Reports from Reuters London today state,
“Swiss precious metals refiner Valcambi has made a $16 million offer to buy the assets of Miami-based rival Republic Metals Corporation (RMC), which filed for bankruptcy last year, a source familiar with the matter said on Wednesday.“
Additional sordid details on the ongoing Republic Metals bankruptcy can be found at industry watchdog About.ag‘s website.
For additional background on this ongoing matter, Salivate Metals’ YouTube channel had a report on this Republic Metals bankruptcy just one week ago.
In terms of the largest gold bullion refineries in the world, you can add the South Africa Mint and Rand Refinery to the following list boasting an annual capacity of about 600 tonnes of gold (just over 19.29 million oz).
Valcambi 1600 ton
Metalor 800 ton
Heraeus 500 ton
PAMP 500 ton
— James Henry Anderson (@jameshenryand) April 26, 2018
Note that Republic Metals’ boasts having a 150,000 square foot precious metal refining facility currently mothballed. Claiming an ability to refine up to 7,000 tonnes of silver and gold combined per year (the vast majority of this claim having to be silver as they are unlikely the size of the above major world Swiss gold refineries of which most world physical gold flows through year after year).
With a bankruptcy fire sale price of $16 million USD, one can bet that Switzerland’s Valcambi will be acquiring Miami, Florida based Republic Metals’ refinery scraps for dimes on the dollar.
See for yourself, in this Republic Metals related video we produced less than one year ago.
About the Author
James Anderson has a BA in finance from Loyola University New Orleans. He has both worked and invested in the physical investment grade bullion markets prior to the 2008 global financial crisis.