goldea-ico-review
Company: Goldea
Industry: Gold Mining / Precious Metals Exploration
Website: https://www.goldea.io/
Whitepaper https://www.goldea.io/docs/goldea/actual/GOLDEA-WhitePaperEng.pdf
Headquarters: Serbia (mine location, Mali)
Token: GEA
Platform: Ethereum
ICO Timeframe: 12/01/17 – 03/31/18
Token Supply: 3,000,000 GEA (77% Crowdsale)
 Score:  34/100

 

GOLDEA, intends to democratize investing in gold mining with higher standards in terms of transparency and voting feature of each investor.  Through the use of smart contracts GOLDEA’s platform intends to minimize and circumvent many of the problems in the mining industry associated with bureaucracy, red-tape and budget discrimination.  GOLDEA’s platform will bring together developers and investors aiming to realize the gold mining projects together. GOLDEA is offering the GEA token; its value intrinsically tied to profit generated by the company over time at a discount rate, much like a traditional equity.  The GEA token will be allow individuals to invest in the exploration and mining of gold deposits, while eliminating intermediary costs, formal barriers, technical obstacles and personal disclosure.

 

PROS:  Management team has relevant experience and connections within Africa and particularly the gold mining industry, feasibility study of potential mine has been submitted (albeit by a party with conflict of interest) and looks promising, asset backed venture that is highly unlikely to go to $0 valuation, token buyback program.

 

CONS:  Political instability, corruption and intervention are serious concerns for the mining industry, no ability to reasonably assess yield of project without large upfront capital expense (high risk), repeatedly claims that it is extremely difficult to access / invest in gold when that is not true, does not maximize / take full advantage of blockchain technology, ICO looks more like a traditional capital raise, extremely limited breakdown of expenses / use of funds.

 

SCORE:  34/100