Documente Academic
Documente Profesional
Documente Cultură
INTRODUCTION
Three years ago, in 2015, three entrepreneurs, decided to leverage a unique opportunity to start a gold
mining operation in Sudan. One of the partners is a mining engineer with relevant know-how and
management skills, other partners have gorgeous experience in business development and
international trade. All investors financed, out of their own funds, the acquisition of the mining
concessions, the drillings to test and prepare the ground, agree on employment of professionals for the
start period. Considerable effort has gone into finding the right mining professionals, into obtaining all
required mining licenses and obtaining alignment and support from Sudan governmental instances.
By 2017, the company had successfully managed to come to mining stage and now and preparing to ICO
for blockchain option for gold mining. Please note, that this document does not constitute to be a
prospectus of any sort, is not a solicitation for investment or an initial public offering or share/equity
offering and does not pertain in any way to an offering of securities, investment or profit sharing in any
jurisdiction.
General Concept
The world's first blockchain option for gold mining project’s aim is to establish the high-technological
and profitable gold-mining business in Sudan.
Northern Sudan is known for its gold Mineralization potentiality, which was Known for long period
since old civilizations by its mineral potentialities and exploration activities. The study area about 300
Km2. The literature review shows that study area is located in an area of geology of promising gold
mineralization potentiality zone. The concession area of the block in Northern State is under the name
of GS Multi Activities CO. LTD 50% of the net income of the SG mining Co company generated from
gold mining and sale will be used for buyback of Sudan Gold Coin (SGC) from tokens holders and
creation of the decentralized gold exchange.
Financing will be raised by issuing and proposing the Ethereum based tokens during the ICO. The
mining facilities in Sudan will be managed by the audited Dubai company - SG mining Co. The
decentralized gold exchange will allow to use the SGC token as the main currency for purchasing gold
extracted by the any mining company and cross-sale between the gold buyers/sellers, banks and other
customers. The unique combination of real gold mining business and an integrated decentralized
exchange will ensure the stable growth of the token price.
SUDAN GOLD COIN
TABLE OF CONTENTS
INTRODUCTION …………………………………………………………………..…………………………………….. 1
General Concept ……….………………………………………………………………………….……………….. 1
INFORMATION ABOUT THE PROJECT…………………………..…………………………………….. 3
Roadmap …………….……….………………………………………………………………………….……………….. 3
Project advantages …..………………………………………………………………………….……………….. 3
2 SUDANGM.COM
SUDAN GOLD COIN
INFORMATION ABOUT THE PROJECT
Roadmap
Up until now, we do have existing gold mine that operates in the regular non-high-technological way.
At the first stage, all money raised from the ICO will be used for an integration of modular concentrating
complexes for gold mining. The roadmap of the project includes the following main stages:
Q2 2017
Start of the Q VIII
project
= $14.4
Q3 2017 Q VII
Successful = $0.5
pre-ICO = $12.28
Q VI
Q1 2018 = $10.16
= $0.75 - $1
ICO QV
Q2 2018
= $8.04
Developing Q IV
Modular Mining
= $5.92
Q3 2018 Q III
Facility starts to
produce gold
= $4.44
Q II
Q3 2018 = $2.96 The price of the token will grow because
Gold exchange
QI the ratio of token to gold (the tokens'
based on Blockchain
technology "weight") will change. It will happen after
= $1.48 each quarter of mining and will be fixed on
Q4 2018
the blockchain.
Gold exchange
Project advantages
+ One of the first projects is combining blockchain technologies and real production sector with
high transparency and fair distribution of the profit.
+ Highly professional, balanced and committed team of professionals involving IT, IT security
experts, legal advisers, gold miners and engineers, and marketing specialists.
+ Unique flat decentralized gold market - which allows to trade gold from small mines from one
side and connect a lot of independent traders and financial institutions.
+ Agreements with the number of leading marketing agencies for assistance in marketing and
promotion of the ICO through existing base of more than 50,000 active investors.
