Gold Mines Selling Gold at 20% Discount

[Goldmine]

I heard that some privately owned gold mines are offering to sell gold at a discount at up to 20% off spot. They will do this if they are paid cash now and gold is delivered in the future, for example, 6 months or 1 year. Does anyone hear know of any or would be interested in exploring ways to find such companies?

[<===Foolsgold]

I heard that some privately owned gold mines are offering to sell gold at a discount at up to 20% off spot. They will do this if they are paid cash now and gold is delivered in the future, for example, 6 months or 1 year. Does anyone hear know of any or would be interested in exploring ways to find such companies?

I have a goose that lays golden eggs I will sell you too.

[Gcubed]

I heard that some privately owned gold mines are offering to sell gold at a discount at up to 20% off spot. They will do this if they are paid cash now and gold is delivered in the future, for example, 6 months or 1 year. Does anyone hear know of any or would be interested in exploring ways to find such companies?

The CFTC may be interested in talking to them.

[Goldmine]

Aren't you Guys a bunch of positive thinkers. Actually, I understand there are quite a few small producing mines, that need more capital to expand operations. The public market is out of the question because they are too small, they only produce maybe 500-1000 oz per month. They cannot go and sell futures contracts because the requirements are too difficult for a small company to meet. To ramp up they need much more capital, so they sell a portion of production to private investors at a discount, to entice the investor to pay upfront and they use the capital for expansion. Anyway, I will try and track done some companies. If I find them I will post it here.

[Gcubed]

Aren't you Guys a bunch of positive thinkers. Actually, I understand there are quite a few small producing mines, that need more capital to expand operations. The public market is out of the question because they are too small, they only produce maybe 500-1000 oz per month. They cannot go and sell futures contracts because the requirements are too difficult for a small company to meet. To ramp up they need much more capital, so they sell a portion of production to private investors at a discount, to entice the investor to pay upfront and they use the capital for expansion. Anyway, I will try and track done some companies. If I find them I will post it here.

What you describe IS selling futures contracts! I'd be careful of what you are pumping.

[dacrunch]

I saw a post like this on the forums a few years back:

"I've got a gold mine & need some cash-flow money to keep operations running..." etc.

Never followed up on it - but I'd have to really be RIGHT THERE (with some other "metal") to watch over it...

[Tecumseh]

I heard that some privately owned gold mines are offering to sell gold at a discount at up to 20% off spot. They will do this if they are paid cash now and gold is delivered in the future, for example, 6 months or 1 year. Does anyone hear know of any or would be interested in exploring ways to find such companies?

Hey Todd - how have you been? Are we talking about Quartz Creek gold or Porcupine gold?

[anywoundedduck]

I heard that some privately owned gold mines are offering to sell gold at a discount at up to 20% off spot. They will do this if they are paid cash now and gold is delivered in the future, for example, 6 months or 1 year. Does anyone hear know of any or would be interested in exploring ways to find such companies?

Horsesheet!

[southfork]

research 419 scams on yahoo

[Goldmine]

I understand all of the skepticism. And yes there are scams out there, but these are mines that you can actually go and visit, see the operations, perform due diligence to ensure mineral rights and ownership are properly documented. Confirm the gold is being mined with ones own eyes, etc. If I find any I will post it here. I will only post something serious. Meaning I have done some preliminary due diligence.

[<===Foolsgold]

I understand all of the skepticism. And yes there are scams out there, but these are mines that you can actually go and visit, see the operations, perform due diligence to ensure mineral rights and ownership are properly documented. Confirm the gold is being mined with ones own eyes, etc. If I find any I will post it here. I will only post something serious. Meaning I have done some preliminary due diligence.

Well then congratulations and good luck....don't let the door hit you where the good Lord split you on the way out.

[Goldmine]

Happy New Year everyone! Well boys and girls, I have actually found two mines in Brazil that will offer gold at a discount for future sales. I have performed some preliminary due diligence and they seem to be legit. Anyone want to help me with the due diligence? If the due diligence pans out, I will take a trip to Brazil and see with my own eyes what is happenning. Let me

[Gcubed]

Happy New Year everyone! Well boys and girls, I have actually found two mines in Brazil that will offer gold at a discount for future sales. I have performed some preliminary due diligence and they seem to be legit. Anyone want to help me with the due diligence? If the due diligence pans out, I will take a trip to Brazil and see with my own eyes what is happenning. Let me

Bon Voyage!!

