Goldea promises to allow you to become a gold miner through the use of GEA tokens. Find out how it works today in our review.

What is Goldea?

Goldea, found online at, claims to be “the first charity-oriented gold mining ICO. The company is led by founder and CEO Draško Jocić, who appears in YouTube videos advertising the company. In one YouTube video, Jocic appears in front of what appears to be a massive gold nugget.

The company also claims to have raised $245,000 USD in its pre-ICO. Now, they’re seeking to raise even more money through a general ICO – and you can be a part of it. That ICO will take place over 4 rounds and 4 months, with the price of the token increasing by $3 each round.

By buying Goldea’s tokens (GEA coins), you can earn a share of profits generated by a gold mine in Africa. GEA, by the way, stands for “Gold Exploitation Asset”.

Obviously, there are a lot of ICOs that make similar promises today – some of them are legitimate and some are not. Let’s take a closer look at how Goldea works to determine whether or not it’s a good investment opportunity.

How Does Goldea Work?

Goldea has identified a gold mine in Mali, the third largest gold producing country in Africa. That mine has 10 tons of gold. All Goldea tokens are backed by gold in that mine. It’s not totally clear if Goldea owns that mine, or if they’ve partnered with a mine. It seems like they’ve partnered with a mine, and your tokens will grow in value over time based on the production of the mine.

Goldea’s GEA coins (Gold Exploitation Assets) represent real gold production at a mine in Mali.

Mali is one of the poorest countries in the world. Because of that, Goldea has decided to reserve part of its token proceeds to charity, including community development, education, and employment projects.

Overall, Goldea sees itself as a blend between two unique assets:

  • Gold, which has been one of the most stable stores of value for over 4,000 years
  • Cryptocurrencies, which are among the most volatile assets in the world

By blending these two asset classes, the Goldea team believes it has created “the most beautiful paradox” and a “second generation token”.

After producing gold at their gold mine in Mali, Goldea will sell the gold to a “Swiss gold buyer located in Mali”. Production is scheduled to begin 8 months after the conclusion of the ICO (the ICO is scheduled to end on March).

Goldea Timeline

Goldea claims to have already completed resource exploration, team building, and independent analysis between 2015 and 2017. They’ve also already picked the contractors they want to work with.

What does Goldea have planned for the future? Here are the company’s short-term goals:

  • December 2017: ICO crowdfunding, token distribution, token listing on major crypto exchange, and token buybacks from early birds
  • Q1 2018: Infrastructure development and construction of the gold mine
  • Q3 2018: Extraction of gold
  • Q4 2018: Token buyback
  • Q1 2019: More gold extraction in a new block
  • Q3 2019: More gold extraction in yet another new block
  • Q1 2020: Expansion of gold extraction

These are the timeline goals as listed on the official website. Ultimately, Goldea doesn’t have any type of gold mine in place right now. It seems like they’ve done some early research, but they haven’t actually taken any steps towards extracting that gold from the ground. Steps like “buying heavy duty machinery” and “setting up infrastructure” aren’t scheduled to begin until March / April 2018, with the first gold extracted from the ground 8 months after the conclusion of the ICO.

The Goldea ICO

The Goldea ICO will see the release of 3 million tokens. A pre-ICO took place from September to October 2017, with a general ICO taking place from December 2017 to March 2018.

The tokens are set at a price of $6 per GEA token during the pre-ICO, rising to $12.21 per GEA token during the main ICO.

Each GEA token confirms profit sharing from any gold produced and sold by Goldea’s mining operations.

Of the total supply of tokens, 77% is being sold through the ICO, with the remaining amount going to the team (20%), bounties (2%), and a pre-ICO (1%).

Of the money raised during the ICO, 80% is going to “gold plant”, 15% is going to “project budget”, and 5% is going to “expenses”. It’s not totally clear how each of these costs is different.

Who’s Behind Goldea?

Goldea is led by CEO and founder Draško Jocić, who we mentioned above. He’s an entrepreneur from Serbia who has previously worked with international development agencies in West Africa over the past five years, and he’s also developed two small-scale gold mines that are producing 150 tons of gold per hour.

Other key members of the team include Dr. Uros Herlec, the Chief Geologist involved with the project. Dr. Herlec has 27+ years of gold mining experience, and is a professor of geology at the University of Ljubljana, Slovenia.

Other listed members of the team include Nadiourou Dabo, the “Country Manager” for Goldea. Dabo is also a contractor for Randgold, and has 15 years of experience working with the largest gold mining companies in Mali. There’s also Vital Dittrich, listed as “Mine Engineer” and an “expert in low-cost gold mining technology.”

Vitalik Buterin’s image is also featured prominently in at least one YouTube video advertising Goldea, although he has no apparent connection with the project.

Goldea has partnered with First Abu Dhabi Bank, which is officially the official bank for Goldea’s ICO. Goldea is registered in Dubai, UAE.

Goldea Conclusion

Goldea is a gold mine development company based in Dubai and run by a Serbian entrepreneur. That Serbian entrepreneur, Draško Jocić, has previously developed two productive gold mines in West Africa and has 9 years of mining industry experience.

You can participate in production at Goldea’s gold mine through the use of the GEA token. GEA stands for Gold Exploitation Asset. As a token holder, you’ll receive a portion of profits raised by gold production at the mine. A portion of proceeds will also go to charity projects in Mali.

To learn more about Goldea, visit the platform online at The company’s pre-ICO already concluded, with an ICO scheduled to take place over the next four months (ending in March 2018). The first phase of the ICO begins on December 1.

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