NatBridge Resources Ltd. is a gold mining company listed on the Canadian Securities Exchange. From its public filings, it seems that NatBridge has acquired various rights to parcels of land that contain gold, but it has never mined any gold. NatBridge has a better idea. […]
The theory seems to be that you get a technical report saying that your parcel contains gold — “Parcels 45 and 46 comprise approximately 12,290,139 tonnes containing an aggregate of 122,211 ounces of indicated gold resources, and 6,650 ounces of inferred gold resources at a 0.005 oz/ton cutoff grade” — and then you mint digital tokens representing that amount of gold.
And then you sell those tokens to, uh. To people who want digital tokens representing a certain amount of gold….
