GOLD DUST

We KEINI-KEINTO INTERNATIONAL LTD are ready and able to supply you with Alluvial gold of very fine purity, we require end Buyer’s presence for a preliminary assay at the geological survey department before any shipment could be effectuated. In a situation whereby, the Buyer is not able to travel to meet the Seller, Seller is willing to sell on a CIF basis and will accompany goods to the end Buyer’s designated country of choice where payment will be made after refinery assay report. Bellow is the characteristics and sales procedures of the gold.

COMMODITY SPECIFICATIONS:

  
a) COMMODITY: Aurum Utallum (AU)  

b) FORM: Gold Dust.
c) Purity: 91.3% like minimum value and 93.4% like maximum value.
d) Fineness: 22+ carats plus
e) ASSAY: Final assay to be made by the refinery and this value will be accepted by both buyer and seller.
 f) ORIGIN:    Sierra Leone, West Africa.
g) PACKING:  Export Package Boxes or any other suitable packaging commonly used in the trade.
QUANTITY: The contractual quantity for sale to the Buyer Under the terms of this Agreement shall be a purchase of gold dust of 1500kg.

  
PRICE:

 
The total price payable by the Buyer is fixed at (12.000.00$ per kilo of gold dust) for delivery as FOB. This price is the sum of the amount to be paid to Seller (11.000.00$/kg for a purity of 92%) and the amount to be paid to Agents and facilitators of both sides (1,000.00$/kg).

The buyer is responsible for all the costs of export and import of the merchandise from its origin, to its destiny.

DELIVERY TERMS:

a) The delivery terms for this FCO shall be on FOB basis.

b) The final assay certificate from refinery assigned by buyer shall be the final proof of quality and quantity/weight.

c) All the expenses of refined, rates of export and import, transport, insurances, etc, they aren’t included in the price indicated in the corresponding section. The Buyer will be responsible for all these costs.

d) The merchandise will be given to the Buyer once the result of the purity obtained in the refined gold is emitted by the refinery. The merchandise will be guarded by the refinery, to the Buyer. The ownership of gold still remain  under the Seller, until it automatically passes to the Buyer, only once the payment is effected as per this FCO through bank-bank transfer in favour of the Seller.
e) A company specialized in the international transport selected by the Buyer/Seller to take charge of all the related points with the logistics in the transport from country of Export to country of Import.

f) The Seller will be willing, able and ready to accompany merchandise to the end Buyers’ designated country of choice. The Buyer will be responsible for Sellers’ ticket and accommodation.

PAYMENT TERMS:

  
a) The Buyer will guarantee the Payment of the Gold Dust against delivery of the gold and Assay Documents to the Seller.

b) The payment will be by means of bank-Bank transfer of 48-72 hours after the emission of the assay report from the refinery.

DOCUMENTS:

  
Each delivery shall be identified with all appropriate contract reference codes and numbers. Seller must provide the following documents to Buyer:
a.) Three originals of Commercial Invoices in favour of the Buyer.

b.) Certificate of Origin. 

c.) Certificate of Ownership.

d.) Certificate of Movement.
e.) Declaration that the product is free and clear and of non-criminal origin, unencumbered     and free of any liens, transferable and exportable.
f.) Gross weight and net weight.  

g.) all necessary document for the export-import of gold.

PROCEDURE: (In time sequence)

 
First (1st) Step:

Interchange of FCO + DRAFT CONTRACT, and any documentation to support the transaction from Buyer/Seller.

 
Second (2nd) Step:

The collaborating refinery accept the accomplishment of the services stipulated in the sales purchase agreement (smelting and total protection of the merchandise until the final delivery to the Buyer once the payment terms agreed above have been met ) and emit a document ratifying their conformity in making these services.

 Third (3rd) Step: Options for the signature of the contract:

a)     Signature of the purchase contract face to face, in the country of export of the merchandise. By the Buyer or his representative, agent will travel to the export country, and the costs of transport and accommodation on end Buyers’ cost.

b)     Seller of his representative will accompany merchandise to the end Buyers’ designated country of choice after all the necessary documents and conditions levied by the local government have been met (taxes)      

CHARACTERISTICS OF THE GOLD DUST

Deleterious elements in refining material:

In the following, the most common impurities in refining result are accepted and limits are formulated below to which are alluvial gold dust is acceptable without additional amounts being charged to the Seller.

These limits are to be considered as indications by the refinery and have to be re-evaluated depending on the alluvial gold dust and the process of refining it is destined for.

