trending Market Intelligence /marketintelligence/en/news-insights/trending/T1RsB8XR_9nwLcRuC2xjWA2 content esgSubNav
In This List

Goldcliff Resource considering initial coin offering

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Goldcliff Resource considering initial coin offering

Goldcliff Resource Corp. is examining regulatory compliance requirements for an initial coin offering as part of an effort to introduce a digital currency based on gold.

The company said Dec. 7 that its plan incorporates its existing assets, the online DirectRoyalty crowdsourcing platform and the Pine Grove gold project in Nevada.

Goldcliff hopes to use its 40% interest in the Pine Grove project as one of the initial sources of gold for the initial coin offering.

The company noted that the DirectRoyalty platform will be reconfigured on blockchain technology to facilitate users' ability to receive and distribute funds in digital currency.

Gold producers will receive a discounted upfront payment for a set amount of gold to be delivered to third party custodial agents as produced, over a predefined duration, while tokens purchased will entitle holders to a distribution from the owners' share of the platform.

Goldcliff is in discussions with other gold operations that could also be included in the offering.

The EU's markets regulator issued warnings last month to investors and firms taking part in initial coin offerings, highlighting the risk, after the U.K.'s financial regulator issued a similar warning in September.