Blue Gold Announces Successful Smart Contract Audit by Nethermind, Strengthening Security and Transparency Ahead of Standard Gold Coin Launch on Base

Rhea-AI Summary

Blue Gold (Nasdaq: BGL) announced completion of a comprehensive smart contract audit by Nethermind on Dec 9, 2025 ahead of the public launch of its Standard Gold Coin (SGC) on Base. The audit reviewed SGC smart contracts and Base-deployed infrastructure, including minting/redemption, reserves logic, upgradeability, and pause controls.

Nethermind reported no critical or high-severity vulnerabilities outstanding. Blue Gold will publish the full audit summary and technical documentation on its website and governance hub to support transparency and regulatory alignment.

Positive

• Nethermind audit found no critical or high-severity vulnerabilities
• Audit covered full SGC contracts and Base deployment infrastructure
• Company will publish full audit summary and technical documentation

Negative

• None.

Market Reality Check

$3.23 Last Close

Volume Volume 403,472 is 2.11x the 20-day average of 191,565, showing elevated trading activity before this audit news. high

Technical Shares trade below the 200-day MA at 14.42, are -97.73% versus the 52-week high of 166.5, and 24.75% above the 52-week low of 3.03.

Peers on Argus 1 Up

BGL fell 7.35% while momentum scans showed GORO up 4.11%. Broader gold peers like GLDG (-7.64%), HYMC (-6.62%), and VGZ (-6.19%) were weak, but mixed peer moves and scanner data suggest today’s reaction skewed more company‑specific than a clean sector‑wide move.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 04	Leadership appointment	Positive	-7.1%	New Director of Risk and Digital Operations to strengthen governance.
Dec 03	Analyst coverage	Positive	-1.5%	Zacks Small-Cap Research initiates coverage with a stated price target.
Dec 03	Trading facility	Positive	-1.5%	Establishes $15M gold trading facility to support tokenisation activity.
Dec 02	Gold supply deal	Positive	+10.1%	Secures 1M+ oz gold supply to back Standard Gold Coin issuance.
Nov 21	Legal update	Negative	-11.2%	Clarifies Ghana Supreme Court ruling and ongoing disputes, including arbitration.

Pattern Detected

Recent history shows several constructive announcements followed by negative price reactions, with only the large gold supply agreement drawing a clearly positive move.

Recent Company History

Over the past few weeks, Blue Gold has announced multiple steps toward its gold‑backed token strategy. On Nov 21, it clarified litigation in Ghana tied to the Bogoso-Prestea mine, with a -11.17% reaction. In early December it secured over 1 million ounces of gold (about US$4.2bn in value) for Standard Gold Coin, which saw a 10.12% gain. Subsequent financing and research coverage on Dec 3 and a key risk/digital operations hire on Dec 4 all coincided with modest to sharp declines. Today’s Nethermind audit continues the strategic build‑out of the digital gold platform against that backdrop.

Market Pulse Summary

This announcement underscores that Blue Gold has subjected its Standard Gold Coin smart contracts and Base deployment to a Nethermind audit, which found no critical or high‑severity vulnerabilities. Combined with prior steps such as securing over 1 million ounces of physical gold and arranging trading and financing facilities, the company is building an institutional‑style digital gold stack. Investors may focus on future disclosures around platform usage, regulatory interactions, and monetisation of the tokenization strategy.

Key Terms

smart contract technical

"announced the successful completion of a comprehensive smart contract audit"

A smart contract is a computer program stored on a blockchain that automatically carries out the terms of an agreement when preset conditions are met — like a vending machine that releases a snack when you insert the right coins. For investors, smart contracts matter because they can cut out intermediaries, speed up and lower the cost of transactions, and make outcomes more transparent, but they also introduce technology and regulatory risks that can affect asset value.

layer-2 technical

"several of the industry’s most successful token and Layer-2 launches"

A layer-2 is a secondary network built on top of a blockchain to handle transactions more quickly and cheaply while still relying on the original blockchain for security, like an express lane built beside a busy highway. For investors, layer-2s can lower transaction costs and increase user activity, which can boost demand for related tokens or projects, but they also introduce extra technical and operational risks that affect value and adoption.

minting technical

"minting and redemption pathways for SGC, reserves logic, treasury operations flow"

Minting is the process of creating new units of an asset, most commonly digital tokens, coins or non-fungible tokens (NFTs), and bringing them into circulation. For investors it matters because new supply changes scarcity and can dilute value or alter market dynamics—think of it like a printer adding more bills or a mint striking new coins, which can affect prices, ownership percentages and future returns.

attack surfaces technical

"BlueGold’s safeguards for mitigating attack surfaces"

The collection of places and ways a company’s systems, products, people or suppliers can be accessed or exploited by criminals or hackers—think of it as all the doors, windows and hidden crawlspaces a burglar could use to get inside. Investors care because a larger or poorly managed attack surface makes breaches, downtime, regulatory fines and reputational damage more likely, which can reduce revenue, increase costs and hurt a company’s stock value.

onchain technical

"an onchain gold asset engineered for transparency, auditability, and simplicity"

"Onchain" describes activities, transactions, or data that happen directly on a blockchain, which is a digital ledger that records information transparently and securely. For investors, onchain activities provide real-time insights into how assets are moving and how networks are functioning, helping them make more informed decisions. Think of it as watching transactions happen live on a public record, similar to seeing a receipt posted online immediately after a purchase.

real-world asset financial

"one of the most open RWA issuers in the market"

A real-world asset is a tangible or economically grounded item — such as property, commodities, loans, or equipment — that has intrinsic value in the physical economy. Investors care because these assets can provide stable cash flow, serve as collateral, and diversify portfolios against volatile market bets; think of them as the concrete bricks that can steady a portfolio built with more speculative paper or digital holdings.

AI-generated analysis. Not financial advice.

NEW YORK, NY, Dec. 09, 2025 (GLOBE NEWSWIRE) -- Blue Gold Limited (Nasdaq: BGL) (“Blue Gold” or the “Company”), a next-generation gold development and technology company, today announced the successful completion of a comprehensive smart contract audit conducted by Nethermind, one of the world’s leading blockchain engineering and security firms.

Nethermind is widely recognized for its protocol engineering contributions to WorldCoin and several of the industry’s most successful token and Layer-2 launches. BlueGold’s decision to engage Nethermind reflects the company’s uncompromising commitment to institutional-grade security, transparency, and regulatory alignment as it prepares for the debut of its flagship digital asset.

The audit encompassed the full suite of smart contracts supporting Standard Gold Coin (SGC) - BlueGold’s fully reserved, vault-backed digital gold token - as well as the underlying infrastructure deployed on Base, Coinbase’s Layer-2 blockchain. Base was selected for its security, scalability, Ethereum alignment, and the strength of its developer and compliance ecosystem.

“Security is not a feature - it is the foundation,” said Andrew Cavaghan, CEO of BlueGold One. “Completing Nethermind’s audit validates the rigor behind our engineering and the seriousness with which we approach customer protection, regulatory readiness, and long-term platform resilience.”

Nethermind’s assessment included detailed reviews of contract architecture, upgradeability and pause-control mechanisms, minting and redemption pathways for SGC, reserves logic, treasury operations flow, and BlueGold’s safeguards for mitigating attack surfaces. The final report confirmed that BlueGold’s contracts meet the highest standards of safety and correctness, with no critical or high-severity vulnerabilities outstanding.

This verification marks a major milestone as BlueGold moves toward the public launch of Standard Gold Coin (SGC) - an onchain gold asset engineered for transparency, auditability, and simplicity. SGC is designed to provide users with the assurance of fully reserved physical gold, combined with the speed, composability, and global accessibility of modern blockchain infrastructure.

“SGC was built to exceed the expectations of regulators, auditors, and users who demand clarity and trust from real-world asset platforms,” added Nathan Dionne, Chief Technology Officer. “The Nethermind audit is a key validation point as we finalize our launch and continue shaping a safer, more trustworthy digital gold ecosystem.”

BlueGold will publish its full audit summary and relevant technical documentation on its website and governance hub, reinforcing its commitment to transparency and establishing the company as one of the most open RWA issuers in the market.

About Blue Gold Limited
Blue Gold Limited (Nasdaq: BGL) is a next-generation gold development company focused on acquiring and aggregating high-potential mining assets across strategic global jurisdictions. The Company’s mission is to unlock untapped value in the gold sector by combining disciplined resource acquisition with innovative monetization models, including asset-backed digital instruments. Blue Gold is committed to responsible development, operational transparency, and leveraging modern financial technologies to redefine how gold is produced, accessed, and owned in the 21st century.

Blue Gold prioritizes growth, sustainable development, and transparency in all our business practices. We believe that our commitment to responsible mining will enable us to create value for our shareholders while minimizing our environmental footprint.

About Nethermind

Nethermind is a global blockchain research and engineering firm providing industry-leading services in smart contract auditing, protocol development, zero-knowledge systems, and advanced blockchain security. Known for its work with WorldCoin and other major Web3 ecosystems, Nethermind is regarded as one of the most trusted engineering partners in the blockchain industry.

Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the safe harbor for forward-looking statements provided by Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on these forward-looking statements, which are current only as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties. Important factors that could cause actual results to differ materially from those discussed or implied in the forward-looking statements include, but are not limited to: general economic or political conditions; negative economic conditions that could impact Blue Gold Limited and the gold industry in general; reduction in demand for Blue Gold Limited's products; changes in the markets that Blue Gold Limited targets; and any change in laws applicable to Blue Gold Limited or any regulatory or judicial interpretation.  As a result, we cannot assure you that the forward-looking statements included in this press release will prove to be accurate or correct. These and other important factors and risks are discussed in Blue Gold Limited’s shell company report on Form 20-F, filed with the U.S. Securities and Exchange Commission (the “SEC”) on July 1, 2025, and other filings with the SEC.  In light of these risks, uncertainties, and assumptions, the future performance or events described in the forward-looking statements in this press release might not occur. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results, and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. Except as required by applicable law, we do not undertake any obligation to, and will not, update any forward-looking statements, whether as a result of new information, future events, or otherwise. For more information regarding Blue Gold Limited, please visit https://bluegoldmine.com.

No Offer or Solicitation
This press release shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed business combination. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption.

For Further Information Contact:

Tavistock Communications
BlueGold@tavistock.co.uk
+44 20 7920 3150

Skyline Corporate Communications Group, LLC
Scott Powell, President
One Rockefeller Plaza, 11th Floor
New York, NY 10020
Office: (646) 893-5835
Email: info@skylineccg.com

FAQ

What did Blue Gold (BGL) announce on December 9, 2025 about SGC?

Blue Gold announced a completed smart contract audit by Nethermind for Standard Gold Coin (SGC) ahead of its launch on Base.

Did the Nethermind audit of BGL's SGC find any critical vulnerabilities?

No — the final report confirmed no critical or high-severity vulnerabilities outstanding.

Which components did Nethermind review in the BGL SGC audit?

Nethermind reviewed contract architecture, upgradeability and pause controls, minting/redemption, reserves logic, and treasury flows.

Where will Blue Gold publish the full SGC audit summary and technical docs?

Blue Gold will publish the full audit summary and relevant technical documentation on its website and governance hub.

Why is Blue Gold deploying Standard Gold Coin (SGC) on Base?

Blue Gold cited Base's security, scalability, Ethereum alignment, and a strong developer and compliance ecosystem as reasons for selection.

How does the Nethermind audit affect BGL shareholders ahead of the SGC launch?

The audit provides independent verification of contract safety and transparency, which may support regulatory readiness and user trust ahead of the SGC launch.