CD Capital Natural Resources Fund II Monetization of Filo Mining Stake for C$158.3 Milion

LONDON, January 12, 2023–(BUSINESS WIRE)–CD Capital Natural Resources Fund III (“CD Capital”) successfully monetizes its equity investment in Filo Mining for a total consideration of C$158.3 million.

Filo Mining, a Canadian exploration and mining company, is focused in advancing the 100% owned Filo del Sol copper–gold-silver reserve located in Chile’s Region III. CD acquired a strategic stake in Filo Mining in 2020, allowing for an expansion of drilling to find deeper sulphide mineralization. Since then, the Filo del Sol project was described as an epithermal copper–gold-silver copper-silver-gold deposit with high-sulphidation and associated with large porphyry copper–gold systems that overlap with each other.

These remarkable mineralized copper and gold intercepts have been produced by this drilling over the last couple of years. Recent drill results include the announcement of a drill hole FSDH071 Interconnected 1,028.0m @ 1.16% CuEq At a depth 292m, you will find:172.0m @ 2.14% CuEq From 408.0m 237.5m @ 1.49% CuEq Continue this success starting at 776.0m

CD Capital was an early investor in financing the drilling at Filo. The market success has been seen not only by the markets, but also Filo Mining drawing investment from BHP. In May 2022, Filo Mining received a strategic investment of C$100 million.

CD Capital is proud that it was an early institutional investor alongside the Lundin Group to support and finance exploration and project development. The company’s drilling has been transformative and has placed it in a position for future growth. This is confirmation of CD Capital’s vision to support the leadership of Lundin Group as well as the Filo del Sol Project.

Founder & CEO of CD Capital, Carmel Daniele, noted the eventual monetization of the fund’s holding in Filo Mining, was part of the fund’s normal course of business and mandate terms, delivering a substantial multiple of invested capital since acquisition. CD is looking forward to the project’s growth into a major global producer of copper and gold. “CD Capital is proud that we were involved in one the most significant copper discoveries in decades. It has been a highlight of my career to witness it become a reality. It has been a truly spectacular investment for CD Capital Fund III’s investors and we are confident Filo’s journey to more success will continue. We are looking forward to the chance to partner up on world-class projects, led by top-tier management teams, such as Filo’s Lundin Group. This combination of long-term patient institutional capital with sector expertise will unlock value from exciting future project pipelines.

Adam Lundin is Chairman of Filo Mining’s board, commented, We are grateful for the support of CD Capital who believed in the vision of a Lundin Group entity during its early days. Filo del Sol has become a top-notch discovery because of our equity participation. I would also like to extend a special thanks to CD Capital’s Founder & CEO, Carmel Daniele, for her continued valuable contributions as a Board member of Filo Mining. It’s been an incredible journey, and we will continue to unlock even more value from this amazing asset. CD Capital investors will continue to benefit from our future and current ventures within the Lundin Group. We are looking forward to adding more value.”

About CD Capital Group

CD Capital, located in London, has launched three Private Equity funds. They have raised around US$1 Billion in long-term patient capital. The majority of these funds were funded by leading North American institutional investors including family offices, endowments and foundations as well as corporate pension funds. CD Capital creates world-class global projects in precious metals, critical minerals for greening the planet, and fertilisers for global food safety. CD Capital places a special emphasis on working with repeat managers who have a strong track record of developing successful projects in Latin America. These include Brazil, Peru, Argentina and Guatemala.

CD Capital was founded in 2006 by Ms Daniele, who was one of the first in London to set up a dedicated fund focused on private mining assets and winning the prestigious Mines & Money Fund Manager of the Year award in 2008. Ms. Daniele, who founded CD Capital in 2006, has established a top-notch investment technical team made up of industry insiders. She also sponsored and employed women studying mining geology at Imperial College in London. This led to a nomination for the 100 Women in Mining Award 2022.

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Contacts

Dominic Chapman
Chief Financial Officer
[email protected]
+44 (0) 207 389 1450

Carmel Daniele
Founder, CIO & CEO
[email protected]
+44 (0) 207 389 1450
www.cd-capital.com