*Updated the 28th of December of 2020

All those interested in crypto investments will be intrigued to know that Blue Hill Mining Project has taken a very positive turn, by communicating that it has drastically reduced the financial needs of the project for the achievement of its objectives.

This reduction in financial needs has gone from an initial US$38M to US$7M. This is achieved by a new and improved usage of an exploration technology that requires less financing to carry out the project. The value of the BHF-Tokens (140 Million of BHF-Tokens) covers the financial requirements (Hard-Cap) of the Blue Hill Mining Project. Therefore it is not necessary to issue more Tokens (compared to the initial 700M of future security Tokens proposed).

Furthermore, the Blue Hill Platform will be financed by the Liquidity System at a later stage in the roadmap, which further reduces the initial financial requirements.

Let's go into detail

The most important turning point is related to the mining exploration processes, which is usually extremely expensive in the industry and the time they take to give results is never fixed or easy to estimate (which were defined the financial requirements that Blue Hill Mining Project intended to achieve through a project’s tokenization).

As partner of the Blue Hill Mining Project, Swiss Asian Resources is giving more than just liquidity (via Liquidity System); as it has also signed an agreement with an edging cut technology company consisting in a very new usage of a Scanning technology, which reduces the amount of drillings necessary for this in the traditional industry. Swiss Asian Resources will provide the Blue Hill Mining Project with a Scanning Technology Service to make a more efficient scanning of Blue Hill Mines (Scanning Program), as it has already performed on most of its other mining exploration licences.

This implementation of this technology into a Scanning Program in Blue Hill Mining Project implies a drastic reduction of exploration costs and a more effective and complete valuation of the mining exploration licences, since less drillings are needed to detect the type and amount of minerals when using this scanning technology, and also less time to get to the information of the ground.

Benefits of the scanning technology for the Blue Hill Mining Project are:

  • It increases the effectiveness of the Liquidity System by implementing a faster exploration in the mines to enable its purchase/sale in greater margins and less time.
  • The cost of exploration of Blue Hill Mine is reduced, avoiding large investment, by doing the drillings faster and more effectively by analysing the ground with the scanning technology.

There is further good news, the reduction of future security tokens to be issued and the relationship between the Blue Hill Mines tokenized percentage (reduced from 30% to a 6,24% in the initial mining licenses) improves the co-ownership percentage of the Blue Hill Mines in each future security token, from an initial 0.0000000428% to a 0.0000000445% per token. This way, the future security token holders will have a higher co-ownership of the Blue Hill Mines portfolio in each future security token.

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