RE:RE:RE:RE:Should We All Buy NGT Tokens With Some AMK Windfalls?fordster wrote: Any idea on how much gold backs up each token? It would be so cool if one token was an oz. of gold...but it has to be substantial to make a statement of value...even 1/10 oz like GLD stock.
The token is not 'backed by gold'. Your 60 cent token purchase entitles you to buy 1/100,000,000th of the production of gold from them sometime in the future at the net cost of production, assuming they sell all 100MM tokens in the offering.
GLD stock (SPDR Trust ETF) is different; it represents 1/10th of an ounce of physical gold, in storage, although it is not readily convertible to gold. Notice it sells at a discount to the spot price for gold.