AN ASPIRING manganese miner, Bracken International Mining, struck an "equity line financing" deal with Alvin Donovan. However, according to its chief executive, Luke Bracken, Donovan took a fee and said "raise the money yourself".
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Early last year, Bracken was approached by Donovan's (now former) agent, Kim Cox, with the proposition that Donovan's company, Equity Partners Fund, would take Bracken public in a float on the Frankfurt Stock Exchange and raise 200 million. "The 200 million was to be raised from Alvin Donovan's 'network of 55,000 investors', ' Bracken says.
Donovan has denied to The Sun-Herald that he made any such claims: "Equity Partners Fund SPC is a segregated portfolio company set up under the laws of the Cayman Islands. We have no outside investors and we do not provide upfront funding to companies, " he said.
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