Verny Capital Signs Agreement to Sell RG Gold

Whats Happening:

Verny Capital Group has signed an agreement to sell RG Gold, a gold mining company it has managed since 2014, to Zijin Gold International, a subsidiary of Zijin Mining Group Co. Ltd. Under Verny Capital's management, RG Gold has seen significant development, including the establishment of production infrastructure, modernization programs, and major investments in equipment and geological exploration.

Key Moves:

• Verny Capital signs agreement to sell RG Gold to Zijin Gold International

• RG Gold's resource base has tripled to 7.6 million ounces over the past 10 years

• A new $424 million gold processing plant was commissioned in 2022, significantly increasing production capacity

By The Numbers:

• RG Gold's resource base has reached 7.6 million ounces according to JORC standard

• Zijin Mining Group has a market capitalization of approximately USD 70 billion

• RG Gold has contributed more than 160 billion tenge to the state budget

Key Quotes:

• "We succeeded in implementing a unique project — transforming a small-scale operation into one of the country's leading gold producers," said Aidan Akanov, CEO of Verny Capital Group.

• "Our investment in RG Gold was our first project in Kazakhstan, and we are proud to have contributed to the successful growth of one of the country's leading production facilities," said Martin Valdes, Partner at RCF.

Bottom Line:

Verny Capital's successful development and sale of RG Gold demonstrates the fund's ability to create value in the mining sector. The transaction brings a major international player, Zijin Mining Group, into Kazakhstan's market, potentially leading to further investment and development in the country's mining industry.

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