David joined De Beers in 1995 as a mining engineer after completing his BSc Mining Engineering degree at Wits University, and progressed through the ranks in various production and line management positions until 2000.

In 2001, David joined Standard Bank’s Credit Division for one and a half years, before moving to the Corporate Finance Division where he was involved in a number of resources related corporate finance transactions. His clients have included De Beers, Xstrata, the Government of the Republic of South Africa, Anglo Platinum, Incwala Resources, Wesizwe Platinum and Western Areas.

In 2007, David left Standard Bank to join QuestCo, an independent corporate finance advisory company.

A selection of the transactions David has been involved in during his career is set out below:

STRATEGIC ADVISORY WORK

• Western Areas Limited (2006/7):
• during the cash flow crisis brought about by the shaft accident, underground fire and underwater hedge book
• on the implications of the sale by Barrick Gold Corporation of its 50% interest in the South Deep Joint Venture
• on the takeover by Gold Fields Limited

INDEPENDENT EXPERT’S OPINIONS

• Incwala Resources Limited in respect of the purchase of an interest in Southern Platinum from Lonmin plc (2005)
• The Government of the Republic of South Africa and the Richtersveld Community providing an independent valuation of the mining assets of Alexkor Limited (2004/5)

DISPOSAL PROCESSES

• De Beers with regard to the disposal of certain South African mining assets, including Cullinan Diamond Mine and the Kimberley Underground Mines (2006/7)
• Anglo Platinum Limited in relation to the Rooderand and Elandsfontein select tender processes (2003/4)

BLACK ECONOMIC EMPOWERMENT TRANSACTIONS

• Xstrata Coal South Africa with regard to the establishment of ARM Coal, a black-controlled mining company holding an effective 29% interest in Xstrata Coal South Africa’s mining business, a transaction valued at R2.4bn (2005/6)

CAPITAL RAISING AND STRUCTURING

• The rights offer and private placement for South African Coal Mining Holdings of R107 million (2008)
• Internal adviser to Standard Bank’s Acquisition Finance team relating to the R3.7bn preference share facility provided to the Ponahalo Consortium for the acquisition of 26% of De Beers Consolidated Mines Limited (2006)
• Mercantile Lisbon Bank Holdings in relation to a R555m rights offer (2004)

LISTINGS

• Listing and strategic adviser to Wesizwe Platinum Limited (2005)