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Goldmoney Inc T.XAU

Alternate Symbol(s):  XAUMF

Goldmoney Inc. is Canada-based company with focus on the real economy. The Company, through its ownership of various operating subsidiaries, is engaged in precious metal sales to its clients, including arranging of precious metals trading to its clients, including arranging for custody and storage of precious metals for its clients. The Company’s segments include Goldmoney.com, SchiffGold, and Goldmoney Properties. Its Goldmoney.com is an online platform that provides clients with access to their Holding to purchase and sell physical precious metals and arrange for their custody and storage. Its Schiff Gold LLC is a United States-based dealer in precious metals that offers to its clients the purchase and sale of physical precious metals in the form of bars, coins, and wafers with direct-to-client delivery. Its Goldmoney Properties Limited is a United Kingdom-based company that acquires institutional grade property assets with inflation-protected cash flows.


TSX:XAU - Post by User

Post by GMoneyTxon Sep 06, 2024 3:28am
131 Views
Post# 36211172

Customer assets under management

Customer assets under management

I am encouraged by the new Goldmoney Properties business and the substantial cash flows that it will provide over the coming years. Another positive is the continued exposure to precious metal related cash flows through the pm trading and custody services. It will be interesting to see how all the cash flow is allocated.  Surely we will continue to see buybacks considering the current illogical share price. I also would like them to make some modest additions to the properties portfolio, even if it means taking on a little more debt. Our debt level is very manageable.

One concern I have is the continued trend of net outflows of customer pm assets. I have not seen management directly address this. Fortunately for them, the increase in pm prices has somewhat masked this. But it would still be helpful to get management's take on the negative trend. Has it been driven mainly by the increase in interest rates over the last few years, and could reverse as rates go back down? Is it being driven in part by customers simply taking some profits? What steps are they taking to address this issue? 

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