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Chairman’s Statement – Lusso Tesoro Secures Second Gold Mine 

The 79th GRP Limited Asset Management Company UK


I am delighted to share with you the fantastic news of our latest achievement. Lusso Tesoro Holdings Ltd. have now secured our second gold mine in West Africa, a hugely exciting step for both the company and our investors. 

Located in northeastern Guinea, across the Siguiri and Kouroussa districts, previous mining surveys have indicated gold resources in excess of $200 million USD. This is an outstanding figure, which has been estimated directly from samples and reports conducted by expert mining specialists SRK. 

The 79th GRP Limited Asset Management Company UK

We developed Lusso Tesoro to purchase distressed gold mines around the world, to create a high value return for our investors. The figures demonstrate the massive benefits of purchasing distressed assets at the right time – it’s why we do what we do. 

Myself and my sons have been in West Africa for 7 years now, setting up mining plants, mining and exporting gold. We have worked closely with the indigenous communities who work directly on the mine, sharing in our profits. Building these relationships in the country has given us a wealth of experience in the industry. It has placed us in the ideal position to capitalise on the local goodwill to build projects that help to raise the standards of living for our local partners. 

We are focussed on supporting humanitarian projects and giving back to the local community. Aiding in the development of local facilities such as schools and medical centres has been earmarked as part of our CSR strategy and sustainable mining ethos. 

The 79th GRP Limited Asset Management Company UK

To protect us, the company, and our investors during the transaction, alongside several layers of compliance, we partnered up with the top globally recognised law firms, who have a track record of excellence. Ernst & Young and expert mining lawyers FieldFisher, with offices in London and Paris, are ideally placed for working with our French speaking compatriots in Guinea. 

We have now re-engaged with our world renowned partners, the international mining and exploration specialists SRK Consulting and SRK Exploration, who are due to start our program on site just after Christmas 2020 and will be managing all sites as our partner. 

To acquire a project of this size during the economic crisis is a huge statement for the company and what we are going to achieve. The pandemic has revealed gold to be the most reliable asset during times of economic uncertainty. This commodity means safety and security to us, and we hope you see it the same way. 

For regular company updates and industry news, please follow us on social media. You can find us on LinkedIn, Facebook, Twitter and Instagram, where we’ve recently launched our brand new social series ‘79 Seconds’ very soon. 

I look forward to coming back to you soon with more good news on our next mining development. 

Kind regards,

Dave Webster 


Asset Management


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