A unique token backed by mining and supplying of real gold. The cost is fixed in the metal weight, 1 SGT is equal to 1 gram of gold of 999,95 sample.
Our project offers a simple process of involving the blockchain in the real economy. The core economic idea: traditional risks of exploration and production of gold are exchanged for risks of volatility of cryptocurrencies and tokens (insecurity with valuable liquid assets and protection from inflation). The release of tokens is secured by a contract for the supply of goods. Fixing the risks ratio occurs in the price of the purchase of goods in the form of a discount from the market price and is fixed in a unit of physical mass. The commodity of the contract is gold, which is a universal measure of value.
The goal of the project is to release 1,000,000 (one million) SGT tokens to raise funds for the construction of the gold plant and to start the extraction of gold concentrate in Tanzania. Owners of tokens become co-owners of the Main Contract for the supply of gold. One token is equal to 1 g of gold from the Main Contract for the supply of physical gold in the amount of 1 ton (one ton or one million grams). The contract is signed with the local partner company for gold mining for the supply of gold in the period starting since the launch of the gold-recovery plant (the gold plant). The delivery time of the metal under the contract is December 2018 to March 2020.
The unit of mass of Precious metal is troy ounce which is 31.1034768 grams.
The purity of gold corresponds to the international standard "London Good Delivery".
The mass of pure gold in the gold ingot is from 350 to 450 troy ounces (10,886 g - 13,754 g).
The weight of each ingot is expressed in troy ounces and is a multiple of 0.025 ounces.
The purity of the metal is not less than 999 parts of chemically pure gold per 1,000 shares of the ligature mass.
The ingot is marked as follows: serial number, fineness, brand of the manufacturer, year of manufacture.
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