Over the course of 5 years, Coronet Metals
, a Nevada-based company founded in 2012, has been examining and evaluating tailings and slags waste. Starting October, the firm is launching its STO, which will be built on an existing business of extracting non-ferrous and precious metals from tens of millions of tons of tailings and slack left at abandoned mines and smelters across the Southwest.
According to James Gim (Coronet Metals CEO), after the security token offering is completed, the mining company will use all accumulated operative funds for excavation operations and subsequent financing of the processing company’s plant equipment in a joint venture. There will be no water or chemicals used, very little electricity engaged (1KW), the technology will utilize a dry concentrate. It will save on logistic expenses, making the mining process incredibly eco-friendly.
The Coronet Metals tokenization case demonstrates how it is possible to raise funds for a vital metal-mining initiative and provide compelling benefits for investors.