[valediction]

Happy New Year everyone! Well boys and girls, I have actually found two mines in Brazil that will offer gold at a discount for future sales. I have performed some preliminary due diligence and they seem to be legit. Anyone want to help me with the due diligence? If the due diligence pans out, I will take a trip to Brazil and see with my own eyes what is happenning. Let me

Good luck. I honestly hope it works out for you. I'll pay the 20% extra, take posession of it now, and not bother dealing with 2 countries worth of red tape and documentation.

[lightcycler]

I WANT IN!!!!!!!!!!! I'll pay by pal and have my courier pick up the gold........drats that scam won't work. Oh welll

[HistoryStudent]

from a 1900 dictionary...

"Gold mine seller"

= a liar standing by a hole in the ground.

bend over

[Wellsburg]

My understanding is that gold and silver mines cannot fully refine at the mine site.

For instance, if they are mining gold by leach pit, they can extract gold from the leachate dropping a fairly high purity out of the acid, but this is not an exact science. Then, they melt, scrape the slag layer off, and pour a big bar. This bar can be anywhere from 5 ounces to 50 pounds depending on the size of the mine.

Then, they test for purity in a lab on site, and can get a fairly accurate reading, something like 21 to 22.5 carat purity is common.

Then, an armored car arrives every several days, collects the bars, and delivers the unrefined bars to an actual refinery. Keep in mind that most of these unrefined bars will also have trace of silver, platinum, or palladium in the melt as well plus some junk like zinc, copper, etc.

I do not believe purchasing unrefined gold or silver directly from a mine is possible.

[Goldmine]

Actually, the mine sends the unrefined bars to a legitimate well known refinery who refines the gold to 99.999%, pours it into bars and certifies it. The buyer receives the bars from the refinery.

[southfork]

Happy New Year everyone! Well boys and girls, I have actually found two mines in Brazil that will offer gold at a discount for future sales. I have performed some preliminary due diligence and they seem to be legit. Anyone want to help me with the due diligence? If the due diligence pans out, I will take a trip to Brazil and see with my own eyes what is happenning. Let me

I have friends whom have spent tens of thousands of dollars chasing discounted gold, they have flown to South America, Thailland, Phillipines, Africa and the mid east, dozens of offers and all scams, they were robbed and assulted on multiple occasions. They are in the commidity business and were chasing deals that dont exist. Caveat Emptor

[Goldmine]

Well boys and girls, today I received a very professional, and seemingly credible report from one of the mines. It seems the report is one step away from a 43-101, which is the compliance report to go public on the TSX venture exchange in Canada. The geologist who prepared their report was an exploration geologist for Kinross Gold, which as you all know is a very large gold co. And it seems Kinross Gold actually visited their mine, but it was too small for them to buy. It is a privately owned company in Brazil and its few partners are American and Brazilian. Does not look like any funny stuff here. Seems extremely legit. I had to sign a confidentiality agreement to get their report. I will do a thorough review this weekend. Look, I am only posting here because I thought if actually found something real, a group of buyers might have some negotiating power with the sellers. This looks real. Anyway, I will keep everyone up to date, for now.

[Gcubed]

Well boys and girls, today I received a very professional, and seemingly credible report from one of the mines. It seems the report is one step away from a 43-101, which is the compliance report to go public on the TSX venture exchange in Canada. The geologist who prepared their report was an exploration geologist for Kinross Gold, which as you all know is a very large gold co. And it seems Kinross Gold actually visited their mine, but it was too small for them to buy. It is a privately owned company in Brazil and its few partners are American and Brazilian. Does not look like any funny stuff here. Seems extremely legit. I had to sign a confidentiality agreement to get their report. I will do a thorough review this weekend. Look, I am only posting here because I thought if actually found something real, a group of buyers might have some negotiating power with the sellers. This looks real. Anyway, I will keep everyone up to date, for now.

What's your cut? Not from the suckers, the sellers!

[Goldmine]

What's your cut? Not from the suckers, the sellers!

I am a buyer and do not represent the sellers. In life if you want to make money, you take risk. The game is to minimize the risk as much as possible. And you do that by doing thorough research and thorough due diligence. That is how saavy investors make high returns. That is how I make money. From your posts it appears you must have lost a lot of money and probably because you did not do thorough research before you invested. I do wish you the best of luck.

[Gcubed]

I am a buyer and do not represent the sellers. In life if you want to make money, you take risk. The game is to minimize the risk as much as possible. And you do that by doing thorough research and thorough due diligence. That is how saavy investors make high returns. That is how I make money. From your posts it appears you must have lost a lot of money and probably because you did not do thorough research before you invested. I do wish you the best of luck.

Go spend a few bucks for some testing equipment and you can buy gold for a 30% discount, right here at home. NO waiting!

[Ragnarok]

Well boys and girls, today I received a very professional, and seemingly credible report from one of the mines. It seems the report is one step away from a 43-101, which is the compliance report to go public on the TSX venture exchange in Canada. The geologist who prepared their report was an exploration geologist for Kinross Gold, which as you all know is a very large gold co. And it seems Kinross Gold actually visited their mine, but it was too small for them to buy. It is a privately owned company in Brazil and its few partners are American and Brazilian. Does not look like any funny stuff here. Seems extremely legit. I had to sign a confidentiality agreement to get their report. I will do a thorough review this weekend. Look, I am only posting here because I thought if actually found something real, a group of buyers might have some negotiating power with the sellers. This looks real. Anyway, I will keep everyone up to date, for now.

Well, Goldmine, it seems to me you're assuming quite a lot.

And since it also seems like you're really hot for this real deal, why don't you just post this "report" - in full - so that forum members can review it themselves and make up their own minds?

What...me skeptical?

2c,R.

[Lawrence]

This seems like one of those business transactions that could end with a newspaper headline of "TORSO FOUND BY HIKERS."

[Goldmine]

Well, Goldmine, it seems to me you're assuming quite a lot.

And since it also seems like you're really hot for this real deal, why don't you just post this "report" - in full - so that forum members can review it themselves and make up their own minds?

What...me skeptical?

2c,R.

Actually I would be glad to share the report with anyone who signs the same confidentiality agreement that I did. There are no obligations. It is a standard confidentiality agreement used by gold companies in the industry. It is a very competitive industry and the technical studies are valuable for other competitors on sites nearby, so it is important the information remains confidential. You can sign the CA I will send the report, you can analyze it and then post your opinion on the board. I just created this email specifically for this project. You or anyone can email me at goldminesearchs@yahoo.com Look forward to your assessment based on the facts in the report.

[Gcubed]

Actually I would be glad to share the report with anyone who signs the same confidentiality agreement that I did. There are no obligations. It is a standard confidentiality agreement used by gold companies in the industry. It is a very competitive industry and the technical studies are valuable for other competitors on sites nearby, so it is important the information remains confidential. You can sign the CA I will send the report, you can analyze it and then post your opinion on the board. I just created this email specifically for this project. You or anyone can email me at goldminesearchs@yahoo.com Look forward to your assessment based on the facts in the report.

Why isn't a 43-101 confidential?

[Goldmine]

Why isn't a 43-101 confidential?

A 43-101 is a report written by a geologist that is approved by the TSX exchange. For the 43-101 the geologist independently verifies the research performed by the gold company. A 43-101 only becomes a public report AFTER the company goes public. Like I said previously, the report is not a 43-101 and the reason is that it was not verified yet by a geologist approved by the exchange and the company is not public. That has nothing to do with the merits of the report or research. I hope that helps you understand the industry a little better.

[Ragnarok]

It seems the report is one step away from a 43-101, which is the compliance report to go public on the TSX venture exchange in Canada.
...
You can sign the CA I will send the report, you can analyze it and then post your opinion on the board. I just created this email specifically for this project. You or anyone can email me at goldminesearchs@yahoo.com Look forward to your assessment based on the facts in the report."

