WHO WE ARE: We are registered group
of company that functions in Mali, Guinea and Burkina Faso having its gold mining pit in Gao and Kayes region of
Mali. We also operate as representative and sales directors for severe gold and
diamond local miners from West Africa region.
WHAT WE DO:
We
mainly specialize in gold, diamond and cotton businesses. Gvgm Mali has a highly skilled management team, with a
focus on growth and consolidation within West Africa. The long term goal of the
Company is to ramp production to a 100,000 ounce run-rate in 2012. Most of our
product is mainly obtained from Mali, Guinea and Burkina Faso and we have been
in operation since September 11th 2007.
HOW WE DO IT: apart from handling our own gold mining project,
we also help to bring our buyers and sellers together for good business transaction.
We negotiate gold, diamond and cotton deals on behalf of our sellers because we
already have a binding agreement that authorizes us as mandate for our sellers
companies.
OUR VISION is to make gold, diamond and cotton business be easier for both parties to trade on and express their interest freely to enable both parties execute a good business relationship in West Africa region.
PROCEDURES:
OUR VISION is to make gold, diamond and cotton business be easier for both parties to trade on and express their interest freely to enable both parties execute a good business relationship in West Africa region.
PROCEDURES:
CIF deals are rare and typically occur only when a licensed gold buyer and licensed gold seller have consummated at least one cash and carry transaction. Our procedure for first shipment is cash and carry deal and the buyer can start with quantity above 500Grams.
However, we are having two (2) procedures that we use to close our transactions which are written below;
1. After an agreement has been sealed by both parties, the buyer will have to meet with the seller for TTM and book date for assay. The seller will deliver the agreed quantity of gold to refinery/laboratory. Both parties shall accept the assay report based on agreement and payment made via MT103-T/T to the seller account. Both parties will have an exchange of ownership and the buyer will take upward responsibility of the gold from the seller’s country.2. The buyer will arrive in the seller country for TTM, sign agreement, inspect their mining site and make arrangement to proceed for exportation. Both parties will take sample and conduct a preliminary test, Upon the buyer’s satisfaction, he will make a deposit of 30% of the total cost of the goods directly to the sellers either in cash or T/T and the sellers will give to the buyer gold as collateral that is equivalent to the 30% deposited and issued an LC or a refinery guaranteed letter for the balance of 70% to ensure the seller’s safety.The seller will proceed to process the exportation documents and commence shipment to the buyer’s refinery. Seller’s rep must accompany the gold to buyer’s refinery and witness the assaying of the gold. Buyer will handle all the importation cost and refinery expenses for the gold analysis and payment for the remaining 70% will be done via MT103-T/T to the seller’s account. The buyer is expected to make full payment of the gold balance to the seller’s account within 72hours and the payment will not exceed agreed time.
This second procedure is valid for the quantity of above 15Kg transaction.
However, we are having two (2) procedures that we use to close our transactions which are written below;
This second procedure is valid for the quantity of above 15Kg transaction.
