zootsuit9090
New member
- Joined
- May 31, 2017
- Messages
- 2
Greetings all, I'm not in the industry, so this is a complete newbie question, apologies in advance.
I'm looking at a settlement report from a Hong Kong refinery, and I'm trying to confirm that I'm reading it right. I'd be extremely grateful if someone could help me clarify a heading called "returnable rate".
Otherwise, the numbers seem very straightforward, they are as follows:
Net Weight: 16003.40g
After Melt Weight: 16000.20g
Gold
Purity: 92.100%
Fine Content: 14736.180
Returnable Rate: 98.00%
Net Content: 14441.45
(the silver had a returnable rate of 0%)
And then their account balance read 14441.45, so I assume that the Net Content was credited to their account.
Is the "Returnable Rate" reflecting a 2% refiner's fee? Or is it the actual gold that was recovered? I thought that very little gold was lost in the final refining process, especially for such high quality input material. I've heard that the loss for a world class refinery should be in the 0.005% range...?
Other than googling as many terms as possible ("returnable rate", yield, recovery rate, etc.), I had a chance to look through the forums and started reading some fascinating articles, and suddenly hours have passed and it's almost 1am. So much great info here!
There is just a staggering amount of detailed knowledge put forth by contributors, and I really enjoyed the sense of community that has been developed here. It's really cool to see how people really put forth a helping hand to assist others, members have the right to be proud of the community that they've created here.
Anyway, apologies for my newbie question and thanks so much in advance for anyone who takes the time to read this!
I'm looking at a settlement report from a Hong Kong refinery, and I'm trying to confirm that I'm reading it right. I'd be extremely grateful if someone could help me clarify a heading called "returnable rate".
Otherwise, the numbers seem very straightforward, they are as follows:
Net Weight: 16003.40g
After Melt Weight: 16000.20g
Gold
Purity: 92.100%
Fine Content: 14736.180
Returnable Rate: 98.00%
Net Content: 14441.45
(the silver had a returnable rate of 0%)
And then their account balance read 14441.45, so I assume that the Net Content was credited to their account.
Is the "Returnable Rate" reflecting a 2% refiner's fee? Or is it the actual gold that was recovered? I thought that very little gold was lost in the final refining process, especially for such high quality input material. I've heard that the loss for a world class refinery should be in the 0.005% range...?
Other than googling as many terms as possible ("returnable rate", yield, recovery rate, etc.), I had a chance to look through the forums and started reading some fascinating articles, and suddenly hours have passed and it's almost 1am. So much great info here!
There is just a staggering amount of detailed knowledge put forth by contributors, and I really enjoyed the sense of community that has been developed here. It's really cool to see how people really put forth a helping hand to assist others, members have the right to be proud of the community that they've created here.
Anyway, apologies for my newbie question and thanks so much in advance for anyone who takes the time to read this!