Class 1:             Impurities, which are hazardous to personal and environment

Element                                                         Acceptable levels

Radioactive                                                   none

Mercury                        Hg                           none

Arsenic                          As                            max. 100 ppm

Cadmium                      Cd                           max. 100 ppm

Class 2:             Impurities, which can disturb the refinery process and as well influence the

                          Environmental protection processes:

Element                                                          Acceptable levels

Lead                                Pb                           max. 3%

Tin                                   Sn                           max. 3%

Selenium                         Se                            max. 500 ppm

Tellurium                        Te                           max. 500 ppm

Bismuth                            Bi                           max. 100 ppm

Antimony                         Sb                           max. 100 ppm

These are other elements, which may be present in refining alluvial gold dust, that do not have hazardous properties or disturb the processing significantly if present in minor quantities, but may disturb the homogenization and sampling due to the fact they produce a heavy segregation when the metal solidifies

These elements in particular are:                      Iron                    Fe

                                                                          Nickel                 Ni

                                                                          Cobalt                Co

This list is not representative for all material compositions and subject to adjustment by refinery in case of necessity. In case of alluvial gold dust supplied by Seller contains impurity that are deleterious to other persons or to the refining process, Buyer shall have the right to either

·         Reject the shipment; all expenses incurred by Buyer in connection with the rejected shipment being for the account of Seller, or

·         Ask for additional payment from the Seller in order to cover any additional cost, Buyer incurs in connection with such deleterious elements.

APPENDIX (III)

 Standard procedure weighing, sampling and Assaying

1.                     Weighing and sampling

1.1                      Upon receipt of the shipment at its promises the refiner shall immediately inspect the boxes / containers and ascertain the gross weight of the shipment.

1.2                      In case any of the boxes / containers arrive damaged, or any of the seals on the boxes / container are broken, or the total gross weight of the shipment has calculated / determined by the refiner differs by more than 1 (one) percent from the gross weight advised by the “Seller”, the refiner shall immediately inform the Buyer Mr.…….. by facsimile of the extent of the damage to the boxes/containers or to the seals, as the cause may be, and / or the reference in the gross weight and request approval to proceed with the weighing and the assay. Buyer Mr.………….. Will advice Seller accordingly. Pending approval from Seller to proceed with the process, the shipment shall be safely stored in the vault of the refinery.

1.3                      In case the shipment arrives outwardly sound and with a total gross weight within the agreed tolerance of one percent (=1%), the refiner shall confirm receipt of the shipment to ………………, within one business day.

No later than on the second business day following receipt of the shipment, the refiner shall weigh the alluvial gold dust and compare the net weight arrived at with the net weight given by Seller. The refiner shall use an electronic balance having a tolerance of +/- 1 gm.

In case of a difference of more than 0.2% (two tenth of one percent) between net weight of the alluvial gold dust as calculated by the refiner and the net weight advised by the Seller, the refiner shall inform Buyer by facsimile of such difference without delay and request approval to proceed with the assay of such alluvial gold dust using the net weight arrived at by the refiner, bending approval of seller, disputed alluvial gold dust and the packing material of such alluvial gold dust shall be safely stored in vault of the refiner.

In case the net weight arrived at by the refiner is within the agreed tolerance of 0.2 percent (= 0.2 %) the refiner weight applies.

1.4                      Seller undertakes to inform Buyer…………….. of the action chosen with respect to a shipment or disputed alluvial gold dust for which approval had to  be requested as soon as possible and Buyer………… undertakes to act in accordance with the instruction received from the Seller as soon as is practical.

1.5                      One sample shall be set a side by the refinery for the impure, should the impure be needed.

2.                     Representative       

2.1                      Seller shall have the right to appoint at its own expense a representative to supervise the weighing and sampling operations.

2.2                      Seller shall inform Buyer of the name, address, telephone number and facsimile number of its representative and of the authority delegated to him latest when advising the shipment.

3.                     Assays, splitting limits and  Umpire

3.1                      Assays of the samples taken shall be carried out with the corrected fire assay method.

3.2                      Difference between the Seller result and the refiners result shall be settle in the following manner:

3.2.1                 If the difference is equal or less than  +/- 0.03% ( three hundredths of one percent) for gold the assay result of  the refiner shall be taken as the agreed settlement assay;

3.2.2                 If the difference exceeds the limit under 3.2.1 either Seller or Buyer…… may request a repeat assay;

3.2.3                 If the result obtained at the occasion of repeat assay is still out side the limit under 3.2.1 either Seller or Buyer……. May request an umpire assay;   in case of umpire assay the sample reserved for  this purpose shall be used;

3.3                      In event of an umpire assay the settlement assay shall be as follows:

3.3.1                 If the umpire assay report fails inside or out side the result of the Seller and the refiner the assay result nearer to the umpire result shall apply.

3.3.2                 If the umpire assay result is the exact mean between the Sellers and the refiner’s result the assay result of the umpire shall apply.      

The costs of the Umpire shall be borne by the party whose result is further away from the Umpire’s result; if the Umpire’s result is the exact mean of the result of the Seller and the refiner the cost of the Umpire shall be split between the Seller and Buyer………………