GREY:EORBF - Post by User
Post by
SergeBruneton Jun 20, 2013 3:31pm
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Post# 21549832
New Fund
New FundOrbite will probably have access to CDQ's new fund...
Timely indeed...
The Caisse Of Quebec Creates New $250 Fund For Natural Resource Sector
Thursday June 20, 2013 10:03 AM
The Caisse de dépôt et placement du Québec created a new a $250-million fund called the Sodémex Développement. The fund will make investments of $5 million to $20 million in Québec companies in the natural resources sector that are in development stages. "The current business climate in the natural resources sector can present attractive long-term investment opportunities," says Normand Provost, executive vice president, equity at the Caisse. "This represents a critical entry point for the Caisse in projects that are in the development stage." The development phase represents a critical period because these companies are often acquired by bigger players in their industry due to insufficient capital to continue operations - this new fund will alleviate the shortage of available capital, the Caissa says. A criteria has been put forward by the Caisse for companies to qualify, ranging from experience, sector knowledge, types of minerals mined, production and operating costs, among others. The Caisse has been active since 1996 in the Sodémex Fund, which is for Québec mining companies in the exploration phase.
By Alex Létourneau of Kitco News aletourneau@kitco.com