How Seventy Ninth Resources Transforms Overlooked Assets into Gold Mining Success
By Luke Holland
Seventy Ninth Resources, a leading natural resource asset management and development company, has been making waves in the mining industry with its transformative approach to overlooked assets. Specializing in the acquisition, management, and development of natural resource assets globally, the company has carved out a unique and advantageous position in the natural resources sector. Seventy Ninth Resources has demonstrated a hands-on approach in working with local communities, highlighting their dedication to community welfare. Committed to ethical practices, the company maintains a strong community-driven spirit, ensuring that their operations benefit the local residents in jurisdictions where they operate.
The Company has a diversified commodity portfolio, achieved through exploring high-demand, low-supply markets such as precious metals, diamonds and critical minerals. Their portfolio includes significant gold concessions in Canada and operations in West Africa. One jurisdiction Seventy Ninth Resources has shown remarkable potential is the Republic of Guinea, holding multiple project areas within the jurisdiction since 2011, prospective for gold and diamonds.
Through partnerships with renowned leading industry firms like SRK Exploration and Consulting and The MSA Group, the company has leveraged their expertise to aid in the development of these assets. Natalie Bellis, CEO of Seventy Ninth Resources, underscores the company’s longstanding commitment to ethical practices by integrating ESG policies into all aspects of their operations. Discussing their Guinea operations, Natalie explains how Guinea stands out for its untapped potential, “We’ve found not just minerals here, but a community eager to collaborate and grow. Their resilience and drive mirror our ethos of being creators of enduring value”.
Further elaborating on Seventy Ninth Resources’ success in Guinea, Bellis remarks how, the company’s accomplishments have been intrinsically linked to the local community, through making positive impacts by providing opportunities, support, and improved living conditions. This has helped the company establish trusted relationships and gain privileged access to land and resources. This approach has helped ensure Seventy Ninth Resources has its roots firmly embedded locally, creating a team that reflects the community’s spirit and driving the project forward. Bellis further reaffirms Seventy Ninth Resources’ dedication to nurturing local talent and creating developmental synergies, turning challenges into steppingstones for collective success.
Seventy Ninth Resources’ commitment to community support is exemplified by their ongoing assistance and support of the FOMBEK orphanage, with the company covering the annual costs for education, food, hygiene, and safety for its 44 young residents. Supplementary to this, the company’s in-country team has visited over 40 local communities to assess their needs and find ways to improve their daily lives. Bellis explains how Seventy Ninth Resources additionally have made donations to various smaller initiatives and are collaborating on larger projects, such as constructing a water tower and shelters.
In 2021, Seventy Ninth Resources emerged as one of the largest holders of natural resource concessions in West Africa, based on the number of concessions under development, exploration, and management. A major milestone for Seventy Ninth Resources is its recent partnership with First Class Metals (FCM) PLC,), a UK-listed metals exploration company significantly expanding its portfolio of natural resource assets. This partnership is instrumental in building a robust pipeline of data-verified assets and supports our proposed IPO later this year, Bellis explains.
Seventy Ninth Resources recently acquired the McKellar and Enable gold concessions from FCM, marking their first gold concession purchases in Canada. These concessions also include valuable base metals, such as zinc and copper. Partnering with companies like FCM allows Seventy Ninth Resources to create multiple value points for the business and aligns with their corporate vision of sustained growth and success. This strategic alliance enables Seventy Ninth Resources to broaden its footprint worldwide, highlighting the importance of this partnership in their expansion strategy.
The backbone of Seventy Ninth Resources is its team of seasoned professionals, made up of geologists, field consultants, ESG specialists, and strategic partners working in unison to ensure efficient exploration. The diverse expertise of the company’s board, featuring professionals from retail, finance, and international trade, brings a wide range of insights and skills.
Bellis highlights how the insights from their multi-disciplinary team, and an established in-country team, are crucial in identifying and developing Seventy Ninth Resources’ natural resource assets. “Our geologists locate promising formations and deposits, allowing us to target optimal areas for exploration. Our in-country team manages exploration activities, navigates logistical challenges, and ensures regulatory compliance. Meanwhile, our ESG specialists ensure our operations adhere to stringent ESG standards, conduct impact assessments, and help craft our sustainability strategy”.
The Company strives to create a lasting, positive impact through responsible mining practices. Seventy Ninth Resources’ commitment to ESG is deeply rooted in sustainable development, driving meaningful action through environmental projects, educational support, and community enrichment. “We integrate sustainability into our operations, ensuring it impacts every stakeholder positively and significantly improves the lives of local communities”, Bellis further underscores, “Our approach combines business acumen with ethical and environmental mindfulness. We proactively support water infrastructure projects and develop small local businesses. Each decision contributes to a larger picture of sustainable and ethical practices, reflecting our belief that good business and good actions are inseparable.”
Navigating the ever-changing natural resources landscape, faced with challenges of declining ore reserves and heightened production costs, Natalie Bellis explains how the company tackles industry issues with a vision focused on “sustainability and profitability with no wiggle room to waver on either. Smart procurement, technological advancements, and strategic diversification are key to our approach, ensuring we balance immediate operational needs with a commitment to sustainable future growth.”
Natalie Bellis, further highlights how “the company is weaving sustainability into our operational fabric, ensuring it’s not just a buzzword but a lived reality impacting every stakeholder positively”. Collaborating with local organizations, the company has launched numerous community outreach programs to address mining-related issues and enhance the well-being of local populations.
Looking to the future, Seventy Ninth Resources has plans to list on the Toronto Stock Exchange in 2024. This move will enhance the company’s visibility and provide greater access to capital and new growth opportunities. Bellis conveys how this move offers several potential strategic benefits. “Applying for listing will increase our visibility to clients interested in natural resources, positioning us more effectively to attract new sources of capital for our exploration efforts. Enhanced liquidity will facilitate capital raising through equity offerings and simplify trading for our clients. Additionally, bolstering our market credibility in the natural resources sector signals to stakeholders, clients, and partners that we are committed to adhering to stringent regulatory and governance standards”.
Key to this strategy is the company’s core value of unwavering commitment to environmental, social, and governance principles. This dedication to sustainability and ethical operations positions Seventy Ninth Resources as a significant player in the industry, attracting investors who prioritize ESG criteria. With the impending TSXV listing and planned financing, the company is well-positioned to enhance its portfolio, deliver sustainable returns, and contribute positively to the natural resources sector.