Two types of gold market, the illusionary gold market and the real one
Understand the logic behind the gold trade
Contrary to all the information on Internet, gold in Tanzania, but also in Ghana, Mali, and other gold producing countries in Africa IS NOT CHEAP. Contrary to what you may think, local miners don't have any real problems selling gold at the spot for best prices.
Let us be clear on that.
Artisanal, local miners have never problem in selling their gold! They must be quick in obtaining cash, and they always have the opportunity to sell gold.
Established mining companies anywhere have no problem in selling gold, as otherwise they would not establish themselves, would they?!
The dealers that purchase gold in Tanzania pay just about the best prices, they pay better than in Europe.
My business in Europe is such that I may purchase gold for 98% of the gold price, only to sell it for 99% of the gold price. In Tanzania, we sell gold to dealers for 100% of the gold price.
We can also sell for the premium price of 105% if we bring it to other city. There are people with cash who pay little bit more money for gold, so that larger quantities can be bought.
Finally, gold bullion in Europe and U.S. is sold with premium price, there is nothing wrong in dealing with gold with prices over the gold market price.
Two gold trade markets, the virtual market and realone
There are two markets: one is the real gold market in Tanzania, Ghana, Mali, and that is exactly this what I have explained to you.
The real buyers who are exchanging cash for gold, they are in hurry, and when you are in hurry, you need to pay better than a gold price to get quantities.
Gold is rare.
Gold is under demand.
Best gold buyer has to pay better price , so they are sometimes paying even more than the gold price and are exchanging gold for cash, and gold market in general is well developed so that basically no small scale miners, or medium company need to export gold.
There are some advantages in exporting for tax purposes, but not generally, just occasionally. In general, exporting is costly, I would need to pay 4% royalties and 1% insurance, plus the time for the turnaround. Export may NOT BE AFFORDABLE in comparison that gold can be sold locally within an hour without those expenses.
Do we wish to sell gold with price of 94% or 99%? That is logical factor. If we are to export gold, we would be paying 5% more on such export. If we are to sell gold locally, we would obtain 99% on gold price, on the spot, for cash.
I have research in Ghana, and we tried purchasing in Mali.
NO, there are no considerable discounts in those countries.
In Ghana, you may get 1-2% discount. In Tanzania too, but if you go to distant areas, and if you are established locally, you can purchase with some smaller or better discounts and simply sell in the city. But you need to put efforts to obtain 10%-20% in gold pricing.
No need to export it at all. Gold can be sold locally.
In Ghana and Mali gold is also sold mostly locally. In Uganda, gold can be sold locally, mostly to jewelers which are by the rule always buying gold. In Kampala, gold is bought just for 95% with almost every jeweler. In Kenya is similar situation.
Unless there is some kind of partnership, or production agreement where one invests machinery such as trucks or excavators in exchange for discounted gold -- we always sell gold without discount.
You may open your own gold mining operation and have the gold produced, that is best discount you can get: https://www.startyourowngoldmine.com
What we sell in Europe, in Switzerland are gold bullion, LBMA refinery produced gold bars and gold coins. Prices are always premium, over the gold price. We can sell any quantity of such gold bars.
Don't be lured into thinking that there is anyone out there in Tanzania, Ghana, Mali, sitting in the office with the gold that cannot be sold locally within an hour, just waiting for you to come, purchase with discount and get the profit.
There are no such things.
There are bunch of fraudulent offers.
However, those criminals work mostly with foreigners who don't know all the details of the gold business.
In general, people are friendly and honest in Tanzania. But there is no discounted gold ready to buy, none.
Think logically, why would a small scale miner invest money into gold mining if they cannot get paid. Fastest, soonest, closest!
And we speak of getting paid within an hour. They need money immediately.
People are paid for the day of work, not for the month of work like in many other countries.
They need to purchase food for the next day, there is no waiting time.
Call Communication and Reporting Officer I/C in Tanzania, Mrs. Happiness Njela, with company Start Your Own Gold Mine on +255626100000
If you wish to call mentor Mr. Jean Louis for anything relating to Start Your Own Gold Mine simply call the number or on mobile devices click on this phone number +256771843538 to get immediately in touch, regardless of the time zone.
Current location of Mentor to Start Your Own Gold Mine
I am Mr. Jean Louis, mentor for Start Your Own Gold Mine program and I am currently located south of Bwindi Impenetrable Forest, in Uganda, doing gold mining and exploration. You will need either to contact me by email or contact the Communication and Reporting Officer I/C as described.
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