Appian targets assets with robust return profiles through a defensive and alpha-generative investment mandate

Underground operations at Appian portfolio company Roxgold (West African gold producer)

Our operations

In just three years, Appian has successfully supported five mines into production, with two more operations expected to achieve this milestone within 18 months.

Targeting down-side protected assets with near term production potential, all of our portfolio companies are within the first or second quartile of their respective cash cost curves.  Since inception, Appian has consistently delivered, establishing a proven track record of partnering with management teams to build tangible operating and financial value within portfolio companies, irrespective of commodity prices.

Investment highlights

Roxgold (Gold, Burkina Faso)

Roxgold (Gold, Burkina Faso)
Asset
Location
Commodity
Stage
Mining Method
M&I Resource
Inferred Resource
Annual Production
  1. Yaramoko technical report, December 2017
  2. Roxgold corporate presentation, May 2018

Avanco Resources (Copper-Gold, Brazil)

Avanco Resources (Copper-Gold, Brazil)
Asset
Location
Commodity
Stage
Mining Method
M&I Resource
Inferred Resource2
Total Resource2
Annual Production
  1. Avanco corporate presentation, October 2017
  2. Avanco press release, “Carajas Resource Base Beyond 1Mt Contained Copper”, March 2018

Harte Gold (Gold, Canada)

Harte Gold (Gold, Canada)
Asset
Location
Commodity
Stage
Mining Method
M&I Resource2
Inferred Resource2
Total Resource2
Annual Production
  1. Harte Gold Corporate Presentation, February 2018
  2. Harte Gold press release, “Harte Gold Triples Mineral Resource at the Sugar Zone Project”, February 2018

Peak Resources (Rare Earths, Tanzania)

Peak Resources (Rare Earths, Tanzania)
Asset
Location
Commodity
Stage
Mining Method
M&I Resource
Inferred Resource
Annual Production
Operating Cost Position
  1. Peak Resources Corporate Presentation, April 2018

Serrote da Laje (Copper-Gold, Brazil)

Serrote da Laje (Copper-Gold, Brazil)
Asset
Location
Commodity
Stage
Mining Method
M&I Resource
Inferred Resource
Resource
Annual Production
  1. Appian internal estimate / plan

Santa Rita (Nickel-Copper-Cobalt, Brazil)

Santa Rita (Nickel-Copper-Cobalt, Brazil)

Royalty portfolio