RE: Surprised no-one picked up on...2 Aug 2016 14:20
The blacksands fze website isn't up and running yet but it will allow buying and selling gold. I'm not sure what if any staff will man that site, but previously on the accounts staff costs were zero.
Current trading of the $3 million will allow credit against this cost of gold per week at margins 3-8%. Contracts are in place. Dubai is tax free and corporation tax I think is 10% as its listed in Gibraltar. So revenues will be circa $3-800k per month initially from my understanding of how this works. The profit made will likely be recycled back into the pot to allow more trading up to likely $10 million per week which is 210kg gold or circa 7600 is from memory.
I don't know what other costs come off this IE delivery and insurance but revenues could be as high as $40 million per year on the higher at margin on the maximum traded. These numbers on on their website but that includes the deals in the pipeline. So yes, I am pretty confident on this one. I think safer than high capex gold plays that are not producing. Margins are fixed here so higher gold price the more Wsbn will make.