David Webster

Member Article

Gold mining firm to offer regulated investments

Gold mining and property business, The 79th Group, is moving to offer its backers regulated investment opportunities.

The UK headquartered operation, which has agreements to purchase several, verified working mines in the Siguiri region of Guinea, is working closely with experienced regulated advisors to form a Gibraltar Private Fund.

The aim is to offer a fixed, above market rate return in an equity offering, from early May. Investors who wish to be involved in the gold mining project will be able to do so through a body recognised by the Gibraltar Financial Services Commission, which regulates to both UK and EU standards.

The group’s gold mining division – Lusso Tesoro - engaged world leading mineral, exploration and mining consultants, SRK, to advise on the purchase of the mining concessions. With the Covid-19 pandemic and economic uncertainty increasing demand for gold, the deals are designed to provide security for investors and a reliable safety net through which to protect assets.

Anticipating potential economic turmoil, Chairman, David Webster and his sons, Jake and Curtis, have gained extensive experience in mining, buying, selling and exporting gold for third parties.

They have invested time and money making sure all the correct permits, commercial and political backing are in place to be in the best possible position to take advantage of the buoyant gold market at a time of increasing demand and limited supply.

“We have provided all the pump priming funding and purchase deposit ourselves and now we are in a position to offer opportunities to high net worth individuals to be part of this exciting initiative and share in the returns,” says Webster.

“We have chosen Gibraltar because it benefits from a tight regulatory framework in a user friendly English law based professional environment. We will ensure the fund remains fully compliant and operated at the highest level of corporate governance, to safeguard investors as much as possible.”

An accredited and experienced board, with a wide range of regulatory experience, will oversee operations. This includes former senior HMRC tax expert, Andy Cole, CBE, who recently joined as a non executive director.

This first fund offering is the starting point of The 79th Group’s transition into the fully regulated sector, with the establishment of an Experienced Investor Fund and potentially, a future full stock market listing.

With its headquarters in the North West of England (Southport) The 79th Group also operates a UK property portfolio, valued at £25 million, through subsidiary companies 79th Luxury Living and 79th Homes.

This was posted in Bdaily's Members' News section by Paul Dobbie .

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