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GOLD 4,025.45 / oz Δ USD −42.07 −1.03% GOLD 129,421.22 / kg Δ USD −1,352.42 −1.03% 1W +0.02% 1M −2.74% 1Y +0.02%

Sell Gold Doré — Assay-Based Purchase

We purchase gold doré of 70–90% fineness in lots of 20 kg and above. Pricing is set by net gold content from an independent Heraeus assay. Settlement is made under a documentary letter of credit from a major international bank, released against the assay report.

Why Valuation Happens After the Melt

Doré is non-uniform, so the gold figure can only be fixed after the bar is melted and a sample is assayed — not from any figure stated beforehand.

Doré Is Not Uniform

Metals distribute unevenly through a cast doré bar, and gold content shifts with the feed material and the melting practice at origin — two bars from the same producer can assay differently. The actual gold content is a property of the whole bar, not of any single point on it.

A Fire Assay Needs a Uniform Melt

Fire assay is the international reference method for gold content, but it measures a sample — and a sample represents the lot only when it comes from a uniform melt. The controlled re-melt exists for this reason: it homogenizes the batch so the sample carries the composition of the whole lot, and the assay report issued on it can stand behind the price.

Melt First, Assay Second, Price Last

Hence the sequence. A weight or fineness stated before the melt is planning information; the settlement figure exists only on the assay report, drawn from the homogenized lot.

Refined and Assayed by Heraeus Precious Metals

Doré is refined and assayed by Heraeus Precious Metals — the gold weight behind every settlement comes from a Heraeus assay report. Heraeus is one of the world’s largest precious-metals refiners: founded in Hanau, Germany in 1851, privately held, around 12,500 people across the group, with LBMA Good Delivery operations in Germany, Switzerland and Hong Kong. The group’s Swiss refinery, Argor-Heraeus, sits on the LBMA Good Delivery referee panel.

The seller carries no exposure on either side of the deal. Payment is guaranteed by the documentary letter of credit, issued by a major international bank before the material moves — the funds sit behind a bank’s commitment, not a promise from Golden Ark Reserve. The gold figure is guaranteed by the assay report: Heraeus, an LBMA Good Delivery producer, puts its own name behind the accuracy of the result. Payment is that certified gold weight at the agreed price — a figure the seller can recompute line by line from the report.

Transaction File and Compliance Gating

The Transaction File

Five documents close the transaction:
  • the purchase agreement
  • the melt and sampling report
  • the assay report
  • the settlement confirmation
  • the compliance record
Each one references the identifiers opened at intake, so the file reads as a single chain — from the sealed batch through the assay result to the released payment.

For the seller the file does real work: it answers a bank’s questions about an incoming payment from a gold sale, and any later query about the transaction resolves against it. The company profile publishes the contracting entity’s registrations and identifiers.

Compliance Gating

Compliance gating finishes in full before any intake is booked. Verification covers:
  • the seller’s identity, with beneficial ownership where the seller is a company
  • the origin and supply-chain history of the material
  • sanctions, PEP and adverse-media screening — OFAC, EU, UK, UN — via Refinitiv World-Check
  • conflict-affected and high-risk area (CAHRA) indicators
This counterparty due diligence runs under Golden Ark Reserve’s Responsible Precious Metals Supply Chain Policy, aligned with the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals, the LBMA Responsible Gold Guidance, and the RJC Code of Practices behind Golden Ark Reserve’s Responsible Jewellery Council membership.

With checks complete in advance, every batch that travels can settle, and the timeline fixed at booking stands. Compliance & Legal documents the broader framework — AML and KYC controls, licensing, risk management.

What Gold Doré Is

Gold doré is a semi-refined alloy produced from mined material or recycled gold, typically containing 70–90% gold with varying levels of silver and base-metal impurities. Doré requires melting and independent fire-assay verification to determine its actual purity and value. It is not an investment bar but a raw material that must be refined before institutional trading or settlement.

The Doré Purchase Process

Gold doré purchase process showing doré receipt, melting and homogenization, sampling, assay report, and client payment based on verified metal content.

