Thanks for posting that again it is very clear then that Gold.ASX don't lease their gold
Gold.ASX is they have been set up by the WGC (who own 2/3rds of Gold Bullion.com.au) whose members are:
Agnico-Eagle Mines Limited CANADA
Alamos Gold Inc CANADA
AngloGoldAshanti Limited SOUTH AFRICA
Barrick Gold Corporation CANADA
Barrick Goldstrike Mines Inc. Minera U.S.A
Barrick Gold of Australia Limited AUSTRALIA
Cedimin SAC PERU
China National Gold Corporation CHINA
Coeur d’Alene Mines Corporation U.S.A.
Compañía de Minas Buenaventura S.A.A. PERU
Eldorado Gold Corp CANADA
Franco-Nevada CANADA
Goldcorp Inc CANADA
Gold Fields Limited SOUTH AFRICA
The Hutti Gold Mines Company Limited INDIA
IAMGold Corporation CANADA
Inversiones Mineras del Sur SAA PERU
Kahama Mining TANZANIA
Kinross Gold Corporation USA
Metallica Resources Inc CANADA
Minera Barrick Misquichilca S.A. PERU
Minera Yanacocha S.R.L. PERU
Mitsubishi Materials Corporation JAPAN
Monarch Gold Mining AUSTRALIA
Newmont Mining Corporation U.S.A.
Peter Hambro Mining Plc RUSSIA
Royal Gold, Inc. U.S.A.
Yamana Gold Inc CANADA
The Directors are:
Graham Tuckwell Dr Vince FitzGerald Simon Village
Gold ETF's further were set up for ease to the investor - there is an excellent article by Adam Hamilton on the logic of them here:
http://www.zealllc.com/2004/goldetf.htm
As for their source of income I would have thought that it was obvious they charge their customers for storage at a profit and they are supplied direct by the miners above at a good price.
The WGC BTW is a commercially-driven marketing organisation, is funded by the world’s leading gold mining companies. A global advocate for gold, the WGC aims to promote the demand for gold in all its forms through marketing activities in major international markets.
You can become a member of the WGC as I have been for several years.
