Precious Metals

NewGold partially delists platinum debentures

Platinum debentures from NewGold Issuer Ltd. have been partially delisted.

Platinum ore image courtesy of World Platinum Investment Council; mining image courtesy of Johnson Matthey.

NewGold Issuer Ltd. has delisted 500,000 NewGold platinum debentures following the redemption of 4,907.528 fine troy ounces of platinum bullion. The delisting leaves 79.4 million NewGold platinum debentures in issue, comprising approximately 779,315.495 fine troy ounces of platinum.

According to, “a debenture is a type of debt instrument that is not secured by physical assets or collateral. Debentures are backed only by the general creditworthiness and reputation of the issuer. Debentures and bonds can both be used to raise capital, but debentures are typically issued to raise short-term capital.”

According to the U.K. arm of independant investment researcher Morningstar, "NewPlat ETF (issued by NewGold Issuer Limited) offers the opportunity to invest in platinum bullion, as it tracks the Rand price of platinum. The debentures are fully backed by physical platinum bullion with each debenture approximately equivalent to 1/100th of a fine troy ounce of platinum bullion, which is held with a secure depository on behalf of investors."

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NewGold Issuer is an exchange traded fund launched by the investment bank Absa Capital, and invests in commodity markets.

The NewGold Exchange Traded Fund was formed on Oct. 27, 2004, and is based in South Africa.

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