Introduction

As Frank Lloyd Wright has been famously quoted; “Talent is good, practice is better; passion is best”.

The board and management of Rebel Resources PLC (“the Company”), are a unique team of talented professionals, with meaningful expertise throughout the Natural Resources Sector (“NRS”), who individually and collectively have proven time and again; their passionate pursuit of operational excellence and wealth creation.

The upstream segment of the international petroleum industry, and the mining industry across the globe, are both undergoing massive changes; in form and function.

Advancement of technology, climate change initiatives, geopolitical tensions, recalibration of post-WWII security architecture, and the transitioning global economic construct; are the critical forces that are positively and negatively affecting the manner in which, the NRS is responding to allocation of capital and labour and thus supply of hydrocarbons, metals, and minerals (“commodities”).

Clearly, the world population growth is continuing unabated, and whether sluggishly in some parts or robustly in others; the global economy is growing, underpinned by aforesaid growth in population. Accordingly, although there is a perception that commodities are bountiful and readily available, and despite the fact that a few commodities are impacted by partial demand destruction or substitution; nevertheless, nearly all commodities are experiencing demand growth, either in absolute or relative terms.

Given the foregoing background, the Company intends to gain exposure to those trends within the NRS, which have the highest probability of achieving superior returns on equity.

Oil & Gas E&P

In spite of the negative sentiment that has prevailed in the oil market during the past decade, the industry’s outlook today, is better than it was ten years ago.

The reserve replacement ratio for oil globally, has declined from approximately 58% in the year 2000 to less than 8% in 2016. Excluding North America, spare production capacity worldwide has declined to the lowest level since 1970. In the mid 1980s, the spare production capacity was about 25% of the then consumption worldwide. In contrast; the spare capacity in 2017, stood at a meagre 2% of present consumption. The decimated oil replacement ratio, combined with essentially no spare production capacity, means an utterly soaring oil price is on the horizon.

Natural gas is benefiting from the global warming policies, and displacing coal at the fastest rate ever, for electricity power generation. Considering the Electric Vehicle revolution, the demand for electricity is expected to surge (the EV batteries need to be charged or re-charged daily), and therefore; long term demand dynamics for natural gas (and LNG) are anything but brilliant.

The Company has made a strategic decision to focus on the region that surrounds the Mediterranean Sea; as its geographical footprint for exploration, development, and production of hydrocarbons. Obviously, a few countries within said region, are unfortunately subject of civil unrest and/or suffering from unstable governments; however by and large, the region remains attractive. In addition, given the region’s proximity to Europe, it enjoys the advantage of satisfying in part, the European Union’s energy security needs.

Mining

Within the mining industry, the Company does not intend to pursue a geographically constrained investment or acquisition strategy, and instead; it shall be commodity focused.

The Company believes in an opportunistic approach towards (in alphabetical order); Cobalt, Gold, Nickel, and PGE.

As an example of the Company’s investment methodology, the following supports our rationale in respect of Cobalt:

  • Only 3% of the global Cobalt production, is of Primary source (i.e. Cobalt as the primary or economic mineral). The remaining 97% of Cobalt supplies, are the by-product from Copper and Nickel mining operations.
  • 1 country (D. R. of Congo) controls 49% of global reserves of Cobalt.
  • 1 country (D. R. of Congo) controls 56% of global supply of mined
  • 1 country (China) controls 52% of global supply of refined
  • 1 company (Glencore) controls 26% of global mined Cobalt.
  • 1 Copper mine in the world, was responsible for 68% of Cobalt that was mined globally in 2016 (Mutanda – DR of Congo – Glencore).
  • Numerous attempts in a variety of countries, to find substitutes in whole or in part, for different uses of Cobalt; have to date, failed.

The key attributes that the Company shall be seeking in its selection process for the targeted commodities are (in the order of importance); grade, size, accessibility, infrastructure, and sovereign risk.

Board & Management

James C. Passin – Non-Executive Chairman

Mr. Passin is the Co-Founder and Manager of Firebird Management LLC, which manages ten funds dedicated to equity investment in emerging markets, with an emphasis on the former Soviet Union, emerging Eastern Europe, and exotic sectors worldwide.  James has raised over US$1 billion in subscriptions from investors.

James in the Founder and Executive Chairman of Aduro Diamonds Pty Ltd which is developing the Copeton and Bingara diamond deposits. James currently serves as the Executive Chairman of Blockchain Holdings Ltd, and is a Non-Executive Director of BDSec JSC and Berkh Uul JSC.

