SG MINING CO

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ICO SG MINING CO Logo
Country: United Arab Emirates
https://sudangm.com/
Platform: Blockchain
Token Symbol: SGC
Category: Other

Product

Status:Past
Starts:
Ends:04/30/2018
Team:9 people
Whitepaper:download

rating

{88/100}

Team

Dmitriy Konoval CEO SGC FounderDmitriy Konoval
CEO SGC Founder
Fahd el Saleh Technical DirectorFahd el Saleh
Technical Director
Elhadi Mohammed Lead Mining EngineerElhadi Mohammed
Lead Mining Engineer
Rustam Mamedov CTORustam Mamedov
CTO
Oleh Burmenko Frontend DeveloperOleh Burmenko
Frontend Developer
Eugene Romanenko Lead Community ManagEugene Romanenko
Lead Community Manag
Vitaliy Kravchenko DesignerVitaliy Kravchenko
Designer
Igor Grigorenko Project ManagerIgor Grigorenko
Project Manager
Kim Sung Bong Korea Community ManaKim Sung Bong
Korea Community Mana

About the project

The basic concept of the business model is the creation of a cryptocurrency wich will be backed up by real gold. Each token will not have a 'price tag,' but a 'weight' that will be directly tied to the volume of gold mined. Gold mining enterprise will be established in Northern Sudan with the support of the local government.As a result of geological exploration of the area experts from India found that the minimum degree of average mineralization of gold is about 7.5 g per ton of ore. It was also estimated that a fully functioning plant would be able to process up to 1500 tons of ore per day and produce approximately 10kg of gold per day.

The world's first blockchain option for gold mining project’s aim is to establish the high-technological and profitable gold-mining business in Sudan. Northern Sudan is known for its gold Mineralization potentiality, which was Known for long period since old civilizations by its mineral potentialities and exploration activities. The study area about 300 Km2.

The literature review shows that study area is located in an area of geology of promising gold mineralization potentiality zone. The concession area of the block in Northern State is under the name of GS Multi Activities CO. LTD 50% of the net income of the SG mining Co company generated from gold mining and sale will be used for buyback of Sudan Gold Coin (SGC) from tokens holders and creation of the decentralized gold exchange.

Financing will be raised by issuing and proposing the Ethereum based tokens during the ICO. The mining facilities in Sudan will be managed by the audited Dubai company - SG mining Co. The decentralized gold exchange will allow to use the SGC token as the main currency for purchasing gold extracted by the any mining company and cross-sale between the gold buyers/sellers, banks and other customers. The unique combination of real gold mining business and an integrated decentralized exchange will ensure the stable growth of the token price.

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