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    • By Goldpax
      Better money for all
      Right now, asset-backed tokens are solving many of the devaluation problems that come from other tokenization methods. This is largely due to the tangible value tied to the token and how that affects volatility and intrinsic value.
      Gold is money, and for 5,000 years, it has been used as a medium of exchange. Gold, as an asset class, has one of the richest and longest histories of all the natural assets to have been bestowed with such high value by humankind. So if we can tie the value of gold to a token, you have a unique way to protect against impending doom and enforce stability in the system.
      Just as the Internet revolutionized information flow, the blockchain will revolutionize information validation. Mass disintermediation will be the next quantum leap in human productivity. Blockchain is poised to eliminate 99% of the friction involved in transacting in real things, such as gold, silver, and other commodities, displacing all who are currently employed in those frictional processes.
      People that are calling cryptocurrency the next money and currency are missing the bigger picture. When you combine gold, which is one of the oldest forms of payment, with a technological and financial advancement like asset-backed tokens, you have the best of both worlds. Transacting on the blockchain will give gold asset-backed crypto-tokens tremendous value, in the same way that the global oil trade in US dollars gave the US dollar its throne seat for over forty years – people are forced to use it. 
      How Fiat currencies are Tied to their government’s economic performance
      If you can understand this fundamental concept, then you can understand why cryptocurrency isn’t mean to be the new “money” – it’s meant to be the new platform for money. Gold is deemed to be a tangible commodity and is one of the most persistent and durable products. 
      Some might be shocked to hear this, but the annual gold trade, including all estimated over-the-counter (OTC) transactions, is estimated to be more than $USD 22.0 Trillion as of 2016. Gold is the de facto backbone of the financial system, and it always has been. It still is the best money, because its value as money is immutable and inherited from its properties as an element. Just because it may not be easily tradeable in our current commercial climate doesn’t mean it can’t serve as money. 
      Because gold doesn’t move around, it stands to gain a lot from being transitioned onto the blockchain. One of the highest costs and concerns with gold is storage, moving it, and keeping track of it. If there is one thing in current times that could benefit from a distributed ledger and disintermediation on the scale that distributed ledger technology promises, it’s gold. The gold trading industry probably represents one of the best candidates for disruption with blockchain.
      Blockchain may serve as a facilitator and a liquidator for the gold trade by creating a gold-supported currency. And by using the Ethereum blockchain, which allows smart contracts, any contractual conditions of the currency could be easily verified. This is exactly the goal companies like Garnex are aiming for. By combining the best of both worlds – fiat currency and cryptocurrency – they intend to create a gold standard for the modern age. 
      What happens when we face extreme levels of inflation?
      The world today feels like it’s becoming more disjointed and uncertain than ever. Financial shocks and geopolitical crises are becoming more frequent, just as new technologies like blockchain hint of a more transparent future. With all these changes at play, we feel that people, organizations, and governments deserve a currency that hedges against this uncertainty. 
      A currency that will have a reliable value in times of crisis and instability. We believe that cryptocurrencies and governments can not only co-exist together but can serve to empower and make the other better and more efficient.
      One of Garnex’s top priorities is security. In order to ensure the platform is secure, its infrastructure and smart contract code have been reviewed by top security auditors and bug bounty hunters. During the process, extensive penetration testing was performed. These tests proved fruitful and Garnex was able to fix some vulnerabilities in the Garnex web API and smart contract that should lend greater confidence to their infrastructure and security.
      The role of Garnex in the real world 
      All of the above information shows the market gap that gold-supported currencies could fill, but it still needs to be explained why blockchain technology necessary for Garnex Gold Corporation’s solution.
       
      The top benefit of blockchain in this instance is that it enables users to hold fractional ownership of gold. The ability to hold, receive, and spend small amounts of their GLD currency makes it much more liquid and enables its use case as a medium of transfer.
      Additionally, ownership of the GLD currency allows users to transact with anyone in whatever currency they choose. Custody and control are no longer issues, and this creates a twofold effect. First, there is a much more liquid market for the currency since anyone can transact with it. Second of all, the worldwide accessibility of GLD currency allows for a greater user base and higher demand for the money. 
