Norwegian company Element ASA secures funding through ICO

in blockchain •  last year

And this is a interesting one. Element ASA, former Intex resources, is a junior mining and prospecting company. They have rights to a world class nickel prospect in the Philippines and as all juniors, funding is a major concern

From their press release, it is clear that these tokens are backed by future produce of either nickel or iron ore.

New generation of digital tokens
"The new world of serious and secure digital currencies and tokens opens up a whole new way for listed companies to raise capital. We believe our ICO would be the first of many to come from other companies in Norway and internationally", says Lars Beitnes, Chairman of the Company.

"One of the great benefits with raising capital through an ICO is that there is no dilution for the shareholders, in addition to the benefits of transparency, the asset backing and it being attractive compared to traditional capital funding", says Beitnes.

I have considered buying stock in this company on several occasions, hoping that they would reach a joint venture agreement for their nickel deposit. But it has been proven difficult to land a deal. So I have stayed away, well aware of the risks of mining. The interesting part here is that future buyers can secure their future needs without commitment, but with tokens.

I found this real interesting.

Full press release:

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Ah, shut up you stupid cat.

Yeah,, its the cool..