SWOT analysis is a technique that looks at the strengths, weaknesses, opportunities, and threats of a project. Innovative Minerals has put together a SWOT analysis for its blockchain gold mining project. Here are the results.
Strengths include the fact that Innovative Minerals owns its gold deposits. It has obtained 4 licenses and another 6 are in the works. The company also has a professional team with 42 people on the management team along with 7 geologists, 12 researchers, and 17 field workers. What’s more, there is practically no competition in the region.
Weaknesses include the need for additional geological exploration. There is also the fact that potential gold in placer deposits is less than in ore deposits. The Russian sales market is limited and there is strong competition on the international market.
Opportunities include the introduction of new gold purification technologies that will reduce the costs for gold production. Demand for gold is also always on the rise and the project’s ICO will end up providing financing for the quick development of the company.
Threats include there being a significant increase in gold production in other countries that could bring down global market prices. What’s more, an introduction of new technologies that reduce the costs incurred by foreign gold producers could end up bringing down global prices for the precious metal.
Overall, Innovative Mineral’s SWOT analysis looks good. To find out more about the company and its blockchain project, go to www.innovative-minerals.io.