      If this sounds interesting, you should know that Garnex is currently running a giveaway campaign where the winner has the chance to receive 1 ounce of gold (worth approx. $1500 USD). Click here to check out the giveaway today!
    • By rose0531
      As at September 30, 2019, the Company had working capital of $1.4 million, which included cash and cash equivalents of $7.0 million. The cash balance reflects the completion of a non-brokered private placement in July 2019 for net proceeds of $4.5 million. Overall current assets decreased from December 31, 2018 due to a lower inventory balance, particularly of gold-in-circuit, and lower HST receivable due to the timing of payables. Trade and other payables were down from year-end, primarily due to the ongoing payments of invoices relating to the underground bulk sample at Goldboro. Current taxes payable relate to Newfoundland mining taxes and reflect the estimated amount payable based on the first nine months of 2019. The increase in other current liabilities reflects the flow-through premium recognized as part of the non-brokered financing completed in July 2019, which included $2.6 million of flow-through financing.
    • By rose0531
      The Sleeping Giant mine is located 80 km north of Amos in north-western Quebec, Canada. It is
      accessible via road 109 that connects Amos to Matagami. This is a paved road and it passes less
      than 1 km from the mine site. Material and services are available at competitive prices.
      The mine was exploited from 1988 to 2014. It has been maintained dry since its temporary closing
      in 2014 and no infrastructure has been taken out or added. Currently, the Sleeping Giant mill treats
      ore from the Elder mine owned by Abcourt Mines Inc. and occasionally, some custom ore. The mill
      capacity is 700 to 750 tonnes per day. The activated carbon process is used to recover gold.
      Historically, the gold recovery on the Sleeping Giant ore, at that mill is 97.5%.
      The tailings pond complies with all governmental regulations and the dykes and the quality of water
      are checked every year by an external expert. The tailings pond has enough capacity to receive
      the tailings from Elder and those from the Sleeping Giant mine as indicated in section 16 of the
      technical report. The setting pond at the discharge of the tailings pond is used to treat the
      discharged water according to the rules and to control the quality of the water.
    • By Tarak Bekoudj
      For those willing to invest in gold or precious metals, here is the link of the best and most trusted company worldwide. Gold you can hold.😏 Don't miss this golden opportunity, just click the link and sign up. The best comes next.
      https://regalassets.com/request-free-gold-investment-kit?id=18637
    • By karen145245
      Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF)
      (“Abcourt” or the “Mines Abcourt Inc.) announces that a technical report NI 43-101 entitled
      Feasibility Study on the Sleeping Giant Project was prepared by PRB Mining Services Inc. of Val-
      d’Or, Quebec, Canada.
      Here is a summary of this technical report(1):
      General and History
      The Sleeping Giant mine is located 80 km north of Amos in north-western Quebec, Canada. It is
      accessible via road 109 that connects Amos to Matagami. This is a paved road and it passes less
      than 1 km from the mine site. Material and services are available at competitive prices.
      The mine was exploited from 1988 to 2014. It has been maintained dry since its temporary closing
      in 2014 and no infrastructure has been taken out or added. Currently, the Sleeping Giant mill treats
      ore from the Elder mine owned by Abcourt Mines Inc. and occasionally, some custom ore. The mill
      capacity is 700 to 750 tonnes per day. The activated carbon process is used to recover gold.
      Historically, the gold recovery on the Sleeping Giant ore, at that mill is 97.5%.
      The tailings pond complies with all governmental regulations and the dykes and the quality of water
      are checked every year by an external expert. The tailings pond has enough capacity to receive
      the tailings from Elder and those from the Sleeping Giant mine as indicated in section 16 of the
      technical report. The setting pond at the discharge of the tailings pond is used to treat the
      discharged water according to the rules and to control the quality of the water.
      Geology and Mineralization
      The Sleeping Giant property is located in the central part of the north volcanic zone affected by
      major E-W and NW-SE corridors of deformation. The geological units in the mine area consist of
      basalt, andesite and volcano-sedimentary rocks. Mineralization is in disseminated sulfides, in
      veinlets or in small massive bands parallel to bedding. The best veins contain four types of
      sulfides: pyrite, pyrrhotite, chalcopyrite and sphalerite, which make up from 5 to 60% of the vein
      fillings. Beside gold, the veins contain silver and small amounts of copper and zinc.
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