Golden Alliance to Launch an ICO to Literally Mine Gold

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by Anupam Varshney · 3 min read
Golden Alliance to Launch an ICO to Literally Mine Gold
Photo: Golden Alliance / Twitter

Golden Alliance is launching token sale in order to invest in mining projects the company is currently working on.

Golden Alliance group has vast experience in managing mining projects, which have received investments for exploration, evaluation and development of solid mineral fields – primarily gold.

The group is an international investment consortium of mining and consulting companies that make profit by implementing gold and other mining investment projects and increases investors’ income by raising the real value of assets and their liquidity.

The organization offers excellent opportunities to all who would like to diversify their profile with investments in mining projects. The company’s primary mining operations are based in Russia, where the team has 30+ years of experience extracting minerals from the ground.

The Golden Alliance ICO

The Golden Alliance group has now announced a Golden Alliance Coin (GDA) token sale to raise $50 mln and invest in the mining projects the group is currently working on. $25 millionn is planned to be used to purchase 25 percent of Golden Alliance.

The funds exceeding this amount will be invested in the future portfolio of gold and other ore mining Golden Alliance projects.

Through Blockchain technology, Golden Alliance plans to sell tokens that represent shares in the fund. Investors will earn profits as the fund continues to make money. People will get paid dividends in the form of gold or cryptocurrencies. Dividends are issued proportionally to the number of tokens you hold.

This is for the first time, the Golden Alliance Coin plans to issue not only its own electronic cryptocurrency but also its standard as golden coins and gold bars at various values.

These golden coins will have their own quotations, and the value will depend not only on the value of gold they will be made from but also on the value of Golden Alliance tokens (GDA) at the cryptocurrency exchanges. Hence, the value of GDA should never be lower than the value of its golden equivalent.

The ICO began its crowdsale yesterday, November 27, 2017, and it will last for 30 days. There’s a total supply of 500 mln tokens. One GDA token is equal to about $0.10. For the ICO, the company will accept most major fiat currencies and cryptocurrencies, including USD, EUR, RUB, BTC, BCH, LTC, ETH, DASH, NEO and Ripple.

Of the tokens, approximately 450 mln are available through the ICO. 10 mln tokens (2%) are reserved for bounties, and 40 mln tokens (8%) are for “the input into the domestic economy, as well as for creators.”

The group’s coin distribution entity is registered in Switzerland and all of their mining operations are based out in Russia. It’s because of the friendly ICO regulations offered by Switzerland.

Golden Alliance is also planning to conduct a buyback program in the future. Token repurchasing is expected to begin in 2019.

The Team Behind Golden Alliance

With more than 30 years of mining industry experience. Key members of the group include Nikolay Tsyganov – mining engineer, Vyacheslav Miklyayev – director of geology, Vitaly Menshikov – chief geologist and many more.

Blockchain News, News, Token Sales
Maria Konash
Author: Anupam Varshney

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