Last checked at 8 Sep 2017 12:12
Eurasia Mining plc (AIM: EUA)
("Eurasia" or the "Company")
Memorandum of Understanding signed with GoldMint PTE LTD
Eurasia, the platinum, palladium, iridium, rhodium and gold production company, is pleased to announce it has entered into a Memorandum of Understanding with GoldMint PTE ("GoldMint"), a Singapore based Limited Company. It is agreed that where Eurasia identifies potential exploration and mining projects it may choose to collaborate with GoldMint on financing all or part of these projects, and ultimately managing all or part of the mine output. The agreement may also be applied to Eurasia's current projects and interests.
GoldMint are developing a platform on which to establish a new means of managing physical gold assets, by applying blockchain technologies to make transactions backed by physical gold more fluid.
At this stage there is no specific understanding on the terms that any financing might take and neither party are obligated to progress on any venture, further updates will be provided in due course as appropriate.
Enquiries:
Eurasia Mining Plc
Christian Schaffalitzky/Michael de Villiers
+44 (0)207 932 0418
WH Ireland Limited
Katy Mitchell/James Sinclair-Ford
+44 (0)161 832 2174
Beaufort Securities
Elliot Hance
+44 (0)207 382 8300
Blytheweigh
Tim Blythe/Camilla Horsfall
+44 (0)207 138 3204
About Eurasia Mining
- Eurasia is an established and diversified mining and exploration company with an operating Mine in the Ural Mountains. Separately, approved Reserves and Resources within the Monchetundra Project on the Kola Peninsula comprise 1.9 million ounces palladium equivalent (Russian standard C1 and C2 categories). In addition, Eurasia maintain an interest in the Semenovsky Gold in Mine Tailings Project, a project demonstrating near term gold production potential.
About Gold Mint
- GoldMint, and the GoldMint board of directors and advisors, demonstrate significant experience in the emerging world of blockchain technology, their creative vision to redefine the architecture of the physical gold market, by creating the infrastructure necessary to allow physical gold to be traded faster, more efficiently, and more transparently represents a paradigm shift for the entire gold industry.
- Goldmint has evolved from the successful Russian high street gold management and lending business Lot-Zoloto, and the realization by its co-founders Dmitry Pluschevsky and Konstantin Romanov, that blockchain technology can be applied to that business and expanded upon to encompass further international gold markets, making transactions in physical gold more accessible, efficient and transparent.
- GoldMint intends to launch a new means of exchange for physical gold, with transactions managed over the blockchain based platform but backed 100% by physical gold. It is intended that this platform will access the private and individual gold trading market and potentially the management of larger physical stocks such as those in central banks. It is also intended that this will provide an electronic payment solution backed by physical gold and a system for gold backed peer to peer lending.
- For more information on the GoldMint ICO readers are directed to the following web address; www.goldmint.io
About BlockChain
Blockchain and Blockchain technology area distributed ledger technology consisting of a list of records or blocks, timestamped in series and secured cryptographically. The platform was originally devised for the digital currency Bitcoin but has now found further application most notably in adding the concept of a smart contract to what was initially a transaction in value only. Each block typically contains a hash pointer as a link to a previous block, a timestamp and transaction data. By design, blockchains are inherently resistant to any modification of the data.