The following excerpt is from a news release issued by A-Mark Precious
A-Mark Precious Metals, Inc.(NASDAQ:AMRK), a full-service precious metals trading
company and an official distributor for all the major sovereign mints,
has acquired a majority ownership stake in Indiana-based SilverTowne Mint and entered into an exclusive
supplier agreement with Asahi Refining USA Inc. a subsidiary of Asahi
Holdings (TSE: 5857), a global refiner and producer of precious metals.
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Founded in 1973 in Indiana, SilverTowne Mint is a leading producer of
fabricated silver products. Over the last 12 months, the company has
produced approximately 12.5 million ounces of silver, and has the
capacity to produce up to 20.0 million ounces annually.
Under the terms of the agreement, Asahi Holdings, which refines in
excess of 75 million ounces of silver annually, will act as the
exclusive supplier of LBMA-approved silver feedstock to SilverTowne
Mint. The arrangement will provide SilverTowne Mint with a consistent
supply of silver feedstock, enabling the mint to produce significantly
more fabricated bullion annually, which A-Mark will then distribute
exclusively throughout Asia, Europe and North America.
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