# EDGAR Filing Document

**Accession Number:** 0001893053
**File Stem:** 0001213900-25-062210
**Filing Date:** 2025-7
**Character Count:** 19263
**Document Hash:** 7cb508e0b20ae951e36d246852b0e1df
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-062210.hdr.sgml**: 20250709

**ACCESSION NUMBER**: 0001213900-25-062210

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250709

**DATE AS OF CHANGE**: 20250709

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Blue Gold Ltd
- **CENTRAL INDEX KEY:** 0002019435
- **STANDARD INDUSTRIAL CLASSIFICATION:** METAL MINING [1000]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-95113
- **FILM NUMBER:** 251112435

**BUSINESS ADDRESS:**
- **STREET 1:** C/O MOURANT GOVERNANCE SERVICES (CAYMAN)
- **STREET 2:** 94 SOLARIS AVENUE, CAMANA BAY
- **CITY:** PO BOX 1348, GRAND CAYMAN
- **STATE:** E9
- **ZIP:** KY1-1108
- **BUSINESS PHONE:** (952) 456-5300

**MAIL ADDRESS:**
- **STREET 1:** C/O MOURANT GOVERNANCE SERVICES (CAYMAN)
- **STREET 2:** 94 SOLARIS AVENUE, CAMANA BAY
- **CITY:** PO BOX 1348, GRAND CAYMAN
- **STATE:** E9
- **ZIP:** KY1-1108
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RCF VII Sponsor LLC
- **CENTRAL INDEX KEY:** 0001893053

**ORGANIZATION NAME:**
- **EIN:** 871453458

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G

**BUSINESS ADDRESS:**
- **STREET 1:** 1400 SIXTEENTH STREET
- **STREET 2:** SUITE 200
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80202
- **BUSINESS PHONE:** (720) 946-1444

**MAIL ADDRESS:**
- **STREET 1:** 1400 SIXTEENTH STREET
- **STREET 2:** SUITE 200
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80202

## Ex-1

**Exhibit 1**

**<u>JOINT FILING AGREEMENT</u>**

This joint filing agreement (this "<u>Agreement</u>") is made and entered into as of this 9<sup>th</sup> day of July, 2025, by and among RVF VII Sponsor LLC, RCFM GP L.L.C., Resource Capital Associates VII L.P. and Resource Capital Fund VII L.P.

The parties to this Agreement hereby acknowledge and agree that the foregoing statement on Schedule 13G in respect of the Class A ordinary shares, par value $0.0001 per share, of Blue Gold Limited is filed on behalf of each of the parties to this Agreement and that all subsequent amendments to this statement on Schedule 13G may be filed on behalf of each of the undersigned without the necessity of filing additional joint filing agreements. The parties to this Agreement acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained herein or therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.

This agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument.

[*Signature Page Follows*]

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first set forth above.

---

| | |
|:---|:---|
| **RCF VII SPONSOR LLC** | **RCF VII SPONSOR LLC** |
| **By: RESOURCE CAPITAL FUND VII L.P.** | **By: RESOURCE CAPITAL FUND VII L.P.** |
| **Managing Member of RCF VII Sponsor LLC** | **Managing Member of RCF VII Sponsor LLC** |
| **By: RCFM GP L.L.C.** | **By: RCFM GP L.L.C.** |
| **General Partner of Resource Capital Fund VII L.P.** | **General Partner of Resource Capital Fund VII L.P.** |
| **/s/ Mason Hills** | **/s/ Mason Hills** |
| Name: | Mason Hills |
| Title: | General Counsel |
| **RCFM GP L.L.C.** | **RCFM GP L.L.C.** |
| /s/ Mason Hills | /s/ Mason Hills |
| Name: | Mason Hills |
| Title: | General Counsel |
| **RESOURCE CAPITAL ASSOCIATES VII L.P.** | **RESOURCE CAPITAL ASSOCIATES VII L.P.** |
| **By: RCFM GP L.L.C.** | **By: RCFM GP L.L.C.** |
| **General Partner of Resource Capital Associates VII L.P.** | **General Partner of Resource Capital Associates VII L.P.** |
| /s/ Mason Hills | /s/ Mason Hills |
| Name: | Mason Hills |
| Title: | General Counsel |
| **RESOURCE CAPITAL FUND VII L.P.** | **RESOURCE CAPITAL FUND VII L.P.** |
| **By: RESOURCE CAPITAL ASSOCIATES VII L.P.** | **By: RESOURCE CAPITAL ASSOCIATES VII L.P.** |
| **General Partner of Resource Capital Fund VII L.P.** | **General Partner of Resource Capital Fund VII L.P.** |
| /s/ Mason Hills | /s/ Mason Hills |
| Name: | Mason Hills |
| Title: | General Counsel |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**Issuer:** Blue Gold Limited

