Resources are Australia’s primary export. While the mining boom has begun to wind down, mineral production will take off as exploration subsides.
Many WA-based investment banks have been fuelling the industry by providing investment. Though some, according to an article in The Australian, are looking for new opportunities.
From the article, here is why Azure Capital investment banker John Poynton thinks the same investors who were into mining are now turning to biotech:
“Biotech is a bit like drilling an oil well or a goldmine.
“There’s still plenty of risk — it’s high stakes.
“So with exploration plays so dead, it makes sense here in Perth, which I think has the potential to lead the way in capital market support of the biotech sector.”
There’s more here.