Gold has been used as a currency for more than 5000 years and plays a vital role in our monetary systems we see today. It has maintained its purchasing power as it simply cannot be printed. We invest into gold because it is a long term insurance policy, shielding us and our investors from economic turbulence whilst opening the door to great business opportunities.
Our mining operations are based in the Republic Of Guinea, West Africa. Our companies have acquired exclusive land from the Guinea government due to our mining operations being community oriented and our humanitarian efforts in the country. The process; Our gold is mined from the land through our mining companies, and then is purchased by 79th Element at large discounts, in which it is then transported to the UK, cleared customs and then stored in the UK.
Our objective at 79th Element is to purchase gold at discount from our own mines, gold dealers and third party miners using our established relationships to then store gold for the long term future, benefiting from the huge discount we receive when purchasing the gold, market price movement and subjecting our gold to trade platforms. 79th Element controls all aspects of the supply chain, from mining operations to the storage of gold in our vaults in the United Kingdom.
The concept of 79th Element formed as a holding company to store gold, and to back up our mining companies financially. Given that Guinea is a financially unstable country, we believe holding our gold reserves in the UK is a smart option. We then branched out into the investment market, where investors are invited to invest into our company and receive a 12% return. Considering 79th Element purchases its gold from its own mining companies at huge discounts, up to 40%, this has become very profitable and therefore we are now looking to expand on this and take it to the next level.