A unique partnership opportunity
The global demand for natural resources, minerals and precious metals has never been greater. Seventy Ninth Global DMCC is a direct equity offering that gives partners the opportunity to participate in the exceptional growth opportunities presented by West Africa’s natural resources.
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The partnership opportunity
At Seventy Ninth Group, our aim is to unlock the potential of the Republic of Guinea, a country rich with natural resources, minerals and metals – including bauxite, iron ore, gold and diamonds.
We have been operating in Guinea since 2011, and we use our decades of experience gained within the real estate industry to turn undervalued assets into commercial opportunities.
Seventy Ninth Resources has completed the third phase of exploration on three of its gold-mining concessions located in Guinea. After achieving substantially positive initial results, we are now moving to the drilling stage. Our objective is to raise capital through Seventy Ninth Global DMCC, and give equity partners a stake in the future value of these concessions.
This partnership approach leverages the experience and on-the-ground resources of the Seventy Ninth Group, as well as the input from appointed representatives including SRK Exploration Services.
The Advantages of a DMCC Structure
Seventy Ninth Global DMCC is a private equity offering registered in 2022 with the Dubai Multi Commodities Centre (DMCC) in the United Arab Emirates (UAE). The DMCC is the global centre of commodities investing, serving as a commodities exchange for more than 21,000 registered members.
The Advantages of a DMCC Structure
The Dubai government offers several tax incentives for partners in DMCC-listed companies. These include:
- 0% tax rate on dividends and capital gains.
- 50% reduction in tax on repatriation of profits.
- No exchange controls and no restrictions on repatriation of capital and profits abroad.
Additionally, DMCC-listed companies are eligible for certain exemptions from customs duties and value added tax.
The UAE has signed a multilateral tax treaty with West African countries to promote trade between the two regions. Under the treaty, businesses will benefit from lower taxes on profits and dividends earned from partnerships in both regions.
Partnership Objectives
The partnership objective is to raise capital to take Seventy Ninth Resources through the drilling stages onto the confirmed resources stage and develop the three concessions at the Lusso North, Lusso South and Mandiana sites.
The offering is open to all partners interested in leveraging the pivotal stage of concession exploration following substantially positive results in the key initial phases.
The aim is to source strategic partnerships that will support the expedited extraction process of our operational concessions.
Confirmed exit routes and potential joint ventures with established mining companies will allow for full extraction of the commodity and, ultimately, a company listing.
Our Strategic Partners
Our years of experience in the natural resources sector mean we understand the importance of abiding by all applicable industry regulations and codes across every jurisdiction we operate in.
To achieve this, we work with several highly trusted and highly accredited international firms, including SRK Exploration, Ernst & Young, Fieldfisher LLP and Ardalan & Associates. These firms oversee our operations and ensure the highest compliance standards are adhered to.
By working alongside a strong group of strategic partners, we are building an entrepreneurial gold mining business, rewriting the resource extraction playbook, and accelerating the process from targeting mineral-rich assets to drilling, resource validation and exit.
