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Mansfield-Martin Exploration Mining Inc (OTCMKTS:MCPI) Reports Payment Arrangement With Qu Ltd.

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Mansfield-Martin Exploration Mining Inc (OTCMKTS:MCPI) has extended its preliminary deal with Qu Ltd. The company earlier agreed to offer up to five million oz. silver doré to Qu, Ltd. to back the Silverback ICO. Owners in the Mine Run Program JV will have the alternative of taking returns in Silverbacks, current ICO, and doré or US currency.

The details

The Silverback marks as a cooperative decentralized crypto coin working on the Ethereum block chain. Qu Ltd. will provide 5 million coins, each supported by 1 oz. of .999 silver. Silverbacks pricing will be solely in Ether, and established at a discount to spot silver pricing: 50% over the initial ten days; 25% over the next ten days; 10 % over the third ten days; and 5% over the fourth set of ten days. The ICO boasts a term of 60 days; hence, Silverbacks will be priced by conventional auction/bid-ask ways. If not more than 75% of the Silverbacks are bought, capital will be returned to subscribers.

Mine Run Program of Mansfield-Martin comprises processing of around 165,000 tons of earlier unprocessed and mined materials on four historic mine locations in the Tombstone Mining District.  Preliminary projections are for upwards of $55 million in gold, silver and other metals to be made from these deposits. The firm anticipates delivery of its part of the silver production to Qu, in accordance with the firms’ streaming deal, with a part of the payment in Silverbacks. Mansfield-Martin reported that the other parties in the deal can now chose the same crypto-currency payment way.

Mansfield-Martin is principally engaged in different mining activities on claimed and owned property in Tombstone Mining District of Arizona. As it is known, Tombstone Mining District marks as a historically prolific zone of gold and silver production. Mansfield-Martin comes in the list of SEC-Reporting firms, and has around 335 million shares issued and more than 200 shareholders.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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