Rivet is a specialised transport and logistics, contract mining, equipment hire and maintenance and aviation services business run by former Asciano Ltd managing director Rowsthorn and SMS Mining Services founding director Daniel Sweeney. Adaman is backed by Rivet and the Mitchell Group and has two gold projects in Western Australia. (Interestingly, Adaman went into voluntary administration on Monday),
Varde taking out the debt stack makes it possible to formally stitch the pair together. Rivet last fronted banks for funds in late 2019, when Deutsche Bank helped it secure a $150 million debt refinancing.
Where the latest deal could get really interesting is if Varde Partners tries to bring in another of its Australian investments; the f…
Read the full article at: https://www.afr.com/street-talk/varde-partners-bankrolls-mini-min-res-mining-services-gold-play-20210503-p57oat
