Revolutionizing Gold Mine Financing: ClassicMinerals and AuResources Skip the Bank and GoStraight to Retail Investors
–News Direct–
Geneva, Switzerland, 11/3/24 In a move set to redefine the gold mining and fintech landscapes, Classic Minerals Limited is partnering with Swiss fintech startup AuResources AG in a trailblazing $60 million blockchain-backed funding initiative. This strategic collaboration is designed to accelerate the development of Classics high-potential gold projects, notably the Kat Gap project in Western Australia and the expansive Forrestania Gold Project, using technology to bypass traditional commodity trade financing.
The initial advancement of US$10 million from AuResources, supported by Black Manta Capital Partners, will bolster Classics production capabilities at Kat Gap and foster the development of the Lady Magdalene and Lady Ada deposits. This funding initiative is not only a testament to the viability and the promising future of Classics gold projects but also represents an exceptional opportunity for retail investors to partake in the growth of a leading mining entity.
This collaboration signals a major advancement in giving junior miners -mining companies that are either still growing their output or still in the exploratory phase – access to the funds they need to build their operation safely and without delay. AuResources has delivered significant savings in the due diligence, certification, fundraising, and loan management processes, enabling an entirely new business model with better accessibility, security, and transparency.
Classics Kat Gap project, located approximately 170km south of Southern Cross, has demonstrated significant potential, securing a $41m reserve at 2.5g/t and an inferred resource of $120m additional reserves at 2.19g/t within the area. Following a successful trial mining phase in mid-August 2023, the project has started generating revenue, with gold sales reaching approximately $967,000 across the September and December 2023 quarters. The partnership with AuResources aims to leverage this initial success, facilitating the transition to full-scale production and further exploration.
Additionally, the acquisition of full control over the 500km^2 Forrestania Gold Project tenements underscores Classics commitment to expanding its portfolio and enhancing shareholder value. The Forrestania project, with historical production and substantial inferred and indicated resources, presents further exploration and development potential.
Being able to do this today represents two years of tireless work and the continuous support of our investors. The whole team is proud this is going forward, and we couldnt have found a better partner than Classic Minerals, Ian Cooper, the CEO of AuResources, said.
The funding structure, supported by gold tokens through distributed ledger technology, underscores an innovative financing approach, offering investors security and transparency. This digitalization of gold assets represents a forward-thinking strategy, aligning with the interests of the mining industry and the investment community.
John Lester, Chairman of Classic Minerals, expressed his gratitude towards AuResources and Black Manta Capital Partners for their support, stating, The launching of this round of funding puts Classic firmly on the international scene. We are now poised to deliver unparalleled value to AuResources, Black Manta Capital, and our esteemed shareholders.
This funding agreement signifies a pivotal moment for Classic Minerals, positioning the company as an attractive investment for diversifying into the gold mining sector. With a clear strategy for development and exploration, Classic is set to capitalize on the inherent value of its projects, promising substantial returns for retail investors and stakeholders alike.
This groundbreaking partnership between Classic Minerals and AuResources marks a pivotal moment in investment and mining. It redefines traditional investment strategies by leveraging blockchain technology to tokenize gold assets, offering unprecedented access and security to investors.
This collaboration accelerates key project developments and signifies a commitment to innovation and shareholder value. This landmark case exemplifies how technology can transform the gold mining sector, heralding a new era of inclusive and transparent investments.
About Classic Minerals Limited
Classic Minerals Limited (ASX:CLZ) is a Western Australia-based gold exploration company focused on the development of its high-grade gold projects in the Forrestania Gold Belt. With a strong commitment to exploration and development, Classic aims to become a significant gold producer.
About AuResources AG
AuResources AG is a Swiss-based fintech startup using distributed ledger technology to revolutionize the gold market. Its primary innovation is tokenizing future gold production contracts and turning them into digital assets via its own platform, allowing investors to easily track their portfolio and access new opportunities on its marketplace. AuResources is planning to integrate with the DeFi ecosystem through decentralized exchanges and lending/borrowing platforms, opening up investment opportunities much earlier in the gold supply process than traditional markets allow.
About Black Manta Capital Partners
Black Manta Capital Partners (BMCP) is a next-generation investment bank focused on digital and tokenized assets, operating a regulated investment platform for issuances in the European capital market. As a full-service provider for all technical, financial, and legal aspects of asset and security tokenization, BMCP also provides traditional investment banking services such as capital market listing, structuring, and placement. BMCP was founded in Luxembourg in 2018 and runs BMCP GmbH in Munich as a licensed and regulated Financial Service Institute. In addition to Munich, BMCP also operates in Vienna, Luxembourg, Cork, and Shanghai.
Media Contact:
Ian Cooper
Distributed by STORM Partners. Contact Adrian Bono for interviews and quotes
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View source version on newsdirect.com: https://newsdirect.com/news/revolutionizing-gold-mine-financing-classic-minerals-and-auresources-skip-the-bank-and-gostraight-to-retail-investors-837809305
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COMTEX_449090043/2655/2024-03-11T13:29:33
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