Canaccord Capital Corp
|Canaccord Capital Corp|
|Active in||South Africa, Russian Far East, Ecuador, Honduras, Brazil, Tanzania, Romania, Mexico, Ghana, Burkina Faso, Ivory Coast|
|Targeted||base metals, precious metals|
Canaccord Capital Corp, based in Canada and listed on both the TSE and London’s AIM, is a leading independent, “full service” investment dealer for private client services and capital markets, offering brokerage and investment banking services.
Among its wholly-owned subsidiaires are Canaccord Genuity, Cannacord Wealth Management, and Canaccord Wealth Management's Hoesgen Investment Partners.
In FY 2007, Canaccord led 174 transactions, worth C$ 5.1 billion; and participated in another 497 transactions which raised more than C$ 32.3 billion. A quarter of these transactions was in the mining & metals sector, while the revenue derived from this sector comprised 42% of the company’s total that year - reaping around 300 million dollars for Canaccord. [Cannacord Capital Annual Report 2007].
These results enabled Canaccord to claim number one position among corporate transaction arrangers in Canada that year.
Among its more recent mining-related clients have been: Peak Gold, Yamana Gold, Paladin Energy, European Nickel, Corriente Resources, Metal Corp, Galway Resources, Temex Resources and Silverado Gold Mines Ltd.
Canaccord Adams was co-lead manager, and JPMorgan Cazenove sole book runner, for the placing of shares in London-based (non-LSE listed) Aricom, whose mineral holdings in Russia’s Far East are being coveted by London-listed Peter Hambro Mining plc [Reuters, 5 February 2009].
Goldman Sachs, RAB Capital Canada Inc, along with CIBC World Markets as co-lead managers and joint book runners; and including National Bank Financial, along with UBS Securities Canada, Merrill Lynch Canada Inc., RBC Dominion Securities Inc., Raymond James, Salman Partners Inc and Canaccord Capital Corporation as co-managers, launched a share offering for Pan American Silver in February 2009 [MarketWire 5 February 2009].
In June 2009, underwriters led by Cannacord Capital Corp secured an option to purchase Cdn$ 25 million in subscription receipts for Aura Minerals Inc which intends to acquire a gold mine in Honduras and two in Brazil from Yamana Gold Inc [MJ 19 June 2009].
In April 2010, a syndicate led by Canaccord Financial Ltd issued US$29.4 million worth of ordinary shares, and C$2 million of flow-through shares, on behalf of Labrador Iron Mines - which is 50% owned by Anglesey Mining plc [MJ 2 April 2010].
In October 2010, Canaccord Genuity Corp announced that it would be launching an IPO for Mexico Minerals Development Corp (which has mineral claims in Mexico's Sonora state) later in 2010.
The following month, Canada's Baja Mining Corp announced that it had entered into a deal with Canaccord Genuity and Raymond James Ltd to sell 145.5 million shares at C$1.10 each, in order to fund Baja's copper-cobalt-zinc-managese project in Mexico [MJ 5 November 2010].
Canaccord Genuity, along with UBS AG (UBS Securities Canada Inc), in November 2010 also led a syndicate of underwriters for a Cdn$300 million share offering on behalf of AIM and TSX-listed Eastern Platinum Ltd, in order for that company to fun the first phase of a platinum project in South Africa's Bushveld complex [MJ 26 November 2010].
At the start of 2011, Canaccord, along with Clarus Securities Inc, agreed to buy shares worth around Cdn$200 million to back Canadian gold miner Keegan Resources [ MJ 21 January 2011].
As of April 2011, AIM-listed companies, for which Canaccord Genuity has acted as a broker, were: CIC Mining, of Canada; African Mining; Gemfields; ECR Minerals; Petra Diamonds; and Orsu Metals.
In October 2011, Hoesgen Investment Partners announced a private placement of some US$16 million in unit shares to Tembo Gold Corp, a Canadian firm with gold interests around Lake Victoria, Tanzania.
The following month, Hoesgen handled an IPO for Valhalla Resources, a Canadian company with gold exploration in Romania and the Tethyan Belt in central and southeastern Europe. And, the following month, it promoted Ecuador Capital Corp., a private Canadian exploration and mining company, focused on the Condor Gold Project in Ecuador.
In March 2012, Canaccor Genuity issued a recommended target price for holdings in Canada's Endeavour Mining, which operates gold mines in Ghana and Burkina Faso, and has a gold mine that is close to production in Cote d'Ivoire