Message from Appian Capital Advisory LLP ("Appian"), the investment advisor to 
long-term value focused private equity funds (the "Appian Funds") that invest 
solely in mining and mining related companies. 

The spread of coronavirus has had a profound impact on people's lives, 
economies, commodity prices and financial markets worldwide. Although the full 
impact is not yet clear, Appian is monitoring the situation closely. Our first 
priority is the safety of our people. Our operations around the globe have 
implemented measures to protect employees, limit the spread of the virus and 
assist local communities. We will keep these arrangements under review as the 
situation evolves and will continue to assess how we can play our part in the 
response.  

We are also conscious that the broader mining industry is already under 
pressure. There has been a demand shock and prices have fallen. Restrictions on 
the movement of people have forced companies to change working patterns. Supply 
disruption could increase further if the virus spreads to key commodity 
producing regions in Latin America and Africa. It is precisely in times like 
this that long-term capital and through-the-cycle thinking are required to 
support high quality businesses and management teams. 

To address the challenges presented by COVID-19, Appian has expanded its focus 
and is ready to provide short-term, flexible financing solutions across the 
capital structure, including credit facilities, to support mining companies 
with near term balance sheet pressures and liquidity concerns – in addition to 
considering our usual direct equity investments. The long-term nature of the 
Appian Funds' capital base and the flexibility of Appian's investment mandate 
allow us to support partners within the range of US$50 million to US$300 
million of financial support, including equity, bridge loans and other forms of 
credit.  

Appian has significant investment experience in both development assets and 
operating mines across a range of commodities and jurisdictions, with a current 
portfolio including base, precious and specialty metals in Latin America, North 
America, Australia and Africa. We remain constructive on the medium and 
long-term outlook of the sector and look forward to continuing our engagement 
with industry participants world-wide.

Should you wish to reach out to one of Appian's offices and presences in 
London, Toronto, Lima, Belo Horizonte or Sydney, or our additional technical 
teams in Mexico and South Africa, please email: info@appiancapitaladvisory.com.

About Appian Capital Advisory LLP

Appian Capital Advisory LLP is the investment advisor to long-term value 
focused private equity funds that invest solely in mining and mining related 
companies.

Appian is a leading investment advisor in the metals and mining industry, with 
global experience across South America, North America, Australia and Africa and 
a successful track record of supporting companies to achieve their development 
targets.

For further information:
Finsbury  +44 (0)20-7251-3801 / AppianCapital-LON@finsbury.com 
Charles O'Brien, Ruban Yogarajah, Richard Crowley

Source: Appian Capital Advisory LLP