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  • Pages
  • Editions
01 Cover
02 Welcome Letter / Sections
03 Article & Interview Directory
04 Section 1: Introduction
05 Introduction to Mining in Ontario
06 Government of Ontario Interview
07 Ontario Mining Association (OMA) Interview
08 Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Interview
09 Navigating Uncertainty
10 Ormston List Frawley LLP Interview
11 PDAC Interview
12 Section 2: Production and Development in Ontario
13 Production in Ontario
14 Map of Ontario Mines
15 Newmont Interview
16 Barrick Gold Interview
17 Wesdome Gold Mines Interview
18 Alamos Gold Interview
19 Evolution Mining Interview
20 A New Wave of Ontario Gold Mines
21 Argonaut Gold Interview
22 Equinox Gold Interview
23 Industry Thoughts: Production and Development in Ontario
24 Section 3: Mining Finance
25 Mining Finance and Investment
26 Insights from the Toronto Stock Exchange
27 PearTree Securities Interview
28 Triple Flag Interview
29 Red Cloud Securities Interview
30 IBK Capital Interview
31 Stifel Interview
32 Roth Canada Interview
33 Industry Thoughts: Mining Finance Trends
34 Section 4: Toronto's Global Reach
35 Toronto’s Global Reach
36 Toronto's Global Reach Map
37 Rupert Resources Interview
38 Eloro Resources Interview
39 Industry Thoughts: Global Operations Based in Ontario
40 Eyes on Latin America
41 Torex Gold Resources Interview
42 Minera Alamos Interview
43 Sable Resources Interview
44 Section 5: Junior Exploration
45 Junior Exploration
46 Great Bear Resources Interview
47 Exploring Across Canada
48 O3 Mining Interview
49 Purepoint Uranium Group Interview
50 ALX Resources Interview
51 Industry Thoughts: Gold Juniors Have Their Say
52 Gold Juniors Replacing Depleting Resources
53 Moneta Gold Interview
54 Goldshore Resources Interview
55 Galleon Gold Interview
56 Element79 Gold Interview
57 Signature Resources Interview
58 Section 6: ESG and the Battery Materials Supply Chain
59 Transition Metals on the Rise
60 Conquest Resources Interview
61 Generation Mining Interview
62 Inventus Mining Interview
63 Noble Mineral Exploration Interview
64 The Move to Combat Climate Change Gathers Pace
65 Insights from Onyen Corporation
66 Thorn Associates Interview
67 Leading the Charge
68 Electra Battery Materials Interview
69 Frontier Lithium Interview
70 Industry Thoughts: Entering The Transition Economy
71 The Battery Material Supply Chain
72 ION Energy Interview
73 Clean Air Metals Interview
74 Section 7: Services, Technology and Innovation
75 Engineering, Construction & Consultancies
76 Ausenco Interview
77 Cementation Americas Interview
78 PCL Construction Interview
79 Redpath Mining Interview
80 Technological Advancements & Innovation
81 Industry Thoughts: Canadian Associations
82 EY Interview
83 Maestro Digital Mine Interview
84 Centric Mining Systems Interview
85 Industry Thoughts: OEMs Have Their Say
86 Drone Delivery Canada Interview
87 Sofvie Interview
88 Novamera Interview
89 Industry Thoughts: Paving the Way for ESG Reporting
90 Section 8: Company Profiles
91 Wesdome Company Profile
92 ION Energy Company Profile
93 PearTree Securities Company Profile
94 Ormston List Frawley Company Profile
95 Maestro Digital Mine Company Profile
96 Sofvie Company Profile
97 Credits

Braden Fletcher, President and Head of Investment Banking,

ROTH CANADA

"As companies grow on Canadian markets, there is a necessity to access the deeper pools of US and international capital."

Could you provide some of your career background?

My career started in investment banking, and I have always had a passion for helping growth equity companies develop strategy, access capital and build for the long term. That took me from Investment Banking to Venture Capital, launching a startup and ultimately the TSX Venture Exchange, where we focused on improving the client experience by adopting technology, policy innovation and advocating for Canadian markets. Some of our accomplishments during those four years include digitizing the Personal Information Form (PIF) process, developing TMX’s LINX system for issuer submissions and engaging with the Exchange, rewriting the share-based compensation and shares for debt policies, and rewriting the Capital Pool Company (CPC) program – which is analogous to a special purpose acquisition company (SPAC) for early stage issuers. In addition to improving the client experience, we grew our domestic and international listing activity, saw increases to financing activity across the market from new industries like cannabis, psychedelics, crypto to bellwethers energy and mining where Canadian markets are globally dominant. As these companies grow on Canadian markets, there is a necessity to access the deeper pools of US and international capital. Joining Roth Canada was an opportunity to leverage the US based Roth Capital Partners platform to help companies do exactly that.

How can Roth help unlock international markets, such as the US, for Canadian miners?

US capital markets are somewhere between 20 and 35 times the size of Canadian capital markets. Roth Capital is the leading underwriter of companies under a billion dollars US market capitalization. Roth spent almost 35 years cultivating unique buy side relationships and developing a team that focuses on these growth equity names. Today, the firm has over 150 professionals across the US, including roughly 25 research analysts covering over 300 companies, an institutional sales force in Newport Beach and New York, and sector specific investment banking depth across all sectors. Last year, Roth Capital did over US$15 billion in financing activity across 148 transactions, with 2021 already beating those numbers. When we work with Canadian companies, we leverage this platform to help provide access to new prospective investors.

How will Roth Canada’s relationship to Roth Capital Partners support the Canadian mining sector?

As the Canadian affiliate, Roth Canada leverages Roth Capital’s platform to help mining companies with conference access and deal or non deal roadshows to new pools of capital.

Which is the best advice for companies looking to graduate from the TSX-V to the TSX?

Graduation from Venture to TSX adds credibility, companies become eligible for index inclusion, and there are benefits to being TSX listed over Venture or CSE listings – however it is not a panacea or guarantee of liquidity or premium valuations The reality is that a company's fundamentals matter most to investors, and then selecting a listing venue should be about accessing the deepest pool of capital possible – which is why we see so many Canadian listed companies pursuing a dual list in the US.

How can Roth support the mining sector as ESG gains significance?

Roth Capital Partners’ sustainability team has done close to US$30 billion dollars in transactions in the last 20 years. This has not been a recent opportunistic shift, this is a team of long-believers in solar, water and electric vehicles. Sustainability has been a core focus of our US partners. Canadian listed miners have always been leaders in water treatment, mine site reclamation and social efforts in jurisdictions they operate. The adoption of ESG reporting is providing these companies an opportunity to finally showcase these positive impacts.

What is sometimes missed is the importance of mining in supply chains – we have seen it with lithium as a component in batteries, however copper, cobalt, nickel, even silver are required to facilitate the transition to a low carbon, low emission, sustainable future. The International Energy Agency (IEA) forecasts energy demand to grow 19% by 2040, which cannot be delivered solely through renewables. I continue to believe nuclear is going to be a necessity. Global stockpiles are in decline, and that should be positive for uranium.

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Industry Thoughts: Mining Finance Trends