Purchase Phigold ‘PGX’ coins based on Phigold’s own gold resource

Purchase PhiGold Coin (‘PGX’) at 35% discount to the spot price of Gold

We 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.
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*The $1,963.55 per ounce is based on the 15 September 2020 LBMA fix.

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PhiGold Coin

(PGX)
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PhiGold PGX - Diversify from BITCOIN – Buy PhiGold PGX Coin

The PhiGold Offer

1 PGX based on 1 / 100 of an ounce of gold in digital form. The PhiGold Coin “PGX” offers potential capital growth upside to coin holders.
  • 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.
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Why purchase PhiGold Coins?

5 great reasons to purchase the PGX Coin*
  • Team
    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.
  • Mine Ownership
    PhiGold has the advantage of full operating ownership of its Barobo gold resource with control of the mining process.
  • Gold Resource
    The PhiGold Barobo resource has been reviewed by a certified geologist and a JORC qualified, Competent Person’s Report has been completed.
  • Proven Record
    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.
  • Secondary market
    The PhiGold Coin offers capital appreciation potential creating a favourable environment for trading in the secondary market.
*The above should be read in the context of the full private placement memorandum and specifically with regards to the Risk Factors shown in part within the Purchaser Memorandum
*The $1,963.55 per ounce is based on the 15 September 2020 LBMA fix.

About Us

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.

*Video dated 2013 during active mining operations at the PhiGold Barobo
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*Picture taken during active test mining operations

History of PhiGold

PhiGold commenced operations in 2008. We acquired the Barobo mining rights, undertook an exploration and drilling programme, established our gold resource, completed our JORC report and commenced test mining in 2013.

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.

Ownership

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.

Liquidity

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.

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Security

Using secure blockchain technology we have minted 1,540,000 PhiGold Coins based on 15,400 ounces (approximately 5%) of Phigold’s total gold resource, creating PGX - a digital gold based coin.

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).

Our Roadmap

  1. 2011 – 2013

    Test production

    Test production yielded in excess of $1 million in gold sales

  2. 2013

    Mining Application

    PhiGold mining application submitted. Application to be finalised in 2020.

  3. 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.

  4. 2016/17

    Redomiciling

    Parent Company commenced redomiciling from Cayman Islands to United Kingdom

  5. 2017 – 2018

    Recommence Mining Operations

    Preparing to recommence mining operations

  6. 2020

    PhiGold Coin Offer Commences

    Expected completion of Initial Exchange Offer

  7. 2020

    Mining Begins

    Mining begins and sale of gold to the Philippine Central Bank while gold is also transferred to the collateral account in London

Executive Team

Team

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.

Team

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.

Team

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.

Team

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.

Team

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.

Team

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)

Frequently Asked Questions (FAQ)

The following FAQs summarise questions which may arise in the PhiGold Initial Exchange Offering (“IEO”) (the "PhiGold Coin” symbol “PGX”). The summaries below should be read in the context of the Private Placing Memorandum (“PPM”) and specifically with regard to the Risk Factors in Part 9 of the PPM and the Forward Looking Statements. The definitions used in this FAQ document are the same as shown in Part 1 of the PPM.
The symbol of the PhiGold Coin is PGX and the Company’s web site is www.Phigold.com.

The PhiGold Listing is the listing by PhiGold UK PLC (“the Company”) of the PhiGold PGX Coin on the AAX Exchange. The PGX Coin is based, initially on the Company’s gold resource and progressively expected to be based on gold bullion mined by the Company. The PhiGold Coin is expected to serve as a store of value and in due course as a medium of exchange. The PhiGold Coin is also offered as an Exchange Token in the UK to Sophisticated and High Net Worth investors. In addition, the PhiGold Coin is offered as a Reg D Sec 206 Offer to Accredited Investors in the US and to qualified residents of other jurisdictions where it is lawful to offer and to buy the PhiGold Coin.

The PhiGold IEO is the offer of the PGX Coins through the AAX Platform. This is approximately the equivalent of an initial public offering in the mainstream financial world. The PGX Coins are based on the Company’s gold resource and expected to serve as store of value and in due course as a medium of exchange.

Established in Hong Kong in 2018, AAX is authorised as a Virtual Financial Assets (VFA) Service Provider, Licensed under Virtual Financial Assets Act (VFAA) by the Malta Financial Services Authority (MFSA). With operations in Hong Kong, Mainland China and London, AAX reinvents the digital assets trading experience, enabling all traders to access a protected market by leveraging an institutional-grade technology proven in 40+ regulated markets, powered by London Stock Exchange Technology. For further information www.aax.com.

