Watson Farley & Williams (“WFW”) advised BWCAM Limited (“BWCAM”) on its partnership with AIM listed Andrada Mining Limited (“Andrada”), established through a conditional, staged earn-in agreement.
Under the agreement, BWCAM could provide up to US$51m in staged funding to accelerate the exploration and development of the Brandberg West polymetallic prospecting licence in Namibia, with Andrada retaining operational control of the mine. US$1m of the funding will be injected by way of subscription for new listed shares in Andrada.
BWCAM is a special purpose vehicle owned by ACAM LP, a natural resource-focussed limited partnership which is advised by S&F Investment Advisors Limited.
Andrada is an AIM listed critical metals producer with an expanding portfolio of exploration assets in Namibia.
The WFW London Mining team that advised BWCAM was led by Corporate Partner Tony Edwards, supported by Associates Sven Hoffman and Jonathan Ford.
Tony commented: “We are delighted to have had the opportunity to work with ACAM LP and BWCAM on another important investment in the critical minerals space. Global demand for critical minerals continues to rise and this strategic investment places them at the forefront of an increasingly important sector”.
WFW co-ordinated a cross-jurisdiction legal team from Bowmans comprising Irvin Titus, Rajiv Gujadhur, Wally Horak, Nerina Erasmus and others on Namibian and Mauritian law, and a team from Walkers on Guernsey law led by Annalies McGeogh.
Gowling acted as English law advisers to Andrada and ENS provided them with Namibian law advice.