No public info, too many "seems" in the mix, and certainly no signing of any CA. I think I'll pass, thank you.

If the mine eventually does something like sell their own hallmarked gold thru Apmex or another reliable source, that would be fine by me.

R.

[Gcubed]

A 43-101 is a report written by a geologist that is approved by the TSX exchange. For the 43-101 the geologist independently verifies the research performed by the gold company. A 43-101 only becomes a public report AFTER the company goes public. Like I said previously, the report is not a 43-101 and the reason is that it was not verified yet by a geologist approved by the exchange and the company is not public. That has nothing to do with the merits of the report or research. I hope that helps you understand the industry a little better.

I spent more than a few years in the industry. That experience helps me to smell rats. I trust my nose.

Blind Yahoo email address looking for sucker goldmine investors!
Bwahahahaha!!!

[~BS]

Hey Todd - how have you been? Are we talking about Quartz Creek gold or Porcupine gold?

Chances are any investor in a scheme like this would be up **** creek. There's no way I'd want to do something like this without some form of collateral

[Goldmine]

Chances are any investor in a scheme like this would be up **** creek. There's no way I'd want to do something like this without some form of collateral

I agree about the collateral and asked and they are willing to secure the purchases with their property and equipment.

[Goldmine]

I spent more than a few years in the industry. That experience helps me to smell rats. I trust my nose.

Blind Yahoo email address looking for sucker goldmine investors!
Bwahahahaha!!!

If you were ever in the industry then you would have asked different questions and not asked the naive questions you posed. At least if you post you should be honest.

[Gcubed]

If you were ever in the industry then you would have asked different questions and not asked the naive questions you posed. At least if you post you should be honest.

I worked on producing projects operated by traded companies. I never associated myself with Yahoo pipe dreams.

[Goldmine]

I worked on producing projects operated by traded companies. I never associated myself with Yahoo pipe dreams.

Like I said, at least tell the truth on the board. Misleading people is really an injustice.

[Goldmine]

Well folks, this morning I verified the mineral right claims with the mining department in Brazil (DNPM). Just so happens you can check the mineral right ownership online. I spoke to their geologist, who is very well known in the gold industry, who confirmed their claims and that he believes they can deliver. The mineral right used as a guarantee and equipment is worth more than 10 times the amount they are seeking for advance purchases. So with that info I am off to Brazil next week to verify. I will no longer post on this board regarding this topic anymore as there does not seem to be any interest, only negativity and skeptism. So if all goes well, which I am 95% confident it will, later this year I will be collecting my gold bars at a huge discount. Laughing my way to the vault. Good luck to all.

[Lawrence]

I have no intention of backing up any claims I've made, or proving the reasonable skepticism was wrong.

Even if you're 100% legit and rolling in gold this time next year, you realize that everything you've posted in this thread looks like those emails I get from Africa every week, right? A group of people who aren't skeptical of unsupported claims like that would be fools.

[Ragnarok]

I will no longer post on this board regarding this topic anymore as there does not seem to be any interest, only negativity and skeptism. So if all goes well, which I am 95% confident it will, later this year I will be collecting my gold bars at a huge discount. Laughing my way to the vault. Good luck to all.

Aww c'mon now... at the very least you know you gotta come back and rub our noses in it with pics of your bonanza. Please.

R.

[<===Foolsgold]

I'm in the market to buy a bridge. Does anybody have a bridge for sale?

[Silver]

Well folks, this morning I verified the mineral right claims with the mining department in Brazil (DNPM). Just so happens you can check the mineral right ownership online. I spoke to their geologist, who is very well known in the gold industry, who confirmed their claims and that he believes they can deliver. The mineral right used as a guarantee and equipment is worth more than 10 times the amount they are seeking for advance purchases. So with that info I am off to Brazil next week to verify. I will no longer post on this board regarding this topic anymore as there does not seem to be any interest, only negativity and skeptism. So if all goes well, which I am 95% confident it will, later this year I will be collecting my gold bars at a huge discount. Laughing my way to the vault. Good luck to all.

