MetalStream Executes Gold Offtake Agreement With Auraudium
MetalStream executes gold offtake agreement with Auraudium, providing a consistent and reliable source of refined gold bullion to back its MSGLD token.
KUALA LUMPUR, MALAYSIA, July 26, 2022 — MetalStream Ltd (LL16561,“MetalStream”) is pleased to announce the execution of a gold offtake agreement (“Agreement”) with Auraudium Ltd (“Auraudium”).
The execution of this Agreement between MetalStream and Auraudium adds significant value to Metalstream’s business. It provides MetalStream with a reliable source and a consistent supply of gold dore for refining in Dubai, purchased at a significant discount to the gold spot price. This will drive future earnings of MetalStream and provide a source of refined gold bullion to back its MSGLD gold-backed token.
Auraudium is in the process of acquiring additional precious metals mining concessions in West Africa and has expressed its intention to enter into further gold offtake agreements on these concessions, with MetalStream.
David Vincent, the CEO of MetalStream stated, “We are delighted to have completed this offtake agreement with Auraudium. The management of Auraudium has a demonstrated track record in successfully mining concessions in West Africa. This agreement provides MetalStream with a reliable and consistent source of gold dore for refining in Dubai, and purchased at a significant discount to the spot gold price. This will both generate good earnings for the MetalStream business, and provide refined gold bullion to back its MSGLD gold-backed token”.
Jacky Pluton, CEO of Auraudium commented, “Auraudium is excited to be getting involved in the crypto sector via MetalStream’s tokens, by providing a reliable source of gold dore, which MetalStream will purchase at a discount from Auraudium, and have it refined in Dubai.”
The MetalStream Model
MetalStream is transforming financing for gold miners through its innovative use of metal stream contracts and the tokenization of gold to be delivered under these contracts, by its security tokens issued on the Ethereum ecosystem. Security tokens represent the rights to assets, and offer an immutable and auditable record of ownership via the blockchain.
Liquidity is intrinsic to the MetalStream model as security tokens are more easily stored and traded than physical gold. MetalStream tokens can be traded either directly or via a digital security exchange in the future. The tokens are fully compliant with all relevant securities laws and regulations.
MetalStream Ltd (LL16561) is a company incorporated in the Labuan International Business and Financial Centre, Malaysia, which is an independent offshore financial jurisdiction regulated by the Labuan Financial Services Authority under the purview of the Ministry of Finance, Malaysia. MetalStream has assembled a team of industry leaders in mining, technology and capital markets to bring the benefits of tokenisation to the mining industry. Its core business is the issuance of security tokens fully backed by and redeemable for precious metals.
Further information about MetalStream can be found on MetalStream’s website at www.metalstream.io. Enquiries should be directed to email@example.com. The Labuan Financial Services Authority accepts no responsibility for the adequacy or accuracy of this release.
Auraudium Ltd is incorporated in the United Kingdom, and owns various precious metals mining concessions in West Africa, with a focus on Congo, Brazzaville. These concessions have been mined by artisanal miners in the past, and have demonstrated high grade gold veins in the bedrock and overlaid by thick alluvial deposits, with average gold grades from 3 to 10 gms per ton. Auraudium has mobilized mining equipment for these mining concessions, and expects first gold production in September 2022. Jacky Pluton, the CEO of Auraudium, has had significant experience with the mining of these types of concessions in West Africa.
This document contains forecasts, projections, goals, plans, and other forward-looking statements regarding MetalStream’s earnings and other data. Such forward-looking statements are based on MetalStream management’s assumptions, estimates, outlook, and other judgments made in light of information available at the time of preparation of such statements and involve both known and unknown risks and uncertainties.
Accordingly, plans, goals, and other statements may not be realised as described, and actual financial results, success/failure or progress of development, and other projections may differ materially from those presented herein.
Even when subsequent changes in conditions or other circumstances make it preferable to update or revise forecasts, plans, or other forward-looking statements, MetalStream disclaims any obligation to update or revise this document.
Unless otherwise specified, all financial data in this document is defined in USD.