Send a Message
to GhanaGold1942

Comments

41

Joined

Nov 14, 2009

GhanaGold1942 Profile

Forums Owned

Recent Posts

Mining

Price of gold in Ghana

I am in Accra.  (Aug 5, 2013 | post #569)

Mining

Price of gold in Ghana

You are not legal to buy, therefor the answer is no---no you cannot export, unless you have a license (expensive) and no you will not make a buy unless it is 2% off LME spot...For U it is a lose, lose situation....Come to Ghana and enjoy the country and it warm friendly people you will be most pleased, but stay away from what you do not understand.... you win.  (Jul 24, 2013 | post #563)

Mining

Price of gold in Ghana

Not possible, cash and carry in this part of the world---All gold is sold cash on the barrel-heard after testing...Buyers pay between 3/4% off spot.  (Jul 21, 2013 | post #560)

Mining

Price of gold in Ghana

WoW! what a BS story.....  (Jun 10, 2013 | post #531)

Mining

Price of gold in Ghana

No, it cannot be done as you explained.....in fact it is impossible. I only wish it was that simple---it is a complex process.....If you do not know what you are doing ( and you don't) it is like playing high stake poker and not knowing a full house beats a flush.  (May 30, 2013 | post #521)

Mining

Price of gold in Ghana

Look to AA, PMMC, Vasa and a number of other right around the corner from where you are sending this message,  (May 18, 2013 | post #510)

Mining

Price of gold in Ghana

u can sell your 50kgs right now in Accra for about 2/3% under the LME spot for 22.29k....., you know that, of course  (May 15, 2013 | post #508)

Mining

Price of gold in Ghana

are you a Ghana national?  (May 12, 2013 | post #505)

Mining

Price of gold in Ghana

OK.....hope to see you for at least for a drink--it will be cost effective for fun and more so for a real understanding of the very small world of Gold trading..... My first business transaction in Ghana was 1975 and in Nigeria 1974. I am now business based in Accra as we have a gold exploration company...which has two viable large scale concessions that we are developing.....Giv e a call or email as I live in the Accra area...If you golf.... .....I am in walking distinct of a brand new gold driving range, that is if you play, if not it is fun anyway. Take care.... A East Coast guy.....  (May 6, 2013 | post #501)

Mining

Price of gold in Ghana

all 22k+ is sold in Ghana for between 2/3.5% below the spot LME of the day--cash on the barrel head.....and that is 100%. and moreover all gold is sold in many cases even before it come out of the rivers. And it does not matter what mining company it is and the new laws make it difficult, although not impossible to export gold and it is very costly to do so..tax, export license fees, shipping, and so on. This business is highly regulated to protect people against themselves....not unlike your question....enjoy Ghana it is a very beautiful country and Accra is very expensive city, in fact it the 6th most expensive in the world to conduct business..you also need to know the banking laws on money transfer, new laws which could cost you up to 4% of the funds transferred.... you need to know the rules (protocols) to have a 1/2 way decent chance of playing the game. and I can say with out a doubt, you do not....like I said enjoy....I can say 100% if you are offered gold at a price of 5 below....well you now the answer. It makes the world series of poker look like a kids game....  (May 5, 2013 | post #498)

Mining

Price of gold in Ghana

Sir, ------------------ ------------------ ------------------ ----------- Thank you for the response. I am in the exploration and mining business in Ghana....and I can assure you that most of the population are honest, very hard working and very helpful. In fact our company, as far as I known is the only international company that has full Ghanaian partners. Yes of course.....Most outsiders are always looking to buy gold at a impossible low price with terms that are not realistic. And when they are told that impossible low price, they believe, because they want to believe. And also they feel they are just smarter then the locals as they have money to buy and when they fail they blame others when in fact they are the root cause of their own failure. Ghana has very strict protocols for the buying and selling of which just about none of the outsiders understand and they fail,they always fail... I have explained this to many in my Accra office, not one believed, not one - they all told me kind of the same story you are telling, but they felt they were to smart and to rich to fail. When you come to get cheap gold you are going to lose....It is not the Ghanaian who are doing the scams it is the outsiders who think the locals are not gold savvy and just can pay low and go. Play by the rules and you will win every time-- Ghana is a wonderful country in that way. However the only way you can really profit by gold is to explore and find it and then you need to live the life. It will be very difficult to be successful if you come in for awhile then leave and then come back. Live the life, pay the price and hold onto your trusted Ghanaian partner as if he is your life line, as he is ---then you will write a different scenario. If you are in business Ghana you will understand the traps, just like in any other country, and you try to avoid them and most of us learn the hard way, just like you and I include myself in that learning curve. But I also learned because of that to do it the right way. If you ever want to return for a visit you can join me for a cup of lattè and extended information at the Max Mart in Accra. Ghana is an amazingly beautiful country next time take the time and enjoy, then you will always win.  (Jan 1, 2013 | post #409)

Mining

Price of gold in Ghana

Ghana is for the professional gold trader with a lot of cash on hand, and even then it is a most difficult business in which to profit or even get the product. Bluesky was a serious player with good intentions but lacked experience and you will run into the same situation as it is impossible not to...on the first time around or even the second - and Accra is a very expenses city in which to conduct business. Their is a much greater demand than a supply.... Experience is an other word for luck  (Dec 30, 2012 | post #405)

Mining

Price of gold in Ghana

No true blue sky. AA pays cash after testing, a couple of hours or less and then payment. They buy at around 4% off (LME spot for the day) tested purity sometimes less. No-one pays by check all cash, miners do not buy they sell. Miners have no incentive to sell to any one outside the country as they get more in country and with less hassle and get paid the very same day, more in fact than what outsiders are willing to pay. The profit on gold trading is around one percent if that after expenses. AA is one the best, if not the best private gold trading companies in Ghana, by far. We known as our company has business exchanges with said company. In fact we will only deal with AA when we have gold to trade.  (Dec 28, 2012 | post #398)

Mining

Price of gold in Ghana

Not true - if you thought you could buy at less then 3% under the LME then you were scamming yourself, and of course you showed your total lack of experience in this sector. It is sold and purchased every day without problems, and that is 100%.  (Dec 25, 2012 | post #394)

Mining

Price of gold in Ghana

No! not viable ever.......  (Dec 22, 2012 | post #385)