**Title of Class of Securities:** Class A Ordinary Shares, par value $0.0001 per share

**CUSIP Number:** G1331C104

**Date of Event Which Requires Filing of this Statement:** 06/25/2025

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [ ] Rule 13d-1(b)

- [ ] Rule 13d-1(c)

- [x] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>RCF VII Sponsor LLC | Names of Reporting Persons<br>RCF VII Sponsor LLC |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>1903125.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>1903125.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>1903125.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>1903125.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>6.2% | Percent of Class Represented by Amount in Row (9)<br>6.2% |
| 12. | Type of Reporting Person (See Instructions)<br>OO | Type of Reporting Person (See Instructions)<br>OO |

---

| 1. | Names of Reporting Persons<br>Resource Capital Fund VII L.P. | Names of Reporting Persons<br>Resource Capital Fund VII L.P. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>E9 | Citizenship or Place of Organization<br>E9 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>1903125.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>1903125.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>1903125.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>1903125.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>6.2% | Percent of Class Represented by Amount in Row (9)<br>6.2% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

---

| 1. | Names of Reporting Persons<br>Resource Capital Associates VII L.P. | Names of Reporting Persons<br>Resource Capital Associates VII L.P. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>E9 | Citizenship or Place of Organization<br>E9 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>1903125.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>1903125.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>1903125.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>1903125.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>6.2% | Percent of Class Represented by Amount in Row (9)<br>6.2% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

---

| 1. | Names of Reporting Persons<br>RCFM GP L.L.C. | Names of Reporting Persons<br>RCFM GP L.L.C. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>E9 | Citizenship or Place of Organization<br>E9 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>1903125.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>1903125.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>1903125.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>1903125.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>6.2% | Percent of Class Represented by Amount in Row (9)<br>6.2% |
| 12. | Type of Reporting Person (See Instructions)<br>HC, OO | Type of Reporting Person (See Instructions)<br>HC, OO |

---

**Item 1(a). Name of Issuer:**
Blue Gold Limited

**Item 1(b). Address of Issuer's Principal Executive Offices:**
Mourant Governance Services (Cayman) Limited 94 Solaris Avenue, Camana Bay Grand Cayman, KY1-1108, Cayman Islands

**Item 2(a). Name of Person Filing:**
This statement is filed on behalf of each of the following persons (collectively, the "Reporting Persons"):

(1) RCF VII Sponsor LLC (the "Sponsor"), a Delaware limited liability company. The principal business of the Sponsor is to sponsor the Issuer. The securities included in this statement are held directly by the Sponsor.

(2) Resource Capital Fund VII L.P. ("RCF VII"), a Cayman Islands exempt limited partnership. The principal business of RCF VII is investing in securities. RCF VII is the sole managing partner of the Sponsor.

(3) Resource Capital Associates VII L.P. ("Associates VII"), a Cayman Islands exempt limited partnership. Associates VII is the general partner of RCF VII. The principal business of Associates VII is to act as the general partner of RCF VII.

(4) RCFM GP L.L.C. ("RCFM GP"), a Delaware registered limited liability company. RCFM GP is the general partner of Associates VII. The principal business of RCFM GP is to act as the general partner of Associates VII and other RCF entities..

