Tag Archives: Gold bullion
NEW YORK, June 25, 2012 /PRNewswire/ — Daulton Capital Corp. (OTCBB: DUCP) (to be renamed Celframe Arx Resources Corp) a gold and precious metals exploration company, is pleased to announce that it has entered into a $105 million forward Gold sales contract with Salam International Limited. Salam International Ltd is a Dubai gold trading company which procures gold and sells to large Gold refineries in Dubai & Abu Dhabi, United Arab Emirates. The company has executed a forward gold sale contract for the sale of USD $105 million 99.9% pure gold bullion at a price equal to discount of 5 % (LME -5) to the 2nd London Metals Exchange fixing price on the date of each tranche delivery. The contract is for a term of 36 months and provides for the gold to be delivered 6 to 9 months from the date of signing as Celframe ARX Resources gears up for production at its Queensland, Australia site. The purpose of the forward gold sales contract is to enable immediate working capital to fund ongoing gold production at the ARX Springs project.