That was down almost a third from the record set in 2009. Revenues from base and precious metals at the world’s ten largest investment banks fell for a third straight year hitting $1.2 billion in 2014, according to analysis from industry analytics firm Coalition. banks, which have retrenched from physical trading amid regulatory glare and tight margins. RK CAPITAL MANAGEMENT LLP: Active : Llp Designated Member : : CURRENT. Augusta’s cash reserves fell to 9.6 million before rescued by Red Kite’s 40 million loan Posted on Augby admin RK (Red Kite) Capital Management, a London-based copper hedge fund, is doubling-down on its stake in Augusta Resource Corp., giving the parent of Rosemont Copper Company a lifeline in the face of sharply declining. RED KITE CAPITAL MANAGEMENT LLP: Active : Llp Designated Member : : CURRENT. This person was born in December 1944, which was over 76 years ago. Still, many merchants are expanding to fill the gap left by the retreat of European and U.S. LORD MICHAEL FARMER is a Trader from London. The fund would also stand out as one of the few commodity fund launches in recent years after plunging oil, copper and grain prices forced the closure of some big names, including Hermes, Brevan Howard and Hall Commodities, last year. While the separation was amicable, two of the sources who know the men say the rivalry between Lewnowski and his former partners is strong.īefore Red Kite, he was head of corporate development at Varomet Ltd, which was formed to buy parts of Enron’s metals and mining assets. He split with Red Kite’s British co-founders, David Lilley and Mike Farmer, a year later. Lewnowski, a keen supporter of the New York Rangers ice hockey team, oversaw 10 projects worth $400 million in a three-year period til September 2012. Orion Mine Finance also has a stake in Scale, a metals warehousing firm shared with Macquarie Group Ltd. Its biggest deal was a $200 million financing of diamond explorer Stornoway Diamond Corp.Įarlier this year, Orion Merchant Services made its first foray into the lucrative and competitive business of merchanting metals, hiring veteran copper and zinc trader Joe Spiciarich to market the copper from Tschudi, the fund’s first base metals project to go into production. With $1.8 billion in assets under management at end-December, Orion Mine Finance has helped finance EMED Mining, which is reviving the historic Rio Tinto copper mine in Spain, and Weatherly International Plc, which has built the Tschudi copper operation in Namibia. Sheehan worked at Red Kite for nine years and has almost 25 years experience dealing in gold and silver. The size and timing of the fund were not known, nor was it clear what role he would assume there. Compare Standard and Premium Digital here.Īny changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel.Mike Sheehan, precious metals portfolio manager at Red Kite’s RK Capital Management, will join the yet-to-be-named fund when he leaves Red Kite at the end of July, two of the sources said. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many user’s needs. If you’d like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month.įor cost savings, you can change your plan at any time online in the “Settings & Account” section. For a full comparison of Standard and Premium Digital, click here.Ĭhange the plan you will roll onto at any time during your trial by visiting the “Settings & Account” section. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. Standard Digital includes access to a wealth of global news, analysis and expert opinion. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages.
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