By Jason Wilkinson and Wandisile Mandlana, Partners, Adéle de Jager, Executive: Tax, and Ivan Vorster, Senior Associate, Bowmans South Africa

Mining is notoriously cyclical, with dramatic swings in equity prices and investment patterns. The low commodity prices and weak equity markets of recent years have made it difficult for (in particular) junior and exploratory mining companies to secure financing at the levels required to meet their growth-driven financing requirements.<...