Blue Hill Mining Project has made great strides in the project with its partners, Swiss Asian Resources and GWE Intech, who have played a crucial role in the early success of the project.
Swiss Asian Resources has contributed a significant saving in the project financials partly thanks to the satellite scanning service, as well as the success of the liquidity system that enabled Swiss Asian Resources to place an additional 4 mining exploration licenses towards the project in exchange for all the remaining tokens. This makes a total of 6 mining exploration licenses directly benefiting all our token holders. Plus, our partner GWE Intech has purchased another batch of tokens, via Swiss Asian Resources; enabling Blue Hill Mining Project to achieve its financial goals.
As a direct consequence of this early success and allocation of all our tokens, we do not need to make a public token offering, as was originally intended, since its sole purpose of the STO was to finance the project. The total number of tokens to be issued and distributed has been set at 140 Million. All of these are fully placed, so Blue Hill Mining Project no longer needs to perform an STO.
Below, you can see the most important next steps to take into the project. We will go deeper into detail on these soon. For any questions our token holders might have, we recommend that they address our official social networks namely telegram, our blog, and our FAQs.
Blue Hill Mining Project roadmap update:
Stage 1: Blue Hill Platform development
Detail: The Blue Hill Platform begins its development, which will be made in 4 stages:
1st stage: BHF-Token issuing and distribution
The BHF-Token is the only way to have access to the Blue Hill Platform as a kind of “Membership of a Club”. It will be issued and distributed via the Blue Hill Platform.
2nd stage: Future security token issuing and distribution
The future security tokens will be acquired only into the Blue Hill Platform, and each BHF-Token will grant access to acquire a future security token.
3rd stage: Traceability
Introducing the function of traceability, it will allow the platform to fulfill it’s goal of tracing the minerals from its origins to the final consumer, certifying the ethical origin of these.
4th stage: Trading and other services
At the final stage, and as a main goal, Blue Hill Platform will be a peer to peer professional service connecting certified mine-companies, smelters, logistic companies, banks and multinational companies allowing to lock up orders as well as transparent and direct trading and certifying its origins which is still ineffective and opaque in the traditional way.
Stage 2: BHF-Token Issuing and Distribution
Detail: BHF-Tokens are unregulated utility tokens that will only be issued once the Blue Hill Platform is ready. The BHF-Tokens will give rights to receive the services on the Blue Hill Platform: traceability, access to other partners services, bank financing, tradeability. You can only access the Blue Hill Platform if you are a BHF-Token holder. The BHF-Tokens will be distributed inside the Blue Hill Platform once issued.
Stage 3: Voting: Listing Utility BHF-Token or security token?
Detail: The token-holders will have the opportunity to choose whether to list the Utility BHF-Token or the future security token. For this, we have requested a Legal Opinion for each of the tokens, in order to have credible and objective information.
The new characteristics and utilities of the BHF-Token within the Blue Hill Platform, give it a new status and make it interesting for being demanded in the platform and the market. Its new configuration, making the BHF-Token a brand new utility token, would also allow it to be listed in the actual crypto-market.
This is why we will give the opportunity to our token holders to vote between the listing of the Utility BHF-Token or the future security token (as it is in the original planification). This last one, within the actual situation of the Security Token Market, and the difficulties of accessing them and trading with them.
Stage 4: Beginning of the Full Geological Scanning Analysis
Detail: With the usage of an edge-top Scanning Technology the cost of exploration of Blue Hill Mines is reduced, avoiding large investment without the expected results. By analyzing the ground with the scanning technology given by Swiss Asian resources, we can know the amount and type of minerals present in, where they are concentrated and where it is better to begin the drillings in each mine. This generates a great costs reduction, due to the effectiveness of the drillings with the Scanning Technology information.
Stage 5: Burning Program
Detail: It is a mechanism within the Blue Hill Mining token model. The “Burning Program” will buy Tokens from the market (from the exchangers once the token is listed). These purchased tokens will then be burnt in order to decrease the number of tokens in circulation. Every time we burn tokens, the token holders get more shares per token; which means that it increases the co-ownership of the mines.
Stage 6: Drilling Program
Detail: Post full scanning results, precise drilling of the mineral ore bodies will be made based on the Satellite Geological-Scan, in order to accurately determine the grades and total volumes of the mineral resources. As well as to start the process to obtain the exploitation licenses to extract and sell the mineral resources.
Stage 7: Mines operators tenders
Detail: Offtake and Joint Venture agreement will be made with credible and capable companies to extract and sell the mineral resources from the mine(s) destined for it by the Blue Hill Mining Company.
Stage 8: International Audit
Detail: Blue Hill Mining will make periodic and routinary audits via one of the “Big Four” accounting companies, to analyze the underlying value of the Blue Hill Mining Project.
Stage 9: Buyback Plan
Detail: The ultimate goal and final stage of the life of the future security token is the BuyBack Plan, which is when the underlying value of the future security token reaches its target value of US$30 per token. This can be achieved by the combination of our “Liquidity System” and “Burning Program” as they both complement each other, as our “Liquidity System” will continue to buy more and more mining exploration licenses that will continually increase the underlying value of the future security token with time and the “Burning Program” will continue to burn our Tokens, meaning that there will be less and fewer tokens with time until eventually, the underlying value per token reaches US$30.
Once the underlying value of the future security token gets to a specific value yet to determinate and not lower than the 30% (of US$30), we will make a voting for all the token holders, in order to decide whereas they want to start the BuyBack Plan at that time, or wait for the price to continue rising.