Precious Metals International (incorporating Black Sand FZE)
Black Sand FZE, a wholly owned subsidiary of PMI is licensed as a precious metals and gem trader in the UAE offering a secure supply chain from mine to trade.
PMI currently sources from South America, a major source of world gold, which offers a historically secure political and economic environment in which to operate. Security firms cover the region for secure shipment to Dubai and banks are oriented to international trade. Suppliers are subject to extensive due diligence, and all suppliers are subject to vetting with their respective embassies. /p>
All trading and supply authorisations are checked with Government and Trade Commissions. Supply con-tracts set out the precise terms of trade and volumes.
PMI currently operates in Columbia, Honduras, Chile and Peru.
The UAE provides the ideal trading base, offering a high liquidity of gold into the marketplace. In 2013, 40% of the world’s physical gold was traded through Dubai. The UAE charges no company or personal tax, no import or export tax on precious metals, and offers an easy operational environment and politically stable climate from which to trade.
The Board of Wishbone Gold believes gold and precious metals markets provide an attractive investment opportunity, and one that provides sustainable growth and an excellent exposure to precious metals markets for shareholders. The Board believes that the gold price will continue to strengthen in the medium to long tern, leveraged by increasing global demand, in particular from China and India, and from the role of precious metals as a hedge against inflation during a prolonged period of economic upheaval.
In 2016, the Company has added to the potential of its exploration potential by the acquisition of the UAE based gold trading business Precious Minerals International and its subsidiary Black Sand FZE -
PMI brings existing supply agreements with Colombia and Honduras, and a strong pipeline of further deals.
The Board is acquisitive and is continually reviewing and evaluating precious metals projects globally.