Board Advisory
Computational mining finance and capital strategy
I provide independent board-level advisory to selected exploration and development companies facing material financing and capital-allocation decisions.
Resource development is a sequential capital-allocation process. Financing decisions can affect ownership, project-level economic interests, contractual rights, future funding capacity, and the strategic options available as technical evidence develops.
I apply a quantamental framework to compare realistic capital pathways before capital is committed. The analysis integrates technical evidence, company fundamentals, market conditions, financing mechanics, quantitative modeling, and probabilistic reasoning to assess the consequences of each alternative for project progression and shareholder economics.
Advisory Focus
Capital strategy and financing architecture across equity, debt, convertibles, strategic investments, royalties, streams, joint ventures, earn-ins, and hybrid structures.
Each alternative is assessed against funding requirements, milestone progression, dilution, instrument economics, project-level claims, financing certainty, future capital needs, and risk-adjusted shareholder value.
Typical Mandate Situations
financing and work-program approval
competing financing proposals or term sheets
strategic equity investments
royalty and streaming structures
joint ventures and earn-ins
convertible and warrant structures
staged versus fully funded programs
independent board challenge before a material capital commitment
Mandate Structure and Independence
Engagements are fixed-fee and independent of transaction completion, financing size, or securities issuance.
I do not undertake capital introductions, securities placement, investor solicitation, issuer promotion, transaction-linked compensation, or negotiation on behalf of the company.
Mandates are subject to conflict and information-restriction review before acceptance.
Selected mandates are accepted where the financing decision is material and the available information supports rigorous analysis.
Methodology
My methodology combines mining-sector fundamentals and technical evidence with quantitative financial modeling, computational analysis, probabilistic reasoning, and structured decision frameworks.
Financing Path Analysis
Financing is analyzed as a sequence of interdependent capital decisions rather than an isolated transaction.
The model incorporates corporate cash requirements, financing triggers, multi-round dilution, instrument economics, project-level claims, and subsequent capital requirements to assess how the current financing affects future flexibility, funding capacity, and shareholder outcomes.
Total Economic Transfer
Headline dilution captures only part of financing cost.
The framework assesses economic transfers through equity issuance, warrants and options, fees, royalties, streams, project-level interests, security packages, strategic rights, control provisions, and restrictions affecting future financing.
Economic transfers are normalized where valuation is defensible. Rights, restrictions, and path dependencies are recorded separately where monetization would introduce false precision. Scenario ranges, sensitivities, and break-even values are used where a reliable point estimate cannot be supported.
Capital to Decision
Technical programs are mapped against decision-relevant milestones to determine the capital required to reach the next information state capable of changing an investment or financing decision.
Full-program funding is tested against staged deployment, including minimum technically coherent program size, financing certainty, mobilization costs, operating windows, execution efficiency, future market access, and the value of preserving strategic optionality as new evidence emerges.
The analysis links capital deployment directly to technical progression and the financing position expected at the next decision point.
Quantamental Decision Analysis
Deterministic financial models govern capitalization, corporate cash requirements, dilution, capital sequencing, financing triggers, and instrument economics.
Scenario analysis tests alternative technical, market, financing, and execution outcomes. Break-even analysis establishes the financing-price, valuation, technical, or probability thresholds required for a proposed structure to support the intended economic outcome.
Probability estimates are used only where the available evidence supports them. Geological and technical uncertainty is otherwise represented through scenarios, ranges, sensitivities, management or specialist-supported assumptions, and explicit decision thresholds.
Rules-based computational checks and AI-enabled workflows support evidence extraction, reconciliation, contradiction testing, scenario production, and quality control. Material calculations remain deterministic, traceable, and subject to human review.
Retained Shareholder Economics
Financing alternatives are assessed through their implications for risk-adjusted shareholder value rather than ownership retention alone.
The analysis considers legacy ownership, project-level economic interests, financing capacity, future capital requirements, contractual claims, downside exposure, and strategic optionality across the expected capital path.
The objective is to determine whether the capital raised, economic claims transferred, and financing risks assumed are proportionate to the technical progression and risk-adjusted per-share value the financing is expected to support.