American Creek (TSX.V: AMK)
Cunningham Mining Ltd, the acquiror of American Creek, announced the launch of its Nugget Trap Token (NGT) offering, priced at $0.60 USD per token.
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| American Creek | TSX.v : AMK |
| Stage | Exploration |
| Metals | Gold |
| Market cap | C$126 m @ 28c |
| Location | Golden Triangle, B.C. |
| Website | www.americancreek.com |
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Comment
As an American Creek Shareholder I had mixed feelings abour being acquired, despite the healthy premium being offered, as I felt the higher gold price would lead to some corporate activity sooner or later.
When I learned that this acquisition by Cunningham Mining is being funded by a token issuance, I started to have serious doubts as to whether they can pull this off.
Details of the token are now emerging, and I still have doubts as to whether this idea will work.
If it does work it breaks new ground for mining investment, if it doesn’t, the share price will halve in short order I would imagine.
I have considered selling my stock and buying the token, but decided against it for now, but am considering a small investment in the token, and I have applied for details.
My final thought is that I have my doubts whether this acquisition will go through, and the market seems to agree with me as the share price is holding at around two thirds of the offer price, yet nobody is rushing in to try and make an easy buck.
Not for widows or ophans.
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Cunningham Mining Announces Nugget Trap Token Offering for 100M Units at $0.60 USD to Raise $60 million
VANCOUVER, BC, Sept. 19, 2024 – Cunningham Mining Ltd is excited to announce the launch of its Nugget Trap Token (NGT) offering, priced at $0.60 USD per token.
This innovative tokenization initiative aims to revolutionize the mining sector by providing a new financing model for mining operations by leveraging the Assets.
Key Highlights:
• Issuance Size: 100,000,000 units for proceeds of $60M USD
• Token Offering Price: $0.60 USD per Nugget Trap Token (NGT)
• Purpose: To provide liquidity and financing options for mining operations through tokenization
• Backing: The NGT token is backed by the Placer Claim in-ground assets, including potential gold deposits and physical gold in the BC Golden Triangle of the Nugget Trap Placer Claim
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CEO Statement: Ryan Cunningham, CEO of Cunningham Mining Ltd, stated,
“Our Nugget Trap Token offering represents a groundbreaking approach to financing in the mining industry.
“By leveraging blockchain technology, we are creating a platform that allows mining companies to monetize their in-ground assets effectively.
“This tokenization model not only provides liquidity but also offers tangible value to token holders.”
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About Cunningham Mining:
Cunningham Mining is a forward-thinking mining company, dedicated to transforming the mining sector through innovative financing solutions.
The company’s flagship project, the Nugget Trap, is located in the Golden Triangle area of British Columbia.
For more details visit: https://www.cunninghammining.com/
For details of the Nugget Trap token offer, please click here
To read the full article please click here
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The live Spot gold price can be found HERE
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Disclosure
At the time of writing the author holds shares in American Creek.
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