$12 million gold bond, non-mining, first in 90 years

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$12 million gold bond, non-mining, first in 90 years

posted on Sep 12, 2024 06:25PM

Monetary Metals completes $12 million gold bond sale, Scottsdale, AZ – 11 Sep 2024

Keith Weiner, Founder and CEO of Monetary Metals:

This bond represents a historic turning point in the financial world. By raising debt denominated in gold, we are showing that businesses can harness gold’s unparalleled value, stability, and productivity. Investors want to grow their wealth with gold, not just preserve it.

This is the first instance of a non-mining company raising gold-denominated debt since 1933. The bond sale raised 4,774 ounces of gold, and pays 6% annually in physical gold.

This bond issue may mark something important for gold and related mining, including LBSR.