3 SUDANGM.COM
SUDAN GOLD COIN
ICO PLAN AND ASSETMENT
General ICO plan
Dubai SG mining Co is planning to raise from $3 to $16.5 million till the end of 2017. The ICO plan is the
following:
● 20 million tokens will be emitted by the ETH blockchain, without the possibility of additional
emission.
● The minimum amount of ICO is $3 million, the target amount is $16.5 millions. Tokens could be
purchased by the investors with the use of the major cryptocurrencies (BTC, ETH, LTC, Waves,
etc.) or with the fiat currencies (debit cards or wire transfer).
● Tokens will be sold through the Ethereum based smart contract, in order to ensure full
transparency and proper recording of all receivables and investor's shares.
● All investors will be able to track and monitor the purchases through the investors back office.
● All fund received from investors will be secured with the Escrow, in the wallet with the 2 of 3
signatures system. Escrow guarantors will provide a refund in case if the minimum amount of
ICO is not reached.
● After ICO completion, all accumulated funds (e.g. BTC and ETH) will be used for financing Dubai
SG mining Co, which will invest and manage the mining facilities in Sudan.
● As the committed partner, Dubai SG mining Co will be getting revenue from Sudan Gold
investment Co and will be obligated to use the half of the net income for buyback of the tokens
from the market or exchange then into bank gold certificates.
4 SUDANGM.COM
SUDAN GOLD COIN
Escrow
The ICO funds will be held in a 2-of-3 multi-signature Vault. Each escrow will hold one of two necessary
keys for withdrawing funds and the Sudan Gold Coin developers will also hold one. We have decided to
use a multi-signature vault in order to secure and maximize the trust that our investors have in us as a
team. By using this vault, the invested funds can only be withdrawn if two of the three signers agree.
Our escrow conditions:
● All funds raised during the ICO must go directly to the multi-signature Escrow wallet.
● If the core team is not online or not responding to messages for a period of seven (7) days or
more, a refund will be initiated.
To make refunds possible, the Escrows will have the access to the email address, will monitor the
amount of Crypto-currencies invested per account and the Crypto-currencies address supplied by the
user for the refund.
● Token will be always tied to the weight of the gold, with the basic ratio - 10 tokens = 0.5 g of the
gold (i.e. 1 token = 2 USD).
● Depending on the amount of gold extracted and financial result of the Dubai SG mining Co, the
token to gold ratio will be changed.
● Dubai SG mining Co will announce the financial results and respectively the token to gold ratio
will change .
● According to budgeted estimations (please see Financial Data section below), based on
proposed mining operations, Dubai SG mining Co shall allocate: 40,000,000.00 USD for tokens
purchase after the first year of mining; and 60,000,000.00 USD for tokens purchase after the
second year of mining.
● Shall the budgeted results achieved, the token to gold ratio will be established at the level of: 10
SGC tokens = 0.5 g of the gold (i.e. 1 token = 2 USD) 10 SGC tokens = 0.75 g of the gold (i.e. 1 token
= 3 USD).
5 SUDANGM.COM
SUDAN GOLD COIN
.
✓ In practice, SGC tokens to gold ratio and price will also increase each year, because of reduction
of the SGC tokens quantity after each buy-back.
✓ It is planned that the at the end of the first year of mining, Dubai SG mining Co will provide
option to exchange of the tokens to a banking gold certificates in selected location of the world
(e.g. Dubai, Switzerland, etc.).
✓ All SGC tokens purchased-back by Dubai SG mining Co from the market or exchanged for
banking gold certificates will be burned.
BUSINESS STRUCTURE
✓ All fund received during the ICO contributed into the statutory capital of the Dubai SG mining
Co.
✓ The Dubai SG mining Co controls the 100 % of the Sudanese company (for purposes of operative
financing, payment of salaries to key technical staff, and possibility of influencing the
management decisions of the Sudanese company).
✓ Dubai SG mining Co purchases the mining equipment in China and leases it to Sudanese
company
✓ Sudanese company extracts gold and after paying taxes exports to the United Arab Emirates to
Dubai SG mining Co.
