How to Capitalize for Exponential Growth w. Jamie Keech – Ep. 60



SUMMARY

Today’s guest is Jamie Keech, a Canadian mining engineer, and natural resource financier. Aside from being a well-respected part of the mining community, Jamie also has a creative side for producing engaging and though-provoking content about the industry. He is the co-founder of Capitalist Exploits and the host of the Resource Insider podcast, which is a must-listen.

“The best brokers, and the only brokers that I see still succeeding, particularly in the mining space – but I assume this is true for every venture industry – it’s the people that have good access to opportunities, but also can make selective decisions.” — @Jamie_Keech [0:42:35]

Some of his partners and peers identify Jamie Keech as a key part in building profitable mining companies, including Equinox Gold and Maverix Metals. He is well known for his ability to connect accredited investors with unique and high-potential opportunities in the resource space.

As a mining engineer, Jamie was an early employee at a company called Anthem United, which went on to become Equinox Gold. He rode that rocket ship from a $20 million market cap to over a billion-dollar valuation in three years. A key player in that deal was Ross Beaty. Jamie explains how Ross and others of that caliber moved with a sense of speed and scalability.

A key part of Jamie’s business is facilitating and participating in private placements. In this episode, Jamie explains the complexities of these deals and the importance of having the right management team to succeed.

“We very specifically invest in very experienced teams. Our motto is largely finding people that have done something successfully once and are trying to do that again.” — @Jamie_Keech [0:22:51]

The mechanics of a private placement can be simple, but there’s always the positive or negative impacts of how that deal is structured, and what it is going to mean for the future.

Of course, there is no perfect answer when financing. But when we talk about capital structure, Jamie says, “Very rarely can a great project outcompete a lousy capital structure.”

We also dive into some great topics about how to finance and build resource companies. So make sure not to miss this episode!

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Key Points From This Episode:

  • Jamie starts off with the record-high gold price and why it is a good time to be in resources.
  • Jamie shares a bit about his background, from engineering student to mining entrepreneur.
  • What Jamie took away from his time at Equinox Capital – all the technical aspects of creating, building, and growing a company.
  • Jamie gives an example of Ross Beaty’s and others’ energy and sense of speed and scale.
  • The kinds of unique investment opportunities that Resource Insider offers its members.
  • The due diligence process when investing in deals with private versus public companies.
  • The value of paying attention to incentives and share structure in the junior mining space.
  • Comparing private venture capital term sheets to available public venture capital funds.
  • Why a private company needs to succeed when buying equity in it and the importance of being highly selective and cognizant of the share structure.
  • Jamie explains private placements versus PIPE – Private Investments in Public Entities.
  • The complexities of private placement and the common mistakes management teams make.
  • Terms are dictated by the market and sometimes you have an advantage, sometimes not.
  • Jamie’s take on the brokerage model being broken and which brokers he sees succeeding.
  • Why Jamie believed the onus is on the company to communicate their value effectively.
  • Jamie’s final thoughts for management teams and retail investors navigating these times.

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