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The NaturesGold Token is an ERC-20 token, built on the Polygon blockchain, with each token representing the preservation of 1/100th of a gram of in-ground gold, in deposits quantified by independent experts and controlled through mineral rights owned by Nature’s Vault and Pistol Lake NFT holders.
The total amount of NaturesGold Tokens in circulation can never exceed the amount of gold held within the mineral rights managed by Nature’s Vault.
The first mineral rights to be fractionalized will be known as Pistol Lake NFTs and will represent a fractional ownership in the Pistol Lake mineral rights located near Thunder Bay in Ontario, Canada. Pistol Lake contains 125,000 troy ounces (3,887,934 grams) of in-ground gold as quantified by its corresponding NI 43-101 report. This means that the maximum circulating supply of NaturesGold Token cannot exceed 388,793,750 tokens 3,887,935 grams (or 0.01 grams per NaturesGold Token).
As additional mining rights with an NI 43-101 or JORC report are acquired and fractionalized, the supply of NaturesGold tokens could potentially be increased to correspond with the NI 43-101 gold held within these mining rights, subject to approval through a governance framework described below: