The founding investors in NLRC include Newfoundland and Labrador based Altius Resources Inc. and distinguished European entrepreneurs with proven track records in both equity and debt finance arrangements for development projects. A summary description of the proponents follows.
Altius is a Newfoundland and Labrador based company that was founded in 1997 and is primarily focused on natural resource opportunities within Newfoundland and Labrador. It has a royalty interest in the Voisey's Bay nickel district, where metal concentrate production has recently commenced. Altius also has a collection of assets that include strategic equity stakes in two provincially focused companies in co-founded; Aurora Energy Inc. (TSX:AXU) and Rambler Metals and Mining Plc. (TSX-V:RAB). The Company has a strong treasury in excess of $100 million and a robust cash flow stream from the Voisey's Bay that enables it to move forward in pursuit of investment opportunities in the natural resource sector.
Dermot Desmond is the Chairman and founder of International Investment and Underwriting (IIU) based in Dublin, Ireland. This and other associated companies invest actively in a variety of businesses including those involved in the leisure, technology, food, mining and transportation industries. Before forming IIU he worked with Citibank and the Investment Bank of Ireland and formed NCB, which became Ireland's largest independent corporate finance house. Mr. Desmond spearheaded the International Financial Services Centre, which now has over 400 companies operating in Dublin's docklands.
Harry Dobson is a Scottish born entrepreneur and financier with extensive interests in the natural resources sector. He began his career in Australia and Canada and now pursues merchant banking and venture capital opportunities globally. He is actively involved with several companies that are exchange listed in Canada and/or the United Kingdom including Kirkland Lake Gold Inc., Rambler Metals and Mining plc and Borders and Southern Petroleum plc. Mr. Dobson also has extensive investment property holdings throughout Europe, most notably in Ireland.
Stephen Posford is based in Britain and his early career included several positions within the financial sector in that country, specializing in the Gilt-Edged market (UK and Irish government bonds). He was the head of Greenwell Montague Gilt Edged before joining Salomon Brothers in 1989 and was the CEO of Salomon Brothers European operations when he retired in 1996. He is active now as a private venture capitalist and a corporate director.