RE:Selling Gold Mongolian way..why not sell each oz 5x?That's quite unusual, ....Ogo....What i understood from below news is STGO have to sell gold to TDB (trade & development bank of mongolia) to repay Gold-II national programme loan support.
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2601-tsx/stgo/84887-steppe-gold-secures-initial-tranche-of-debt-funding-for-phase-2-expansion.html https://www.tdbm.mn/en/36/c .... it's kind of gold collateralized off-take loan "hybrid" contract. But it's national programme supporting gold miners, i can understand this. About Capitron bank's gold collateralized loan contract,... i am really impressed, no idea....
https://www.capitronbank.mn/d/%d0%b0%d0%bb%d1%82-%d0%be%d0%bb%d0%b1%d0%be%d1%80%d0%bb%d0%be%d0%bb%d1%82%d1%8b%d0%bd-%d0%b7%d1%8d%d1%8d%d0%bb?lang=en&type= Capitron bank's requirement: "Collateral property ownership certificate"....so bank requiring a collateral, as usual. Either it will be a gold or mining assets (license + tangible asset)........illogical, STGO have to sell gold/silver to Triple Flag according to Stream agreement but all their gold collateralized in 2 local banks, Capitron & TDB..... How they selling gold to Triple Flag?
+ From the last summer update:
Moderator asked: You sold 6,558 gold ounces at average realized price $1,852, in total $10,771,000, it should be 6,558oz x $1,852 = $12,145,416.....why the gap, is this still under receivables?
Aneel replied: Certainly not us, we're not reporting sales as receivables.........that's Jeremy question.....
Bataa CEO was quiet there, nothing replied.......Hah what a wonderful Webiner........Around $2M gaps in last sales + 21k oz silver lost from last year....Eating gold silver? UFB