yet another new way to buy gold

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    The Perth Mint Gold Quoted Product ( "PMG" ) is essentially a right created on-market by Gold Corporation ( “GC” ) to enable investors to trade gold on the Australian Stock Exchange ( "ASX" ) . The PMG ASX Code will be ZAUWBA.

    PMG is structured as a call warrant in accordance with the ASX Business Rules. Each PMG will entitle investors to acquire one hundredth of a troy ounce of fine gold on or before the Expiry Date of 31 December 2013 and may be exercised by investors at any time before the Expiry Date. Investors will be able to exercise their PMGs and take physical delivery in any of The Perth Mint’s bar or coin products, or alternatively they can nominate cash settlement.
    The ASX price of the PMG is intended to track closely the international over-the-counter market spot price of gold and will be based on the market value of the gold backing a PMG at the time of purchase. GC will appoint Market Makers for PMG under ASX Business Rules, thereby ensuring trading liquidity.
    PMG is a WA Government Guaranteed Product
    GC is a statutory authority of the Government of Western Australia, one of Australia’s wealthiest States. The Government of Western Australia's domestic debt is rated AAA by the US international credit rating agency, Standard and Poor's, its highest rating category. The liabilities of GC, including its obligations under the PMG Terms and Conditions, are guaranteed under section 22 of the Gold Corporation Act 1987, an Act of the Western Australian Parliament.
    The PMG is a securitised extension of GC’s successful precious metal depository business, which offers investors the most secure gold accounts in Australia.
    PMG is fully backed by gold
    The PMG will be fully backed by gold owned by GC. GC will purchase one hundredth of a troy ounce of fine gold for each PMG it sells to you. Every 100 PMGs investors exercise will entitle them to take delivery of 1 troy ounce of this fine gold.
    GC intends to store most of the underlying PMG gold in its vaults in Perth, Western Australia. To cover storage, insurance and other costs associated with PMG, GC will charge investors a PMG Management Fee. For the period to 31 December 2003, the fee will be fixed at a rate of 0.333% annually.
    Product Disclosure Statement
    A Product Disclosure Statement ( “PDS” ) for the PMG will be available on 6 May 2003 from the investment section of The Perth Mint’s website at www.perthmint.com.au. Interested investors are invited to leave their contact details on GC’s website or contact GC directly on the numbers below.
    Further information:
    Michael Kile, Manager, Business Development, Tel. ( 08 ) 9421 7410
    Bron Suchecki, Business Analyst, Tel. ( 08 ) 9421 7250

 
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