The initial funding to the mines, or the Advanced Purchase Amount, is usually on average of €10-15M and covers all the financial requirements of the artisanal mining operation. This allows for vastly increased efficiency and profitability, and more importantly, 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. From this 20%, GoldFinX will route 15% of the refined pure gold to the reserve in Swiss vaults to support the GiX coin and use 5% for its working capital.

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.

A cryptocurrency secured by a future asset, and backed by a blockchain platform, is issued and sold on public exchanges.

The proceeds are then used to prepay the gold production of selected qualified ASGM companies for an equivalent amount to cover their exploitation needs for the commencement of efficient extraction.

Once the mines start producing “Cleaner Gold,” they deliver to GoldFinX in priority the quantity that has been prepaid, and then we receive a share of all future production (20%) until the end of the mine’s life-cycle.

The precious metal received by GoldFinX is accrued and stored indefinitely in the vaults of reputable custodians, thus ensuring the secure backing of the GiX coin.