Gold Mining Tech ICO Pre-announcement-ETHEREUM NETWORK FORK
Gold Mining Tech is pleased to announce the opening of its crypto equity financing round.
This is the first ICO of its kind, because the token is sold directly on the exchanges.
Gold Mining Tech is an international investment platform backed by GMTINCORPORATION PTE LTD. It was created in February 2016 for implementation of business projects based on the micro investment technology. The main aim of this platform is to create a unique development model for major manufacturing projects, using the micro investment tool and a group of 1 000 000 participating investors.
Also, using the experience of the most successful market players, modern investment tools and innovative gold mining technologies, we are planning to generate more than $1,000,000,000 in profits in 5 years period.
The primary activity of GMTINCORPORATION PTE LTD is gold mining investment. Trust uses both own resources and attracted investments of individuals and legal entities in its activities. GMTINCORPORATION PTE LTD owns 40% of stock in series of Guinea manufactures (Gold Mining Group), which owns gold mining rights in Guinea.
The existing Unit Investment Trusts allows to involve investments of both legal entities and individuals from any country of the world as well as have our digital shares listed at more than 50 exchanges all over the world
Why it is profitable to invest in gold
Firstly, as noted above, gold loses no value, therefore, investing in gold poses no risk of losing your money invested, due to inflation. Secondly, the political environment in the world is very volatile and fragile, so, there is a risk of currency in cash depreciation. Thirdly, financial experts predict a fall in dollar and currency depreciation. Fourthly, more and more investors put up their money for gold. At present, demand for gold goes up and that also results in a rise in gold price. Fifthly, at present, there remain precious few major mines in the world and the likelihood that suddenly, many major deposits will be discovered somewhere, is vanishingly small, as mankind mines gold for over four thousand years. Long gone are the days when the mattress was the safest way to save your “excess” money. Because you know, the value of money depreciates every day. If you are the proud owner of certain sum of money and you task is to preserve the value of your money, or better yet earn more money using it, there is a great opportunity for you!.
Primary project website: http://www.gmtincorp.com/
Supply: adjustable — currency administrator can issue and redeem tokens in exchange to cash deposits and withdrawals.
ICAP symbol: GMT
Decimal places: 0
Transaction fees in GMT: % of value, 0 for now.
Transaction fees in ETH: refunding to sender
EIP20-compatible contract address: FIXME
GMT is issued using Ambisafe EToken protocol, which is a set of Ethereum smart contracts.
We use ETH network (the forked one).
Full node: Ethereum Mist with EIP20 address from the above
BUSINES PLAN :
THE PHASES IMPLEMENTED:
1. Legal structuring of the project. The period is February to March 2016. Registration of the Companies. The Group of Companies is in Guinea, the Trust Fund is in Singapore.
2. Submission of an application for land plot allocation for preliminary inspection with the participation of geologists on the part of the state, to the state authorities. The period is march to April 2016. 3. Carrying out of preliminary exploration of the areas with the separation of the areas that are to be further explored geologically. The period is April to May 2016.
4. Obtaining of the permit for geological survey and work performance. The period May to June 2016. Digging prospect holes has been carried out in the “13 km” area, and the Geologist’s Report has been prepared. Preliminary digging prospect holes in the “101 km” area, with the determination of a type of further geological survey and preliminary evaluation of gold-bearing layer, have been carried out.
5. Submission of the documents for further execution of permits for geological exploration using heavy machines and equipment, to the state authorities, and provision of financial guarantees of solvency, compiling a list of necessary machines and equipment for further work performance. The period is July to September 2016.
The return on investment study in respect of the Project on alluvial gold mining in the “13 km” area.
The first concession for 13 sq. km
As part of the first concession for 13 sq. km, in a small area of 320 sq. m, which is analytical data are contained in the Geologist’s Report (the Report is attached), gold content is 27.95 kg. The total gold content within the area designated for mining, not including the side slopes of the major bed, makes up no less than 1,537 kg that is equivalent to $ 63,017,000. Mining of this amount of alluvial gold is determined for a period no more than 24 months. The team has been formed, the contracts with geologists, dresser, mining engineer, have been executed and signed. Facilities and equipment have been furnished, it is being supplied additional heavy machines and equipment. At the moment, the license for geological survey with the use of heavy machines and equipment, has been obtained, as well as the documents for license for mining of gold in this area, have been submitted. The license for gold mining is to be obtained by early December 2016. Agreeing with the state authorities to approve the camp project, is carried out.
To sum up the economical indicators, the prime cost of gold mining in the “13 km” plot is up to 25% of the value of gold mined, including the tax on gold mined and the expenses on its transportation inside and outside the country. The net profit from gold mining in the land plot of 13 sq. km amounts to $47,262,750. Extraction of this stream gold volume in the land plot of 13 sq. km is designated for a maximum period of 24 months
The return on investment study in respect of the Project on alluvial gold mining in the “101 km” area.
The second concession for 101 sq. km
As part of the second concession for 101 sq. km, the first prospect holes have been dug. The area is with good, rich gold deposit. There are alluvial gold deposits as well as gold ore deposits. Alluvial gold-bearing layer lies near the surface, 0.5 – 2.5 m, and its thickness ranges from 5 to 14 meters. There are a lot of golden nuggets. According to preliminary minimum evaluation, alluvial gold deposits in the area, account for about 10-12 tons. The expected gold mining time is 7 - 10 years. Active exploration in the area will take place December 2016 through May 2017. The scheduled time for start of mining work, is June 2017. The rough evaluation of investment yield for the “101 km” area, based on the reserves of 10 tons for a period of 10 years, at average amount of gold mined of 1 ton per year. The net profit from the gold mining project in the land plot of 101 sq. km amounts to $307,500,000.
