Practice I — Resource Investment业务一 — 资源投资

Brazilian Gold & Tin
Investment Access.
巴西黄金与锡矿
投资通道

We originate, structure, and steward investment access to producing and pre-production gold and tin assets in Brazil — alongside, not in place of, our clients. 我们对接、构建并长期看护巴西在产及待产黄金、锡矿资产的投资通道——与客户共同投资,而非替代决策。

Overview概览

What this practice does.这条业务线做什么。

Our resource investment practice serves clients who want exposure to physical gold and tin assets in Brazil but require a partner who can navigate operator relationships, technical diligence, legal complexity, and cross-border structure — all at a level of seriousness that matches the asset class. 我们的资源投资业务,服务于希望获得巴西实物黄金与锡矿资产敞口、但又需要合作伙伴能够驾驭运营商关系、技术尽调、法律复杂度与跨境架构的客户——其严肃程度,须与资产类别本身相匹配。

We are not a fund. We are not a broker. We are an advisory firm whose value is created across the full life of an investment — sourcing through stewardship — and whose compensation is structured to reflect that. 我们不是基金。我们不是经纪商。我们是一家在整个投资周期内创造价值的顾问机构——从项目挖掘到长期托管——我们的报酬结构正是基于此设计。

01

Sourcing项目挖掘

We source directly from Brazilian operators with whom we have built relationships over years. We do not work from broker decks or aggregated listings. Most opportunities reach us before they reach the open market — if they reach it at all. 我们直接从合作多年的巴西运营商处挖掘项目。我们不依赖经纪人手中的项目册或汇总名单。大多数机会在抵达公开市场之前就已先行抵达我们——很多甚至从未公开。

02

Due diligence尽职调查

Independent technical review (geology, reserves, production), legal review (titles, mining concessions, environmental compliance), and financial review. We engage third-party specialists for each — never relying on the seller's representations alone. 独立的技术审查(地质、储量、产量)、法律审查(产权、采矿权、环保合规)以及财务审查。每一项我们都引入第三方专业机构——绝不仅凭卖方陈述。

03

Structuring架构搭建

Holding structure typically anchored in Singapore or Hong Kong, with appropriate Brazilian operating entities. We design for tax efficiency, dispute resolution, exit liquidity, and protection against operator-level risk. 持股结构通常以新加坡或香港为锚,配合合适的巴西经营主体。我们的设计兼顾税务效率、争议解决、退出流动性,以及对运营商层面风险的隔离。

04

Stewardship长期托管

Quarterly reporting, governance representation, and protective intervention as required. We co-invest where appropriate, so our incentive to watch the asset is real, not contractual. 季度报告、治理席位代表,以及必要时的保护性干预。我们在合适的情形下共同投资——这意味着我们看护资产的动力来自切身利益,而非合同条款。

Asset Types资产类型

Where we deploy capital.资本投向何处。

Gold · Producing黄金 · 在产

Producing gold mines在产金矿

Operating alluvial and hard-rock mines with established reserves and production track record. Lower geological risk; the work is in operator alignment, environmental standing, and title clarity. 已运营的冲积型与硬岩型金矿,储量与产量记录稳定。地质风险较低;关键在于与运营商的对齐、环保资质与产权的清晰度。

Gold · Pre-production黄金 · 待产

Development-stage assets开发阶段资产

Permitted projects with completed feasibility studies, awaiting capital to move into production. Higher return profile, longer time-horizon. Selectively undertaken with co-investment. 已获许可、完成可行性研究、待资本到位即可投产的项目。回报曲线更高,周期更长。仅在共同投资条件下选择性参与。

Tin (Sn)锡 (Sn)

Tin producers & processors锡矿生产商与冶炼厂

Cassiterite producers and concentrators, primarily in Rondônia. Tin's structural deficit and electronics-driven demand create a different return profile from gold — we treat it as a complementary, not substitute, allocation. 锡石(cassiterite)生产商与选矿企业,主要位于朗多尼亚州。锡的结构性短缺与电子工业驱动的需求,构成与黄金不同的回报曲线——我们视之为补充配置,而非替代品。

Geographic Focus地理重点

Where the metal is.金属之所在。

Brazil holds among the largest underexplored gold reserves in the Americas and is a globally significant producer of tin. Our work concentrates in three states where we maintain on-the-ground operator and legal relationships built over years, not weeks. 巴西拥有美洲最大、且尚未充分开发的黄金储量之一,同时是全球重要的锡生产国。我们的业务集中在三个州,这里我们沉淀着多年积累的运营商与法律关系网,而非临时拼凑。

PARÁ

Pará帕拉州

Northern gold belt. Major producing region with established hard-rock infrastructure. Our most active geography for producing-mine investment. 北部黄金带。主要在产区域,硬岩矿基础设施成熟。我们在产矿投资最活跃的区域。

