Short report. “Russian Gold. Results 2017 and the forecast for 2018”
Yesterday Golden Resources attended a conference “Russian Gold. Results 2017 and the forecast for 2018”. It is short report made by CTO Viktor Nikolaichuk.
In 2017, extracted from the bowels and produced from the “secondary” 318 tons of gold total gold production in Russia. The industry is developing, but there are certain problems. Results on the production of gold in turn were announced by speakers from Federal Agency for Subsoil Management of the Russian Federation, the refinery Krastsvetmet, the analytical agency Thomos Reuters and the Union of Gold Producers. Everyone had different numbers, albeit approximately similar. I immediately came up with the idea that there would be an application of blockcnain, the network participants should be: refineries (8 refineries), Gokhran (State Treasury) and banks that have a license to buy gold (the most active Bank of Russia in the market). Similarly, you can do with the reserves in the bowels. The use of a block of flats will allow to reliably estimate the situation in the industry and exclude a discrepancy in the reporting.
Another problem is investing in gold. Existing methods of investing in gold are inconvenient and unprofitable for investors (18% VAT). On the Moscow stock exchange, gold is trading at 345 thounsand dollars a month. For comparison, on the London Stock Exchange, trading in gold at the level of $168 million per day, Bitcoin at the OKEx Exchange 500 million dollars a day!!! At the same time, as it is known, there is no gold mining in the UK. Bitcoin can not be touched. I wrote about the successes of gold mining in Russia earlier.
Other facts:
- The Central Bank of Russia for the third consecutive year is the most active buyer of gold in the world among central banks. In 2017 gold reserves were replenished by 223 tons of gold.
- Since June 2017, part of the functions in the industrial policy in the gold mining industry have passed under the supervision of the Ministry of Industry and Trade.
- In 2017, state-owned refineries moved privately as a result of privatization auctions.
Russian nature resources’s potential is much higher, than the current result. The market of digital currencies has huge volumes, being still absolutely young. The texture together of these two components will give exclusively positive effect. The name Golden Resources sounds exactly here. Modern way of investment and development of industry. Access to the gold market with gold mining companies assets. The most favorable investments into gold. Comfortable operations in the substantial and various digital market.
