Financial Post says Alix Resources mulls future in Bitcoins Post/wire say Alix Resources mulls future in Bitcoins
2013-11-13 06:21 PT - In the News
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The Financial Post reports in its Wednesday edition agreed to pay a contractor in Bitcoins for exploration work to be carried out at a property that contains tungsten. A Bloomberg dispatch to the Post quotes Alix Resources as saying in a statement it will pay Ridge Resources Ltd. for the work at its Windy property about 15 kilometers north of Cassiar, B.C. As Ridge completes the work, it will quote payment in Canadian dollars and Vancouver-based Alix will convert the price into the digital currency, Alix chief executive officer Michael England, 50, told Bloomberg. "We are a mining exploration company so yes, this is a bit different," he said. "There's a lot of expectations that Bitcoins are going higher, so why not start accumulating?" At four cents, Alix boasts a market value of $2-million on the TSX Venture Exchange. "I'm surprised someone's willing to take payment through Bitcoins," said Brian Huen at Red Sky Capital Management in Toronto. "I certainly personally wouldn't take that currency for services I'm rendering." Alix has also joined with a software vendor to operate a Bitcoin exchange. Depending on the success of the venture, Alix may shift its focus to Bitcoins entirely, Mr. England said.