ORO Brasil – Gold Tailings Bond

The Offering

This offering is a 3-year tokenised bond that funds the reprocessing of historic gold tailings at ORO Brasil's concession in the Lourenço gold district of Amapá, northern Brazil. Bonds pay a 6.8% annual coupon, with the full principal repaid at maturity. ORO may also pay a one-off bonus at maturity linked to the gold price, at its discretion.

The bonds are issued by a licensed Swiss entity under the FINMA framework, and the funds are advanced to ORO Amapá Mineração Ltda as a loan registered with the Central Bank of Brazil.

The Asset

ORO holds a 938-hectare federal gold mining concession, first granted in 1988. Historic processing at the site used gravity-only methods that left fine and encapsulated gold behind in the tailings. Those tailings are now the project's core asset:

388,637 tonnes of material across 6 tailings dams and 10 stockpiles

An average grade of 3.07 g/t, around six times the typical 0.5 g/t for tailings

About 1,193 kg of contained gold, or around 38,360 troy ounces

Dam 1 alone holds about 89% of the contained gold

The resource has been assessed over five campaigns between 2013 and 2025, including SGS-Geosol laboratory assays, a drone topographic survey, a 55-hole drilling campaign and a 2025 geostatistical study.

The Process

Tailings are reclaimed from the dams, reground to free the gold particles, and processed using flotation and/or carbon-in-leach (CIL) recovery. The project targets a recovery rate of 80–90%. Alongside gold recovery, the operation remediates the legacy tailings dams.

The site already has an electrical substation, a control room and basic processing structures. The raise funds the regrinding circuit, leaching tanks, processing plant, mining fleet and the working capital needed to bring the operation into production.

Location

The concession sits in the Lourenço district of Calçoene, Amapá, about 120 km from the French Guiana border. The district lies on the Guiana Shield, a gold province geologically similar to the gold belts of West Africa, and has been mined since the 1890s.

Licences and Permits

Federal mining concession, Ordinance 1,455 (1988), transferred to ORO in 2007

Municipal environmental consents for open-pit and underground operations (2025)

Ministry of Defence registry for explosives, valid to August 2027

Technical responsibility filed with CREA-AP (ART No. AP20260115449)

The Team

The management team has more than 90 years of combined mining experience, including over 20 years in northern Brazil:

Nilson Jorge Pimentel Galvão Filho, Responsible Mining Engineer

Likio Nishiyama, Project Director, former Director of Construction at Yamana Gold

Ana Lucia Pereira, Statutory Director and Administrative VP

Wesley Alex Chumber, Production Manager, with ORO for over 15 years

Joe X Simonet, Operations Manager, with ORO since 2015

Project Status and Timeline

Setup and plant modernisation is expected to take 6 to 9 months, followed by 36 months of production. Gold sales are expected to begin within 18 months of the first bond batch being fully sold.

Use of Funds

Operational working capital: $4,713,350

Aviation support (helicopter) for site access: $4,500,000

Administrative and corporate overhead: $3,771,915

Project contingency reserve: $3,771,915

Personnel and technical workforce: $2,746,003

Gold processing plant construction: $2,616,040

Mobile mining fleet and equipment: $1,333,088

Initial mine development and site preparation: $974,507

Equipment maintenance and spare parts: $373,183

Metallurgical laboratory and testing: $200,000

Total: $25,000,000

Why This Offering

6.8% annual coupon over a 3-year term

Gold-linked bonus at maturity in addition to coupon payments

High-grade tailings at about 3.07 g/t

Drilled and sampled deposit, not an exploration project

Existing site infrastructure and a federal concession held since 1988

Experienced, locally based management team

Investment Structure

Term: 3 years from the issue date of each bond batch

Coupon: 6.8% per year

Principal: repaid in full at maturity

Bonus: a one-off payment at maturity linked to the gold price

Bonds are issued in batches, and each new batch opens only once the previous one is fully sold. Investors hold a debt claim against the issuer; they do not own the mine, the mining rights or any physical gold. ORO repays the loan from gold sales, and the issuer holds those repayments in a segregated account until maturity, when principal, coupon and any bonus are paid to bondholders.

A secondary market will be made available after the offering is fully funded, where investors will be able to sell their tokens at any time without waiting for the end of the term.

All Costs Included

The token price covers all issuance and platform costs. Investors will not be required to pay anything beyond the price of their tokens.

Documents

The full set of project and legal documents, including the bond terms and conditions, loan agreement, mining concession and permits, tailings reports, and survey and assay data, will be published here and sent to everyone on the waitlist before the token goes live.

Figures are based on the company's technical reports and are not guaranteed. Investing involves risk, including the possible loss of principal.