I have heard from one person who either did not get the June payment or did not get it on time. I have just been told by Elemetal Vault that the metal purchased by Elemetal Vault customers is located in a Brinks vault in a different state. I'm not Wikileaks; I will not normally post any documents that were not intended to be public (but appreciate receiving copies). The glass company alleges that Elemetal has refused to return the metal. Elemetal Mint Silver Rounds. Elemetal plead guilty in March, 2018 for failure to maintain an adequate anti money-laundering program and fined $15M (one source states that "internal emails indicate that the refinery’s executives were aware that the gold it received from Ecuador and Bolivia was being smuggled from Peru following Peru’s crackdown on illegal gold". The bar was was marked ".9999+ FINE GOLD" (with the certificate stating ".9999 FINE GOLD"). They wrote: "On November 16, 2017, Pedro David Perez Miranda, a/k/a “Peter Ferrari,” a/k/a “Peter,” 57, of Lima, Gian Piere Perez Gutierrez, a/k/a “GP,” 33, of Lima, Peter Davis Perez Gutierrez, a/k/a “Peter Jr.,” 33, of Lima, and Jose Estuardo Morales Diaz, a/k/a “Pepe Morales,” 50, of Lima, were charged in a single-count Indictment for their alleged participation in a gold money laundering scheme (U.S. v. Miranda, Case No. Elemetal recently told refining customers that they are "pleased to report that paydowns will continue, though at a reduced pace." gold or silver), the purity shown on the bar/round, how it was tested, the brand (Elemetal, NTR, or OPM) and the results. First, let me say that Provident does not have the red flags that Tulving, Bullion Direct, and NWT did (serious delays in shipping orders). And we have heard that the Bank of Nova Scotia has come after bars at that location. *Update: Unsubstantiated reports are now indicating that Scotia Bank has recalled its entire line of credit extended to Elemetal, and that Elemetal is currently in the process of shutting down operations entirely at its Jackson, Ohio facility (formerly known as Ohio Precious Metals) with all product being returned to Scotia Bank at the conclusion. Elemetal Mint is a quality private Mint based in the United States that produces a variety of bullion products for nearly any purpose. But like the Provident Metals lien, this lien applies to metal likely held in Elemetal Refining's vault, the same place where Elemetal Vault's metal is held. The Doc Is Not An Investment Adviser And Information Obtained Here Should Not Be Taken For Professional Investment Advice. In the meantime, I now have the details behind the OPM 1oz gold bar serial numbering system. For nearly 48 hours, my second post would show up in my browser as "Pending Moderation", so presumably the public could not see it. Again they say they have a goal of "paying all Ohio-refinery customers in full.". As such, any unwarranted ELEM gold (100-troy ounce bars and kilo bars) and silver at Exchange-approved depositories will no longer be deemed, or reported as, eligible for registration. Within 2 months, Loftus announced that DGSE was in negotiations to buy Elemetal Recycling, for about $20M. "Our boss is in England and won’t be back until it's too late! Fortunately, Provident Metals appears to be getting orders out in a timely fashion. No answer. October 19, 2017 7:00PMM EST UPDATE: I have heard from an Elemetal customer that this most recent payment was about 6% of what the October payment was supposed to be. The COMEX has suspended registration of the Elemetal Refining, LLC gold and silver brands (sister company of Elemetal Direct and Provident Metals, one of the largest Precious Metals Wholesalers and […] The Analysis And Discussion Provided On Silverdoctors Is For Your Education And Entertainment Only, It Is Not Recommended For Trading Purposes. Was there a lien on this metal? That suggests that Provident is in acceptable financial shape, and if they are getting all orders shipped out quickly, it strongly limits the number of customers who would lose money in the event of a bankruptcy (for customers purchasing metal for delivery; Elemetal Vault is a separate story). April 24, 2017 5:10PM EST UPDATE: I have heard that Elemetal Capital is actively selling metal, as of at least a few hours after their E-mail to customers. They started working at NTR in 2008, 2011, and 2013. And while the public might tolerate to some extent involvement with criminal organizations that are destroying the environment mining gold, there is no way the public will tolerate the support of terrorism. Nor does Elemetal Vault. From the names it would sound like one does refining and one does minting. NTR/Elemetal was issued subpoena(s) last year that they provided documents in response to. The results were .99984. The final person tested a wide variety of Elemetal/NTR/OPM silver products (using electrical resistivity), which all tested fine. However, Elemetal Refining has made gold/silver bars long before Elemetal Mint existed (e.g. Elemetal would refine it, the glass company would sell part of the silver to cover Elemetal's fees, and Elemetal would