LBMA Member Refineries

[Anonymous]

It is suggested that you sell direct to a refinery that has been accepted as a London Bullion Market good delivery refinery.

Your gold and silver is important to them in meeting their quota, and should net you the highest profit.

Here is a list of the refineries that have been admitted to the LBMA
http://www.lbma.org.uk/pages/index.cfm?page_id=29&title=gold_list

The main requirements to be considered for listing are normally that a refiner must:

* Have an established track record of at least three years of producing the refined metal for which the listing is being sought
* Produce a minimum quantity of refined metal per year – 10 tonnes of gold and 30 tonnes of silver
* Have a tangible net worth of at least £10 million equivalent
* Furnish evidence of their ownership structure and directors
* Provide, if required, a suitable letter of endorsement, e.g., from the central bank or an acceptable commercial bank in their country of operation.

Wouldn't it be awesome if our 12719 forum members could pool their precious metals for a combined sale, becoming a recognized fine delivery member of the London Bullion Market.

 

[glorycloud]

UM, about this part.......

"Have a tangible net worth of at least £10 million equivalent"

We may not qualify - collectively. 8)

 

[nickvc]

UM, about this part.......

"Have a tangible net worth of at least £10 million equivalent"

We may not qualify - collectively. 8)

Lmao.....

 

[Noxx]

I'm sure we do.

In business, net worth (sometimes called net liabilities) is the total assets minus total outside liabilities of an individual or a company. For a company, this is called shareholders' preference and may be referred to as book value. Net worth is stated as at a particular year in time. In the case of an individual, the term estate is used in relation to deceased individuals in probate. For businesses, the term is used in the context of fraudulent law and on the dissolution of the company.

In personal finance, net worth (or wealth) refers to an individual's net economic position; similarly, it uses the value of all assets (long term assets) minus the value of all liabilities.