The sole members of RCFM GP are Messrs. Brett M. Beatty, Richard Brereton, , Lyle D. Bruce, Christopher J. Corbett, Russell L. Cranswick,  Mason G. Hills, James T. McClements, Michael J. Rowe, Calum Semple, Martin Valdes and  Ms. Jacqueline A. Murray and Ms. Michele Valenti (collectively, the "Principals"). The investment and finance decisions of RCFM GP are made by the managing member, James McClements, and the other authorized officers, consisting of Brett M. Beatty, Richard Brereton, Lyle D. Bruce, Christopher J. Corbett, Russell L. Cranswick, Mason G. Hills, Jacqueline A. Murray, Michael J. Rowe, Calum Semple, Martin Valdes and Michele Valenti. The business of RCFM GP is directed by the officers of RCFM GP. The Principals serve as executive officers of RCFM GP.

The business address of each of Messrs. Brereton, Cranswick, Hills, Valdes and of Ms. Murray and Ms. Valenti is 1400 Wewatta Street, Suite 850, Denver, Colorado 80202. The business address of Messrs. Beatty, Bruce, Corbett, McClements, and Rowe  is 24 Kings Park Road, Level 1, West Perth WA 6005, Australia.   The business address of Mr. Semple is 85 Great Portland Street, First Floor, London W1W 7LT.

The principal occupation of Messrs. Beatty, Brereton, Bruce, Corbett, Cranswick, Hills, McClements, Rowe, Semple, Valdes and Ms. Murray and Ms. Valenti is serving as senior executives of the Resource Capital Funds which include RCF VII.

RCF VII and Associates VII are each Cayman Islands exempt limited partnerships.

RCFM GP is a Delaware limited liability company.

Mr. Brereton and Ms. Valenti  are citizens of the United States. Mr. Cranswick is a citizen of Canada.  Messrs. Beatty, Bruce, Corbett, Hills, McClements, Rowe and Ms. Murray are citizens of Australia. Mr. Semple is a citizen of the United Kingdom. Mr. Valdes is a citizen of Chile.

During the last five years, none of the Reporting Persons nor any Principal has been convicted in any criminal proceeding (excluding traffic violations or similar misdemeanors). During the last five years, none of the Reporting Persons nor any Principal has 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.

**Item 2(b). Address of Principal Business Office:**
The principal business address of each of the Reporting Persons is as follows:

(1) The address for the Sponsor is 1400 Wewatta St., Suite 850, Denver, Colorado 80202.

(2) The address for RCF VII is 1400 Wewatta St, Suite 850, Denver, Colorado 80202.

(3) The address for Associates VII is 1400 Wewatta St, Suite 850, Denver, Colorado 80202.

(4) The address for RCFM GP is 1400 Wewatta St, Suite 850, Denver, Colorado 80202.

**Item 2(c). Citizenship:**
See response to Item 4 on the cover page.

**Item 2(d). Title of Class of Securities:**
Class A Ordinary Shares, par value $0.0001 per share

**Item 2(e). CUSIP Number:**
G1331C104

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [ ] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

See response to Item 9 on the cover page.

**(b) Percent of class:**

See response to Item 11 on the cover page.
Based on 30,571,764 Class A Ordinary Shares outstanding as of June 25, 2025, as reported in the Issuer's Shell Company Report on Form 20-F, which was filed with the SEC on July 1, 2025.

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

See response to Item 5 on the cover page.

**(ii) Shared power to vote or to direct the vote:**

See response to Item 6 on the cover page.

**(iii) Sole power to dispose or to direct the disposition of:**

See response to Item 7 on the cover page.

**(iv) Shared power to dispose or to direct the disposition of:**

See response to Item 8 on the cover page.

**Item 5. Ownership of Five Percent or Less of a Class.**

[x] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

Not Applicable

**Item 7. Identification and Classification of the Subsidiary**

Not Applicable

**Item 8. Identification and Classification of Members of the Group**

Not Applicable

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

—

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**RCF VII Sponsor LLC**

**Date:** 07/09/2025

**By:** /s/ Mason Hills

**Name & Title:** Mason Hills/General Counsel

**Resource Capital Fund VII L.P.**

**Date:** 07/09/2025

**By:** /s/ Mason Hills

**Name & Title:** Mason Hills/General Counsel

**Resource Capital Associates VII L.P.**

**Date:** 07/09/2025

**By:** /s/ Mason Hills

**Name & Title:** Mason Hills/General Counsel

**RCFM GP L.L.C.**

**Date:** 07/09/2025

**By:** /s/ Mason Hills

**Name & Title:** Mason Hills/General Counsel