return pure silver. UPDATE June 26, 2017 1:10PM EST: I have heard that Kitco is paying $1 below spot for NTR/Elemetal/OPM/Provident silver bars (versus $.25 under spot for others), and $20 below spot for NTR/Elemetal/OPM/Provident gold bars (versus $7.50 under spot for others). However, I would personally be much more thorough before placing orders with Provident (e.g. We Do Not Share In Your Profits, And Thus Will Not Take Responsibility For Your Losses As Well. The "not segregated" means that all the metal is lumped together (there is no box with your name on it). At .99984, it would have 60% more contaminants than marked. Barrage agreed to pay back $850,000, and Granda agreed to pay back $466,000. As with my last post here, until Provident responds, I cannot recommend that people do business with Provident Metals. Sending the metal to scrap processors would be an excellent way to treat newly purchased inventory in this case, except that it could significantly hurt Elemetal's business for those few weeks: some people will feel ripped off, some may switch to another wholesale bullion dealer. So I'm stuck on that lead, even though logic suggests that if this were not true, Dillon Gage would immediately respond saying so (who turns down extra business?). Special Executive Report But the day after that article was published, the U.S. Attorney started an indictment against 3 NTR/Elemetal employees, including the two salesmen mentioned above, with the criminal complaint accusing them of money laundering (including such texts as "We need more Peruvian gold from Bolivia and Ecuador. No code necessary! We cannot assume unsubstantiated reports to be true. Your Own Due Diligence Is Recommended Before Buying Or Selling Any Investments, Securities, Or Precious Metals. But within the past 3 hours, my second post does not even show up in my browser. The Justice Department says that the 3 Elemetal employees that plead guilty last year state that they had "conspired to purchase billions of dollars of criminally derived gold ... through Elemetal LLC, a dealer in precious metals ...". One of the two owners had as much as $6M of futures contracts in play. Provident had presumably been using either Elemetal Refining or Elemetal Mint for their silver bars. The Commentary On Silverdoctors Reflects The Opinions Of The Doc And Other Contributing Authors. I have set up a simple page that lets you test to see if the serial number on an OPM, Elemetal, or NTR appears to be valid. As far as I can tell, this is all news that did appeared in national media more than 3 months ago. We know that 3 Elemetal (a/k/a NTR Metals) employees were arrested and indicted, and Elemetal assisted in the investigation of the employees. Although OPM is not required to follow ATSM specs, from what I understand iron reacts with gold in a way that alters the resisitivity. So while Elemetal Refining is effectively insolvent (it is still having troubles paying back customers who have been owed money for over 6 months), Elemetal Vault seems to be doing fine. It was pickled in aqua regia to remove surface contaminants. He also tested 10 OPM/NTR gold bars, of which 9 passed. Elemetal does not make it clear what the differences are (or were) between Elemetal Refining and Elemetal Mint. I am not suggesting that Elemetal or Provident would lie, but a prudent investor must assume the possibility of a lien exists. Early in the saga, the Compliance Officer rejected an account expected to bring in $250M annually because of the involvement of someone known by the Compliance Officer to be a "gold money launderer". At least one of the 3 NTR Metals Miami employees that were arrested spent most of his time working out of an office in Peru, not in Miami. Again, if you have any information that might be useful, feel free to leave an anonymous tip. The next payment was scheduled for June 15, 2017, with another 20% to be paid. The stored metal is in a vault that has metal that 2 banks have liens on, so this is more than a trivial question. improve inventory management as well as fulfillment operations.". Today, a customer reported that they received a letter stating that a further payment was made, which appears to be another one of these "tiny" payments. However, one of the heads of the company left by March, 2017. / Elemetal gold and silver shut down. Effective March 31, 2017, 6:00 p.m. Central Time (CT), Commodity Exchange, Inc. (“COMEX” or “Exchange”) will suspend registration (warranting) of the Elemetal Refining, LLC (ELEM) gold and silver brands (Brand Mark “ELEMETAL REFINING AND JACKSON IN A CIRCLE WITH A STYLIZED E AND M IN AN INNER CIRCLE”) for delivery against the Exchange’s Gold and Silver futures contracts. And the exhibits show that Elemetal refers to the glass company's metal being "credited to pool account to be returned" (suggesting it would be Elemetal's metal). Although this could be done for any reason, it is likely that the metal was returned to them.

.

225g Self Raising Flour In Cups, Facebook Premium Apk, Lorraine Stanley Daughter, Australian Land Hermit Crab, Volver Essay Questions Aqa,