Confirmed-offtake receivables
Against investment-grade buyers — smelter LCs, refinery sales, listed-buyer contracts — discounted to verifiable shipment.
Beta now open
Credit for operators who actually move rock.
Cash-flow-first underwriting for permitted mining operators across the Philippines, Malaysia, and Indonesia. We sit through the cycle and structure facilities the way the operating reality behaves.
9 days
$250K – $25M
PH · MY · ID
Where mining gets stuck
Permitted operators across SEA can't get credit shaped to how mining actually works.
Traditional banks underwrite to balance-sheet aesthetics and real-estate collateral. Mining operators run on production cycles, equipment registers, and offtake contracts — and watch decisions take six months when the operating cycle moves in weeks. We sit through the cycle and structure facilities to verifiable production, not the published reserve.
What we underwrite
Senior secured against verifiable production.
We co-originate larger structured tickets with our institutional partners when a single-investor facility doesn't fit the risk. The four facility shapes below cover the bulk of mid-market mining working capital across the wedge jurisdictions.
Equipment-secured term
Haul fleet, concentrators, wash-plants, processing equipment. Perfected first-lien at the local registry; LTV indexed to operating life.
Permit & royalty bridge
Short-dated facility against an imminent payment event with documented timing. Sized to the actual gap, not the headline pipeline.
Working-capital revolver
Sized to the verifiable monthly production run-rate, not the published reserve. Re-priced quarterly off observed cash-flow, not balance-sheet aesthetics.
How an application moves
Four steps. Median nine business days.
Pre-qual call · 45 min
Facility need, operating context, timing. By the end of the call you know whether to keep going. No data room until both sides have an interest.
Data room + site visit
Production records, offtake contracts, permits, financials, equipment register. Operator-side underwriter visits the site for facilities above $1M.
Indicative term sheet
Median 9 business days from data-room complete. Pricing, structure, security package, covenants — non-binding but specific.
Definitive docs · drawdown
Local-counsel-led closing. Drawdown timed to the next operational cycle so capital is working from day one.
Ready to talk?
Forty-five minutes. No commitment.
We'll know whether the facility you're thinking about is in our box by the end of the first call.