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CANADIAN MINERS IN AFRICA • TSX AND TSXV Despite the extremely challenging market conditions that the mining sector experienced in 2015 and 2016, Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV) remain Canada’s leading equity capital markets – which can largely be attributed to solid performance from the global mining sector – with many of those companies developing African project portfolios, writes LAURA CORNISH. “T SX and TSXV are number one in terms of the number and size of global mining company financings,” stated Orlee Wertheim, TSX/ TSXV global mining business development head. Speaking at the 10th Annual Investing in African Mining seminar in London hosted by Africa-focused business development, marketing and educational company MineAfrica late in 2016, Wertheim continued: “To provide better context, in the last five years, 50% of every dollar raised for global public mining companies was raised on TSX or TSXV.” And in 2015 alone, 53% of all global mining financings were done on TSX or TSXV. in 2016 is good news. We saw a drastic change in sentiment which continued to look up as the year progressed. We saw a considerable increase in the number A strong 2016 year for the stock of financings as well as new companies exchange listing on our markets. There was also a While a significant sum of C$6.8 million was 30% increase in the number of financing raised in 2015 for mining companies on transactions from our junior market,” the Toronto markets, 2016 saw Wertheim states. a significant increase with a At $ $114 million, Reservoir total of $8.4 billion raised Minerals (which merged with Min FAST FACT to October 2016. This Nevsun Resources in June Ne Since January 2000, 600 was done through well 2016) topped the scales for 2 mining companies have over 1 000 transactions, the largest mining financing t graduated from TSXV to TSX. up from 748 in 2015. Out of all the companies that deal in 2016. On TSX, d “The improvement have graduated through F Franco-Nevada raised the that system, 42% are mining companies. Towards the end of 2016 Teranga Gold Corporation raised $70 million for its Sabodala gold mine in Senegal which indicates positive investment sentiment for the African continent MINING REVIEW AFRICA | FEBRUARY 2017 19