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Investors & partners

Partnership structures.

Five families of agreement BYM is prepared to discuss with investors, offtake counterparties and equipment partners. They are described here so that a first conversation can start from a shared vocabulary. None of them is an offer.

The structures

Five ways to work with BYM.

  1. 01

    Direct equity

    Minority or strategic equity participation with board representation and governance rights.

  2. 02

    Offtake financing

    Capital deployed against gold delivery commitments at agreed pricing formulas.

  3. 03

    Production-linked funding

    Returns correlated to verified production output, with independent weighing and assay.

  4. 04

    Equipment financing

    Lease-to-own or production-backed financing of specific equipment, secured on the assets.

  5. 05

    Commodity financing

    Instruments backed by future production with structured delivery and pricing mechanisms.

In practice

What each structure involves.

A plain description of the mechanics, so that counterparties know what to expect before a briefing. The wording is deliberately conditional: these are the terms such agreements typically contain. Where BYM has signed an agreement of a given type (see the news and the document library), its terms are shared on request, not published here.

Equity participation

A direct equity structure would typically involve a subscription for shares in one of the BYM entities, documented in a shareholder agreement. That agreement would set out governance rights: board representation, information rights, reserved matters and the treatment of future share issues. Due diligence on the registration records, the cooperative agreements and the equipment would precede any subscription.

Offtake and commodity financing

An offtake or commodity structure would typically involve capital advanced against delivery commitments for a defined quantity of gold over a defined period. Pricing would be set by a formula referenced to the LBMA gold price at or around the delivery date, less agreed deductions. Each delivery would be weighed and assayed independently, and the parties would agree in advance on the refinery, the logistics and the point at which title passes.

Production-linked funding

A production-linked structure would typically involve returns calculated on verified output rather than on a fixed schedule. Verification would rest on weighing and assay records produced by an independent party, with periodic reporting to the funder on volumes, recoveries and costs. The agreement would define what counts as production, how disputes over measurement are resolved and what happens when output is interrupted.

Equipment financing

An equipment structure would typically involve the financing of specific, identified machines: excavators, pumps, loaders or vehicles. The financier would hold security over the assets, with a lease-to-own arrangement under which title passes to BYM once the agreed payments have been made. Payments could be fixed or linked to production, and the agreement would cover insurance, maintenance obligations and the position of the assets on site.

What information we can shareGovernance & registration

Not an offer

The structures described on this page are presented for information only. They do not constitute an offer to sell or a solicitation to buy securities or any other financial instrument, in any jurisdiction. Any transaction would be subject to due diligence and definitive written agreements.

Read the full disclaimer

Next step

Discuss a structure with management.

Write to our corporate address with the structure you have in mind and the scale you are considering. We arrange a briefing call before sharing documents.