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Russian decentralized online-platform Golden Resources received $250 thousand from private investor in the area of gold mining industry as part of the closed pre-sale of tokens.

Pre-ICO of the project started on February 27 and will last for a month. ICO will start on April 12 and finish on June 12.

 

Golden Resources platform allows every private investor put up the capital directly in gold mining on acquisition and auction targets. Pilot platform will be Lysogorsoky mineral assets - an underground mine which has already produced 80K ounces (2,5 tons) of gold. According to white paper of the project, investors of Golden Resources purchase GDR tokens, guaranteed with the gold in situ linked to the Troy ounce of gold. On the average the price of one ounce of gold to the participants of ICO Golden Resources will cost $400 less than the market value. The creators of the project are obliged to proceed to the redemption of the tokens already in 2019, and not at the price of the ICO, but at the market price on the day of the return purchase.

 

On the main round of ICO the company 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,” told Project Manager Vadim Nikolaychuk.

 

Therefore, the cost of 1 GDR on the Pre-sale stage is $0,8. Total 35000 ounces of gold (35 million GDR tokens) will be put on the market. For ICO conducting company creates special legal entity in Estonia.

 

Cryptocurrency Golden Resources is provided not only with gold in the bowels of the Lysogorsoky deposit, but also with securities of JSC Artemovsky Rudnik, which 95% of stocks are owned by JSC Geo-System. Meantime, Geo-System has three licenses for gold mining on deposit with total indicated stocks of 415K ounces (13 tons) of gold. As part of the company's assets there are Lysogorsoky deposit (80K ounces (2,5 tons) of gold), Seybinsky open-cut mining (175K ounces (5,5 tons) of gold) and Kuturchinsky square in size of 71 sq.km with inferred reserves of 2,9M ounces (90 tons) of gold. It’s a perspective object of the company - on the licensed area indigenous and alluvial gold were found. As a result of planned geological exploration for 2018-2019, it is expected to increase resources to 20 tons of gold in category C2, as well as the increase of resources for the category P1 to 25 tons and category P2 to 30 tons.

 

All objects are located not far from each other in the area with developed infrastructure and convenient transport logistics. In the development of the company's deposits there has already been invested about $ 25 million. The most complicated stages have been passed: geological exploration, project development and coordination of project documentation.

 

JSC Geo-System is a management company in the Group of Mining and Consulting Companies. The joint-stock company was established in 2006 with the purpose of getting profit as a result of the implementation of gold mining and other mining investment projects. "Geo-System" was formed by combining of the the assets and specialists of the group of companies OJSC Directorate of the Intergovernmental Innovative Mining Program, registered in 1992. The General Director is Sergey Konopelko.

More about the project Golden Resources: https://goldenresources.io/

White paper: https://goo.gl/gfV6BJ