Watson Farley & Williams (“WFW”) has advised Daniel Stewart & Company Plc (“Daniel Stewart”) as corporate adviser and broker to Peruvian gold and silver producer VI Mining Plc (“VI Mining”) on its admission to trade on London’s NEX Exchange Growth Market.
VI Mining completed a successful share placement which raised £5.36m in gross proceeds. The market capitalisation of VI Mining is now £535m, making it the second largest company by market capitalisation on the exchange, which focuses on earlier stage, entrepreneurial companies seeking access to growth capital.
Daniel Stewart is a full service investment bank offering both corporate advisory and institutional stockbroking services.
VI Mining is an emerging gold and silver mining business focused on the operation and development of two high quality gold mining assets in the La Libertad region of north-western of Peru. It is also developing two gold tolling operations for small scale miners.
Peru is the largest gold producer in South America and the sixth largest in the world, with approximately half of its GDP being derived from mining activities. The Government of Peru recently introduced laws in 2012 to better regulate the sector, which has allowed small and artisanal mining to become a dynamic growth sector for investors, as well as a legal and tax regime designed to support mineral production by encouraging international investment.
The WFW London Corporate team advising Daniel Stewart was led by Partner Jan Mellmann, Head of WFW’s Global Natural Resources Group, assisted by Associate Alex Green.
Jan commented: “That Daniel Stewart opted for WFW to act as their legal adviser on this matter demonstrates the firm’s well-deserved reputation for excellence advising on capital markets transactions in the mining and natural resources sector. This is an important fundraising to help VI Mining achieve its aim of becoming one of Peru’s leading precious metals producers”.
Gowlings acted as VI Mining’s legal advisers.