Spectrum Invest follows a structured and transparent gold procurement process designed to ensure that each purchase is properly evaluated, documented and completed in accordance with agreed commercial terms.
We purchase gold based on several key factors, including weight, purity, assay results, prevailing international gold prices, agreed pricing terms and other applicable transaction conditions. Our objective is to maintain clarity and transparency between Spectrum Invest and its suppliers throughout the procurement process.
Before proceeding with a purchase, Spectrum Invest verifies the supplier and reviews the relevant transaction information in accordance with our internal KYC, due-diligence and responsible sourcing procedures.
The proposed quantity, form of gold, expected purity, origin and commercial terms are established before the material is accepted for procurement.
Upon receipt, the gold is checked against the available supplier and transaction documentation. The material is inspected to confirm its general description, form, quantity and condition.
Any significant discrepancy identified during the initial verification may be referred for further review before the transaction proceeds.
The received material is weighed using appropriate weighing procedures and equipment. The verified weight forms an important basis for determining the final gold content and transaction value.
Relevant weight records are maintained as part of the transaction documentation.
The gold may undergo appropriate testing or assay procedures to determine its actual purity and fine gold content.
Depending on the type and form of material received, preliminary testing may be followed by a more detailed assay or refinery analysis. The verified assay result is used, where applicable, for final commercial settlement.
Pricing is established according to the commercial terms agreed with the supplier.
The value of the gold may be calculated with reference to the prevailing international gold market price, together with the verified weight, purity and fine gold content. Any mutually agreed premium, discount, refining charge, assay adjustment or other applicable commercial condition is taken into consideration when determining the final purchase value.
Once the relevant weight, purity, assay and pricing information is available, the transaction details are confirmed with the supplier. This provides both Spectrum Invest and the supplier with a clear understanding of the basis on which the transaction value has been calculated.
Payment is made in accordance with the mutually agreed payment terms and applicable transaction requirements. Where final settlement depends on refinery or final assay results, the payment structure may provide for an initial payment followed by a balance settlement after confirmation of the final results.
Spectrum Invest maintains appropriate records relating to each procurement transaction. Depending on the nature of the transaction, these may include supplier documentation, purchase records, invoices, weight records, assay reports, pricing calculations, payment records and transportation or delivery documentation. Maintaining these records helps provide a clear and traceable audit trail for each purchase.
If there is a material difference in declared weight, purity, assay results or other transaction specifications, the matter is reviewed with the supplier before final settlement. Adjustments, where required, are made according to the agreed commercial terms and supported by the relevant documentation.
Spectrum Invest aims to maintain a procurement process based on fair dealing, clear commercial terms, appropriate due diligence and documented transaction procedures. Through consistent verification, assay, pricing and record-keeping procedures, we seek to provide our suppliers with a professional and transparent procurement process while supporting responsible participation in Niger's gold sector.
