Webster family launches private equity offering for the natural minerals sector – News
The Webster family, team behind Seventy Ninth Group and Seventy Ninth Resources has launched a new private equity offering for partners focused on the natural resources sector
The asset management business, headquartered in the UK and with a team at The Jumeirah Lake Towers within the Dubai Multi Commodities Centre (DMCC), has launched ‘Seventy Ninth Global DMCC’ for partners in the region who are seeking to grow their portfolios within the natural resources sector.
The vehicle is designed to offer investment partners tax efficiency and an exit route with the Webster family offering the first refusal on any shares a shareholder may wish to sell after the initial 24-month minimum term.
The goal of the Seventy Ninth Global DMCC is to fund the next phase of exploration on three of the firm’s gold concessions in the Republic of Guinea; raising capital to fund the next stage of drilling, driving value as the Resources team continues towards the proven mineral reserves stage.
David Webster, chairman, comments: “Through the launch of Seventy Ninth Global DMCC, we are offering partners from across the region the opportunity to become part of the Seventy Ninth Resources journey and share in its growth.”
Antony Benham and Bill Kellaway of SRK Exploration with Dave Webster, Chairman of the Seventy Ninth Group.
He adds: “Few commodities have exerted such a strong fascination over such a long period of human history as gold. None, certainly, have played such a varied and essential role in commercial activity. Gold continues to have significant value because of its capacity to store value over time better than many alternatives, making it highly regarded as a hedge against inflation and the decline of the US dollar.”
“Gold has long been seen as a vital diversification tool for partners looking to safeguard their portfolios in turbulent times. And such an approach has been more than justified by gold’s performance throughout historic crises.”
He concludes, “Although an independent proposition, Seventy Ninth Global DMCC is backed by the vast experience and resources of the wider Webster family portfolio of companies. We are a growing, international business, but we continue to operate with family values and exemplary client service.”
David, Jake and Curtis Webster visiting Republic of Guinea as part of their concessions exploration.
Seventy Ninth Resources, a brand of the Seventy Ninth Group, is one of the fastest-growing natural resource owners in West Africa. The range of Seventy Ninth Resources’ assets consists of multiple resource concessions, including gold, bauxite, iron ore, diamond and cocoa. The majority of the company’s concessions are situated within the Siguiri Basin, a mineral-rich area located in the Republic of Guinea.
The Webster family is trusted by over one thousand private and institutional partners from over twenty-five jurisdictions who see the Seventy Ninth Group as a cornerstone of their investment portfolio.
For more information on Seventy Ninth Global DMCC, visit: www.79thglobaldmcc.ae