The CEO and major shareholder in Lions Bay Capital is Mr John Byrne. John has over 40 years experience as an analyst and operator in the mining sector. Prior to becoming the controlling shareholder and operator in Lions Bay, Mr Byrne founded and steered the development of Cambrian Mining Plc. Cambrian Mining was listed in London in 2002 with net assets of GBP£1.4 million and when it was acquired in 2008 net assets had grown to GBP£149 million.
The Cambrian strategy was to become directly involved and actively manage the companies and projects it invested in. The Lions Bay strategy differs in that it is not an operator and relies on a very small team and utilises professional consultants to identify opportunities and take minority interests in well run companies that can grow.
LBI is categorised as a listed investment company. But this is a category open to change.
Should the right transaction be presented , the board is open to focussing the business in one area.
LBI aims to identify opportunities which have not been recognised, either through lack of funds or failure of management in the execution of deals. LBI is different from other listed TSX mining companies in that it raises money to invest; not spend on high risk exploration or executive costs. LBI is an activist investor. It sets and monitors performance hurdles for management and the projects in which it invests. As an activist, LBI will replace management if necessary to drive change for the benefit of all shareholders.
LBI also conceives new projects and opportunities and provides seed capital. This creates a window for investors to participate in one of the most lucrative areas of the junior mining space. Most junior mining companies are run for the benefit of management who have had little or no experience or skills required for the development of a successful mining company. The hard reality is that over 85 per cent of listed junior mining companies fail. They return to the market again and again for capital which is often used to support lifestyles.