Good luck! I hope you make it back alive. Only a fool would take untold risk for a 20% discount.

BTW, do you speak Portuguese? Are you a world traveler familiar with 3rd world and developing countries? Greenhorn travelers are easy pickings.

The only thing you will get out of this is an expensive education. Except in reality, I think it is you wanting to give people here an expensive education.

[Anakin]

Well folks, this morning I verified the mineral right claims with the mining department in Brazil (DNPM). Just so happens you can check the mineral right ownership online. I spoke to their geologist, who is very well known in the gold industry, who confirmed their claims and that he believes they can deliver. The mineral right used as a guarantee and equipment is worth more than 10 times the amount they are seeking for advance purchases. So with that info I am off to Brazil next week to verify. I will no longer post on this board regarding this topic anymore as there does not seem to be any interest, only negativity and skeptism. So if all goes well, which I am 95% confident it will, later this year I will be collecting my gold bars at a huge discount. Laughing my way to the vault. Good luck to all.

If you participate in the type of transaction you discussed in this thread, you would almost certainly become an "unsecured creditor." Meaning that depending on what happens, you might get some gold, you might get some of your cash back, or you might get nothing.

There is always the possibility that a mining company will fail, due to fraud, technical difficulties, legal issues, government action, or bad luck with the mineralization. I would not be willing to take those risks for a 20% discount.

[Goldmine]

Even though I was not going to post. I figured I would give everyone an update. I saw two gold properties, one in which I have extreme comfort doing business and another which I do not.

One mine has been in operation and everything on paper looks good, but I do not feel comfortable with the owners. I talked to some people in the community and they said they had some financial trouble in the past because they have a reputation for spending almost everything they make, which is quite a lot, and tend to drink too much. So with them I am passing.

I am very excitied about the second property. The property owners are very strong and I believe honest. American and Brazilian owners. They are willing to secure 100% with their equipment and property. I would have a first lien on all assets if there are any issues. They have no debt. They are extremely professional. There is enough gold on their proprty to mine for the another 30 years. They have professional research and geological reports/maps, etc. The property has been mined for over 20 years and is a very well known gold property in Brazil. The only issue I will face is getting a group to go in with me, because I do not have sufficient capital to do the deal alone. I took many pictures and videos. An excellent on hands education.

And interestingly, it is a lot harder to commit fraud than the US. They have a very structured system which is bureaucratic, but that is because everything is verified. The insane mortgage situation that happenned in the US could never happen in Brazil.

Well that's all for now. Depending on the comments I get from you guys, I will decide whether or not to post pics or a video.

Good luck to all.

[Gcubed]

Meh, You'll keep looking for a fish. I'd bet on it.

[Lawrence]

The only issue I will face is getting a group to go in with me, because I do not have sufficient capital to do the deal alone.

I was waiting for that.

[southfork]

You really can't blame the doubt here, out of nowhere you come in asking about discount gold, then right away find some and do what appears to be a solicitation out of nowhere, good luck in your endeavor but if they default their equipment will be gone faster than you can pass wind.

[JayDubya]

SHHHHHH!!! If you quit talking to him, he will go away. Just like your momma told you about feeding stray dogs...

[Goldmine]

Right. I need $750k to do the deal and I am willing to risk $400k which is 5% of my portfolio. I never risk any more than 5% of my portfolio on any investment. I am awarding you your wish. I will never post here again. No hard feelings. I just like an environment of curious intelligent logical people who like to make money. If there were intelligent questions that actually helped me analyze the opportunity, then I would I see value in this forum.

This was a grand experiment for me I bet a friend of mine that people in a gold forum would help analyze an opportunity like this because they would want to make money. I thought I would get out of the box questions because people would be not be entirely familiar with the mining industry. Inexperience sometimes breeds excellent questions. My friend said that I was better off not wasting my time and should just use my gold analyst at Dundee's opinion to guide my decisions. Unfortunately this forum does not provide anything at all for me and I lost the bet. All the best, Goldminer

[Gcubed]

Your "friend" was

Never mind.

[Gcubed]

I'll lay 3 to 2 that he's back in a week.

[Auracle]

persistent lil bugger isnt he.