Classic Minerals Limited, an Australian gold exploration company, and AuResources AG, a Swiss fintech startup, have begun a $60 million funding initiative to leverage blockchain technology to boost the gold mining and fintech sectors. The collaboration is designed to accelerate the development of Classic’s gold projects, particularly the Kat Gap Project in Western Australia and the Forrestania Gold Project, by avoiding traditional commodity trade funding. Blockchain-Backed Capital In a move that bypasses traditional banking channels, AuResources, backed by digital and tokenization-focused bank Black Manta Capital, will provide the initial $10 million in funding. This capital injection is intended to support Classic’s production capacity at the Kat Gap project and facilitate the development of the Lady Magdalene and Lady Ada deposits. By leveraging blockchain technology, the partnership introduces a new business model that aligns with the companies’ interests. Related Reading: Solana (SOL) Price Primed For 50% Leap: Experts Turn Bullish Classic’s Kat Gap project, situated approximately 170km south of Southern Cross, has demonstrated potential. It boasts a $41 million reserve at 2.5 grams per tonne (g/t) and additional ..
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