James received his B.A., Philosophy and Classical Literature from St. John’s College and is a Chartered Market Technician.  He was awarded the Nairamdal Odon (“Friendship Medal”), Mongolian state (the “Friendship Medal” is one of the highest honors awarded by the Mongolian state to foreign citizens).

Joseph Naemi – Director & CEO

Mr. Naemi is the Founder of Ninox Capital, who has 28 years of experience within the natural resources sector worldwide. He has previously served on the board of publicly listed companies in Australia, Canada, and Mongolia, and currently serves on the board of a diversified range of international privately held companies. Joseph has been the Founder of several oil and gas E&P companies and mining entities; exiting through trade sales and M&A activities.

Ninox Capital routinely advises on transactions within the petroleum and mining industries, as well as advising SOEs in emerging and frontier markets on debt capital market products.

He holds a certificate in Global Investment Risk Management from Saiid Business School of the Oxford University in the U.K., as well as a certificate in Corporate Governance from the Mongolian Corporate Governance Institute. Joseph’s professional memberships include the International Association for Energy Economics in Cleveland, Ohio, USA and the Petroleum Exploration Society of Australia.

Ryan Moynagh – Director & CFO

Mr. Moynagh has 20 years professional experience in the oil & gas sector, with extensive experience in corporate finance & business development.

Ryan is a former investment banker in Merrill Lynch’s Energy & Power Group and was based in both London and Singapore. In this role he was involved in facilitating the entry of China’s three major oil companies onto the public markets. Ryan was advisor to the Boards and Senior Management of both Pertamina and PetroleumBRUNEI.

Ryan is the Founder of Equatorial Partners, a boutique advisory firm to the natural resources industry; former Finance Director for Valiant International Petroleum (Brunei onshore exploration) and former Co-Founder and Chief Financial Officer of Great Bear Petroleum (Alaska North Slope exploration).

Ryan has a joint Degree in Law & Accounting from Queen’s University. Mr. Moynagh also earned the designation of Certified Financial Analyst from the CFA Institute and the designation of Licensed International Financial Analyst from the International Research Association.

Dr. Ian J. Pringle – Non-Executive Director

Dr Pringle is a mining Geologist with more than 35 years of successful mineral exploration, mining company start-ups, and mine development experience. He has served on numerous boards and also operates a geological consulting practice.

Ian is currently the Technical Director of Battery Mineral Resources Limited and manages exploration and development of cobalt and lithium projects in North America and a graphite project in South Korea. He is also a Director of Resource Capital Gold Corp that is developing a high-grade gold mine in Nova Scotia.

His previous roles include Managing Director of ASX listed Broken Hill Prospecting and Geopacific Resources, and Non-Executive Director of New Talisman Gold Mines. Dr Pringle has worked on numerous mineral exploration programmes that have resulted in successful mineral discoveries and mine developments; including:

  • Lerokis Au-Cu-Ag deposit, Indonesia
  • Girilambone copper deposit, NSW, Australia
  • Bowdens Silver Deposit, NSW
  • Skouriotissa Cu mine, Republic of Cyprus
  • Sepon Cu, Au deposits, Laos
  • Thackaringa Co deposits, NSW
  • North Copi and Magic Ti-Zr deposits, NSW

Dr Pringle earned a PhD in 1981, from the University of Otago in New Zealand.

Michael C. P. Rego – Non-Executive Director

Mr. Rego holds a B.Sc. (Hons.) in Geology from the University College Swansea in the UK, and is a Fellow of the UK Geological Society, a member of the Petroleum Exploration Society of Great Britain, and a past committee member of the City of London Geoscience Forum.

Michael began his professional career in 1981 with SSL in Libya as a seismologist before joining BP in London as a geophysicist in the Far East Regional Appraisal Group, followed by postings in the USA and Egypt, and returning to the West Africa Regional Appraisal Group in London. In 1991, he joined LASMO as a Senior Geophysicist and gained international exposure, including Sub-Saharan Africa, Iraq, Iran, and Russia. From 1998 to March 2014, Mr. Rego was Director of Exploration and Development at Aminex PLC and was responsible for the company’s 1.2-TCF Ntorya natural gas discovery onshore Tanzania in 2012. Since 2017, he has been the Managing Director of Triton Petroleum Pte. Ltd.

Contact

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