Limestone Mining Technical Adviser

Company: Africa Firm

Engagement: Short-Term Consultancy / Technical Advisory

Location: Ghana, with travel to project site as required

Reports to: Group CEO / Investment Committee

Role Purpose

Africa Firm is evaluating a potential equity investment in a limestone mining project in Ghana.

We are seeking an experienced Mining Technical Adviser to independently assess the technical, commercial and financial viability of the project and advise Africa Firm on the central investment question:

Should Africa Firm invest equity in this limestone project, and if so, at what valuation, how much capital is actually required, and under what conditions?

The Adviser will act exclusively on behalf of Africa Firm as a buy-side technical adviser, independently testing information and assumptions provided by the project owners.

Key Responsibilities

The Mining Technical Adviser will lead and coordinate due diligence across the following areas:

1. Mineral Resource & Geology

• Review mineral rights, geological studies, exploration data and resource estimates.
• Assess limestone quantity, quality, grade and chemical composition.
• Evaluate the reliability of drilling, sampling and laboratory results.
• Determine confidence in mineable resources/reserves and expected mine life.
• Identify further geological work required before investment.

2. Mine Plan & Production

• Review or develop a preliminary mine plan and production schedule.
• Assess mining method, stripping ratio, recovery/yield and equipment requirements.
• Determine realistic annual saleable production.
• Assess processing requirements, including crushing, screening and beneficiation.
• Review infrastructure, power, water, roads and logistics requirements.

3. CAPEX & OPEX

• Independently estimate and challenge:
• Initial mine-development CAPEX
• Mining and processing equipment
• Infrastructure
• Pre-production expenditure
• Sustaining CAPEX
• Operating cost per tonne
• Logistics and delivered cost per tonne
• Contingencies
• Benchmark major cost assumptions against comparable operations and supplier quotations where available.

4. Market & Offtake

Working with Africa Firm and/or specialist advisers:

• Assess the addressable market for the limestone and potential derivative products.
• Review customer demand, product specifications and pricing.
• Assess competitors and substitute products.
• Evaluate transport economics and customer delivery costs.
• Verify proposed customers, Letters of Intent and offtake arrangements.
• Determine realistic saleable volumes and realised prices.

5. Integrated Financial & Investment Model

Develop or independently review an investment-grade financial model connecting:

Resource → Mine Plan → Production → Sales → Revenue → OPEX → EBITDA → CAPEX → Working Capital → Tax/Royalties → Debt → Free Cash Flow → Equity Returns

The model should determine:

• Total project funding requirement
• Initial CAPEX
• Peak working-capital requirement
• Funding contingency
• Revenue and EBITDA
• Free cash flow
• Project NPV and IRR
• Africa Firm equity IRR
• MOIC
• Payback period
• Break-even production and selling price
• Appropriate debt/equity structure

The Adviser must conduct sensitivity and downside analysis covering changes in production, selling price, CAPEX, OPEX, fuel/logistics costs, project delays and working-capital requirements.

6. Valuation & Investment Recommendation

Independently assess:

• Enterprise and equity value of the project/company.
• Appropriate valuation methodology.
• Maximum valuation Africa Firm should be prepared to accept.
• Appropriate amount of Africa Firm equity investment.
• Recommended ownership percentage.
• Additional funding potentially required after initial investment.
• Key conditions precedent to investment.
• Technical and commercial milestones that should trigger subsequent capital deployment.

The Adviser should clearly distinguish between a viable mining project and an attractive investment at the proposed valuation.

Key Deliverables

At the conclusion of the assignment, the Adviser will provide:

1. Independent Technical Due Diligence Report
2. Resource and limestone-quality assessment
3. Preliminary mine and production plan
4. CAPEX and OPEX assessment
5. Working-capital requirement
6. Market/offtake assessment
7. Life-of-Mine financial model in Excel
8. Project and equity valuation
9. Base, downside and severe-downside scenarios
10. Risk register and proposed mitigants
11. Investment conditions and recommended transaction protections
12. Investment Committee presentation

The final recommendation must clearly state:

GO / CONDITIONAL GO / NO-GO

and answer:

Should Africa Firm invest?

How much should Africa Firm invest?

What is the maximum valuation Africa Firm should accept?

What equity interest should Africa Firm seek?

What additional capital will the business require before reaching sustainable positive cash flow?

What conditions must be satisfied before Africa Firm deploys capital?

Candidate Profile

The ideal candidate should have:

• Degree in Mining Engineering, Geology, Mineral Economics or related discipline.
• Preferably a Master’s degree or relevant professional qualification.
• 10–15+ years’ experience in mining, mine development, technical advisory or mining investment.
• Strong experience in open-pit mining.
• Experience with limestone, industrial minerals, quarrying or cement raw materials strongly preferred.
• Demonstrable experience conducting technical due diligence for investors, lenders or mining companies.
• Strong understanding of resource estimation, mine planning, production and processing.
• Ability to independently assess CAPEX and OPEX.
• Strong financial modelling and project-economics capability.
• Understanding of NPV, IRR, MOIC, project finance and mining-company valuation.
• Knowledge of Ghana’s mining regulatory environment is highly desirable.
• Ability to challenge promoters, consultants and management assumptions independently.
• Strong report-writing and Investment Committee presentation skills.

Independence

The successful candidate must disclose any current or previous relationship with the project owners, shareholders, advisers, contractors or potential offtakers.

The Adviser will owe their professional responsibility solely to Africa Firm for purposes of this assignment and must provide an objective and independent assessment irrespective of the investment outcome.

Definition of Success

The assignment will be successful when Africa Firm’s Investment Committee has sufficient independently verified information to make a disciplined decision on:

Whether to invest, how much to invest, the valuation at which to invest, the capital required to reach sustainable operations, the expected return on Africa Firm’s equity, and the conditions necessary to protect Africa Firm’s capital.

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