Need some advice

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larrymorrison

New member
Joined
Jun 20, 2019
Messages
3
Greetings,

My company deals with the US federal government (We're registered to do so, a lengthy process here) and have a good many contacts for the resale of government surplus. This includes military equipment.

One of our military contacts put us in touch with a mining operation in the DRC that wanted equipment. Thing is, they wanted to trade gold nuggets that are unrefined for the equipment. We don't have any experience in this market so we have been investigating the options we may have. During our discussions we were offered a deal to pay exporting fee's on the raw gold to the local government, refine it, and pay the balance once the refined gold has been sold.

We'd like to get some costs associated on the shipping and refining process, also who to sell to. They want to do enough raw thats assayed at 90% to 94% purity to come to 20kg refined. They want to ship out of Tanzania and are stating the exporting costs at around 6%.

If we pursue this venture who would be a good company to go with for transportation and refining? We'd like the final product to eventually come to Los Angeles where we have local buyers.

Thank's for the advice a head of time.
 
A while back, I looked into helping another forum member who was having difficulty selling their gold for a fair price. The problem was they were also in Africa. As I looked into it, I found dealing in gold from Africa could be very cumbersome due to the problems with "conflict" gold from certain African countries. Trying to document that the gold was not from one of those countries was beyond my abilities so I had to abandon the effort.

As Jim said, let them deal with selling their gold and stick to the business you know.

Dave
 
Since you asked, my advise is to pass on dealing with anyone in the DRC, especially anyone who does not want to pay using standard bank transfers, etc.

God only know where those raw nuggets came from or how they were dug out of the ground.

Pass, big time.
 
Dave

Dealing in Africa is cumbersome because every which way you turn there is someone holding their hand out for their "inducement."
 
I question if such a transaction is actually a breach of conduct per your contract with the us govt. given your source of materials, I’d want the cash side of the transaction to be as transparent as possible.


Sent from my iPhone using Tapatalk
 
Valid question, and it is something we considered.

The government contract is separate from any deal we may have with a third party, but we do show complete transparency in all funding. As long as we verify the validity of the source of the gold to ensure it's not coming from a war type situation it's not an issue.
 
Reading your post back in detail:

If you are dealing at a Federal level then you need to step away from this. Warning signs everywhere.

Firstly- Africans offering gold nuggets are not often genuine. Plenty of history on that.
Secondly- ask yourself why the gold would need to come out of a second country and why they are even suggesting it.
Thirdly - think about this as a businessman. Does it add up? No.

Finally take Jim's advice. 8) 8) Ask yourself why they can't do it themselves.

Got enough?

Jon
 
New here been working my own expierements and research for a while now Would like to talk to someone who has knowledge on old pocketwatches
 
Itsmygoldmine said:
New here been working my own expierements and research for a while now Would like to talk to someone who has knowledge on old pocketwatches

This is an odd place to post (I assume accidentally) unless your post has something to do with Gold nuggets out of Africa
 
Greetings,

My company deals with the US federal government (We're registered to do so, a lengthy process here) and have a good many contacts for the resale of government surplus. This includes military equipment.

One of our military contacts put us in touch with a mining operation in the DRC that wanted equipment. Thing is, they wanted to trade gold nuggets that are unrefined for the equipment. We don't have any experience in this market so we have been investigating the options we may have. During our discussions we were offered a deal to pay exporting fee's on the raw gold to the local government, refine it, and pay the balance once the refined gold has been sold.

We'd like to get some costs associated on the shipping and refining process, also who to sell to. They want to do enough raw thats assayed at 90% to 94% purity to come to 20kg refined. They want to ship out of Tanzania and are stating the exporting costs at around 6%.

If we pursue this venture who would be a good company to go with for transportation and refining? We'd like the final product to eventually come to Los Angeles where we have local buyers.

Thank's for the advice a head of time.
Larry,
Have you gotten any further with this?
I live in Cleveland, OH and have a long time friend that owns a precious metals company (Global Source: Brazing Alloys, Soldering Alloys and Medical Grade Materials). We've been talking about buying natural raw gold dust and nuggets from Papau New Guinea (where I'm originally from). Finally set up and registered my company (Kapul Gold Limited) in PNG. I'm now working on getting my export license from the central bank of PNG (BPNG). They require shipping, handling, logistics, etc... and I'd like to get some costs associated on the shipping and refining process.

I will set up a small refining lab (yet to get all tools, equipment, spectrometer, furnace, etc...) in PNG to basically refine as little as possible (never done it) before shipping the bar to a refiner of my friend's company's choosing (coz they have their own specs, requirements & shapes).

I have many questions but I'm looking to export from PNG and import to Ohio. Any pointers? (Sorry I have too many questions)

Isaiah
 

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