The company OREToken is one of the first cryptocurrency projects in the world, which allows its customers to invest in the gold mining industry and to receive part of the profits from the extraction and saleof gold. Thanks to the blockchain technology, all owners of ORET tokens will receive their part of the profits weekly. The mining itself is carried out in the eastern part of Paraguay, near the town of Paso Yobai, on the territory of a gold-mining camp, which was reset in 1996 by local residents. The city of Paso Yobai is located about 150 kilometers east of the capital Asunson.
OREToken can be called a unique project that gives its investors the opportunity to invest in a profitable gold mining company. 45% of the net profit from the company's activities will be distributed among all ORET token holders. The number of tokens received will depend on the initial number of tokens in the customer’s possession. All gold mined at Paraguay Mineral Mining SA is sold in dollars, and 45% of the net profit from the sale is converted into Ethereum cryptocurrency. Once a week, a network snapshot is taken in order to fix the ethereum addresses of the wallets on which the ORET tokens are stored, as well as to calculate which wallet will receive how many tokens. After that, a smart contract is launched, which sends tokens to the owners.
Locals in a wealthy area of Paso Yobai made a deal with Latin American Minerals Inc. and agreed on the transfer of 83.36 hectares of land on which they have mineral rights. This program included 850 meters of gold mine, which is located on the anomaly of the gold soil with a length of 8000 meters and a width of 300 meters.
The area of 850 by 300 meters contains an average of 7.5 grams of gold per ton. For mining, local residents created the Association of Small Miners. The problem was that they practically had no experience in mining, and in the gold mining industry in particular. They used home-made gold ore recovery plants, from which only 30% of pure gold could be extracted. The remaining 70% of their equipment was not able to clean, resulting in labor productivity was extremely low, and mining was inefficient. More than half of the gold contained in the material was discarded with the waste. Such performance, however, still made a profit, until the depth of production did not exceed 15 meters. As the miners passed this deep line, mining costs rose to such an extent that the mine stopped making a profit. Therefore, the owners of the mine began to lease their land to entrepreneurs.
Some entrepreneurs built their gold-mining factories, with the help of which they managed to set up mining at a depth of up to 40 meters. But even in these conditions, they lost about 50% of pure gold, throwing it out with production waste. Their main problem was that many people who came to this territory in the hope of making money from gold mining had very little knowledge and experience in this area. This applies not only to entrepreneurs or mining workers, but also to investors who invested in inefficient business models.
Another significant problem is that not a single entrepreneur who organized mining here cared for the transport network for movement inside the mine and transporting the ore. As a rule, mining was carried out using self-made ladles, which raised only the ore that contained the greater amount of gold. The rest of the ore was removed step by step by an excavator. In some cases, the process of removal of waste ore from the mine took place in 8-9 visits and was very expensive. Moreover, after all this work, the mined wastes containing about 50% of gold ore were simply thrown away like waste materials.
All of the above problems have led to the fact that many companies due to low profitability were forced to close and leave. Well, the locals re-set the territory for rent.
The founders of the OREToken project put together an excellent team and created Paraguay Mineral Mining SA (PMMSA). The team, in addition to specialized experts, consists of 2 members who have the knowledge and experience necessary to mine and extract gold from it. The company's general director, Nikolaas Spangenberg, a native of South Africa, has more than 8 years of management experience in the field of gold mining. Juan Villalba has been specializing in gold mining and chemical recovery for over 9 years.
The team also has in its arsenal all the necessary geological studies and analysis of drilling the earth, which they are going to purchase at the mine. It is the acquisition, not the lease of land, that shows the serious intentions of the project team, as well as their confidence in the effectiveness of their mining technologies. In addition, their own analysis showed that this land does have a high gold content in the soil.
Project strategists have developed three production options, depending on how much investment will be attracted during the ICO. The goal is to collect from 2.5 to 6 million dollars:
- Achieving the upper limit of the goal will allow the team to buy 43 hectares of land in the territory of the camp Main Gold Vein Plus with all the necessary equipment and processing production.
- Gathering. 4 million dollars the team will acquire 32 hectares of land, also with all the necessary equipment and an established production line.
- 2.5 million dollars will allow you to buy 10 hectares of land, and the necessary technical and production facilities to start mining.
Regardless of which scenario the project is going to further develop, each of the three identified options for events implies a division of the acquired territory into 2 zones:
- Zone 1. Will be designed for alluvial gold mining. The process of mining will begin immediately after the acquisition of land.
- Zone 2 - the main mine. The launch process will take 3 months, during which tunnel infrastructure will be laid for the necessary communications and an efficient logistics system will be built.
To finance the project, the developers chose a modern funding tool, such as project tokenization and public sale of their tokens to anyone. The reason why the team did not attract investments from private investors is that they considered it the best option for the project to have a diversified community from around the world, so that anyone could take advantage of the company. The idea was to create a community driven project.
Customers have an interesting opportunity to invest in a gold mining company that will distribute 45% of its profits among ORET tokens holders. Thanks to blockchain technology with their smart contracts, distribution will occur quickly, efficiently and fairly. Depending on the initial ownership of the tokens, investors will receive a weekly proportional number of tokens as profit from the project’s activities.
The results of geological studies have shown that the average soil mineralization is 7.5 grams of gold 999 samples per ton of ore. Calculations show that the projected production will generate a net profit of $ 2,517,000 per month, of which 1,132,875 dollars will be distributed among holders of 12,500,000 ORET tokens. This is the number of tokens will be in circulation. Based on these calculations, the price of one ORET token will be $ 0.09 per month.
To keep abreast of the latest news of the project, you can visit the official site or subscribe to social networks:
✅Telegram chat: https://t.me/OREToken
✅Telegram ANN: https://t.me/ORET_Announcements
✅Bounty reward campaign: https://bountyminer.io/register?r=1158370766
The review is the personal opinion of the author, is based on information taken from public sources and is not a trade or investment recommendation.
My bountyminer username: icofuture