Our history tells about an industrial educated family business with many years of experience in the field of heavy machinery plants - Ceramic production - and our knowledge will now be put into the design and production of a new eco-friendly way of extracting the precious metal from the ground. The gold which will be mined, purchasable only via our GNTO Token on Goldenugget’s platform, will be mined in our properties in Western Africa where we are present since over 10 years. That is the big difference between us and 99% of those “Gold guaranteed” projects on the Blockchain.
Afro Splendid Minerals Co. Ltd., is Ghanian registered company 100% owned by GoldeNugget’s founder, and was founded in 2011 as a mining and heavy earth moving machines rental company.
Africa is one of the fastest growing emerging markets in the world. We are passionate about the growth and development of this great continent which has so much to offer. Our goal is to help fuel this growth and drive Africa forward by cooperating at our best in sustainable mining projects.
GoldeNugget is an existing reality, with over 3,000,000.00 Euro’s already invested in West Africa for earth moving machines for the gold industry. Where you can really feel the dust, the noise, and the smell of business. Where people really have an objective, where people really see actual results in their hands at the end of the day. Call it “Old Economy”, however this business was once the actual value of money, the same money that still today allows you to purchase bread. So why not unite an old dirty but real business with new innovative industry such as Crypto in Switzerland where purchaser can rely on a predictable legal framework..
THE GNTO ON THE ETHEREUM BLOCKCHAIN
GNTO is GoldeNugget’s ERC20 compatible token registered on the Ethereum main net, minted in 30.000.000 units with 18 decimals, and will be used by purchasers to purchase Gold at “outlet” prices, or on our Reverse Auction website or Dutch Auction.
The Goldenugget Blockchain is a EVM (Ethereum Virtual Machine) compatible public licensed blockchain with Proof of Authority Consensus Algorithm.
The blocks are verified every 30 seconds.
The Goldenugget Blockchain stores and tracks all the operations from Gold manufacturing to delivery of the purchases and of the Reverse Auctions website, the tracking papers of the items for sale, making them redeemable at any time.
In today’s market, considering the unbelievable proportion and percentage of failed Crypto projects and where purchasers find it hard if not impossible to participate in projects that have actual future, we have decided to approach our “Crowdfunding strategy” completely different from others. While most of the Crypto projects in high majority fail or not even begin. GOLDENUGGET will revolutionize the market by redesigning the concept of ICO’s, STO’s or crowdfunding.
IEO stands for Initial Exchange Offer. We are not a Cryptocurrency Exchange, however we exchange our issued Tokens with our manufactured Gold through different mechanisms of simple exchange or Dutch auctions. In order to participate in our Crowdfunding we have opted to implement the KYC and AML procedure. This allows us to transmit all the possible safe and safeguarding measures in terms of trustworthiness and clarity on the project.
In connection with carrying out the activity of gold broker, and before making gold transactions, GoldeNugget will be affiliated to a SRO organization.
Mining enviromental Responsability
Mining is the extraction of minerals and other geological materials of economic value from deposits on the earth. Mining has the potential to have severely adverse effects on the environment including loss of biodiversity, erosion, contamination of surface water, ground water, and soil. Other than environmental damage, mining may also affect the surrounding population's health as a result of contamination caused by the leakage of chemicals.
In Ghana, where the government is seriously controlling and implementing safety and pollution laws, mining companies are expected to adhere to rehabilitation and environmental codes, making sure that the area mined is eventually transformed back into its original form, or at least as much as it is possible. Different types of mining methods can have significant public health and environmental effect. The erosion of exposed tailing dams, mine dumps, hillsides, and the resultant siltation of creeks, drainages, and rivers can affect the neighboring areas.
Mining operations have environmental responsibility include the protection of land, water, and air.
(For more information read our White Paper.)
The Crypto “Jungle”
The blockchain has been created 10 years ago with the Bitcoin. Today, 10 years after, we are in a real Crypto Jungle situation: ICOs Vs STOs or ITOs, Utility Vs. Security token,TOKEN Vs COIN, FIAT, CRYPTO, STABLE COIN etc….. All this looks like a dangerous jungle for most people, and mainly for all those who are curious and might even be ready to invest some money, scared of the possible fluctuations, uncertainties, failures or even scams.Today’s crypto market is quite different from just a few months ago. It evolved, Goldenugget will actually allow purchasers to purchase Gold from its platform.
Realization times are another issue: it’s customary to issue TOKENS and the related services with medium-long timescales, causing very often speculative bubbles, forcing them to sell below cost and disinvest.
Utility, security or Stable Tokens?
Let us try to clean up some confusion for all those who are interested in purchasing our tokens::
Utility tokens: Utility tokens are tokens which are intended to provide access digitally to an application or service by means of a blockchain-based infrastructure. (Source: FINMA)
Securities are tradable financial assets such as bonds, options, shares (stocks), or warrants. Taking the example of stocks, you might understand that it is a way to own a part in a company without taking actual possession of it. When these conditions are met through a cryptographic token, we can definitely speak about a Security Token.
Stable Token refers to a new type of cryptocurrencies. Offering price stability they are backed by assets. In recent times, stable Token have gained enough interest, their attempt is to offer the best of both worlds, an instant processing, the security of payments of cryptocurrencies, and to avoid the volatility valuations of Cryptocurrencies.We, at Goldenugget made a choice which could become a new standard in order to guarantee the investor, the life of the project, the growth of the company and the future of the value of all assets and its cryptocurrency.
Gold mining using innovative systems in order to lower the ecological impact on ground, air, vegetation, water and fauna in our CIL plant! Let us explain our mining process and make it clear why it is Eco-friendly and sustainable:
1. A thickener is used to maintain a constant percentage of solids utilizing 20% less water.
2. The Leaching process is therefore reduced by 20% bringing us to a leaching time of in 8-13 hours by fact reducing power consumption by 20%.
3. No toxic Cyanide is added. We will utilize new non-toxic chemicals and fully replace Cyanide by fact eliminating all the possible risks. This step is the milestone of eco-friendly mining.
4. Land Reclamation. The Ghanaian government emphasizes the importance of reclaiming mined land.
5. Reclaiming mined land with PALM OIL TREES which will be able to produce Palm Oil, largely consumed by the local population.
6. Solar Energy. 100% of the factory’s needs and to be completely green and not consume the governments resources.
7. Benefits to locals. Employ locals, drill and bring water and supply electricity from our Solar farms to the needy.
8. The Ghanaian Government’s main attention is placed on our workers, No child labour, Fair salaries, No gender differences are our guidelines.
We, at Goldenugget are convinced that the clearer the better. We are trying from the beginning to use words that everyone, interested to know more about our project, could understand. How many projects have you already looked into, being, at the end, more confused than before?
The Gold will all be smelted and delivered to Switzerland, precisely in the Chiasso area which was and still is considered the Gold Valley due to the presence of large Gold refining companies such as Valcambi, Argor, Pamp and others. Here, the Gold will be refined into different weights so that purchasers will be able to purchase or participate at the Dutch auctions for their desired quantity.
We will rely on the Ethereum Blockchain for our Token and will use our own ERC20 based Blockchain to track and certify all our actions and progresses from manufacturing to the delivery to the end buyer or Dutch auction winner.
On top of that, as we are Gold miners and producers we thought about a new and exciting way to give the chance to our clients to purchase real physical gold through the system of Dutch Auctions.