Gold

[JBmurc]

Here is my experience with a miner called Monarch who from memory originally held the Mt Ida permit.

Sept 2007 purchased 25,000 MON shares for $9,028 (~36 cents per share). With an expectation they would be producing gold sometime soon.
Dec 2007 MON did share consolidation so I ended up with 8334 shares
Between 2010 and now the company changed names ownership to Swan to Eastern Gold Fields to Ora Banda Mining. Along with more share consolidations I ended up with 56 OBM shares (I did not sell any since my original purchase). Then I received $12 as part of the compulsory buy back for small holders since on only had 56 shares left.

So overall I lost $9K, and learned a lesson.

Not saying that OBM may not be about to turn things around. But be careful with promises from any small cap companies with promises of "soon to be producing gold". I am currently heavily into NTL so not sure if I need to be taking my own advice above

Yes been there with a few stocks over the years purchased more CVR,NKE only days before going into trading halt to suspension that didn't lift for a year .... Sold out of NAV ,MON,BOK weeks to months before suspension .. just to name a few .. One thing I have learnt is never trust mgmt. and keep a very close eye on operations and cash balance Qtr reports etc ..I always re-access holdings from Qtr reports BUY HOLD or SELL

Out of the hundreds of companies I've traded only been caught out once in the Gold space and lost all of my funds invested in stock opts KBLO ... was a classic didn't spend enough time studying the books and history and listening to the PR hype BS ...luckier didn't commit much funds due to the risk profile

O&G specs has burnt me far more over the years

[RTM]

Hi....this may be a bit off topic. I have a friend who wants to put a portion of his money into gold for 5 or 6 years. He doesn't want stock in a gold mining company. He actually wants the physical GOLD.

He asked me if I knew how to best do this in New Zealand. Well, I have absolutely no idea but I'm imagining that some on here have a very clear idea on how this should be done.

Your direction would be most appreciated.
I should add that we live in New Zealand.

Thanks.
RTM

[Joshuatree]

The other saying is "A goldmine is a hole in the ground owned by a liar". Some people are doomed to make the same mistake over and over and i fear you are one of them chippie, holding NTL. "Fool me once, shame on you, fool me twice shame on me."
I hold NST, EVN and SLR Aus producers atm, am 72% to 156% up , Teranga on the TSX and have a spekky or two.

[jonu]

Hi....this may be a bit off topic. I have a friend who wants to put a portion of his money into gold for 5 or 6 years. He doesn't want stock in a gold mining company. He actually wants the physical GOLD.

He asked me if I knew how to best do this in New Zealand. Well, I have absolutely no idea but I'm imagining that some on here have a very clear idea on how this should be done.

Your direction would be most appreciated.
I should add that we live in New Zealand.

Thanks.
RTM

I haven't personally purchased physical gold RTM, but from what enquiries I have made, you pay quite a hefty premium to the USD per oz gold price. I think you would need to purchase from one of the various minting firms. There maybe an exchange of some sort for people who already hold minted product. But you need to be careful about what you purchase and have surety around purity, hence the need to purchase a stamped valid product that a reputable Mint can provide.

[JBmurc]

I haven't personally purchased physical gold RTM, but from what enquiries I have made, you pay quite a hefty premium to the USD per oz gold price. I think you would need to purchase from one of the various minting firms. There maybe an exchange of some sort for people who already hold minted product. But you need to be careful about what you purchase and have surety around purity, hence the need to purchase a stamped valid product that a reputable Mint can provide.

Yes and when he want to sell it back to the bullion house you will be doing well to get spot price ... at present you can buy 1oz Gold Bullion for touch over $3k NZD present spot price NZD =$2833oz .... so your paying a 10%+ prem .... Silver is even worse at present with the best I can find 20%+ over spot...

Personal If someone wants to hold Gold best dealing with the Perth mint and buy PMGOLD.asx

[JohnnyTheHorse]

Hi....this may be a bit off topic. I have a friend who wants to put a portion of his money into gold for 5 or 6 years. He doesn't want stock in a gold mining company. He actually wants the physical GOLD.

He asked me if I knew how to best do this in New Zealand. Well, I have absolutely no idea but I'm imagining that some on here have a very clear idea on how this should be done.

Your direction would be most appreciated.
I should add that we live in New Zealand.

Thanks.
RTM

This isn't physical gold, but is the next best thing. Use Hatch to purchase the etf AAAU - Perth Mint Physical Gold ETF. Low fees, backed by Australian Government and shares can be converted to physical gold.

https://www.aaauetf.com/

[RTM]

Thanks all for the responses and thoughts. Appreciated.
I've passed them on to my friend.
Food for thought for me as well.

[Entrep]

I know this is the ASX forum but is there a NZX ticker I can purchase for gold price exposure?

[ynot]

This isn't physical gold, but is the next best thing. Use Hatch to purchase the etf AAAU - Perth Mint Physical Gold ETF. Low fees, backed by Australian Government and shares can be converted to physical gold.

https://www.aaauetf.com/

With respect, imho bullion must be physical. It's insurance against a disaster. Paper is not suited to that scenario.

[Entrep]

The problem with US listed gold exposure is the FX risk. I can’t be bothered dealing / compensating for it