Coinsilium names mining advisor, updates TGE plans

Coinsilium (NEX: COIN), the accelerator that finances and manages the development of early-stage blockchain technology companies, named Richard Lloyd as mining industry sector advisor to TerraStream, its Gibraltar-registered, wholly-owned subsidiary.

Mr. Lloyd has 17 years investment banking experience with a specific focus on the mining and exploration sector. He began his career as a mining geologist in Indonesia, Malaysia, Peru, Zimbabwe, and South Africa. Formerly a senior executive at Dresdner Kleinwort/Commerzbank, ANZ and Standard Bank, Mr. Lloyd holds a BSc (Hons) in Mining Geology and A.R.S.M and an M.Sc in Mineral Deposit Appraisal from the Royal School of Mines, Imperial College. He is a Fellow of the Institute of Materials, Minerals and Mining and a Fellow of the Geological Society. Richard is also an Independent Non-Executive Director of AIM-listed Goldstone Resources (LON:GRL)

TerraStream was formed in 2017 to create a blockchain-powered platform to support the offering of token-based alternative funding solutions with potential applications across several industry sectors. It will initially focus on the mining industry and in particular precious metals and natural resources extraction. The development of the platform is expected to be funded from the TerraStream’s existing reserves and the proceeds of a non-dilutive digital token generating event under Gibraltar’s regulatory framework.

TerraStream TGE update

With Gibraltar’s distributed ledger technology regulatory framework successfully launched, TerraStream awaits the publication of a more specific set of regulations relating to TGEs, which is expected to be published by the Gibraltar Financial Services Commission (GFSC) by summer.

Based on its discussions with Coinsilium’s legal advisors, ISOLAS, in Gibraltar and the public announcements from the GFSC, the TerraStream’s’s priority is to ensure the TGE is fully compliant with Gibraltar’s forthcoming regulations and aims to be in a position to commission the development and build of its MVP once those regulations are published.