✓ The Sudanese company remits the leasing payments to the Dubai SG mining Co through
provides the mined gold versus leasing payments and dividend 50% of the net income Dubai SG
uses for buy tokens from the market or exchange them for bank gold certificates.
✓ For business expansion purposes (development of new gold mining sites, creation of the gold
bank, decentralized gold exchange platform, etc,) the Dubai SG mining Co may announces new
ICO .
6 SUDANGM.COM
SUDAN GOLD COIN
ABOUT THE GOLD MINE
Regional geology of the study area
The study area is composed of metavolcanics and metasediments that are intruded by I-type and A-
type granitoids. Little is known about the basement geology around site. Relatively recent contribution
on the geology of the northern Sudan concentrated in Halfa terrene which contains both juvenile
Neoproterozoic crust and high-grade early to middle Proterozoic gneisses, mainly west of the Nile, with
pre Pan-African crustal heritage. In the area around North Dongola five basement rock units can be
recognized as Schist and strongly foliated gneisses in the south and west, overlain uncomfortably by
less deformed supracrustals including with a sequence of metasediments and predominantly felsic
metavolcanics. The three units are intruded by syntectonic, foliated granodiorites and post-orogenic
alkali granite.
7 SUDANGM.COM
SUDAN GOLD COIN
Geochemical observation
As a result of collected chip samples from the above mentioned zones from field observations, samples
revealed hydrothermal alteration in the form of pyritization, sulphide mineralization and carbonization
prompted for geochemical analysis, samples show gold with various concentrations, ranging between
0.1 ppm to 18.6 ppm.
Surface Trenching
Over 111 trenches are typically excavated into bedrock with a total length 4460 m, average depth of
2.0-3.0 meters and a width of 1,5-2.0 meters, using an excavator. Loose rock is cleared away from the
floor of the trench to expose a clean smooth bedrock surface. Sample intervals, typically two meters in
length, but variable depending upon the nature of the mineralization and bedrock. These trenches
exposed the altered and mineralized trend of the Main zone.
Some of the trenches were excavated to investigate the east and west strike extension of the
mineralized shear zone. The geological description of trenches show that the rock type hosted the
mineralization is green schist composed by meta-volcanic (andesite mainly and pyroclastic) and
meta-sediment. The mineralization was controlled by a ductile brittle shear zone cross cutting the
meta-sediment and meta-volcanic with strike of E 30 and semi -vertical dip. This structure acts as drain
of hydrothermal fluids. Under the combined action of hydrothermal circulation and deformation, the
rocks in this structure undergo mineralogical transformations that depend of the initial composition of
the rocks. On the east, a Biotite Muscovite granite intrusion is observed, some pegmatite and granite
dykes in the same strike of shear zone. The alteration presented in the shear zone is kaolinisation and
sericitisation The samples collected from the trenches returned highly anomalous gold analytical
results from a shear zone with fine stringers of quartz vein. Chip samples were taken along a line
perpendicular to the mineralized trend. This worked well in areas of good exposure of outcrop and even
sub-crop and near-surface float. A total of 665 samples were collected from this area. Reconnaissance
traverses, prospect mapping, and target delineation. Rock chips were crushed to 15% passing 2mm with
a nominal 250 gram split, pulverized to 15% passing 75μm, and were then assayed by aqua regia
digestion methods using AAS device.
8 SUDANGM.COM
SUDAN GOLD COIN
Resource estimation is used to determine and define the ore tonnage and grade of a geological deposit,
from the developed block model. There are different estimation methods (see below) used for different
scenarios dependent upon the ore boundaries, geological deposit geometry, grade variability and the
amount of time and money available. Typical resource estimation involves the construction of a
geological and resource model with data from various sources. Depending on the nature of the
information and whether the data is hard copy or computerized, the principal steps of computer
resource estimation are:
− Geostatistical analysis.
