NAMF has a specific focus providing exploration, feasibility study or development and expansion capital to early to later stage junior exploration, mining and beneficiation activities (“Junior Mining”) in Africa, in resources such as base metals, platinum group metals, gold, coal and other bulk minerals such as iron, manganese and chromite.

A mineral resources project ranges from exploration to mine production. The diagram below illustrates, over time, the stages that a mining prospect will follow, if successful, before it comes into production. The diagram also shows a curve (commonly referred to as the value curve) representing the increased value as the various milestones are achieved. The NAMF focus area is predominantly from after discovery to feasibility study but may include the provision of development and expansion capital to Juniors Miners.

Early stage exploration which may lead to a new discovery is a high risk venture. The diagram below shows a fairly flat value curve up to the discovery and thereafter the curve steepens. Prior to discovery NAMF does not consider the risks to be commensurate with the rewards and accordingly, NAMF will only consider investment opportunities after the discovery stage.