SCHEDULE: Resource Capital Funds Disclose 6.2% Stake in Blue Gold Limited

A group of Resource Capital Funds entities, including RCF VII Sponsor LLC, Resource Capital Fund VII L.P., Resource Capital Associates VII L.P., and RCFM GP L.L.C., have jointly disclosed a beneficial ownership of 6.2% in Blue Gold Limited's Class A Ordinary Shares.

Summary

• RCF VII Sponsor LLC, Resource Capital Fund VII L.P., Resource Capital Associates VII L.P., and RCFM GP L.L.C. (collectively, the "Reporting Persons") have filed a Schedule 13G.
• The filing discloses beneficial ownership of 1,903,125 Class A Ordinary Shares of Blue Gold Limited.
• This represents 6.2% of Blue Gold Limited's Class A Ordinary Shares outstanding as of June 25, 2025.
• The total Class A Ordinary Shares outstanding for Blue Gold Limited was 30,571,764 as of June 25, 2025, as reported in their Form 20-F filed on July 1, 2025.
• The Reporting Persons collectively hold sole voting and sole dispositive power over these 1,903,125 shares.
• The filing confirms that none of the Reporting Persons or their principals have been involved in criminal or civil proceedings related to securities laws in the last five years.

Sentiment

Score: 7

Explanation: The disclosure of a new 6.2% stake by a reputable resource-focused investment group like Resource Capital Funds is generally viewed positively as it signals institutional interest and potential confidence in Blue Gold Limited, even if the filing itself is a routine compliance document.

Positives

• A significant institutional investor group, Resource Capital Funds, has taken a 6.2% stake in Blue Gold Limited, potentially signaling confidence in the company's prospects.
• The filing indicates a passive investment purpose, as it is a Schedule 13G, suggesting no immediate intent for control or influence over management.

Negatives

• No negative information is explicitly stated in this beneficial ownership disclosure.

Risks

• The document does not detail specific risks related to Blue Gold Limited's operations or financial health.
• The filing confirms that the reporting persons and their principals have no history of criminal or civil proceedings related to securities laws, mitigating a potential risk associated with the investors themselves.

Future Outlook

The document is a beneficial ownership disclosure and does not provide forward-looking statements or guidance regarding Blue Gold Limited's future operations or financial performance.

Management Comments

• The document does not contain direct quotes or paraphrased statements from Blue Gold Limited's management. It includes signatures from Mason Hills, General Counsel for the various Resource Capital Funds entities, certifying the accuracy of the filing.

Industry Context

This filing indicates a strategic investment by Resource Capital Funds, a group known for investing in the natural resources sector, into Blue Gold Limited. This suggests that Blue Gold Limited operates within or is perceived to have exposure to the resource industry, aligning with Resource Capital Funds' investment mandate. The acquisition of a significant stake by a specialized fund can be seen as a vote of confidence in the company's sector and specific business model.

Comparison to Industry Standards

• This filing is a standard Schedule 13G disclosure, indicating a passive investment by a group of entities. It does not provide performance metrics for Blue Gold Limited that would allow for a direct comparison to industry standards or specific comparable companies or projects. The 6.2% stake is a notable position for an institutional investor.

Management Changes

Corporate Governance

Legal Proceedings

• The document explicitly states that none of the Reporting Persons nor any of their Principals have been convicted in any criminal proceeding (excluding traffic violations or similar misdemeanors) during the last five years.
• The document explicitly states that none of the Reporting Persons nor any of their Principals have been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction making such Reporting Person or Principal subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws during the last five years.

Related Party Transactions

• The document does not disclose any related party transactions involving Blue Gold Limited.

Stakeholder Impact

• Shareholders: The entry of a significant institutional investor like Resource Capital Funds could be perceived positively, potentially increasing investor confidence and liquidity.
• Employees, Customers, Suppliers, Creditors: The document does not contain information directly impacting these stakeholders, as it is a passive ownership disclosure and does not indicate operational or strategic changes for Blue Gold Limited.

Next Steps

• The Reporting Persons are responsible for timely filing of subsequent amendments to this Schedule 13G if their beneficial ownership changes significantly or if their investment purpose shifts from passive to active.

Key Dates

Recommendation

Keywords

Blue Gold Limited, Resource Capital Funds, RCF VII Sponsor LLC, Resource Capital Fund VII L.P., Resource Capital Associates VII L.P., RCFM GP L.L.C., Schedule 13G, Beneficial Ownership, Class A Ordinary Shares, SEC Filing, Institutional Investment, Mining Investment, Resource Investment