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A U G U S T / S E P T E M B E R 2 0 1 4 www.resourceworld.com 41 Gold-BackEd cryPTo-currEncy launchEd There is a new twist to the growing Bitcoin crypto-currency sector. Newnote Financial Corp. [NEU-CSE; 1W4-FSE] has reported the suc- cessful development and launch of the first open-source, gold-backed alternative crypto-currency, commissioned by Las Vegas, Nevada-based Anthem Vault Inc. Headed by Anthem Hayek Blanchard, Anthem Vault is a leading technological innovator in the bullion markets and precious metals dealer offering fractional investment in one-kilo gold bars and COMEX-approved 1,000 oz. silver bars. A leader in the crypto-currency sector, Newnote specializes in the custom development of virtual currencies based on the criteria and specific needs of its clients. Anthem Vault announced The INNCoin (IndependenceCoin) at FreedomFest 2014, held July 4 in Las Vegas. INNcoin is the latest example of new technology being deployed in innovative fashion to facilitate easier ownership, storage and transfer of precious metals in commerce. There will only be a total of 10 million coins in this series. All 10 million coins will be in circulation and/or ownership by July 2015. The coins are backed by 100 grams of gold stored at Anthem Vault, provid- ing a base value to all coins from the first moment the coins are created. The INNCoin can be redeemed for real gold bullion by opening a free account at Anthem Vault. Creating an account is currently the only way to obtain an Anthem Vault MGC wallet to hold this new crypto- currency. Each AV wallet also contains "mining" software to allow even a novice user to download the wallet and mine / produce MGC's from their computer. This experimental currency is being used to demon- strate how gold or any precious metal can back a crypto-currency and become a truly independent commerce solution. Anthem Hayek Blanchard, Anthem Vault CEO and Founder stated, "This coin stands for currency independence and demonstrates the use of crypto-currencies as micro-gold weighted instruments in commerce." Paul Dickson, President and CEO of Newnote, said, "We are pleased Anthem Vault chose Newnote to develop this coin. A gold-backed crypto-currency is an important milestone in the evolution of digital currencies and enabled us to demonstrate our technical ability to create asset-backed virtual currencies." In a related development, Newnote Financial has been retained by Silver Phoenix Resources Inc. [SP-CSE] to develop the world's first Net Smelter Return (NSR) backed crypto-currency. Net Smelter Return (NSR) is the net revenue (total revenue minus production costs) that the owner of a mining property receives from the sale of the mine's metal/ non metal products less transportation and refining costs. The new digital currency, named Silverbits, will be represented by the NSR against Silver Phoenix's River Jordan property in British Columbia for 5 million ounces of silver. Silver Phoenix will pre-mine 20,000,000 Silverbits which will be released for sale over three to four years as funds are needed for exploration and acquisitions. Silverbits would be redeemable from Silver Phoenix once produc- tion starts; however, there is no guarantee the property will achieve production. n booK revieW acid Mine Drainage, Rock Drainage and acid sulphate soils In the past few years good environmental steward- ship has come to the forefront when planning mining projects. It is a crucial subject for mining engineers, consultants as well as environmental scientists and uni- versity students. Published by John Wiley & Sons, Inc., Acid Mine Drainage, Rock Drainage and Acid Sulphate Soils is more than a textbook. Illustrated with dozens of photographs, charts, tables and maps, the book is a compendium of 36 scientific papers written by various experts that cover these complex topics. Acid mine drainage is not just an industrial event; it is also a natural biogeochemical process that has been around for millions of years when oxygen reacts with iron sulphies. It takes place at coal mines, hardrock metals deposits as well as naturally occurring gossans. The book is divided into four sections that have been assembled and edited by award-winning James A. Jacobs, Chief Hydrogeologist of the Clearwater Group in Point Richmond, California; Dr. Jay H. Lehr, coau- thor of 30 books on environmental science and Science Director of the Heartland Institute, a think tank; and Stephen M. Testa, Executive Officer of the California State and Mining and Geology Board. Part I covers the causes of acid mine drainage, rock drainage and sulphate soils. Part II covers assessment of acid mine drainage and related topics. Part III cov- ers prediction and prevention of acid mine drainage while Part IV covers remediation of acid drainage, rock drainage and sulphate soils. Interestingly, the book also discusses new approaches for recovering valuable met- als from acid mine drainage, including bioleaching. The book is available at www.wiley.com and www. infomine.com n INVESTMENT