Get to know our Mining Circuit
Our West African mining circuit is a broad network in which we work with mining companies from countries such as Guinea, Mali, Ghana, Sierra Leone, and Burkina Faso, to name a few. The group comprises approximately 22 companies directly, and the expanded network includes approximately 30 companies.
We manage companies ranging from medium to large, with varying production levels and different gold purchasing mechanisms and processes. However, they all follow very similar guidelines regarding bank guarantees and procedures. At this point, we should highlight that we have the most flexible mining circuit in terms of guarantees, accepting both SBLC (Stand by Letter Credit), DLC (Documentary Letter Credit), and Blocked Funds.
In addition to enjoying the best discounts in the circuit, and the possibility of being a group of companies, we have a gold bank that allows us to satisfy even the most demanding clients. The great advantage that distinguishes us is that we have no negative history or lack of compliance in any way. We always, always fulfill our contracts, hence the high fidelity and continuity of all our contracts.
Our Seller Mandate for the general circuit, Claudio Molina, has been with us for some time, along with our Mandate Juan Carlos Reyes, Director of Buy the World LTD., and Gustavo Gil, Major Procedure Control and also Director of this company, make up the commercial management team for this important circuit.
The images correspond to the actual product (doré gold) from completed operations.
Appearance, shape, and composition may vary depending on origin, process, and batch.
Final verification is performed through refinery testing.
HOW THE DORE GOLD PURCHASE PROCESS WORKS
It is very important to be very clear about the purchasing processes designed by gold sellers. We will focus on the most secure systems that include delivery with a CIF clause (Cost, Insurance, and Freight), and are supported by a letter of credit, as we mentioned.
First, we must understand the importance of a professional and complete LOI (Letter of Intent to Purchase) with all the information necessary for it to be successful and approved. It must include five key points:
- The letterhead of the purchasing company
- It must be signed by the CEO or legal representative
- Its corporate telephone numbers and email.
- Its content must correspond to a previously submitted SCO (Soft Corporate Offer).
- Passport of the signatory or CIS of the buyer.
This LOI, which will undergo due diligence by our Seller Mandate, will then be approved to lead to an FCO (Final Corporate Offer) and then to the final SPA contract, which will be signed by both parties. This will then lead to the issuance of the financial security instrument for monthly deliveries.
And one of the crucial aspects of this deal is the speed with which this process flows. Once the selling company receives the instrument, it will process the export documents so that the first delivery can be made within 12 to 18 days. We arrive at the airport, and the gold will be transported to the refinery. Payment will be made within 48 to 72 hours so that the parties involved—the seller, buyer, and financier, if applicable—can quickly collect their receivables.
We see this process in the Graph 1.
Graph 1
Master Mandate
Juan Carlos Reyes Agraz
Master Mandate
Juan Carlos is a Mexican-born professional with a strong education in London and extensive knowledge of the sector. He has extensive experience in the world of gold dore, with over 30 years in gold production and more than 20 in this prestigious West African circuit. He is well-versed in African production companies, knowing virtually all of them, as well as the continent’s refineries. He is an expert in procedures, each company’s operating methods, types of gold dore, purities, qualities, production stages, credit instruments, and bank guarantees. He provides us with unparalleled insight and experience, guidance, and the assurance of obtaining gold dore in the quantities and qualities required by our clients.
Major Procedure Control
Gustavo E. Gil
Major Procedure Control
Gustavo, an Argentine professional with a solid background in business and administration, has developed experience and knowledge in the world of gold dore alongside Juan Carlos, having acquired the necessary expertise to thoroughly understand purchasing procedures, the production capacity of each company, what discounts they can offer, and what procedures and bank guarantees must be followed in each purchase and sale process. He has a commercial vision and the flexibility to approve a procedure when appropriate and follow its logical course so that the buyer receives their gold as appropriate.