Benjamin Cox: Assessing the Aston Bay-Lyncorp International Deal
By Benjamin Cox
April 29, 2014
•1 min read
Benjamin examines the Memorandum of Understanding between Aston Bay Holdings and Lyncorp International to purchase drill equipment. Benjamin justifies the decision by explaining how we are currently at market bottom; right now, it is cheaper to buy a drill and the needed supplies than it is to rent-to-own. This helps with cost control and will allow for a more efficient drill program. Benjamin notes that he does not recommend every junior pursue a similar deal, but since Aston Bay has a director with previous drilling experience, it makes sense for the company. Lastly, Benjamin believes it is a good deal because the drills were obtained at a heavy discount and paid for with shares, allowing for less dilution than would have occurred if they were raising money through a private placement. This not only puts Aston Bay in a good position for when the market recovers, but allows for the copper junior to be turning drills next summer while other juniors can only make potentially-empty promises.
Benjamin Cox
Managing Director of Oreninc
Prior to founding Oreninc, Mr. Cox served as a senior analyst at the D.E. Shaw Group and as a consultant with the GLG Group, where he worked directly with 15 Wall Street teams in the mining deal space. Currently, he holds the position of Chief Executive Officer of Roche Bay plc, an iron ore mining company with leases in Nunavut, Canada. Mr. Cox is also the Chief Executive Officer and a Director of Aston Bay Holdings Ltd. (TSX-V:BAY), a copper and zinc company with properties in Nunavut, Canada. Mr. Cox has researched and developed business, financial, and shipping models for every major global iron ore project. He is also an expert on mining industry market dynamics and metals, with a focus on raw materials including base metals, iron ore, platinum group metals, and industrial materials such as potash and lithium. Mr. Cox holds a B.S. from Brandeis University and an M.B.A. in Finance from Portland State University.
Trending Now
1
2
Read Next
Thought Leaders
Introducing the NEW Equities News: Transforming the world by investing in what matters most
Paula DeLaurentis
Mar 15, 2024
Economic
An opportunity for women in the clean-energy transition
Green Money
Mar 12, 2024
Economic
Making diversity in venture-capital funding a priority
Yinka Faleti
Mar 11, 2024
Environment
E-bike incentives are a costly way to cut carbon emissions, but they also promote health
The Conversation
Mar 7, 2024
3 dividend-paying health-care stocks that top analysts recommend
Benzinga
Mar 7, 2024
Economic
The true cost of food is far higher than what you spend at the grocery checkout
The Conversation
Mar 6, 2024
The Latest
Thought Leaders
Introducing the NEW Equities News: Transforming the world by investing in what matters most
Mar 15, 2024
Economic
An opportunity for women in the clean-energy transition
Mar 12, 2024
Economic
Making diversity in venture-capital funding a priority
Mar 11, 2024
Environment
E-bike incentives are a costly way to cut carbon emissions, but they also promote health
Mar 7, 2024