RFQ Description
Gold Bullion Forward Sales Contract Offer
(10 ounces per contract at USD currency)
Discovery Minerals Limited is making an offer for forward contract gold bullion sale which might be of interest to you. Find details of the offer below.
PART ONE
Background of Discovery Minerals Limited
Discovery Minerals Limited is a United States corporation, publicly traded on OTC (Over- the- Counter). The company is domiciled at 7558 W Thunderbird Road. Suite 1-153 Peoria, Arizona 85381, United States America
Discovery Minerals Limited, a pink sheet stock market listed company originally incorporated in 2005 in the state of Nevada, United States, is an acquisition and development Company. It primarily targets natural resource properties through its subsidiaries. The properties primarily fall within precious metals such as gold, silver etc. Additionally, the company is making foray into clean tech and alternative energy development.
In its foray into clean tech and alternative energy development, the company is in a Joint Venture Agreement with AB AGRO TECHNOLOGIES, as well as with VPR Group Inc., in conjunction with AB AGRO.
The affairs of Discovery Minerals Limited are piloted by a team of seasoned professionals with many years of experience in the mining of precious metals including gold. This team includes
1) Russell Smith, Chief Executive Officer (CEO), who was once the Chief Executive Officer of Vision Energy Corp. Russell has over 40 years of experience in precious metals mining and has been involved in several major gold mining projects by way of discovery and development and by acquisition of landholdings and development, example being a greenfield project named Kundana Gold, which was discovered about 22 miles West of Kalgoorlie, in western Australia, one which produced 55,000 ounces of gold in its first year of production.
2) Girvan Jackson, Chief Operating Officer (COO), who has over 30 years operational experience in mining and specific expertise in underground mining operations These projects are located around the world including the Congo, Namibia, West Australia, New Guinea, Indonesia and Vietnam.
3) Bill McNerney, Executive Director, has been involved as a privateer in the exploration and development of mining targets in Ontario, Canada and in oil production in the USA.
PART TWO
Nature of the Gold Bullion Forward Sales Contract Offer
The offer involves sales of gold on the basis of forward contracts, which essentially work like futures.
First, under the contract the buyer will buy and pay in advance for 10 ounces of gold of 0.999% purity to be delivered by Discovery Minerals Limited to the buyer in 18 months, beginning from the date the contract was signed and payment made by the buyer. Gold certificate in respect of the contract will be issued to the buyer when payment for the gold is made.
Second, at the expiration of the duration of the 18 months period of the contract, the buyer has an option of accepting cash in lieu of the gold bullion. In this case, the buyer will receive Ask Buyer for the 10 ounces of gold paid for. In this regard, written notice must be received by Discovery Minerals Limited no less than 14 days prior to the due date by buyer of this decision.
Third, in the event that buyer, for the security of his/her money, wishes to place a Lien on the assets of Discovery Minerals Limited for the amount paid, Discovery Minerals Limited will provide a written confirmation that such a Lien is able to be lodged. This is in addition to the gold certificate issued for the gold purchased.
In summary, features of the contact are follows:
• Discounted price of the gold bullion is Ask Buyer per ounce
• Amount payable for one unit of contract (of 10 ounces) of the gold bullion is Ask Buyer
• Expected delivery time is18 months
• Gold certificate is issued on purchase of the gold bullion.
• The gold certificates is transferable and can be sold at profit by holder when gold price peaks
• Buyer has an option of accepting cash-payout of Ask Buyer in lieu of the 10 ounces of gold purchased at the expiry of contract. (In which case 14 days notice is required to be given by the buyer)
• Buyer could place a Lien on the assets of Discovery Minerals Limited for the amount paid, in addition to the gold certificate issued. This is meant to secure the money paid by the buyer
Note:
Multiple forward contracts of 10 ounces of gold bullion per contract could be purchased
(That is, more than one units could be purchased)
Examples:
• For 2 units of 10 ounces of gold each unit, the total amount payable is Ask Buyer
• For 3 units of 10 ounces purchased, the total amount payable is Ask Buyer at Ask Buyer per ounce
• For 4 units of 10 ounces purchased, the total amount payable is Ask Buyer at Ask Buyer per ounce
• For 5 units of 10 ounces purchased, the total amount payable is Ask Buyer at Ask Buyer per ounce
Gold certificate is issued for each unit of 10 ounces. For two units, two separate certificates is issued
PART THREE
Source and Origin of the Gold Bullion being Offered
Ruby gold mine, with excellent access, is located in Sierra County, California in United States.
It is a 1,700 acre mine land position, and a prestigious fully permitted California permitted gold mine, offering a fast track to production projected at 10,000 ounces of gold per year.
In a nutshell, the mine is a Turn-key gold mine with the following features:
• Current permits
• Active reclamation bonds (surety that ensures the company responsible for mining will also be responsible for the cleanup)
• Extensive infrastructure—including onsite placer and quartz processing mill, with PG&E power on site
It has approximately 3 miles of un-mined, gold bearing gravel channels identified on the property with past production estimated at over 200,000 ounces.
Geologists estimate that the mine currently has gold resource potential of over 150,000 ounces.
Note:
• Discovery Minerals Limited has sole rights to forward sell gold from the Ruby mine. It is on this basis that it makes this offer.
• Discovery Minerals Limited is stable and well funded company, not in any danger of bankruptcy, especially given recent gold sales and the Royalties accrued from the last Gold mine sale.
• There are proper contingencies in place to keep the company going if the CEO is incapacitated.
• There is full protection of USA law, and the sale of this Gold is monitored by the SEC which has a lot of power, so there is no question of illegality.
• Prospective buyers could contact the mine for confirmation of the sole gold sale right held by Discovery Minerals Limited on gold produced by Ruby Mine
Interested? For further information send me an email.
Kalu Eke Dike
(Marketing Executive, Discovery Minerals Limited)
