I had the honour to give a presentation on capital raising for junior mining firms at a Mining Summit in Accra last week. Mining contributes about 24% of tax revenues in Ghana and 6% of GDP. I gave an overview of early stage mining ventures, what the typical sources of capital are and the best financing strategies at each stage in the life cycle. I concluded by comparing the GSE, TSX, AIM and the ASX.
The Business Development Director of the Nigerian Stock Exchange and her team were at the conference, aggressively looking for listing transactions. The Ghana Stock Exchange could not be bothered to attend. Even the Deputy Minister disappeared soon after he gave his address and would not wait to listen to industry feedback.
No wonder we don't understand the industry.
