Avanco Resources Limited is an emerging mid-tier copper producer situated in Brazil

INVESTMENT HIGHLIGHTS

Avanco Resources Limited (“Avanco”) was an emerging mid-tier copper producer situated in Brazil. Its portfolio included the high-grade copper mine Antas North (“Stage 1”) and the Pedra Branca development project (“Stage 2”), as well as the CentroGold and Pantera Copper projects, along with a number of other exploration assets in the world-class mineral province of Carajas, in northern Brazil. Avanco successfully worked to secure the second largest tenement package in the Carajas region of Brazil, second to Vale1, which represented a rare and strategic land position. Appian worked with the management team from the PEA stage to bring Antas North into production and advance its growth portfolio.

On 27 March 2018,  OZ Minerals announced a friendly takeover offer for 100% of Avanco at a valuation of A$418 million. Appian maintained a close dialogue with OZ Minerals in the three years leading up to the acquisition and was closely involved in the negotiations, resulting in a 121% premium offer to Avanco’s share price on the day prior to announcement. The transaction closed on 9 July 2018.

For more information about Avanco and the transaction, please click here.

Ownership structure: Exited

AssetLocationCommodityStageMining Method
Antas NorthBrazilCopper-GoldOperatingOpen pit
Pedra BrancaBrazilCopper-GoldPFSUnderground
CentroGoldBrazilGoldScoping studyOpen pit
PanterraBrazilCopperResource estimateOpen pit
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