New company to focus on investment in and acquisition of precious metal mining projects, primarily in North America
DENVER, March 17, 2014 /PRNewswire/ — Centurion Resource Group (CRG), a private equity fund management company focused on the global mining sector, announced today the formation of a strategic joint venture to invest in and acquire interests in precious metal mining projects, principally in North America. The new company, to be known as Centurion Consolidated Mining, will be a JV between Centurion and Bullion King Mining LLC, a company co-founded by Arden 'Buck' Morrow and Michael F. McGinnis.
Mr. Morrow is a well-known mining professional who has been instrumental in developing successful mining projects and companies over the past 30 years. As president of Western States Minerals Corporation he brought into production some of Nevada's most significant gold deposits including Barrick's Goldstrike mine.
Mr. McGinnis has over 28 years of experience in the exploration and mining industry. He was a member of the discovery teams at Donlin Creek, Alaska and Campo Morado, Mexico. Mr. McGinnis is a Certified Professional Geologist with AIPG and licensed geologist in the state of Alaska.
Centurion's cornerstone commitment of $25 million has been matched by a further $25 million from an institutional client of the firm.
David Linsley, Managing Director and Portfolio Manager said, "We are delighted to have secured the involvement of Buck and Michael in our strategy of consolidating junior precious metals projects. The Centurion Group has identified several high-quality projects which require not only financial support but strong management expertise. This joint venture strengthens our growing portfolio considerably."
Richard Waryn, Managing Director and Investment Committee Member added, "this joint venture fits perfectly with our Fund's overall investment objectives of focusing on diversified, permitted, pre-cash flowing assets".
ABOUT CENTURION RESOURCE GROUP: CRG is an international private equity fund management group with expertise in natural resources sector. The partners in CRG collectively have over 100 years of professional experience in private equity and mining investments. CRG has offices in Denver, Colorado and Almaty, Kazakhstan.
Contact:
Richard Waryn / David Linsley
CENTURION RESOURCE GROUP
Tel: +1 303 409 7754
Email