Bench dimensions
The bench design is followed as per bench elevation at 10m interval with 75º slope and Haul roads are
designed at 10 % gradient with a width of 12 m on exposed grids/triangles keeping batter slopes at 57
degrees cut and 36 degrees fill. Proposed area of overburden dumping is chosen to be about 300m north
of mine area. Dump design is made for every stage of the project keeping the dump deck height as 30m,
dump slopes at 28 degrees and berm width as 30 mtrs for allowing safe transport.
9 SUDANGM.COM
SUDAN GOLD COIN
Mining equipment
Mine production equipment provided by GS Multi Activities CO. LTD
A) Quarrying and mining machines and mechanisms : 4 excavators (1.2 m bucket width) and 6 trucks of
30 tons, 1 grader, 2 Loaders, 1 dozer and 1 drilling machine for blasting and grade control purposes.
B) CIL (Cyanide-In-Leach) equipment : I. Crushing system (Chute feeder, Jaw Crusher, Belt conveyor,
Submerged pump) , II. Grinding and Classifying system (Belt conveyor and Electronic belt scale, Ball
Mill, Screen, Slurry pump, Hydrocyclone) , III. Leaching and adsorption system (Trommel screen,
Thickener, Flocculant mixing tank, Slurry pump, Leaching tank, Safety screen, Carbon lifting screen,
Reagent mixing tank, Root blower) , IV. Desorption system , V. Electrolysis system , VI. Smelting system ,
VII. Tailing and wa Electrolysis system , VI. Smelting system , VII. Tailing and water-supply system.
C) Heap Leach equipment (Leaching and adsorption system, Desorption system, Electrolysis system,
Smelting system, Tailing and water-supply system).
Mining by conventional open pit methods of drill and blast followed by load and haul will be employed.
Drilling and blasting, when need, will be performed on 5m benches. Loading of the material will be
performed on two 2.5m flitches. The mining fleet will consist of hydraulic excavators with bucket
capacity of 1-1.2 m3, and off highway trucks with 30 t capacity. Rigid frame diesel trucks and their
mechanical capabilities are well respected, Waste material will be hauled to the one allocated waste
rock dump positions to the north of the pit. Some waste material will be required for infrastructure such
as the tailings storage facility. As a considerable fraction of the oxidized overburden is considered to be
softer than the underlying fresh rock, an estimated 100% of the oxidized material will not require
blasting and will “free-dug”, or ripped with a dozer. The pit configuration bench height and waste
material type anticipated at the project suit drill rigs capable of drilling drill holes with a diameter of 89 -
105mm. Drill burden, spacing and sub-drill design will be functions of the varying material types of the
deposit.
An emulsion based product with water resistant characteristics and a higher velocity of detonation is
recommended to achieve a better fragmentation. The blast pattern is dictated by the powder factor
required to ensure appropriate fragmentation and heave. The selection of the powder factor is based on
the Unconfined Compressive Strength (“UCS”) measurement results obtained from the preliminary
excavation characterization work. For weathered material the UCS range is between 8 MPa and 12 MPa,
which suggests a very weak rock. For fresh material the UCS range is between 28 MPa and 80 MPa,
which sug gests a weak to moderately strong rock.
10 SUDANGM.COM
SUDAN GOLD COIN
Processing Heap Leach
Heap leaching facilitates the profitable extraction of gold from very low grade ore. Prior to heap
leaching, either run of mine (ROM) or crushed ore is heaped into structures 10 to 20m high that are
stacked on an impermeable layer. A dilute cyanide solution is sprayed on the heap, percolates through
the pile and dissolves the available gold. The solution is then directed into a pond. The cyanide solution,
which is said to be “pregnant” with gold, is then pumped through columns where the gold is recovered.
Cost-effective heap leaching offers a number of advantages, including:
● Comminution costs are reduced as the ore is only crushed, not ground.
● The cyanide solution is recycled through the heap, reducing the amount of cyanide used in the
operation.
● The process is especially suitable for lower grade ores and ore with a high clay content.
