Gold scam alert 🚨 must read

a gold buyer, diamond buyer? 

Are you tired of the scam stories, non perfomances from so called sellers? 

Only serious and genuine buyers will be attending to, I do not entertain time wasters, if you are a direct buyer of gold/diamond, then contact me for business for a long term. 

We are located in Kumasi Ghana and can supply gold to any part of the world. 
Minimum quantity of 10 kilosgrams and Maximum of 150kilos grams per shipment. 

Kindly contact me for more details. EMAIL: 

Steve KGOLD AND DIAMOND SCAMS17-Jul-2019 13:54Security agencies have arrested a syndicate of Ugandan, Congolese and Cameroonian fake gold dealers for allegedly conning a Chinese investor. 

Mr Star Yang, a Chinese national was lured to travel to Uganda with the prospect of buying gold. Upon reaching in Uganda, he was linked to one of the suspects, a 40-year-old residing in Kabowa, Rubaga Division in Kampala District who said he had a company which deals in gold. 

It’s reported that Mr Yang was shown two genuine gold bars which were subjected to test and was then asked to deposit 83000 US Dollars and return on the following week to pick up the would-be-ready gold bar consignment. 

“On failure to provide the investor with the agreed gold bars, he then sought for assistance from authorities and a theft report was filed against them alleging he was defrauded of 100000 US Dollars,” Kampala Metropolitan Police wrote on their Facebook timeline. 

Upon search at their premises, suspects were found in illegal possession of G4S Private Security organisation uniforms, 100 kilograms of suspected fake gold, weighing scales and gold testing machines. 

The gold samples are to be taken to the Government Analytical Laboratory for testing and suspects would be charged with theft if found guilty. 

CONTACT DETAILS OF PAUL BRIMA SESAY – + 23288357929 AND + 23275539173 
Paul Brima 
BEWARE OF BOTH THESE GUYS THEY ARE FAKE AND HOW MUCH EVER THEY MIGHT INSIST THAT THEY ARE REAL AND GENUINE NEVER BELIEVE A SINGLE WORD AND NEVER SEND ANY MONEY TO THEM EITHER BY WESTERN UNION OR MONEY GRAM OR ANYOTHER WAY TO THEMMAUREEN WILLS08-Aug-2015 06:21anyone know or have any information regarding ALISON WHEELER. She is supposedly being held by Ghana Customs and Excise as she was trying to smuggle £300,000 worth of gold into UK.She has asked for my help but I feel this is a scam.BRENT17-Mar-2015 12:32hello i would like to know if victor kwame if franco mines a legit seller and if his company franco mines is a duly registered as a gold mining firm. thank you so much your your info will be of great help. GOD BLESS YOU..Guest11-Aug-2014 23:15Why are these numerous scammers allowed to continually cheat people out of their money?Frank Martin07-May-2014 13:24I would like to know if Local Miners Security Company Limited is a legitimate company. And are they scammers?NICKO ALAM08-Apr-2014 00:45Hello All are FakedGREG04-Apr-2014 05:17IS FRANCO MINING AND VICTOR KWAME REAL GOLD SELLER/Guest19-Mar-2014 18:47Rafik Ismail and marina …. They have a company called RM Associates and they are fraud ELYSIUM24-Sep-2013 18:33This people are friend with George BAMBA from Ivory Coast and they SCAM 3.8 millions with the gold from a company in Arlington VA. We have pics of the people working the scam, and the report to INTERPOL. Have a good day,
ELYSIUM. Guest24-May-2013 16:48Hello – who ever Try to deal with a company Sem invest LTD from Ghana ( Just dont )thay are full of shit and they will try to sell you fake Gold verses real one – with storiesGuest

Will investing in gold make you rich

Getting rich, or more wealthy, is a complex subject.

One increases one’s wealth by being in a position to accumulate more assets. For most people, this includes working hard, being successful in a business or in a career, and very often just doing the right thing at the right time.

Like any asset, just having or owning gold does not necessarily mean you are “rich”. A person’s wealth is determined by adding up all the stuff you own, and subtracting what you owe. If you own much more than you owe, you are more wealthy.

Let’s look at another “asset class” – paintings and fine art. You work hard and save your money. Your business does very well. One day, you decide to buy a famous painting, so you go to an art auction and end up paying a million dollars for a Picasso painting. At the auction, the bidding is competitive. Lots of people are bidding on the painting and the price increases rapidly. Lots of people want that painting – Picasso is, at that point, very “desirable”. So people are keen to own a Picasso painting.

Two years later, your business struggles a bit, so you decide to sell the painting – but now, Picasso paintings are not as popular as they were when you bough yours. The “demand” for a Picasso painting has diminished. People are now looking at Salvador Dali. They don’t want Picasso so much anymore – they are all after a Salvador Dali painting.

But you have to sell your Picasso, because you need to realise the cash to help prop up your business. So you put the painting up for sale, and the highest price you get at the auction is $800,000 . This is $200,000 LESS than you paid for it, two years earlier.

