BrownAdder7 Jan 2019 19:01
A quick search has shown that it costs between US$850 to US$1200 to produce the certified one ounce of gold. (Corrections welcome, as ever)
Regarding revenue from "Tally", it is my understanding that this will come from three fees:
1. A percentage charge for converting cash deposit to actual gold,
2. A percentage charge for storage/insurance,
3. A share of the fee charged to merchants by Mastercard.
On point 2, if 100,000 accounts deposit US$10,000 (US$1,000,000,000) and hold for one year as an investment, a 1% profit is US$10,000,000 (2% for storage/insurance). Even at 0.5% there's US$5,000,000 profit, without anything from the other charges, plus whatever income is derived from the "B2B" component.
I agree with selling the mines to solely focus on the banking aspect.
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DYOR
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