Darwin Metals Mining Opportunity Zone Fund
Darwin Metals Mining OZ Fund (Legal Name: InyoAg OZ Funding LLC) is raising $66 million in capital via Series A Units (limited to accredited investors with capital gains) and Series B units (accredited investors only). Series A shares are offered under the Opportunity Zone program and have the potential for significant tax benefits. Upon completion of the capital raise, the Fund will own 22% of Inyoag LLC which is the business that will be operating the Darwin Mine.
Darwin is located in Inyo County, California. This Fund has been open since 2021 and is expected to remain open until all capital is raised or if they are able to self-fund all future expansion.
Unlike many larger mines, Darwin is a polymetallic mine. Rather than focus on one single ore (i.e., copper, gold, lithium), Darwin mines ore that is separated into many different metals and minerals using a hydrometallurgical process on site. Darwin has inferred and indicated deposits of many base metals and critical minerals which are described on the USGS website . Darwin has been mothballed since 1976 although a portion of the infrastructure was preserved and able to be utilized in its reopening including ~150 miles of underground tunnels and rails. Darwin management believe they will be opening in optimal market conditions including:
Critical minerals demand in renewable energies
Global trade restrictions on natural resources
Push for responsible mining
The Fund is more akin to an equity investment as there is no management fees or management carry. The proceeds from the capital raise will be used for mine startup expenses, equipment, working capital and expansion of the mine. The capital that is raised is immediately put to work in an effort to the get mine operational as soon as possible, thus not in escrow.
Jack Stone, CEO
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