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Provident Metals Dealer Rating

Discussion in 'PM Dealer Feedback' started by Scorpio, Mar 31, 2010.



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How do you rate this dealer?

  1. * One Star

    4 vote(s)
    2.3%
  2. ** Two Star

    9 vote(s)
    5.1%
  3. *** Three Star

    10 vote(s)
    5.6%
  4. **** Four Star

    32 vote(s)
    18.1%
  5. ***** Five Star

    122 vote(s)
    68.9%
  1. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    http://about.ag/Elemetal/

    Elemetal Refining: Now More Insolvent.

    October 18, 2017 4:30PM EST
    In April, 2017, Elemetal Refining announced that it was insolvent (using different words, of course). They said that they would make 5 payments of 20% each to the refining customers, on April 28, June 15, August 15, October 16, and December 15. I had mixed reports on whether or not the June payment had been made, but the June/August payments appear to have been mostly made. In total, "approximately" 60% has been paid down.
    Elemetal recently told refining customers that they are "pleased to report that paydowns will continue, though at a reduced pace." I wonder who is pleased by a company reporting that they are having further financial difficulties? One customer reported receiving only a small fraction of what they were owed for the October payment. Elemetal further says that they are developing an updated payment plan, in which they hope to make additional payments within 20-30 days, and have a goal of paying customers in full.
     
    gringott and Cigarlover like this.
  2. 97guns

    97guns Gold Member Gold Chaser

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    yikes, I have a 690oz sell order sitting on their desk since Monday and am waiting for payment, it’s usually been the next day after they receive the goods, keeping my fingers crossed and looking for another dealer to sell to, tried calling and calls to the buying dept. go right to voicemail
     
  3. Usury

    Usury Gold Chaser Platinum Bling

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    I thought they spun off from Elemental and had private ownership now?
     
    gringott likes this.
  4. 97guns

    97guns Gold Member Gold Chaser

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    finally got through to them, they had an issue with one of the items and had to down grade the quality because of milk spots, i think this will be my last sell order to them, not worth the risk with their insolvency issues


    Thank you for posting this
     
    southfork likes this.
  5. goldielox1

    goldielox1 Silver Miner Seeker

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    The refinery is separate from the dealer. At least that seems to be the belief. Haven't heard of any problems from the dealer side just the refinery side.
     
  6. goldielox1

    goldielox1 Silver Miner Seeker

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    Found it interesting that Provident Refining was purchased by investors that will use Dillon Gage to manage it. Dillon Gage's CEO is the former Provident Refining CEO. LOL. So basically it's all just a shell game and will be business as usual (except hopefully without the 3rd world environmental violations).
     
    Usury likes this.
  7. 97guns

    97guns Gold Member Gold Chaser

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    Maybe so, I have signature required packages sent and USPS marks it as received by NTR but as far as I’m concerned with their insolvency issues, they are all 1 company
     

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