An Accredited Investor is a US investor who meets the income and net worth qualification requirements as set out in the Definitions in the PPM. A High Net Worth or Sophisticated investor, as the terms are used in the UK, is an investor who meets the financial requirements set out in the PPM. In all other territories the PhiGold Coin is offered where such offer may legally be made. US and UK investors may purchase Coins directly from the Company using the subscription documentation at the back of the Offering Documents.

PhiGold Coins are a digital investment based on a gold resource and with trading to be established on the AAX Exchange. A digital currency is an asset that only exists electronically in a digital form. These currencies are supranational and not confined to a geographical location and can be denominated in any fiat currency. The PhiGold Coins are based on a gold resource which will be progressively converted into Gold Bullion.

The PhiGold Coin combines the advantages of digital investments and is based on real world assets, intended to create a less volatile stable investment which also offers scope for price appreciation. The PhiGold Coin is based on a defined gold resource. The PhiGold Coin uses ERC20 Ethereum technology, which allows the coin to utilise the Ethereum Blockchain.

The PhiGold Coin offers capital growth upside, as well as being based on a defined gold resource. The expected higher returns are possible as the PhiGold Coins are based on gold in the ground and the Coins are priced 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. (The $1,963.55 per ounce is based on the 15 September 2020 LBMA fix). As the Coins become progressively backed by Gold Bullion from mining operations, the value of the Coins should increase accordingly to reflect the full value relative to an ounce of gold. This represents a potential capital growth upside of up to 54% to investors (based on a 35% discount to the gold price on the day of purchase).

PhiGold UK Plc is a mining company whose business commenced in 2008. PhiGold, through its affilate, has an MPSA license in the Philippines where it has operated for over 10 years.