A typical heap leaching operation consists of an open pit mine, a mill to process some or all of the
heaped ore, a flat area with an impermeable foundation where heaps are built, a barren solution pond
containing cyanide solution ready for heap spraying, a pregnant pond containing cyanide solution
draining from the heap area, a carbon adsorption process plant for precious metal recovery from the
pregnant solution, a laboratory for the analysis and classification of ore and accounting of “values” in all
process streams, a mainte of ore and accounting of “values” in all process streams, a maintenance area
for repairing trucks, tractors, drills, pumps and other mine equipment and a mine administration
building. Ore is hauled from the mines to either the heap leaching area or the milling plant depending
on ore grade and mineralogy. In either case, ore eventually finds its way into a heap and is sprayed with
a weak NaCN solution pumped from the barren solution pond. The cyanide solution percolates through
the heaped ore becoming “pregnant” with precious metals and drains from the heap into lined run-off
ditches. The pregnant cyanide solution collects in the pregnant solution pond. Pregnant solution is
pumped from the pregnant solution pond into the precious metal recovery plant which is a
Merrill-Crowe or activated carbon adsorption unit. The now barren cyanide solution is pumped to a
holding basin, where lime and cyanide are added to repeat the leaching process.
In the carbon adsorption unit, the activated carbon adsorbs the gold and silver. Gold bearing carbon is
chemically treated to release the gold and is reactivated by heating for future use. The resultant gold
bearing strip solution, more concentrated than the original pregnant cyanide solution, is treated at the
process plant to produce a dore, or bar of impure gold. The Dore is then sold or shipped to smelter for
refining. Heap leaching is chosen for basic financial reasons for a given situa Heap leaching is chosen for
basic financial reasons for a given situation; it represents the best return on investment. For small
operations or operations with limited capitals.
11 SUDANGM.COM
SUDAN GOLD COIN
Heap Leach
CIL(Cianide-In-Leach)
12 SUDANGM.COM
SUDAN GOLD COIN
Financial data
Basic financial data
Basic financial data presented in below table.
13 SUDANGM.COM
SUDAN GOLD COIN
ICO Features
ICO Token Structure:
SGC is planning to release 20.000.000 tokens without additional releases. You can see token
distribution plan here:
90% ICO
2,5 bounty
2,5%Pre-ICO
Project Structure:
The whole project will be divided into 4 stages, they can be seen on the graphic under below:
After ICO
ICO
Private Sale
Pre-ICO
14 SUDANGM.COM
SUDAN GOLD COIN
MARKET
The gold market is highly liquid and benefits from terminal markets (London, New York, Tokyo, Hong
Kong) on almost a continuous basis. At present, the gold prices were in downward trend from 1980 to
2000 where it hit bottom and initiated a rapid upward trend that moved spot prices in excess of
$1800/oz. momentarily in 2012. Analysts forecast continued strength in the gold price based on little/no
growth in global mine production and now the price is 1250 /oz.
Gold Certificates
All golds have a Certificate by default. The client has thus the guarantee that she buys no gold of unclear
origins.
Registering on Blockchain
Name registers the gold and its characteristics on the Ethereum Blockchain fork using our token Sudan
Gold Coin or SGC. The registration on the blockchain creates full transparency about the gold,
worldwide.
Gold purchase
The client purchases the gold from the seller. For all purchased gold smart contract generates official
document of gold owning.
Audience:
Please for smart investors for easily diversify their portfolio Owner of gold mines to have independent a
sale channel Sceptic of Banks who wants secure alternative to cash.
15 SUDANGM.COM
SUDAN GOLD COIN
Benefits:
Liquidity for mines owners. Instead of selling gold to the central banks with their own prices and rules -
you could connect to sellers directly. Private, secure and efficient transactions Token transactions costs
are extremely low. Military-grade algorithms encrypt your Identity during transactions. The Blockchain
Technology of Gold is open-source. Thus, there are no backdoors, not even for Government authorities.
Inflation protection An elaborate and consistent hard-coded ruleset ensures that Tokens always stay
linked to their collateral.
PROJECT TEAM
Ukranian team Sudanese team
16 SUDANGM.COM