Capital at the counter
Sellers are paid on the spot. No consignment, no part payment on assay results that arrive next week, no promise against an export receipt.
Division one
Gold Trading
A self-financed aggregation desk that has bought gold in Ghana since March 2019. Our own capital, our own scales, our own assay, and a written ticket that follows the metal.
Licence position
Trading since March 2019. Aggregator licence application in preparation.
JED-CONFRA's first gold trading licence was issued in March 2019. An application for a Self-Financing Aggregator Licence from the Ghana Gold Board is being prepared. We state this openly because a counterparty running diligence will ask, and it is better answered here than discovered later.
Self-financed
We buy with our own money, which changes how we behave.
A desk trading on someone else's advance has to hit that lender's volume whatever the quality in front of it. A self-financed desk can turn a lot away. We turn lots away.
The right to refuse
If the paperwork does not hold together, or the story about where the material was won does not match the material, the lot goes back across the counter unbought.
One set of figures
The weight and assay the seller watched are the weight and assay on the ticket, in the log, and in the file that goes to a buyer's auditor.
Assay and measurement
Measured in front of the person being paid.
X-ray fluorescence for fineness, a calibrated balance for weight, both displays turned toward the seller. Calibration is checked against a reference weight on a fixed schedule and the check is logged. A seller who disagrees with a reading gets it taken again before anything is signed.
Sourcing footprint
Two offices, one corridor apart.
The corporate office is in Accra. The trading office is at Akyem Kwabeng in the Eastern Region, opposite the Xtra Gold office, which puts the desk inside the buying catchment rather than at the end of a road.
- Eastern Region
- Akyem Kwabeng, Atiwa West, Akwatia
- Bono Region
- Sunyani corridor
- Counterparties
- Holders of a valid small-scale mining licence, and licensed traders
- Delivery
- Contracted security transport to the delivery point, sealed and logged
The record
What a lot carries with it.
A buyer's auditor should be able to pick any lot at random and rebuild it from paper. This is what that paper is.
On the ticket
- Gross and fine weight, and the balance used
- Assay result and the method
- Price basis and the reference it was struck against
- Counterparty name and identification reference
- Licence reference for the seller or the operation
- Date, time and the officer who signed it
In the file
- Identification documents and licence copies
- Stated origin of the material
- Calibration log covering the date of purchase
- Seal number and transport manifest
- Settlement record
- Any refusal, and the reason for it
Selling to us, or buying from us.
Licensed Ghanaian producers and traders are welcome at the counter. Foreign bullion houses, refiners and jewellery manufacturers should start with the partnership page.