RONDÔNIA

Rondônia朗多尼亚州

Brazil's principal tin-producing state. Our tin practice is concentrated here, alongside selective gold opportunities in adjacent corridors. 巴西主要的锡生产州。我们的锡业务集中于此,同时在邻近通道选择性参与黄金机会。

MATO GROSSO

Mato Grosso马托格罗索州

Mixed alluvial and hard-rock gold geology. Active permitting environment; selective pre-production opportunities under closer review. 冲积型与硬岩型黄金地质并存。许可环境活跃;待产机会需更严格审查。

Who This Is For适合谁

The investor profile we serve.我们服务的投资人画像。

Right fit合适

  • Single-asset commitments of meaningful size单笔资产承诺金额具备意义
  • Five-to-ten-year time horizons五至十年的时间周期
  • Tolerance for operational complexity in exchange for access愿以承担运营复杂度换取项目准入
  • Comfortable with private, non-listed exposure能接受非上市的私募敞口
  • Family offices, HNW principals, strategic investors家族办公室、高净值主理人、战略投资人

Not a fit不合适

  • Short-term traders or speculative capital短线交易者或投机性资本
  • Investors expecting daily liquidity期望每日流动性的投资人
  • Capital that cannot pass standard institutional KYC无法通过标准机构 KYC 的资金
  • Clients seeking execution-only brokerage仅寻求执行型经纪服务的客户
FAQ常见问题

Questions we hear often.我们常被问到的问题。

What is the minimum commitment size?最低投资规模是多少?
We do not publish a fixed minimum because each mandate is sized to the asset and the structure. As a guideline, our resource investment work is rarely meaningful below the low-seven-figure USD range. Discuss with us — we will tell you directly if a particular opportunity does not match your scale. 我们不公开固定最低门槛,因为每项受托事务的规模取决于资产与架构。作为参考,我们的资源投资业务通常在百万美元以上才具备意义。请直接与我们沟通——若某个机会与您的体量不匹配,我们会坦率告知。
How do you protect investors against operator-level fraud?如何防范运营商层面的欺诈?
Three layers. First, we only work with operators with whom we have multi-year, verifiable track records. Second, the holding structure typically holds the operating company's equity directly — capital does not pass through unverified intermediaries. Third, our co-investment alignment means we have exactly the same exposure to operator failure as our clients do. 三层防护。第一,我们仅与拥有多年可验证记录的运营商合作。第二,控股架构通常直接持有经营公司股权——资金不经未验证的中间方流转。第三,我们的共同投资对齐机制,意味着我们对运营商失败的敞口与客户完全相同。
How is your firm compensated?你们如何收取费用?
Compensation is mandate-specific and disclosed in full before any engagement begins. It typically combines an advisory component with structures that align our outcomes with the long-term performance of the asset. We do not earn anything that depends on a single transaction closing — that is by deliberate design. 费用按受托事务个案确定,在合作开始前完整披露。结构通常结合顾问费部分与让我们的回报与资产长期表现挂钩的安排。我们不收取仅依赖单笔交易关闭的费用——这是刻意设计。
What about Brazilian regulatory and ESG risk?巴西的监管与 ESG 风险如何处理?
Brazilian mining is regulated; that is not the risk. The risk is operating without full title clarity, valid environmental permits, or compliant labor practices. We will not engage with any asset that does not stand up to independent legal and environmental review — and that review happens before, not after, the structure is built. 巴西的矿业是受监管的——这不是风险所在。真正的风险在于产权不清、环保许可不全或劳动合规缺陷。我们不会承接任何无法通过独立法律与环保审查的资产——而这项审查发生在架构搭建之前,而非之后。
How long does a typical engagement take from first conversation to closing?从初次沟通到交易关闭,通常需要多久?
For producing-asset transactions, four to nine months is typical. Pre-production assets can take twelve months or more. We do not rush — the firms that close fast on these assets are typically the ones whose investors regret it later. 对于在产资产交易,通常需要四至九个月。待产资产可能需要十二个月以上。我们不会赶进度——在这类资产上快速完成交易的机构,事后客户往往后悔。
Can I see case studies or past transactions?能否查看过往案例或交易记录?
Not on a public website. Past transaction information is available to qualified counterparties under appropriate confidentiality once initial scoping is complete. Discretion is part of how we work — we treat your eventual transaction with the same care. 不会公开发布。过往交易信息在初步范围界定完成后,会向合格对手方在适当保密协议下提供。审慎是我们的工作方式——未来您的交易,我们也会以同等审慎对待。
Related Insights相关洞察

Read further.延伸阅读。

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Discuss a specific opportunity. 探讨一项具体机会

If you have capital seeking exposure to Brazilian hard-asset opportunity — or you have an asset seeking the right capital — we would welcome the conversation. 如果您有资金寻求巴西实物资产敞口,或您手中的资产正在寻找合适的资本,欢迎一次对话。

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