Price of Gold Used in Calculations?

Stan, Whenever I sell Placer Gold, they only pay 70% of the Market Spot Price. Do they pay spot price in Ecuador?

Stan's response: In Ecuador, depending on your buyer, you may receive 85% to 100% of spot price for your placer gold. The higher numbers are paid by money launderers. We suggest keeping it clean.

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Price of Gold Used in Calculations?

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Oct 20, 2010
 Gold Export/Taxes
by: Robert N.

Stan, Seeming you are going to have to do something legit with the Gold. Say you use the services offered. That cost something. After the smelting and sales of the gold. Then you pay your taxes. Is that correct?

Or, are you signing some sheet saying how much you have after the split up. That's reported. Then you pay taxes on that amount of gold.

A lot of Gold to have around on hand without a guard. Say you sell it with the help that's offered. You have some extra you want to take out of the country. How much are you legally allowed to leave Ecuador with?



Stan's response: I'll answer your questions in order:

1. Yes, that is correct.

2. Yes, that is a valid option too.

3. We heavily recommend that you use the secure gold storage service that is offered as part of the Support Services. You should not accumulate a large quantity of gold that is unprotected.

4. You are allowed to legally export any amount of gold that has been legally mined.

With all of that said, you should confirm everything with local lawyers during your Due Diligence visit.
Oct 17, 2010
 Gold Price Used in Calculations
by: Robert N.

You said that the project owner was going to safe keep the Gold after clean-Up and weighing it. I was under the impression that they were going to handle the smelting and selling of the Gold. Is that not true? If not, who stores the miners Gold?



Stan's response: Gold divisions will take place very regularly. Safe keeping, smelting and sales are all optional parts of the Support Services. You can choose from any or all of these services depending on your own preferences.

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