Our Unique Solution
Our G1X Token is minted and sold privately and publicly through exchanges and staking platforms.
The proceeds are then used as financing to prepay the gold production of selected qualified Artisanal Miners and Small Gold Mines companies for an equivalent amount to cover their exploitation needs for the commencement of efficient extraction.
Once the miners start producing “Cleaner Gold,” they deliver to GoldFinX in priority the quantity that has been prepaid, as well as a share of all future production (20%) until the end of the mine’s life-cycle.
The precious metal received by GoldFinX is sold at international market prices. Today, gold miners have no other option than to sell their gold production locally with absurd discounts that can get as high as 40%. Since GoldFinX’s business model includes selling the totality of their production at international prices, the benefits for the miners are obvious.
The initial funding to the mines, or the Advanced Purchase Amount, is usually on average of USD 500,000 to USD 1,000,000 for Cooperatives, and on average USD 10,000 to USD 50,000 for small mining communities. This funding covers all the financial requirements of the artisanal mining operation and allows them to vastly increase efficiency and profitability, and more importantly, to achieve a sustainable and safe way to operate both socially and environmentally.
As part of the Contract Mining agreement, the ASGMs (Artisanal and Small Gold Mines) will not only obtain the necessary funds required for an effective re-boot of their operations but will also benefit from additional logistical support provided from GoldFinX and its board of experts.
Once each Contract Mining agreement starts operating, the mine will deliver in priority to GoldFinX the pre-purchased gold. This delivery will include a premium of 15%.
Once the pre-purchased volume is delivered over a short period of time, the mines will also, as per the agreement, share 20% of their production in gold with GoldFinX for the rest of the economic life of the mine.
The equipment and systems co-selected and approved by GoldFinX will provide efficient means to monitor and control the production and volume of gold extracted. The mobile stations will be equipped with sensors monitoring; flow of slurry-soil treated, working hours, GPS location and movement, magnetic resistance for gold estimate and other telemetric data, including video and still images of the stations at key areas.
Additionally, as per the contract mining agreement, GoldFinX will have on the ground personnel for audits, security and logistics related to the gold expedited to refinery, management support, as well as NGO and local government coordination.