Stock image. “We created a really interesting marketing ploy – attaching our in-ground verified uranium resources to a stable token backed by cryptocurrency. It’s an opportunity for investors to get leveraged to the uranium price, and we think the timing is perfect,” Parnham told The Northern Miner in an interview.
Madison is working on launching its strategy, aimed at disrupting traditional mining funding by tokenizing the company’s uranium resources, in the next six weeks. It signed a forward sales agreement with an international bank on June 1 to supply 20 million lb. of uranium via a token, providing an alternative funding source for the company.
“This disruption in how we fund junior mining companies using cryptocurrency and a forward sales agreement is a bit early for the traditional mining approach, but sometimes you have to take a little risk to do something unique and different,” Parnham says.
If successful, it would provide […]
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