How a Doré Purchase Works

From intake to payment, every step is documented — and the figure the seller is paid on comes from an independent Heraeus assay, not from Golden Ark Reserve.

  1. Onboarding

    The seller makes contact and submits the lot details and company documents. Compliance screening is completed before the transaction is booked.

  2. Terms Agreed

    The purchase parameters are set: the discount to the LBMA Gold Price — the single commercial variable — together with lot size, logistics and timing.

  3. Purchase Agreement Signed

    The agreed terms are fixed in a purchase agreement between Golden Ark Reserve and the seller.

  4. Letter of Credit Issued

    A documentary letter of credit is opened through a major international bank in the seller’s favour, before the material moves. The bank’s payment commitment is in place first.

  5. Doré Shipped to Hong Kong

    The seller ships the lot to Hong Kong against the letter of credit already in place. Brink’s takes receipt on arrival and moves it to the refinery under a documented chain of custody.

  6. Melted & Homogenized

    The bar is melted and granulated, turning a non-uniform cast into homogeneous metal so a sample drawn from it carries the composition of the whole lot.

  7. Assayed by Heraeus

    Heraeus issues the assay report, stating the certified gold content of the lot. As an LBMA Good Delivery producer, Heraeus puts its own name behind the accuracy of the result.

  8. Payment Under the Letter of Credit

    The certified gold weight, at the agreed price, sets the amount — paid to the seller under the letter of credit already in place.

What We Purchase: Acceptance Criteria

Until a lot has been through the melt, every figure attached to it is provisional — the post-melt fire assay decides both acceptance and price. Four criteria define the standard purchase model:

  • Gold Doré, 70–90% Fineness

    Lots whose fire-assayed gold content falls between 70% and 90%. The post-melt result alone qualifies a lot.

  • Re-Melted Recycled Gold

    Accepted once melted into a uniform doré form. A representative assay needs a fused, homogeneous body; loose scrap and grain in their original state fall short of it.

  • Mixed-Composition Doré

    Other metals and impurities are part of normal doré composition and pass acceptance. They shape the recovery profile, and payment covers net gold content only.

  • Minimum Lot: 20 kg per Batch

    Below 20 kg, the fixed per-batch costs of assay, handling and processing outweigh what the discount model is built to absorb. Larger volumes run as one or several batches against furnace and logistics capacity.

Settlement

Shipment Secured by DLC

Doré settles under a documentary letter of credit — the single payment route for doré purchases. The DLC is opened through a major international bank in the seller’s favour before the material moves, so a bank’s payment commitment is in the seller’s hands before the metal leaves their control.

Released Against the Assay Report

After the melt, the laboratory issues the fire-assay report stating the actual gold weight in the lot — on the business day after the melt in the standard sequence. That weight, at the agreed price, sets the transfer amount, and the seller is paid under the letter of credit.

How the Amount Is Calculated

The payout is two figures: the net gold content on the Heraeus assay report, and the LBMA Gold Price less an agreed discount fixed before intake. The discount is the only commercial variable — it consolidates refining, recovery and handling into one number. Everything else is public or certified, so the seller can recompute the amount line by line. Payment covers gold only; silver and base metals form the recovery profile and are already priced into the discount.

Start the Onboarding Process

To start working with us, email Golden Ark Reserve with the details of your lot. Pricing is set by the independent Heraeus assay, so an enquiry only moves forward once there is a real, documented lot behind it. Lots start at 20 kg. To begin, send the following:

  1. Bar Photos and Smelting Video

    A clear photograph of the doré bar and a video of the smelting process.

  2. Existing Assay or Test

    Any existing chemical or assay test of the doré.

  3. Lot Weight

    Total weight of the lot.

  4. Mine and Licence

    The mine name, country and mine licence.

  5. Company Registration

    Company name, country of incorporation and business registration document.

  6. Contact Person

    Name and contact details of the person handling the sale.

  7. Please prepare and email the requested information to onboarding@goldenarkreserve.com

    Send e-mail for review