Amex Exploration Inc.

Gold Supply Chain

Gold is both a material and a monetary holding. Follow its physical path from exploration, ore, grinding and leaching through doré, refining, bars, jewelry, electronics, recycling, custody, and mine closure. Nearly all historical gold may still exist in some form, but that does not make every gram identifiable, accessible, saleable, or suitable for a particular use. New mining, recycled supply, and released holdings answer different questions.