were among those to successfully raise money for lithium projects and Mr Andrawes said other minerals linked to decarbonisation had also found favour.“More funds went into commodities like uranium, graphite, rare earth metals, cobalt and nickel which are either electric vehicle-related or instrumental to the renewable energy sector,” he said in his report.
“The demand for drilling services and equipment largely outweighed the available supply, leading to service providers being more selective with their contracts and raising the costs for their services,” he said. Mr Andrawes said BDO was starting to see increased demand for “independent expert reports”, which could be a sign the exploration sector was moving towards a consolidation phase with an increasing number of “change of control” transactions.