So while it is still a “valuable” painting, it’s value (FOR YOU) has decreased because it is no longer as “desirable” as it was before. For you, it has actually decreased in value by about 20%.

So someone buys it for $800,000 …

They keep it for five years, then also decide to sell it again. During this time, Picasso’s work has again become desirable and fashionable. New art collectors are emerging in the Middle East. All of these people would like to own a Picasso, so the “demand” is now very high. The new owner of the painting puts it on auction and the bidding goes well over $5 million. He sells the painting to a wealthy Iraqi collector.

In five years, his initial investment has resulted in a gain of $4.2 million.

You, on the other hand, suffered a loss of $200,000.

If you had kept the painting, and sold it seven years after you bought it, at the same auction that the wealthy Iraqi attended, it would be you making a gain – of about $4 million.

This example shows a couple of important things about an investment. It can INCREASE and DECREASE in value, but not only that, this change in value is relative only to the buyer at the time the asset was bought or sold. Secondly, the longer you can hold onto a good asset, the greater the likelihood its overall value will increase. When Picasso finished that painting, he may have only been able to get a few hundred dollars for it. But now, many, many years later, the value of the painting has increased dramatically. Thirdly, knowing when to BUY and asset and when to SELL it is also a factor in whether you make a profit or a loss. The guy who paid you $800,000 for the painting waited until the demand for a Picasso work was again increasing and decided to sell at a point where a lot of new art collectors were very keen to buy. The timing of his sale was good (for him), while the timing of your sale was (for you) not very good.

Now let’s look at the third buyer of that Picasso – the guy who paid $5 million. Five years after he bought it, he sees that a very similar Picasso was sold for $10 million – so he sees the potential “value” of his painting being much greater. He can be confident that if he sold his painting at that point, he would very likely also get about $10 million for it. But he does not need to sell it, and decides to hold onto it. Three years later, his business takes a bit of a tumble, so he puts his painting up for sale – but in that period, investor interest has decreased. The art collectors are now looking at another artist’s work… Picasso is not as “desirable”.

But he sells his painting anyway, and gets $7 million for it.

A few years earlier, a similar painting was sold for $10 million.

Has he lost money?

The answer is no. He paid $5 million, he got back $7 million, so he has not lost money. All that has happened is that he has not sold his painting at a point in time where its value “peaked”. He may have got more for it had he sold it at this “peak” – but he didn’t. He sold it off its peak, but managed to still make some profit, even though its value was decreasing.

All such assets behave in this way – including gold and other precious metals. Their value can increase or decrease over time. The key is knowing when to sell your asset – even if you pay a high price for something, the key to getting wealthier is knowing when it is a good time to sell it.

But there is much more to this.

Many investors look to putting their money into more solid assets (like paintings and gold) when there is uncertainty and “volatility” in the economy. We have already been through a major global economic crisis and when markets and economies falter like this, people look for more certain ways to PROTECT their wealth. This is called “safe haven” investing. Cash in the bank, property, stocks and shares are a lot more vulnerable to volatility. One day your $10 will buy you a reasonable pair of shoes… a month later, those same shoes are $25. The shoes have not changed in value – your money has.

Now, lets say that instead of buying the shoes for $10, you bought some gold for $10. A month later, when the shoes are now costing $25, the value of your bit of gold has also risen sharply and is also worth $25. If you now cash in your gold, and buy the shoes for $25, you are effectively paying THE SAME amount, as you would have done a month earlier. The guy who did not invest in the “safe haven” of gold, has no means of creating the additional $15 out of something, and has to dig into his own pocket for the extra cash. You have not LOST anything, and not GAINED anything, but the other guy will be $15 worse off.

So in this example, we are showing one of the most interesting aspects of precious metal investing. And that is they tend to RETAIN value. They are a very good store of wealth, and over time, the value of your investment will increase in tandem with the “decrease” in the value of money.

It’s like saying “you will get your money back”. In general, assets like precious metals, when kept for long periods, not only “get your money back”, but tend to increase a little more as well, so you get your money back, plus a little extra.

Market forces move gold lower

Gary Wagner

Gary Wagner Wednesday April 01, 2020 19:41

Kitco Commentaries | Opinions, Ideas and Markets Talk

Featuring views and opinions written by market professionals, not staff journalists.

Commentaries & Views

While we have gold, prices come under substantial pressure over the last two weeks it had still managed to hold above key level of $1600 per ounce. This is in conjunction with U.S. equities markets trading under great pressure as they have lost value throughout this month. According to Reuters, “Wall Street’s three major indexes tumbled on Tuesday, with the Dow registering its biggest quarterly decline since 1987 and the S&P 500 suffering its deepest quarterly drop since the financial crisis on growing evidence of massive economic damage from the coronavirus pandemic.”

