Elders Resources

  • Kevin Maloney was part of the senior management team that created Elders Resources (49% owned by Elders IXL) in June 1985.
  • Company went public in March 1985 through the reverse takeover of Mungana Mines (a gold exploration company).
  • The company had an initial market capitalisation of c. A$200m.
  • Elders Resources later transformed itself from a gold exploration and mining company into a diversified resources concern active in investment, operations and development.
  • In January 1986, Kevin Maloney was appointed the inaugural Chief Executive of Elders Resources Finance Limited – a subsidiary specialty natural resources merchant bank.
  • By 1987, Elders ranked among Australia’s top 50 companies with a market capitalisation of A$1bn.
  • In 1988, a reverse takeover of NZ Forest Products created a major trans-Tasman resources company with total assets of A$2.8bn and additional businesses in the forestry and pulp & paper industries.
  • By December 1989, Kevin Maloney had built the project-lending book to A$620m and financed projects totalling in excess of A$4bn.
  • By 1989, the market capitalisation grew to over NZ$2.2bn and, in 1990, Elders Resources had become one of the top 20 companies in Australia and the third-largest company in New Zealand.
  • From June 1986 to June 1989 original Elders Resources shareholders received a share price CAGR of 46.3%.
  • In 1990 in the aftermath of the failed management buyout of the parent holding company, Elders IXL, the company was acquired by Carter Holt Harvey, and Elders Resources Finance no longer had access to capital to fund its business.
  • At that time Kevin Maloney left to pursue other opportunities.