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Cooma, here is another way to invest in GB, you buy warrants guaranteed by the WA Government and they are traded under ZAUWBA.
The Perth Mint Gold Quoted Product ("PMG") is essentially a right created on-market by Gold Corporation to enable you to invest in gold on the Australian Stock Exchange ("ASX"). PMG is structured as a call warrant in accordance with the ASX Business Rules. Each PMG entitles you to acquire one hundredth of a troy ounce of fine gold on or before the Expiry Date of 31 December 2013 and may be exercised by you at any time before the Expiry Date.
PMGs trade on the ASX under the code ZAUWBA. PMGs can be purchased by investors only on the ASX. They cannot be purchased directly from Gold Corporation.
The ASX price of the PMG is intended to track closely the international over-the-counter market spot price of gold and will be based on the market value of the gold backing a PMG at the time of purchase.
One of PMG's strengths is the status of its issuer. Gold Corporation is a statutory authority of the Government of Western Australia, one of Australia's wealthiest States. The Government of Western Australia's domestic debt is rated AAA by the US international credit rating agency, Standard and Poor's, its highest rating category.
The liabilities of Gold Corporation, including its obligations under the PMG Terms and Conditions, are guaranteed under section 22 of the Gold Corporation Act 1987, an Act of the Western Australian Parliament.
