RE:Eric On Boardcskhurasu: "Is the coin backed by the placer deal or completing the AMK deal?"
As many people seem to fail to notice, 'the coin' is really two different tokens. NGT for the placer property and NGTGOLD for AMK. At this time, the NGT symbol is taken by other enterprise(s?) on the exchanges, and the NGTGOLD token they are seeking to list.
If you go to the nuggettrap.com website, as I read it, the NGT token allows you to buy gold from production at some reserved determined price; they also claim to distribute any profit to token holders when they are able to produce, I suppose either 1/100millionth or 1 Four-Billionth of gold produced, depending on whether you consider the initial offering of 100 Million or the Treasury supply of 4 Billion, or maybe some other pre-determined quantity of gold allocated to your token holding.
At the same time, only 10% of whatever total number of NGT tokens seems to be reserved for public token sales; 90% to other purposes.There's a pie chart but it doesn't seem to add up to what the accompanying list shows.
...
Formula: (Gold product cost) - (Market price) = Profit margin
Perhaps they mean this formula reversed; i.e. Market price - Gold product cost, to yield a profit. Whatever is meant, the operation seems to be designed to produce no net profit for the enterprise; are net profits are to be distributed to token holders(?).
Tokenomics 2:
The value of the token may have multiple value markers that investors will identify with. It represents the gold value in discovery and it represents distribution of funds from Gold Extraction to Gold Sales.
Whatever this means, I suppose it could be construed to mean the value of gold-in-the-ground as a potential unmined resource plus the net proceeds of any gold that is actually mined to be distributed in some way to token holders. There is no resource estimate presently.
The NGT gold token is intended to raise money to bring the placer property to production, to buy equipment, prospect, etc.
In the news release, the placer property is described as their flagship property of the NGT token.
The company may trigger a listing on multiple crypto exchanges on accomplishing the target of $60Million raise.
I find this a little puzzling: it says they 'may' trigger a listing on crypto exchanges; however any token would have no value except a deemed value unless it can be publicly traded. As they are attemping private sales to qualified investors these investors might need to be reassured there will be a market visibility, which is usually the object of creating coins or tokens. Otherwise, some sort of share in a private company is being sold (but not shares?).
...
The NGTGOLD token is self-evident: to raise up to $336 Million via Gem Digital and private sales to buy out AMK for ~$210 Million and for other future purposes.
...
All that's according to my understanding using the available information I have studied over the last few months; any corrections would be welcome.
The nuggettrap website could possibly be updated to provide more certainty and clarity.