CONFLICT FREE GOLD

Conflict Free Gold bars      OECD Due Diligence Guidance      LBMA Responsible Gold Guidance      Responsible supply chain of gold

CONFLICT FREE GOLD

Auric Gold sells gold bars which are produced by gold refineries whose raw materials are sourced from conflict-free regions and suppliers.

Conflict free gold is a term which has evolved from 2010 during the creation and development of certain regulatory legal frameworks to prevent natural mineral resources from being used to contribute, directly or indirectly, to armed conflict, gross human rights violations, terrorist financing, money laundering and hinder economic and social development.

A large number of minerals resources such as Gold and Tin, Tungsten and Tantalum (“the 3T's”) are located in areas of high conflict and high risk and this provides an overwhelming incentive to armed groups exploit them and trade in them. 

The most prominent regulations related to Gold are:

  • Dodd-Frank Wall Street Reform and Consumer Protection Act

  • OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas, including supplement on Gold

  • The LBMA Pro-Active Monitoring Program

  • LBMA Responsible Gold Guidance

The Dodd-Frank Wall Street Reform and Consumer Protection Act

In 2010, the United States Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act of which, section 1502 addresses the exploitation and trade of Tin, Tungsten and Tantalum (“the 3T's”) and Gold by armed groups, which is helping to finance conflict in the Democratic Republic of Congo (DRC) and contributing to an emergency humanitarian crisis.

In August 2012, The Securities and Exchange Commission adopted a rule mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act to require companies to publicly disclose their use of conflict minerals that originated in the Democratic Republic of the Congo (DRC) or an adjoining country.

http://www.sec.gov/News/Article/Detail/Article/1365171562058#.VPbmM_msWSo

Organisation for Economic Co-operation and Development (OECD)

OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas

The mission of the Organisation for Economic Co-operation and Development (OECD) is to promote policies that will improve the economic and social well-being of people around the world.

In areas and countries where natural mineral resources are exploited, the trade and investment in such resources provides a unique opportunity for income generation, enhancing livelihoods and uplifting standards of living and local development and creating financial prosperity and growth.

The OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas, adopted on 15 December 2010, provides step-by-step management recommendations endorsed by governments for global responsible supply chains of minerals in order for companies to respect human rights and avoid contributing to conflict through their mineral or metal purchasing decisions and practices. The Guidance was amended on 17 July 2012 to include a reference to the Supplement on Gold.

The Due Diligence Guidance may be used by any company potentially sourcing minerals or metals from conflict-affected and high-risk areas, and is intended to cultivate transparent, conflict-free supply chains and sustainable corporate engagement in the minerals sector.

http://www.oecd.org/daf/inv/mne/GuidanceEdition2.pdf

The London Bullion Market Association (LBMA)

The London Bullion Market Association is a London-based trade association whose membership consists of over 140 companies including refiners, fabricators, bullion banks and traders as well as those providing storage and secure carrier services.

The LBMA's main role is the maintenance and publication of the “Good Delivery” lists for gold and silver. The Good Delivery list is a list of gold and silver refineries who have been accredited by the LBMA as being capable of producing gold and silver bars acceptable for trading on the London Bullion Market, the world's largest institutional Over The Counter (OTC) market in gold and silver bullion. 

In 2004, the LBMA introduced the compulsory Pro-Active Monitoring Program which reviews the assaying competence of such accredited refiners every three years.

From 1st January 2012, it became mandatory for all Good Delivery refineries to comply with the LBMA Responsible Gold Guidance. The Guidance is based on the OECD Due Diligence Guidance as well as Swiss and US KYC, Anti-Money Laundering and Combating Terrorist Financing regulations. It is to combat serious abuses of human rights, avoid contributing to conflict, comply with high standards of anti-money laundering and tackle terrorist financing practices.

Version 5 of the LBMA Responsible Gold Guidance consolidates and formalises already existing standards of refiners' due diligence.

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Gold Market News

Adventus, Salazar Announce Additional Drill Results From Curipamba

According to the release, the first phase of infill drilling commenced in early March 2018 with the objective of upgrading the confidence level of the higher-grade portion of the open-pit constrained mineral resource by decreasing drill spacing.

Angkor Signs USD $3.65 Million Earn-In Agreement with Hommy Resources on Banlung Property

Angkor Gold (TSXV:ANK, OTC:ANKOF) (“Angkor” or “the Company”) CEO Stephen Burega is pleased to announce that Angkor has entered into an Earn-In Agreement (the Agreement) with Canadian-based private company, Hommy 5 Resources Inc. (“Hommy Resources”), on Angkor’s wholly-owned Banlung property in northeastern Cambodia. The Banlung property is one of Angkor’s five licenses in Cambodia.

Wallbridge Intersects 122.35 g/t Gold Over 2.95 Metres And 41.02 g/t Gold Over 5.52 Metres In Newly Discovered Habanero Zone

Wallbridge Mining Company Ltd. (TSX:WM, FWB:WC7) ("Wallbridge" or the "Company") is pleased to announce continued positive results from its underground drill program and to provide an update on the ongoing development as part of the 35,000-tonne bulk sample and underground exploration program at its 100%-owned Fenelon Gold Property ("Fenelon").

Algold Reports High-Grade Drill Results at Salma – Eleonore East

Algold Resources Ltd. (TSXV:ALG) today announced preliminary assay results from drilling carried out in July and August, 2018 on the high-grade Salma-Eleonore East Vein System (“SVS” or “Salma”) located at the Corporation’s Tijirit Project in Mauritania. 

Golden Predator Intercepts 8.5 meters of 5 g/t Gold at Brewery Creek Project; Drilling Extends Known Gold Mineralization over 200 m

Golden Predator Mining Corp. (TSXV:GPY) (the “Company”) is pleased to announce the successful completion of a 22 hole exploration and metallurgical drilling program at its 100% owned Brewery Creek Project in Canada’s Yukon, and reports today on the results of the exploration drill program designed to expand the current resource. 

New High-Grade Zone Located North of Gladiator near Surface with 27.4 g/t Au over 7.0 m

Bonterra Resources (TSXV:BTR; OTCQX:BONXF, FWB:9BR1) (the "Company" or "Bonterra") is pleased to announce the discovery of a new high grade gold zone near surface to the north of the Gladiator Gold Deposit with an intersection of 27.4 g/t Au over 7.0 m.

Enforcer Gold and SOQUEM Announce Amended & Restated Mineral Resource Estimate for the Roger Project

Enforcer Gold Corp. (TSXV:VEIN) ("Enforcer" or the "Company") along with SOQUEM today announce the results of an amended and restated mineral resource estimate on the Mop-II gold-copper deposit at the Company's Roger project.

Top Zimbabwe Miner May Pay Suppliers in Gold

Due to a cash shortage in Zimbabwe, gold miner Metallon has floated the idea of paying its equipment suppliers in gold in order to avoid disrupting its expansion plans.

Falcon Adds 41 More Claim Units to Coomer Lake Vanadium-Titanium Project, Northern Ontario

Falcon Gold Corp. (TSXV:FG) ("Falcon" or the "Company") is pleased to report it has acquired through staking, a further 41 mining claim units that are contiguous with its Coomer Lake Vanadium-Titanium property in the James Bay Lowlands in the Porcupine Mining Division of northern Ontario.

Comstock Metals Finishes Surface Exploration at Rawhide Cobalt-Silver Property and Plans Drilling Program

Comstock Metals (TSXV:CSL) ("Comstock" or the "Company") is pleased to report results from its Rawhide Cobalt-Silver Property, Ontario.

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