Home » Blockchain/Cryptocurrency » Golden Resources’ ICO Pre-Sale is Live – Decentralized Online Platform for Mining Gold on The Ethereum Blockchain

The Russian online platform for investment in mining projects, Golden Resources has already raised $250,000 from a private investor in the gold mining industry as part of a closed pre-sale of tokens. 

Moscow, Russia, March 6, 2018, Golden Resources is a decentralized online platform that allows any private investor to directly invest in gold mining on prospective sites. The pilot site will be the Lysogorskoe deposit, an underground mine which has already produced 80,000 ounces (2.5 tons) of gold. According to the White Paper of the project, investors of Golden Resources purchase GDR tokens. This currency is secured by gold in the ground, linked to the Troy ounce of gold. The price of one ounce of gold to the participants of ICO Golden Resources will cost, on average, $ 400 less than the market value.

The creators of the project are obliged to proceed to the redemption of the tokens as early as 2019, and not at the price of the ICO, but at the market price on the day of the return purchase. Pre-ICO project started on February 27 and will last a month. ICO project will start on April 12 and will last until June 12. On the main wave of ICO, the project intends to raise $32 million for the planned launch of the project. Up to 90% of the funds will be spent on mine reconstruction and gold mining, 10% on marketing and maintenance of the project team. Hard Cap is set at $35 million.

“By purchasing Pre-ICO 1000 GDR tokens, the investor receives 1 ounce of gold for $800, with the current price of an ounce of $1350,” Project Manager Vadim Nikolaychuk, said: “In total, within the ICO, 35,000 ounces of gold will be available for sale (35 million GDR tokens).”

The cost of 1 GDR on the Pre-sale round is $0.8. Golden Resources is provided with gold in the bowels of the Lysogorsky deposit, as well as with securities of JSC Artemovsky Rudnik, the main shareholder of which is JSC Geo-System (more than 95%).

All facilities are located close to each other in an area with well-developed infrastructure and convenient transport logistics. The development of the company’s fields has already invested about $25 million. The most complicated stages have been completed: exploration, design and approval of project documentation.

Today, for the ICO, the company creates a special purpose legal entity in Estonia. JSC Geo-System today has 3 licenses for gold mining. These deposits have total indicated stocks of 415K ounces (13 tons) of gold.

  • Lysogorsoky deposit is the underground mine, on which 80K ounces (2,5 tons) of gold have been already extracted.
  • Seybinsky deposit is developed quarry (ore on surface) with 175K ounces (5,5 tons) indicated stocks of gold.
  • Kuturchinsky square is 71 sq.km. perspective object. Indigenous and alluvial gold were found there. It has total inferred reserves – 2,9M ounces (90 tons) of gold. All objects are not far from each other. They are in the area with developed infrastructure and convenient transport logistics. $25M has already been invested in project.

The token’s value growth is possible due to the increase in demand. The number of tokens is limited. All funds transactions within the platform are made in tokens. The GDR tokens demand will grow with an increasing number of partner companies (mining enterprises, manufacturers of crypto-mining equipment, jewelry production, stores, etc.), the volume of funds and the number of transactions within the platform.

The project team uses the ICO campaign to attract investment because it is not only a financing method but also a marketing tool. The ICO campaign will help project to attract the loyal users and partners from the mining sector to the platform, form loyal communities of crypto-investors who want to minimize the risks of losing their money due to the classical investments in the gold asset. Access to the gold asset is additionally ensured by the blockchain technology.

Each new participant in the GDR platform (private or commercial investor or partner industry organization) not only invests their funds in the project, industry relations and new resources, but also increases the tokens capitalization and the whole project ultimately. Thus, the synergistic effect is achieved. All investors of the project receive their benefits in proportion invested finances. Each new partner increases the platform stability, reduces the token volatility, any kind of cryptocurrency speculators naturally migrate from the project, the token reliably enters the turnover of the largest exchanges.

For complete information, please visit: https://goldenresources.io/

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