Purchase Phigold ‘PGX’ coins based on Phigold’s own gold resource
Purchase PhiGold Coin (‘PGX’) at 35% discount to the spot price of GoldWe offer our coin at 35% discount to the spot price of Gold which is currently equivalent to purchasing gold for $1,276.31 per ounce of Gold worth $1,963.55 per ounce*. The spot price of Gold used is the daily LBMA (London Bullion Market Association) fix for the previous trading day.
The PhiGold Offer
The PhiGold Coin is designed to track the price of
gold. Buy 1 PhiGold Coin (PGX) at a 35% discount to
the spot price of Gold which is currently equivalent
to purchasing gold for $1,276.31 per ounce of Gold
worth $1,963.55 per ounce*.
The spot price of Gold used is the daily LBMA (London Bullion Market Association) fix for the previous trading day.
- 1.54 million PhiGold Coins will be created which represents approximately 5% (15,400 ounces) of the total gold resource in the PhiGold Barobo asset.
- Charles Street Securities Europe LLP, as acted as fundraising adviser to Phigold UK PLC.
Why purchase PhiGold Coins?
The Company is led by a team of highly experienced professionals. Our team have a wealth of experience across the mining and financial sectors Our executive team have a total of over 100 years combined professional experience.
PhiGold has the advantage of full operating ownership of its Barobo gold resource with control of the mining process.
The PhiGold Barobo resource has been reviewed by a certified geologist and a JORC qualified, Competent Person’s Report has been completed.
Phigold has successfully completed a test of mining production and refining at the Barobo mine. We mined 658 ounces of gold which was sold to the Central Bank of the Philippines for approximately $1,000,000.
The PhiGold Coin offers capital appreciation potential creating a favourable environment for trading in the secondary market.
We are innovating mining finance by digitising our gold resources and creating an instrument for crypto investors.
Recent developments in blockchain as a revolutionary technology that is disrupting various industries has attracted the interest of the management of PhiGold. As an innovative junior mining company we believe that digitising our gold resource and will give us the flexibility and resources to develop our business and with the potential to evolve into broader based mining finance house.
Digitization technology will also allow us to build a community of trusted investors and other stakeholders in the Company and help create a sustainable business model to achieve our strategic objectives.
History of PhiGold
PhiGold’s first project is the ‘Barobo Gold Project’, a 450 hectare Mineral Production Sharing Agreement (“MPSA”) located in the Philippines. The Barobo mine contains a total resource of 271,932 ounces of measured (76,065 oz), indicated (124,298 oz) and inferred (71,569 oz) of Gold.
A total of 658 ounces of gold were mined and refined in PhiGold’s processing facility, during its test production stage and contains a total resource of 271,932 ounces of measured (76,065 oz), indicated (124,298 oz) and inferred (71,569 oz) of Gold.
Benefits of the PhiGold Coin
Capital Growth Upside
Our PhiGold Coin (PGX) is the only coin in the market that is based on a company owned gold resource that can be purchased at a 35% discount to the spot price of Gold which is currently equivalent to purchasing gold for $1,276.31 and potentially yielding an upside of approximately 54%.
Comprehensive Purchase Support
Online and telephone support during the subscription process and quarterly audit reports on the level of cash and gold in the Custodian Accounts.
The PhiGold Coin allows investors to own a coin based on a Gold resource which is expected to convert into bullion gold over time.
Coin stability and credibility
The PhiGold gold resource has been evaluated by a JORC qualified Competent Person’s Report. The PhiGold coins sold pursuant to this Offer represent 15,400 ounces - an estimated 5% of the 272,000 ounces of gold in the Barobo resource as estimated in the JORC report.
The PGX Coin will be available to trade on the AAX Exchange.
PhiGold Coin Protection
We will support the PGX Coin by transferring 50% of the net monthly cash flow from mining operations to the Cash Custodian Account and we will convert this to the Gold Custodian Account to be held by an independant custodian in London.
Operating in the Philippines, a resource rich country PhiGold has a 100% economic interest in Barobo. Working with our local team and partners we have operated in the Philippines for over 10 years.
- PhiGold mined gold will be sold to the Philippines Central Bank.
- Gold will be purchased in London and stored in secure vaults in the Gold Custodian account.
- The Cash Custodian account and the Gold Custodian Account will be audited quarterly and the audit report published on our website.
- The Terms of the PhiGold Coin and the ownership rights and the obligations of the Company are set out in the White Paper and Part 2 of the private placement memorandum (PPM).
2011 – 2013
Test production yielded in excess of $1 million in gold sales
PhiGold mining application submitted. Application to be finalised in 2020.
March 2014 / May 2019
JORC/CPR Updated Report
Updated NI 43-101 (JORC/CPR) report valuing the Barobo mine at $89M. With 272,000 ounces of gold in the property.
Parent Company commenced redomiciling from Cayman Islands to United Kingdom
2017 – 2018
Recommence Mining Operations
Preparing to recommence mining operations
PhiGold Coin Offer Commences
Expected completion of Initial Exchange Offer
Mining begins and sale of gold to the Philippine Central Bank while gold is also transferred to the collateral account in London
Ilan Diamond - CEO
Mr. Diamond joined PhiGold as CEO in 2016, bringing over 15 years experience in all facets of the resource industry, including finance, operations, exploration, and development. He is currently Chairman of Mapal Green Energy. He is founder and former Director & CEO of Adira Energy (TSX), founder and former Director & COO of Genesis Energy, founder and former Director & CEO of Avalanche Gold, Tubatse Platinum, Madinoge Resources and others. He has over 15 years experience in all facets of the resource industry, including finance, operations, exploration, and development.
David Thompson - Director & CFO
Mr. Thompson has over 25 years experience in finance and considerable experience in the Philippines. Since 1990 has served in finance roles for many international resources companies including Forum Energy (CFO) and Sea Dragon Energy (CEO). He floated Sea Dragon on the TSX-V in 2008.
Gerard Mizrahi - Director
Mr. Mizrahi is the Managing Partner, Charles Street Securities Europe LLP. Over 40 years experience in private equity investing, banking, investment banking. He has decades of experience in equity and debt financing and as a director of private and public companies. He holds an MA Economics, Kings College, Cambridge.
Jess Osmena - COO
Mr. Osmena has over 15 years experience as Chief Operating Officer and as mining contractor. He holds directorship in various mining companies. Also has over 15 years of experience Finance and Insurance industries. Holds the Bachelors Degree of Science in Business Administration, major in fields of Accountancy, Finance and Marketing.
Ronald Zipagan - Engineer, Head of mining operations
Mr. Zipagan is a licensed practicing geologist back up by 25 years of varied experiences here in the Philippines and abroad. He accumulated a wealth of experience for almost seven years in both underground and open pit mining operations to include copper and gold exploration during his time with Atlas Mining and Development Corp (Now known as Carmen Copper). He is also an experienced Engineering Geologist.
Jose Raymond Apostol - Adviser
Mr. Apostol, is an adviser to the Group. He was previously President of PMOI and Technical Director of the Group and is a resident Filipino citizen. He has over 25 years experience in minerals and petroleum exploration and production having worked for both local and international firms. He has worked for a number of international firms and for the Philippines Government Ray holds a Bachelor of Science in Geology degree from the University of the Philippines (1985)