Of course, the primary issue remains the social distancing used to battle COVID – 19 (coronavirus). While many medical analysts predict that it will take up to a year or a little bit more to produce an effective method to eradicate the virus. Currently there have been 854,039 reported cases of covid-19, with 42,014 reported deaths, and 176,000 906 individuals who have recovered from the virus. Of the remainder of individuals fighting this illness off 95% are experiencing mild to moderate symptoms with 5% having severe or life-threatening effects.

Due to the fact that by no means has this contagious disease shown signs off slowing its spread, infecting more individuals globally everyday it is unlikely we will see the global economy recover just yet.

Yet oddly enough the flight to gold has either been short lived or yet to be seen.

On a technical basis gold pricing broke through its 50-day moving average in trading today. This average currently is fixed at $1599.80. Today’s lower pricing indicates very strong resistance at that price point. The next level of support would come in at $1580, with resistance at $1640

Gold firm sells Kenya mines for Sh1.4 billion

Toronto-based Barrick holds licences for rights to mine gold over a 1,161 square kilometre area that straddles Kakamega, Kisumu, Siaya and Vihiga counties. 

A gold bearing rock

A gold bearing rock. FILE PHOTO | NMG 


  • Canadian miner Barrick Gold Corporation is selling its seven Western Kenya gold mining licences to Guernsey-incorporated Shanta Gold in a cash-and-stock transaction worth a total of $14.5 million (Sh1.4 billion).
  • Toronto-based Barrick holds licences for rights to mine gold over a 1,161 square kilometre area that straddles Kakamega, Kisumu, Siaya and Vihiga counties. 
  • The area has gold deposits estimated at 1.1 million ounces, with a current market value of Sh186 billion.
  • Barrick will take $7 million (Sh700 million) in cash and a 6.4 percent stake or 54.6 million shares of Shanta valued at $7.5 million (Sh753 million). This will see Barrick become the fifth largest shareholder in Shanta.

Canadian miner Barrick Gold Corporation is selling its seven Western Kenya gold mining licences to Guernsey-incorporated Shanta Gold in a cash-and-stock transaction worth a total of $14.5 million (Sh1.4 billion).

Toronto-based Barrick holds licences for rights to mine gold over a 1,161 square kilometre area that straddles Kakamega, Kisumu, Siaya and Vihiga counties. The area has gold deposits estimated at 1.1 million ounces, with a current market value of Sh186 billion.

Barrick will take $7 million (Sh700 million) in cash and a 6.4 percent stake or 54.6 million shares of Shanta valued at $7.5 million (Sh753 million). This will see Barrick become the fifth largest shareholder in Shanta.

Shanta has also agreed to pay Barrick a two percent royalty rate, based on actual gold production in the future.

“The West Kenya acquisition is significant for Shanta Gold, creating an East African gold mining champion with realisable growth prospects and high asset quality across three attractive gold projects,” Shanta CEO Eric Zurrin said in a statement.

The First Licensed Export Gold Refinery In Kenya

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Being part of Africa’ booming economy, AGR stands to be a platform to improve the livelihoods of the beneficiary community, regional economy and that of Kenya as a whole.

AGR works with one of the largest mining entities in Africa to source the highest grade of gold available in the region. Located within the grounds of of Jomo Kenyatta International Airport (JKIA), our facility offers a secure gateway to refine and export your product worldwide.

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AGR offers smelting, assaying, refining, manufacturing and exporting services to its clients. We offer innovative and tailored services to meet each of our clients’ needs. Whether it is transportation, procurement or export, we will work to offer the best solutions to each individual client under AGR’s one-stop-shop model.

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Enjoy the best Gold prices in Africa with quality assurance

Iteso gold miners limited , is a private registered company under the companies’ act 1985. It deals with all category mineral transactions for mineral; identification, sourcing, extraction, testing, processing, advisory services, exportation and importation. With the company currently focusing on East African Region and selected surrounding mineral rich countries, the company reaches out to reputable mineral agents, operators and dealers in the region. Get in touch with us

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Our Top Selling Products

We are the best and trusted Gold traders and agents in Uganda and Africa at large. We rank among the top Gold sellers/dealers in Africa, with a wide satisfied clients base. Our Products include but not limited to Gold Bars, Gold Nuggets and Gold Dust.

Gold Bars

A gold bar, also called gold bullion or a gold ingot, is a quantity of refined metallic gold of any shape that is made by a bar producer meeting standard conditions of manufacture, labeling, and record keeping. They can be Large or Small and vary in weight.

Gold Dust

Gold dust refers to fine particles of gold produced by machining or occurring naturally.

Unrefined Gold

Gold in it’s raw/original state is naturally unrefined and can take different forms and types of gold deposits.

Gold Nuggets

A gold nugget is a naturally occurring piece of native gold. Watercourses often concentrate nuggets and finer gold in placers. Nuggets are recovered by placer mining, but they are also found in residual deposits where the gold-bearing veins or lodes are weathered. Nuggets are also found in the tailings piles of previous mining operations, especially those left by gold mining dredges.

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