Beer & Co. – What we do and How we do it
Beer & Co. brings together
- Institutional and retail distribution, through independent companies and advisers who have a clear interest in this space as well as through other means
- Advice on project economics, sensitivities andproject viability
- Project financing, including means other than vanilla debt and equity, including strategic partner search
- Independent analysis and research, which we publish and distribute for the benefit of our clients.
Our approach often starts with a review of the company – to confirm the quality of assets and management to be able to attract finance when presented in an appropriate way.
Our first step is to undertake a detailed research report. From this we will gain a good understanding of the company in a way that we can effectively sell it and offer appropriate and targeted advice. The research will be distributed and will be used as the basis for further advising regarding:
- Secondary raisings, especially focussing on SPPs, which tap the existing shareholder base but require proper support to ensure a good take-up
- Corporate support and advising on sources of funding other than public equity
- Asian roadshows, using the network we have established
- Australian roadshows
- Research to support roadshows and raisings
Great research is not worth anything if very few people get to read it. This means that
- Research must be readable; and
- It must be distributed, in a broad but targeted manner (it is no value distributing mining research to investors who are focussed on yield).
Our research is currently distributed to
- Over 200 institutional investors globally;
- Over 100 advisers in Australia who have an interest in small resources
- Over 100 High Net Worth Investors directly;
- A growing number of individual private clients.
Beer & Co. is willing to undertake commissioned research. The fee and the method by which we will be compensated will vary with
The amount of work involved
- A purely descriptive report would be much less than a report requiring modelling, based on feasibility data, which will be less than a report for which there may be defined and sufficiently extensive mineralisation, but we need to construct the data; and
The amount of support required
- In our view, a single piece of commissioned research in and of itself, has only a short term impact, and needs to be supported through periodic follow-up; and
The nature of the engagement
- Are we executing a piece of stand-alone research or is it being done as part of corporate advising or capital raising or roadshow.
For Beer & Co Research, Pieter takes primary carriage, but at times will call on other analysts for Quality Assurance.
Not all of the companies which Beer & Co researches are amenable to financial modelling.