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Sourcing Opportunity

Enabling high-growth business prospects

Vancouver, British Columbia, Canada



Pathway Capital Ltd. (Pathway), founded in 2004, is a Vancouver based privately held venture capital firm focused on value creation.

To date, companies supported by Pathway have raised billions in equity financing and have been involved in several billion dollars in M&A transactions.
Our team has decades of experience and expertise in corporate finance, securities law, capital raising, corporate re-organizations, and mergers and acquisitions. 



Pathway invests more than Capital. When we invest in a new opportunity, we commit ourselves to ensuring the success of all aspects of that business. As such, we take a comprehensive approach to launching and growing businesses by concentrating on three key areas:


Our founders know mining


 Working alongside world-class geologists and explorers, metallurgists and engineers, we complete extensive due diligence with the goal of identifying and pursuing only the very best opportunities.


Building a business is a lot like building a house – it has little chance of success if you don’t have the right tools in place.

Based on decades of industry experience, Pathway has developed a unique and extensive understanding of the components necessary to build a successful company.

We evaluate five key areas as part of our process: people, structure, asset, finance,

and strategy.


We believe that strong businesses are founded on strong relationships.


We’ve built an extensive network of industry partners that have supported the success of our companies through technical advice, financial support, or investment.

Portfolio examples

Equinox Gold



Pathway was instrumental in the foundation of the 3-way merger that led to the creation of Equinox Gold, a successful multi-asset mining company led by an industry veteran | More

Solaris Resources



Solaris Resources originated as a spinout of the copper assets of Equinox Gold in 2018 and has grown since this point to include a portfolio of gold and copper assets in the Americas | More

Sandstorm Gold Royalties



Pathway helped to establish and continues to advise Sandstorm Gold Royalties, one of the fastest growing royalty and streaming companies in the world | More

Sandbox Royalties Corp.


Pathway is excited to be a key part of the launch of Sandbox Royalties Corp., a diversified metals royalty company.  Backed by their largest shareholders, Sandstorm Gold Royalties and Equinox Gold Corp, Sandbox has direct access to technical and financial expertise and unparalleled deal flow | More

Horizon Copper Corp.


Pathway supported Sandstorm through the formation of Horizon Copper Corp and is a key shareholder. Horizon is a copper company spun out from Sandstorm and which has a direct interest in three unparalleled, world-class copper assets | More

Blue Dot Corp.


Blue Dot is a streaming finance company which provides upfront capital to carbon credit project developers in exchange for a share of the credits produced from their projects; in doing so the company aims to contribute to 11 of the UN’s 17 Sustainable Development Goals | More

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Copper Standard



Copper Standard is a resource-stage mining company with a focus on precious metals. The Company has an option to acquire 100% of the Colpayoc Property, located in the Department of Cajamarca of northern Peru. The Company intends to grow through acquisition of other mineral properties | More

Sunpeak Metals Corp.



Sunpeak Metals is an exploration and development company focused within the highly prospective Arabian Nubian Shield in Ethiopia | More

Peru Copper


Pathway principals were actively involved in the formation and development of Peru Copper and its 100%-owned Toromocho Copper Project until 2007, when Peru Copper was sold to Chinalco for $860 million | More

Public Markets

Pathway understands how to make the transaction from a private company to a public company, in any industry. Whether on the Toronto Venture Exchange (TSX-V) or the Canadian Stock Exchange (CSE), Pathway can facilitate a successful deal. A Pathway created vehicle offers the following.

Public Markets


Graduating from a private company to a public company is a challenge. In order to successfully navigate going public, a company needs to have the right team in place. From the board of directors, to management and support staff, understanding who is needed to support the organization is key. 

Pathway understands how to put together and advise on the composition of board of directors, management and support staff, helping enable  success.


Navigating public company regulatory requirements can be overwhelming for a company. From filing audited financial statements to holding your Annual General Meeting, the reporting process can be complex.

The team at Pathway has a detailed understanding of public company reporting requirements and can guide a private company through such requirements; helping make the transition of becoming a public company as seamless as possible.


Pathway has taken numerous companies public since its inception in 2004. This experience allows the principals of Pathway to aid a smooth and efficient transaction to take a private company into public markets.

When and how to raise money  is critical to the success of a public company. Pathway has extensive experience with these aspects of a transaction and can avail companies of this experience. 


Meet the Team





Andrew Swarthout is currently the Executive Chairman of Bear Creek Mining Corp., a multi-asset silver company based in Peru, and has a wide range of experience in financing, evaluating, exploring, permitting and completing studies on resource projects. He has helped raise over US$250 million in equity financing for Bear Creek. Under his management, the company has discovered two world-class silver deposits with combined reserves in excess of 450 million ounces, making Bear Creek Mining a leading emerging silver producer.


Andrew has been responsible for a number of discoveries, including two major porphyry copper discoveries as Vice President of Exploration for Southern Peru Copper Corporation. Andrew graduated from the University of Arizona with a Bachelor of Geosciences degree and he is a Professional Geologist.


Andrew is also currently a director of Sandstorm Gold Royalties and Chairman and a director of Level 14 Ventures.




Mr. Blair has over 35 years of experience directly related to the exploration for and the discovery of porphyry copper and molybdenum deposits.  Mr. Blair has been a consulting economic geologist since 1999, prior to which he was Chief Geologist for Cyprus Amax Inc., Chief Geologist for Coeur d'Alene Mines, and Geology Superintendent at the Coeur Rochester Mine.


Mr. Blair was one of three geologists directly responsible for the discovery of the world-class Henderson molybdenum mine at Red Mountain, Empire, Colorado during his time with Climax Molybdenum.


Mr. Blair received a Bachelor of Science (BSc) in Geology/Earth Science from Dartmouth College in 1958 and a Masters degree (MSc) in Geology/Earth Science from the University of Michigan in 1960.



With 75 years of industry experience and over fifteen world-class discoveries to his credit, including Escondida, the world’s largest copper mine, Pierina, Zaldivar, Kalamazoo, and Toromocho, J. David Lowell is regarded as one of the world’s greatest explorers.

Mr. Lowell authored over 50 scientific articles and, in 1970, Mr. Lowell co-authored the Lowell-Gilbert Porphyry Copper Model, revolutionizing the understanding of and exploration for porphyry copper deposits. The Lowell-Gilbert Porphyry Copper Model remains the leading model for porphyry copper exploration, and continues to be used throughout both academia and industry.

Mr. Lowell participated in nine major prefeasibility or bankable feasibility studies, and was the Chairman and Founder of three companies including Arequipa Resources, Peru Copper and Lowell Copper (now Equinox Gold).

Mr. Lowell was inducted into the Mining Foundation of the Southwest in 2002 and the American Mining Hall of Fame in 2012, and was the recipient of over thirty professional awards. 

Mr. Lowell received a Bachelor of Science (BSc) in Mining Engineering from the University of Arizona in 1949 and a Masters degree (MSc) in Geology from Stanford University in 1957. He also received a Professional Engineer degree from the University of Arizona in 1959 and honorary degrees from both the Universidad Nacional de San Marcos in Peru in 1998 and the University of Arizona in 2000.

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