Financial Committee of PPML will follow a composition in line with the composition of the JV&#8217;s Board of Directors, allowing Appian to use its deep technical expertise to bring the project into production.<\/p>\n<p>The Transaction follows extensive engagement with the Osisko Metals team and is a strong fit with Appian&#8217;s investment strategy:<\/p>\n<ul type=\"disc\">\n<li>Active board and committee representation will enable Appian to leverage its technical and strategic expertise to optimize the development of the Project<\/li>\n<li>Pine Point is expected to produce clean zinc and lead concentrates and will benefit from its strategic location in a tier-1 jurisdiction and access to international concentrate markets through existing, high-quality infrastructure, including Class I railway access<\/li>\n<li>Significant resource development upside and the ability to leverage returns through mine life extensions<\/li>\n<li>Previously operating mine with geological database of &gt;18,500 drill holes (&gt;1 million meters) representing significant sunk cost<\/li>\n<li>Appian&#8217;s third investment in the attractive zinc market complementing its world-class portfolio of highly prospective assets located in attractive operating jurisdictions<\/li>\n<li>Strengthens Appian&#8217;s presence in <span class=\"xn-location\">Canada<\/span>, where it has recently opened offices in <span class=\"xn-location\">Montreal<\/span> and <span class=\"xn-location\">Vancouver<\/span>, which remains one of the world&#8217;s leading mining jurisdictions with rich mineral deposits and a robust regulatory environment&nbsp;<\/li>\n<\/ul>\n<p><b>About Appian Capital Advisory LLP<br \/><\/b>Appian Capital Advisory LLP is the investment advisor to long-term value-focused private equity funds that invest solely in mining and mining-related companies.<\/p>\n<p>Appian is a leading investment advisor in the metals and mining industry, with global experience across <span class=\"xn-location\">South America<\/span>, <span class=\"xn-location\">North America<\/span>, <span class=\"xn-location\">Australia<\/span> and <span class=\"xn-location\">Africa<\/span> and a successful track record of supporting companies to achieve their development targets, with a global operating portfolio overseeing nearly 6,300 employees.<\/p>\n<p>Appian has a global team of 65 experienced professionals with presences in <span class=\"xn-location\">London<\/span>, <span class=\"xn-location\">New York<\/span>, <span class=\"xn-location\">Toronto<\/span>, <span class=\"xn-location\">Vancouver<\/span>, <span class=\"xn-location\">Lima<\/span>, <span class=\"xn-location\">Belo Horizonte<\/span>, <span class=\"xn-location\">Montreal<\/span> and <span class=\"xn-location\">Perth<\/span>.<\/p>\n<p>For more information please visit <a href=\"http:\/\/www.appiancapitaladvisory.com\/\" target=\"_blank\" rel=\"nofollow noopener\">www.appiancapitaladvisory.com<\/a>, or find us on LinkedIn, Instagram or Twitter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Highlights Closing and formation of a joint venture with TSX-V listed Osisko Metals to develop the Pine Point zinc-lead project in Northwest Territories, Canada, as part of which: Appian has purchased share capital of Pine Point Mining Limited (PPML), which holds the Pine Point Project, from Osisko Metals in exchange for a payment in the [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-17477","post","type-post","status-publish","format-standard","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - 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