A. GLOSSARY FOR ASAP VASA WEBSITE.
A
Ag:
Chemical Symbol for Silver
Alloy:
A partial or complete solid combination of two or more metallic elements.
Alluvial:
Gold existing within stream sediments (sand, silt, clay, gravel).
Assay:
The process of determining the purity of gold and silver
Au:
Chemical Symbol for Gold
B
Bullion:
Gold or silver in made out into a bar or ingot
Base Price:
The local Ghanaian offer price of gold based on a pound (7.75g) of gold of
23kt.
C
Cast Gold bars:
Bars cast by pouring molten gold into a mould.
D
Dore bars:
Unrefined gold bars
Drill sample:
A small piece taken from a metal bar by means of drilling for the purpose of
analysis.
F
Fineness:
The pure precious metal content of an alloy expressed as parts per
thousand.
Fire assay:
A chemical fusion method for separating, concentrating, and measuring the
content of Gold and Silver.
Fool’s Gold:
The mineral pyrite which by virtue of its yellow metallic hue looks like real
gold.
E
Electrolytic refining:
A method primarily used to refine metals through electrolysis
G
Gold granules:
Gold grains made by pouring molten gold into a current of water.
Good Delivery:
A standard that must satisfy to be acceptable for delivery in a particular
market e.g. London Good Delivery and Comex Division Good Delivery.
Gold Plating:
The process of coating the surface of a substance with a layer(s) of gold by
electrolytic means.
H
Hallmark:
A stamp placed on gold or silver bar or artefact stating the quality of the
fineness indicated.
I
Ingot:
A metal in this case gold cast into a particular shape.
K
Karat:
A measure of purity of gold in an alloy expressed on the basis of 24 karat
being pure gold.
Kilo Bar:
A bar weighing one kilogram (32.1507 troy ounces)
L
London Fix:
Reference to the 1st and 2nd Fixing of Gold prices by the five members of
London Gold Market Fixing Ltd. and posted at 10:30 am and 3:00pm each
day.
M
Market Value:
The price at which a coin or bullion item trades.
Metric Ton:
A metric ton refers to 1000 kilograms or 1,000,000 grams
N
Nugget:
A piece of gold obtained from a mining and extraction
O
Ounce:
An ounce is a unit of measure of gold and refers to 31.1035 grams by mass
of gold.
P
Pound:
Local Ghanaian gold buying unit of measure equivalent of 7.75 grams
S
Smelting:
The conversion of gold dust or balls into dore bars by the use of heat.
Specific gravity:
The density of a material relative the density of water
Spot Price:
The price of gold that is quoted and used for immediate settlement
T
Troy Ounce:
The Unit of measure equal to 31.1034768 grams of gold.