Silver X Mining Corp V.AGX

Mene Fee Increase

[GMoneyTx]

Just checked the Mene website and it looks like the company has doubled its fee to approx. 40%. This may help explain the increased interest in the stock.  Mene still provides superior value to traditional jewelry companies.

[tankumo]

Really?  40% seems very high, I wonder if customers will start complaining. The fact that MENE would raise the fee means the demand is strong. That's good for company's profit, but I hope that will not turn away customers.

[GMoneyTx]

Even after the fee increase, more than 70% of the purchase price is attributable to the gold / platinum being bought. If you buy from another jewelry you will likely receive closer to 20% of your purchase price in actual precious metal. 

[lamothze]

Some items have less premium... around ~28% but yes above the ~20% it was at the beggining. I guess at 20% it was too near to the premium currently on gold coins maybe they don`t want their inventory to be bought out by coins stackers wanting to buy gold without the delays on getting coins at certain online coin dealers.

[tankumo]

Good point. Does anyone know when did the fee increase? A month ago, a week ago? Thanks.

[michaelstl]

We know that the earnings are coming out within the next few weeks.  I guess that we will get the story then.  However, an increase is fees looks very good in this market.  Probably not much competition in thie niche market. 

[tankumo]

Agree. Kitco does sell 24k jewelry but their selection is more limited. I don't think the CEO plans to sell his company, I have a feeling that he is in for a long haul.