Business
The company provides funding in the area of project financing to medium sized exploration and mining companies, the overriding criteria being that the borrower has clear title to an asset with an industry recognised resource statement.
Previous experience of the principals had identified that there was a gap in the market for junior companies to gain access to the level of funding which the more established mining companies were utilising. This was acting as a barrier to growth for companies, some of which had world class assets. This impediment to their growth resulted in them being squeezed for funds at a time that they should be putting their assets into production. The end result was that the bigger companies then took over the smaller companies at a knockdown price.
By carefully researching the assets owned by a junior company, Samphire Resources aims to identify and finance suitable junior companies to progress their assets to production.