Verny Capital Sells RG Gold in Major Deal with Zijin Gold International

Verny Capital has signed an agreement to sell RG Gold, a Kazakhstani gold mining company they have managed since 2014, to Zijin Gold International, a subsidiary of the Zijin Mining Group Co. Ltd. Over their tenure, Verny Capital significantly developed RG Gold's resources, tripling its reserves to 7.6 million ounces under the JORC standard and increasing production capacity through high-tech enhancements. The strategic partnership with Resource Capital Funds (RCF) since 2018 facilitated infrastructure development and operational efficiency. Zijin Mining Group, one of the world's largest mining conglomerates, views this acquisition as a strategic entry into Kazakhstan, aiming to contribute to the country's economic development through sustainable practices. Investment banks J.P. Morgan Securities plc and BMO Capital Markets, along with the law firm Herbert Smith Freehills, advised Verny Capital and RCF on the transaction. RG Gold has been pivotal in economic and social contributions in Kazakhstan, becoming a major taxpayer, generating employment, and supporting local communities through various initiatives. This exit aligns with Verny Capital's business model of developing assets and divesting under favorable market conditions.