The rate of return on the project is divided into several stages.
The estimated volume of gold mined within the concession of 13 sq. km is 1,537 kg. The net profit from stream gold mining in this plot of land will amount to USD 47,262,750. The rate of return on mining in the second plot of 101 sq. km is divided into 2 stages as well. The first stage, stream gold mining during the period of 3 to 7 years, is included into the investment package. The volume of gold expected to be mined in the 2nd concession of 101 sq. km amounts to approximately USD 307,500,000 over the development period of 7 to 10 years. Hardrock gold mining is a separate investment package. The investment project of hardrock gold mining is planned to be launched in 2018.
Agreeing the camp structure and obtaining a license for gold mining in the “13 km” area. Entry of heavy machines and equipment, camp availability assurance - power supply (by generators), water supply (drilling of own water well), own fuel and lubricant base’s equipment. The period is October to November 2016. Continuing geological exploration work in the “13 km” area, the period is November to December 2016. Start of geological exploration by drilling in the “101 km” area, the period is December 2016 to April 2017. Start of gold mining in the “13 km” area, the period is December 2016 to January 2017. Formation of the camp and creation of work infrastructure in the “101 km” area, obtaining a license for gold mining, the period is February to May 2017. The start of gold mining in the “101 km” area, the period is June 2017. Preliminary evaluation of the total amount of alluvial gold deposits in the “101 km” area, is 10 to 12 tons.
LONG-TERM DEVELOPMENT PLANS :
Start of investment package formation (own funds and the funds from investors) for the creation of a manufacturing enterprise and facilities and equipment for gold ore mining in the “101 km” area, the period is May 2017 to December 2017. Technical implementation of the gold ore mining Project in the “101 km” area, the period is 2018. Start of gold ore mining in the “101 km” area, the period is January 2019.
The amount of money for investment
The amount of money required for additional investment in the Project, makes up $ 2,500,000. This amount ensures investor’s ownership of up to 20% share of profit of the entire Project (investment in the amount of $ 500,000 means 4% of profit of the Project).
The investment is necessary for purchase of additional machine and equipment package (excavators, bulldozers, dump trucks, generators), drilling rig, and for geological survey as part of the concession for 101 sq. km.
The guarantees for an investor.
1. According to Singapore laws, a company is liable to an investor to the full extent of its assets, and in case of any barriers and obstacles for the project implementation, an investor has the right to compensation for his money invested, pursuant to % of his share holding, after the Company’s assets are evaluated and sold.
2. An investor is entitled to resell its share both internal and external investors, and to transfer his share by heredity, deed of gift agreement or assignment agreement.
3. The Company undertakes to repurchase a share under the following terms and conditions: Repurchase of a share may be made not earlier than 12 months from the date of investment, and not earlier than 6 months after the date of start of gold mining.
If an investor wishes to sell his share after the start of dividend payment, than the company shall repurchase a share at a price calculated at the following formula Repurchase value= investment amount - dividend amount + compensation (investment amount – dividend amount)*110%).
Company guarantees buyout at price $2 / token starting January 1, 2018.
The company undertakes to ensure the machines and equipment used for the Project implementation, after putting them into operation. The process of gold transportation from the camp to the bank in the capital of the country, will be insured by the state in full. Transportation of gold from the capital to the country where gold refinery is located (Switzerland) will be insured through the Project funds and this cost item is included in the cost of production. After gold is transferred to the gold refinery or bank, it will be insured by the relevant organization.
Every investor will receive information about the work in the area and the Project cash flow reports.
Dividend shall be paid quarterly, but not earlier than 3 months after the start of gold mining.
The investment program participants may learn more information about the terms and conditions when executing and signing the agreement.
We promise to conduct semi-annually audit using services one of the independent auditor companies from big 10.
Getting yield on gold exchange rate changes
TOKEN DESCRIPTION :
General: GMT tokens are shares of GMTINCORPORATION PTE LTD which are basis for getting dividends.
Governing law: Singapore
This is one of the first crypto tokens where main profits will be made on dividends rather than speculation. Each token holder will be receiving dividends every 3 months, starting 12 months from ICO date. According to our estimates the first dividend payout will provide 100% profitability. E.g. you buy $100 worth of GMT shares today and receive your $100 back + $100 in dividends 12 months from now. Token remains yours and you are eligible for further dividend payouts.
User is required to move tokens to compatible wallet before the date of dividends accrual.
Initial amount: 10,000,000 tokens
Initial price: $1 per token
Buyout price: $2 / token starting January 1, 2018
In case of liquidation, claims against the company are satisfied with no preference.
Tokens can be redeemed either through the token to BTC exchange at the gmtshares.com wallet or through sale at one of the cryptocurrency exchanges.
Decisions are taken by the majority of shareholders.
Exchange and Transfer
There are several options for transfering and exchange of tokens:
- Official wallet (gmtshares.com)
- Exhanges which accept GMT token
- Mist wallet (transfer only!)