Moria is a groundbreaking project that combines the proven investment vehicle of gold mining with the latest in blockchain infrastructure
CENTRAL CITY, Colo. (PRWEB) January 18, 2018
Moria, the world’s first royalty paying decentralized investment platform targeting the field of precious metals extraction is now available for qualified investors.
Moria is a groundbreaking project that combines the proven investment vehicle of gold mining with the latest in blockchain infrastructure. As such, it is the first cryptocurrency that has value in and of itself because it pays royalties based on gross revenues of an existing Colorado gold mine with a long history of producing tens of thousands of ounces of gold.
Moria has the unique quality of paying quarterly royalties to Token holders commencing in the first quarter after the close of the securitized ICO.The Moria Token takes some of the best attributes of crypto-currency and corporate bonds, combining them to give investors opportunities for gain in the Tokens themselves as well as an income generated from gold mining revenue earned by GS Mining Company LLC, the issuer of the Moria Tokens.
Token holders (both ICO and subsequent purchasers) will receive pro-rata quarterly payments equal to 10% of the Company’s previous year’s gross gold mining revenue capped at an amount which equals 20% of the ICO price per Token. These royalty payments will be made quarterly. In the event revenue is insufficient to make a full annual 20% payment, the deficiency will accrue, be carried over and paid from future revenues, thus guaranteeing a 20% annual payment. Notwithstanding such payment structure, for the 18 months following the ICO, all token holders will receive quarterly payments at the annual 20% rate. All payouts will be made in Ether and paid to Token holders by means of the Company’s blockchain technology.
GS Mining Company operates the Bates Hunter gold mine in Central City, Colorado. It extends over 35 acres of ground cover and consists of a series of proven gold veins. There is an approximate eight-hundred-foot shaft in place, with past mining only to the 300 foot level. Other area mines have extended recovery to 2200 feet. Expert reports of the Bates Hunter mine infer substantial gold resources at lower depths. Current reporting and vein mapping put the future potential value (just to 2000 feet) at over $2 billion, with potentially billions more at greater depths.
The Moria ICO is an opportunity for investors around the world to participate in the Company’s revenue generation through ownership of Tokens, which not only pay royalties but have the potential to increase in value like other cryptocurrency. The Moria Token is offered under onshore and offshore exemptions from U.S. registration requirements. For the initial sale, U.S. accredited investors and all non-U.S. investors, subject to their local laws, will be eligible for participation in the Moria Token sale. The Moria Token is issued by GS Mining Company and managed by Ethmint LLC.
Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “infer”, “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain