Posts Tagged Ghana

Gold Dore supply to Ghana Gold Refineries

Question

Do I understand correctly if I say that you supply gold dore to refineries out of Ghana?

Answer

There are many small scale mining companies that sell their production to the buying companies in the cities we work in on a daily or weekly basis. They are not “refineries”, they are actually gold buyers with legal offices set up in every city in Ghana where gold is found.

If you are going to ask if we can supply gold to you, the answer is we don’t supply gold to third parties – and the reasons are many. When the need arises to trade gold production for cash, it is to pay for expenses such as fuel or labor. This need is immediate and the local buyers have cash available and their offices and they are open every day. The going price the local buyers pay is 2-5% below the world market price every day all day.

Not only that, but the only place to ship gold out of Ghana is Accra, which is a minimum of 6 hour drive from the main gold bearing locations where we work. It simply is not worth the effort.

Procedures you work with regarding selling gold

Question

Hope all is great with you .
I would like to know what type of procedures you work with regarding selling AU. I’m direct to a refinery mandate that is looking for product .
Thank you

Answer

Thank you for your inquiry. No offense, but we do not sell gold to third parties through brokers. Thankfully we don’t have to as there are dozens of buyers in Ghana with convenient gold buying office locations in every city where gold is found.

If we desired to send gold to a refinery, we can do so at any time – and so can anyone else that has gold / mines gold. We simply do not because there is no need. Cash buyers with office locations are everywhere in Ghana!

Is this Gold Offer a Scam?

Question

I hope you are well. I have been following your comments about NOT buying gold dust what do you think to the attached offer and the emailed offer from a person in Ghana below do you think this is real or fake? Have you come across this person before?

I have a refinery account in Dubai but she is saying she does not have a representative here and wants to meet in Amsterdam   my question would be why does she need another agent in Dubai when her agent is traveling with the 50 kilos of gold dust and can easily travel to Dubai as Amsterdam , why does she want me to pay 48,500 euros to cover costs from Ghana when we can refine the gold at the refinery and pay her the whole amount within 48 hours of refinery it does not add up to me.

What do you think does it? I will call them later but I would like your thoughts before I do.

Answer

Firstly let me say that it is ILLEGAL to export gold dust from Ghana, and pretty much every other country. Why?

Each government sets the export tax for all commodities leaving the country. The ONLY way to quantify and qualify the exact gold content of an item to be exported is to weigh it on a gravity scale. A density scale will tell the exact gold content vs. all other trace elements, thus the tax can be determined. There is no way to do this with gold dust. Not only that, but gold is not often produced in dust form unless the operation is large and sophisticated.

Dust is how the gold is found in the ground (vs. nuggets) as dust makes up 99% of all gold pulled out of the ground globally, however to separate gold from black sands is TYPICALLY done with mercury especially in Africa. This is called amalgamation. Take a look at the pictures on my site and you will see gold “balls” and “biscuits” that is how the raw gold looks after amalgamation, before it is melted into bars. Gold dust is extracted from black sands using a vibrating table such as the MSI vibrating table seen here  

These tables are costly, not easily obtained, require a concrete floor to be bolted to, a cover from the elements again only a sophisticated operation would have the cash to set up to retrieve “dust” from the black sands.

If you were the owner of an operation that has the equipment to recover dust from your production, are you going to sell it for big discounts? No. Gold dust also still contains a percentage of garbage that burns off during the smelting process as well. No Buyer is going to buy dust because the weight of dust includes the weight of the garbage. That is why refineries will only pay for either bars, or after the gold is smelted into bars. If that is how all refineries on earth do business why would you handle you business any differently?

So as a matter of deduction, ALL offers for gold dust are assumed to be 100% fake.   If a gold seller refuses to turn their dust into bars, then they are definitely looking to scam you.

300 kilos of Gold Dore Bars for sale – PMMC procedures

Question

I have been sometime in this net, and there are many scam offers, I have tried several times, and at the end, or no gold or ask money in advance… at the end… I have a offer for Gold Bars (+300 Kg) at 40,000$ (no discount) the SCO say that is possible also via PMMC procedure are you interested?

Answer

The PMMC is for SMALL SCALE mining. The director of the PMMC will tell you that any offers over 50kgs are 100% Fake and 99% over 10kgs are fake.

24k gold is at @ $53,500 per kg right now and 22k Dore is about 92% Pure Gold so each 1kg bar contains about 920 grams of pure gold. 920 x $53.50 per gram ($53,500 / 1000) or $49,220 worth of pure gold per bar… so that means your guy is selling for a 18% discount. ( 1- 40,000 / 49,220 = .18)

The BEST discount I have ever seen in Ghana is 5% discount “bush price”. In Accra or Kumasi – 3%. Don’t be fooled – this “offer” is 100% Fake.

We can supply 100kgs of Gold per month

Question

1. Do you do have 100 kg of Gold, and is the Gold in SA / Ghana?

2. Send me a SFCO / Photo’s of Gold / Contract. I need the Gold on a Monthly Basis . When can we Transact ?

Answer

100 kgs is 100,000 grams. In Ghana the gold content per ton is usually less than 2 grams per ton. 1.5 grams would be a HIGH yield. It takes about a million dollars worth of equipment to process 100 tons per hour and a typical shift is 8 hours.

That mean it would take 100,000 / 1.5 or 66,666 tons of processed material to yield 100,000 grams. At 100 tons per hour that is 666 hours divide by 8 hours = it would take 83.33 days to produce that much gold a – several months.

We do not send FCOs / Contracts as all the gold we have seen is sold in Ghana. There is no need to involve foreign “buyers”, there are buying offices in every city in Ghana. You can see pictures of real gold production on our site at http://www.MagnaCartaExchange.com

Is it legal to just fly in to Ghana and buy kilos of gold?

Question

We are miner’s agent and work directly with Ghana local miners to buy gold from them and
export to clients at a very good discount rate, without any intermediary involved.
We have the capacity to produce and gather 20-50kg of alluvial gold dust/gold bars every
month. We are now looking for only serious direct buyer who can travel to West Africa Ghana
to inspect and test products on FOB trade basis, are you a buyer or do you know any buyers to refer to us?

Answer


Here are some facts:

It takes a monumental effort to by gold where it is found – many hours down bad roads away from Accra.

Most miners sell their gold in either Tarkwa, Kumasi, Bibiani, or somewhere in between because Accra is HOURS away from where the mining occurs.

Even in remote areas there are gold buying offices paying no less than 5% below the world price.

There is no way you are buying gold at a discount big enough to take the time and go through the logistical hoops required to buy gold “in the bush” and then take it all the way to Accra to sell to foreign buyers – because there is simply too much competition and the price is too high for that to be profitable.

The only conclusion is that you are drawing in buyers that don’t understand all of what was just said in order to scam them in some way…

We are in no way “competitors” because we, just like everyone else that really has gold in Ghana, sell it to the closest legal buyer paying top dollar…. AND you failed to mention that it is ILLEGAL for foreigners to just fly in and by gold. You have to be licensed to do so!

See “buyers” with real money that don’t know the rules can come to Ghana and lose their money to scammers like you because you know that it is illegal for them to buy and have the gold on them. It is real easy to take both the gold and the money – all you have to do is pay off a few “professionals” and your scam is complete.

Who to chose for gold assay in Ghana?

Question

I hope you are well. in your opinion who are the best people to assay test the gold in Ghana? PMMC, ASAP VASA, AA MINERALS OR GEOLOGICAL SURVEY DEPARTMENT?

Answer

I like AA Minerals. The location is easily accessible, their equipment is the best. I don’t honestly understand why everyone goes on and on about the PMMC that place is terrible to get in and out of, crowded, and they are slow.

GSD = NEVER. That place is full of people on the scammers pay roll. Stay far away from that place, Anyone demanding to use that place is 100% a scammer.

Gold in Ghana, you want to buy it?

Question

I have Gold in Ghana, you want to buy it? …as promised I have enclosed an offer from a mining group in Ghana. They would like to set up a meeting to discuss this transaction.

I have CC’d the mandate on this email. Please let us know if you have any questions.

Reply email confirmed that the sender of this question has never done business with the “mandate” before …

Answer

Please don’t be offended, I had to ask because I feel you are just wasting your time my friend.

I first went to Ghana backed by a 60MM dollar fund and couldn’t buy 1 kg of gold. I met with the director of the PMMC on several occasions and the BEST I could verbally was a 3% discount but the conditions of the arrangement involved the transfer of money to the PMMC with no guarantee of delivery!

I will just say that there are gold buying offices in every single city (and some villages) in Ghana. There are over 85 registered buying companies in Tarkwa alone for example. The gold is usually sold to the closest location near where the mining site is located. Kumasi, Obuasi, Dunkwa, Bogoso,Tarkwa, etc. It is too far to drive to Accra and one would only do that if they were going there for other reasons.

I have chased too many fake gold deals in Ghana. We found the only way to get gold at a discount in Ghana is to mine it!

Is this Gold Offer legitimate?

Question

Please see email below and attachments – in your opinion do you think this is looks like legitimate paperwork?

Answer

I am not familiar with this countries official documents however no one can buy gold based upon such documents. Someone has to go in person and inspect the goods, perform the testing, and arrange the shipping. NEVER let the seller arrange testing locations or spec shipping companies.

Take the gold out on your person in a brief case or carry on bag. Never let it leave your site once it has been assayed.

Good luck always!

Clients that are seeking gold CIF to their refineries.

Question

I hope this message finds you well.  I would like to advise you of my current position in gold , mining, operations as such (iron ore)

I am affiliated with some very influential people in the business who have their own concessions in Africa – Ghana, Mali , Sierra Leone.

They take their gold and its presold to refineries, banks in Europe and in Dubai for spot or sometimes 2% over spot on all finished product.

I do have clients that are seeking gold CIF to their refineries.  I know this is asking a lot because gold typically does not have a discount. Can you be so kind as to advise me if you have the ability to send to one of my buyers in Dallas TX at approx 45-46 per kg?

If so, any quantity will do to build a relationship.

We are establishing our own facility in Utah to process iron ore bodies ~ very time consuming, equipment, engineering, logistics all have to be perfected but it should be fully operational by end of April

I look forward to your reply.

Answer

We have a refinery account with Dillon Gage in Texas. If I was going to CIF gold, I would simply CIF it to my account and not anyone else’s.

… and you are right, the entire gold production process at its core runs off of pre-buy or sponsorship investments. Anyone that is fronting all the money for their operations (investors or self financed) will demand top dollar for their goods… and that means there are no discounts available.

Gold is money … and money is ONLY discounted when you have to exchange it for other money. Likewise gold is only discounted when traded for cash.. but in either transaction the tolerable discount is small – always.

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