ORET ICO – Gold Mining Meets Blockchain Technology
Experts agree gold is the strongest investment today. What happens when it meets the power of blockchain
Gold has been an object of intrigue, fascination and interest for human kind for many a thousand years. It has been the coveted metal of choice for both ornamental value as well as for investments. In the rapidly changing volatility of the world economics, gold has time and again proved to be the most definitive and dependable investment for the long run. Some of the important factors that have made investment in gold a winning strategy are:
- It’s ability to act as a diversifier to compensate for losses during a market crisis.
- Provide higher risk adjusted returns through systematic and planned investments.
- A proven asset that has always outshone the prevalent currencies.
Just as in the case of world economics, the global technology scenario too has been an ever evolving one. With constant innovations and development, the road to a brighter future is now a distinct reality. Add to it the advent of decentralised technologies such as the Blockchain and the world dynamics of technology takes a whole new dimension for good. Imagine the stunning possibilities of a system that combines the value and profitability of the illustrious gold mining industry with that of the blockchain technology, and what you get is an opportunity to invest in a future that can only offer higher yields in return. Welcome PMMSA.
Paraguay Mineral Mining SA (PMMSA) is a company that has been formed with some of the finest brains of the industry to excavate gold from the rich areas of Paso Yobai. Located at a distance of 150 kilometres from the capital city of Asuncion, Paso Yobai is one of the most promising gold sites of eastern Paraguay. The locals residing in the area have now decided to sell the gold rich areas to prospective buyers since the 30% excavations of gold executed by them is all they could manage given the limitations in machinery and equipment.
PMMSA plans to excavate 83.37 hectares of gold rich areas of Paso Yobai from the APM (Association de Mineros Pequenos), the group formed by the locals when the excavations were initially started. PMMSA understands the potential of the gold deposits and has hence completed the required geological surveys along with drilling equipment to sample the deposits from its test planet which is already operational in the target zone.
PMMSA believes in the potential of the power of decentralised technologies and has hence decided to raise the funds required for land purchase, excavation, building the necessary infrastructure and building a main plant at the site through the blockchain technology by offering the ORET token through ICO (Initial Coin Offering). The ORET token is an Ethereum based ERC20 token standard and has the following accredits:
- Each ORET token is priced at $0.50 USD
- $150,000 USD worth of ORET is the maximum permissible purchase value for an individual.
- The tokens hard cap is set at 12,500,000
- To be sold through an Ethereum based Smart Contract
- Purchase is through Ethereum
- ORET tokens to be offered through both Airdrop as well as ICO with the latter forming 96% of the total sales.
- Comes with the blockchain benefits of transparency, reliability, safety and security
- ORET tokens cannot be purchased by residents of USA and China
PMMSA plans to complete the excavation in three well-planned stages formulated through detailed satellite imaging technology, ground analysis reports and sampling on its test plant.
Experts agree gold is the strongest investment today. What happens when it meets the power of Blockchain.
Phase-1 aims to cover 43 hectares with an expected output of 319,102 ounces of gold.
Phase-2 aims to cover 24 hectares with an expected output of 212,734 ounces of gold.
Phase-3 aims to cover 10 hectares with an expected output of 106,367 ounces of gold.
The estimated cost per stage stands at $6,000,000 USD, $4,000,000 USD, and $2,500,000 USD respectively.
PMMSA has taken care of its investors through its innovative profit sharing program the details of which are listed below:
- The company aims to sell the excavated gold each week in USD.
- Of the weekly net profits, 45% is converted to Ethereum and given to token holders weekly.
- Starting from the second year, 40% of the weekly profits are given to token holders every week. The reduction in 5% is for raising further capital and development and is assured to more than compensate with higher yields once the main plant becomes operational.
- For the token holders to receive the weekly profit, the ORET tokens need to be stored on an ERC20 compatible wallet and should not be listed on any exchange at the time of weekly snapshot.
- Returns are assured to be substantial post the first 6-7 months of operation once the main plant is fully functional.
PMMSA has redefined the gold mining industry through ORET tokens based on the revolutionary blockchain technology. The combination of a high yield time tested industry with that of a futuristic technology is indeed the beginning of a new era in the gold mining industry. PMMSA is set to alter the gold mining sector forever and is well on its way to be a leader at that.