Seems high risk. biggest partner is Minxcon with a total revenue of $2 million per year based on Zoom (kind of like a cheesy ICO Rating site). Further the most significant and relevant partner (a very small mining company) has a webpage
http://www.minxcon.co.za/ which has most, if not all, secondary links non-functional; looks like a shell webpage. The political,electrical access, and foreign money transfer risks seem to be understated in the announcement. Remember you are investing in Zimbabwe and the disclaimer on their homepage as the company essentially says if you buy the token, you are not relying on info provided by the company (please read the disclaimer which basically says screw you they can do whatever they want). They did spend a lot of time on the white paper and probably have real mining experience. Overall looks semi-legit, just high risk. I take a pass personally but good luck to those of you invest. Too many yellow flags and one blazing red flag.
David Drake, Gold Mining Asset Advisor llsted on announcement, appears to have facilitated or was complicit in a scam ICO. as an advisor
https://bt.irlbtc.com/view/3314372.0; He was an advisor to KYC Legal ICO which appears to have been a pure scam; investors left locked on July 2, 2018.
https://bt.irlbtc.com/view/2370568.0 https://bt.irlbtc.com/view/4661018.0 An honest guy would have at least said something to investors or at least I would bet, if this company all of sudden shut off all its communications and started selling another token (as KYC Legal did), you would expect the team to tell you something about your investment. This was a very recent scam.
Hello Jchemist, thank you for taking the time to review our project. I do not take your time for granted. I completely understand that you are entitled and most welcome to your own opinion. However, I respectfully submit that your analysis is a bit one-sided and contains some inaccurate information.
First, Minxcon is not a mining company. They clearly state on their website that they are a mining consulting company involved in project management and exploration. They are Not a mining company. They are one of the top consulting companies in the mining sectors with top mining companies as their clients.
Secondly, your point regarding our disclaimer is also one-sided because you fail to mention that this project offers a security token. Thus we can not use any other language to state our claims otherwise we would not be compliant in many jurisdictions including the country of Zimbabwe. I am a law abiding, U.S. citizen and a veteran of the U.S. Army, so its very important to me to comply to all laws and regulations.
Regarding David Drake, he is merely an advisor not part of our Corporate board here in Zimbabwe. He only advises us regarding the ICO and is not involved in our gold mining operations. He is involvement with other projects has no bearing with respect to our validity nor our success. You are accurate when you say we are legit. And like most ICO's - it mostly deemed as high risk. But I submit that our risk profile is much better than others who rely on market adoption and/or have no MVP or working product.
Thank you for reply. With regard to understanding what Minxcon is or is not, my understanding was hampered by the fact their webpage secondary links did not work. I missed the relevant cited statement and usually rely on a secondary verification. I did in fact intend to contact them to verify who they are etc. I do think my cautionary stand based simply on non-functional secondary links such as contact info was warranted as this is strange for an operating business.
With regard to your disclaimer, I guess the bottom line is it is up to the investor to do the research anyway, and unlike many ICOs you gave sufficient information to do a deeper review.
Your clarification about David Drake having no part of the operation or management of the company, well...point is taken and clarification accepted.
With regard to your risk profile, I did also agree that your strategy describes a real product, process, and opportunity which is much better than the non-sense offered in most ICOs. Perhaps I should have better said high risk/possible high reward/business case better documented better than vast majority of ICOs on BCT. Or perhaps, I should have said nothing as I read more on this page, the weird comments about cloud computing and changing the world just confuse me about your ICO.
Good luck to all.
