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- Restarting of Historic California Metals Mine is voted America’s Top OZ Project
- Fund is raising $66 million though the Inyoag OZ Fund
NEW YORK–(BUSINESS WIRE)–July 22, 2021–
The restarting of the historic Darwin Mine was voted America’s Top OZ Project at the Denver CO OZ Conference on July 17th. This fund was one of 8 projects selected to present and was given the top prize by a panel of experts.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210722005287/en/
Jack Stone receiving the award for the top American Opportunity Zone Project. (Photo: Business Wire)
Jack Stone, owner & CEO of the Darwin Mines, says, “We were glad to be recognized as the most promising OZ project. Vast existing tunnels will allow us to quickly access the rich minerals and metals to produce income for investors and created much needed jobs for this community. The Zinc deposits are especially needed to offset the shrinking supply to the agriculture and animal feed space.”
This $330 million project is offering $66 million to investors through the Inyoag OZ Fund. Since existing mine shafts are already drilled into high grade quality Zinc and Silver beds, the start-up funds will immediately be used for new rail, ventilation, and processing mill upgrades. While most mines require ten+ years to begin operations, Darwin is expected to begin within six months of funding. The high current demand for the easily accessible Zinc, Silver and Copper from this first phase is expected to make this project profitable year one.
Wally Sullivan, CEO of Javelin Securities and sponsor of the Inyoag OZ Fund commented: “It’s critical that U.S. mines like Darwin come back online to keep pace with the Green Technology Revolution. This mine has 9 critical minerals with demand for these minerals expected to quadruple by 2040.”
This is the only independent mining project of its kind being offered within an Opportunity Zone. This property has enough known materials to last for the next 100+ years. With a backdrop of inflation and expected higher taxes, this project represents an opportunity to diversify into income producing hard assets and benefit from rebounding metals prices, all while enjoying the OZ tax benefits.
Javelin Securities is a FINRA registered broker dealer focused on vetting and raising capital for Qualified Opportunity Zone projects. For more information associated with our current projects please contact us at [email protected]
View source version on businesswire.com: https://www.businesswire.com/news/home/20210722005287/en/
Wally Sullivan 617.240.6020
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