The proceeds of the PhiGold Coin offer will finance the commencement of commercial mining operations at Phigold’s mine site – the Barobo concession in the Philippines. A Competent Persons Report (CPR) estimates that 627 ounces of gold will be mined per month once we achieve stabilised operations. The mined gold will be sold to the Central Bank of the Philippines and 50% of net cash flow after operating costs will be used to purchase and deposit Gold Bullion in the Coinholder Gold Trust account in the UK.
PhiGold is selling 15,400 ounces of its gold resource to create 1,540,000 PhiGold Coins, each based on 1/100 of an ounce of gold, which in total represent approximately 5% of its gold resource in the Barobo concession. PhiGold will allocate 50% of net gold produced after operating costs to the Cash Custodian Account until the Gold Bullion held is equal to the Coins sold. The other 50% will be applied to mining and operating expenditures.
The PhiGold executive team consist of 6 professionals. Three of whom are senior management and the other three are Filipino nationals engaged in local operations. The majority of the PhiGold team have been working together for over 10 years. The team has over 100 years of investment, finance and operating experience and over 60 years of mining experience. More information regarding the team can be found on the PhiGold web site and in the Private Placement Memorandum.
PhiGold's plan is to use the proceeds of the Offer to conduct mining operations and to mine sufficient gold to match the PhiGold Coins sold. PhiGold will continue to scale up its mining operations and this may present further opportunities for the sale in the future of additional Coins to finance new mining operations. PhiGold will seek additional gold mining opportunities which offer scope for expanding the use of the PhiGold Coin. The PhiGold Coin will initially be a digital investment but the Company will seek ways to expand it to convert it into a digital currency for broader offering the functions of transferability and store of value.
PhiGold will mint 1,540,000 PGX coins. A first tranche of coins will be sold 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 will be the daily LBMA (London Bullion Market Association) fix for the previous trading day. (The $1,963.55 per ounce is based on the 15 September 2020 LBMA fix). Subsequent tranches may be sold at varying prices as decided by the Directors from time to time.
First, it will be based on the gold resources in our Barobo mine. Secondly, the Coin will be sold at a discount to the current price of gold offering 50% potential capital growth upside to investors. Thirdly, the Coin will be backed progressively by Gold Bullion to be stored in UK vaults by the Company to support the Coins sold.
Like any other cryptocurrency including asset backed coins and fiat currencies, we expect the PhiGold coin price to fluctuate. However, we expect to see price appreciation and stability develop over time to reflect:
  • the progress of mining operations and the transfer of Gold Bullion to the Coinholder Gold Trust account
  • the movements of the price of gold. Market commentators generally expect this to be upwards.
PhiGold will issue 1,540,000 PhiGold Coins which will represent approximately 5% of the estimated gold resource in the Barobo concession. This mining concession has been independently reviewed by a Competent Person and Competent Persons Report (CPR) has been prepared. This report is also known as a JORC (Australia) or Instrument 43-101 (Canada) report. The CPR can be found in Part 6 of the Private Placement Memorandum. A CPR report (or equivalent JORC / 43-101) is the industry standard to provide a reliable estimate of gold resources that can be used for benchmark valuations of the resource. Initially the Coins will be backed by the gold resource within the Barobo license and this will progressively become Gold Bullion as the gold is mined.
PhiGold will list the PhiGold Coins on at least one exchange within 9 months of the completion of the Offer, unless the Company conducts an Exchange Coin Offering in which case listing on an exchange will be upon closing of the Offer. This will allow token holders to trade their Coins, exit their holdings or to purchase more Coins in the market.
Once you have completed the client on-boarding process and confirm you agree to the PhiGold Terms and Conditions you will be able to purchase the PhiGold Coins. Once the Coins are deposited in your wallet you will not be able to receive a refund. However, you will have the opportunity to sell your Coins on an exchange once a listing is completed.
PhiGold coins will be initially sold at a 35% discount to the price of Gold. The expectation is that the PhiGold Coins will progressively rise in value by 54% to approach the market price of gold, as the gold is mined and the Gold Trust account is built up. As set out in the Risk Factors in the PPM there is no guarantee that this will be achieved.
PhiGold coins are based on the Ethereum ERC20 protocol and will be distributed into the Ethereum wallets held by PhiGold. Once your investment has been confirmed you will receive your PhiGold Coins in your designated wallet promptly upon the Company’s receipt of your payment.
PhiGold coins will be available to be bought directly through the company at its partner DRFQ (Digital RFQ).
Subscribers can buy PhiGold Coins using various crypto currencies including; BTC, ETH, USDT. Investors may also use credit card payments and bank transfers.
PhiGold coins can be purchased on multiple occasions by one investor.
When you purchase the PhiGold PGX coins on the PhiGold website, the Coins will be distributed to the crypto wallet address to which you have directed us to deliver the Coins. This could be a third-party service such as Metamask or MyEtherWallet to create an Ethereum wallet. The symbol of the PhiGold Coin is “PGX” and the Company’s web site is www.PhiGold.com.
After the completion of the Offer of the PhiGold Coin, the Coins will be listed on at least one exchange and will be available to be traded. The Company expects this to occur approximately 9 months after the completion of the Offer.
PhiGold Coins are based on the Company’s gold resource initially and progressively by Gold Bullion. PhiGold Coins will be traded on exchanges and may be sold for other crypto and fiat currencies but may not be redeemed for physical gold.
PhiGold will use the Ethereum platform. Most exchanges and crypto wallets accept ERC20 token standard on the Ethereum platform. PhiGold is compliant with this and meets these standards.
If a subscriber loses their PhiGold Coins, as with every other cryptocurrency, they will be unrecoverable. We encourage all crypto holders to safeguard their coins. The Company will not be responsible for the loss of any Coins.
PhiGold will release quarterly reports conducted by independent auditors who will confirm the value of Gold Bullion held in the collateral account. PhiGold will not use futures/derivatives/paper contracts/ETFs to support the PhiGold Coins sold.
The PhiGold Barobo goldmine is based in the Philippines. In prior years we have mined, refined and sold this gold to the Philippines Central Bank. For the PhiGold PGX project, we will sell the mined gold in the Philippines, and we will purchase gold in London, United Kingdom for deposit in the Coinholder Gold Trust account. When the Coinholder Gold matches the Coins sold the PhiGold Coins will become a fully gold based digital currency.
Yes, for the PhiGold pre-sale, Coins will be sold at a 35% discount to the price of Gold. The pre-sale price gives the potential capital growth upside to approximately 54% for early investors.
There will be a minimum as set by the company and its partners from time to time.
The official launch of the PhiGold Offer will be during September 2020.
Most definitely, we will be rewarding investors who refer their contacts to us where these result in an investment. Contact us here if you wish to provide introductions admin@Phigold.com
We will notify all members on our mailing list of the progress of the Initial Exchange Offering. Website visitors will also be alerted via our landing page and blog.
The PhiGold Coin Offering will remain open until all the minted coins are sold or until such time as the Directors decide to close the offer. After the offering, the company will list the coins on an exchange withing 9 months of completion of the offering. At such time the coins will be available to trade continuously on the relevant Exchange.
The PhiGold Coin will be able to be traded on a relevant exchange once the anticipated listing has been completed.
The Terms and Conditions of the PhiGold Coin, shown on the PhiGold web site and in Part 2 of the PPM set out the agreement and the obligations of the Company and the rights of buyers of the Coins.
The PhiGold Private Placement Memorandum is a substantial and significant legal work and verification work has been conducted in the preparation of the PPM to confirm the ownership and good standing of the companies by UK and Philippines lawyers.
PhiGold as a ten year old business has ongoing operations in the UK and in the Philippines Documentation confirming our rights to the resource and the audited accounts of the Company can be found in the PPM.