DMX has created 440 digital commodity tokens representing 44,000 oz of gold (nearly USD 88 million at today’s spot price) discounted by 14 to 18%, for gold from NuFortune’s Radio Mine and Lindsay’s Mine, located in Western Australia.
The pre-sale of the tokens is currently open and there has been healthy investor interest. On reaching full subscription, these digital assets will begin trading live on DMX’s institutional grade commodity trading exchange.
Perth-based NuFortune Mines is committed to environmentally responsible production of certified “Clean Gold.” It is Australia’s first Zero Cyanide Mining™ Clean Gold producer, and uses processes which eliminate the use of cyanide or mercury from the production cycle. Both classes of chemicals are commonly used in gold production, and their use has, historically, resulted in significant environmental degradation in many mining locations. The process also eliminates hydrochloric acid and carbon. In its drive to become “the world’s first truly environmentally friendly gold miner“, NuFortune has partnered with technology innovation firm Clean Earth Technology to use its non-toxic reagents in the extraction of gold. This makes the forward sales from NuForture’s mines available for ethical investment funds and, in the future, for ESG offsets (similar to carbon credits).
Digital Metal Exchange (DMX) provides mine operators and asset owners such as NuFortune with the ability to fund their exploration and development through discounted forward sale of some of their future production. Through its Asset Monetisation Process™, DMX creates digital assets backed by a particular quantity of metal. These tokens are offered for sale to investors and are listed on DMX. This process offers a funding source for the promoters and a liquid marketplace for the tokens. With clear provenance of the resulting metal built into the process, gold offered for sale by the DMX client mines carries the DMX Single Origin Gold™ certification.