The Webster family, owners of asset management firm the Seventy Ninth Group, has today launched Seventy Ninth Global DMCC, for partners focused on the natural resources sector.
Seventy Ninth Global DMCC, is a private equity offering, available to partners who have an understanding of, and interest in, the commodities world, and who are seeking to grow their portfolios within the natural resources sector.
The launch comes after the owners of Seventy Ninth Resources, a sub-division of the Seventy Ninth Group, made the strategic decision to place their commodities offering in the UAE, specifically within the Dubai Multi Commodities Centre (DMCC). The DMCC is a dedicated centre for more than 21,000 global business from a wide range of industries and sectors, specialising in commodities.
The offering is designed to offer partners tax efficiency and an exit route, with the Webster family offering first refusal on any shares a shareholder may wish to sell after the initial 24-month minimum term.
David Webster, Chairman, comments, “At Seventy Ninth Resources, we have now completed the third phase of exploration on three of our gold concessions in the Republic of Guinea at the Lusso North, Lusso South and Mandiana sites. We are looking to raise capital to fund the move to the next stage of drilling, driving value as we continue towards the proven mineral reserves stage.
“As such, we are now offering the opportunity to become part of the Seventy Ninth Resources journey and share in its growth.
“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 as a result 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. What’s more, partners can be confident of working with a family business, operating with family values.”
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 resources 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.
