The lease expands Monetary Metals’ gold and silver lease portfolio to include five industry verticals: bullion, jewelry, manufacturers, miners, and now refiners, on four continents.
Investor demand for the lease was substantial, resulting in an oversubscription of the offering. Investors earn a return on their gold, paid in gold instead of incurring vault costs. L’Orfebre benefits from the user-friendly lease structure. The interest rate paid to investors is 2.5%, in gold. The CEO of Monetary Metals, Keith Weiner, commented on the transaction:
“In this age of rampant speculation, gold offers stability. Investments that pay interest in gold reward investors with both stability and yield. The L’Orfebre lease expands our reach and extends these benefits to more investors.”
L’Orfebre is a state-of-the-art refinery in the European microstate Andorra, committed to responsibly sourcing raw gold from South American mines, and refining it using innovative recycling technology.
Bernat Migo, CEO of L’Orfebre, said: “Our mission at L’Orfebre centers around constant improvement in our objective, implementation, and new policies. We’re excited for the future of our partnership with Monetary Metals. They have provided us a reliable and scalable source of gold financing, which will greatly benefit our investors and company as we prepare for higher volume and growth.”
About Monetary Metals
Monetary Metals® is Unlocking the Productivity of Gold™ by offering a Yield on Gold, Paid in Gold® to investors, and Gold Financing, Simplified™ to gold-using businesses (mints, miners, refiners, jewelers, etc.). In addition, the company’s market analysis and proprietary charts, including the gold forward rate, are utilized by gold investors and gold-using businesses globally. The company’s content is widely syndicated on gold, alternative investing, and mainstream sites.
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L’Orfebre was established to help and expand the Andorran economy, becoming a worldwide referent in gold refining. The company is focused on analyzing precious metals, processing scrap jewelry, and fabricating investment gold.