Here are some answers to Frequently Asked Questions about IMC’s catalyst processing procedures:
What is the sampling process at Integrity Metals Company?
Step 1) After recording the Gross, Tare and Net incoming weights for your shipment, 100% of your material is passed through our automated conveyor system designed especially for grinding and sampling auto-catalyst materials. This machinery breaks up the ceramic catalyst bricks and chunks into a uniform particle size ideal for sampling. The amount of dust generated during the grinding and processing is carefully limited and controlled as much as possible. Any dust that may be generated is collected and added back into the catalyst stream before the samples are drawn.
Step 2) As the catalyst moves along the conveyor, it passes through an inspection and separation station. It then passes through magnetic screening equipment. These steps ensure the removal of any worthless contaminating materials that might be in the process stream, such as scraps of steel from the cutting operation, or insulation and packing materials from inside the converters.
Step 3) The conveyor feeds the clean, contamination-free catalyst through a splitter, which continually draws representative samples from the material stream as it passes through the conveyor system.
Step 4) The samples that were drawn from the process stream are ground to a fine powder and screened. The sample material is ground fine enough to ensure that 100% of the sample material will pass through a 100- mesh screen.
Step 5) The finely ground 100 mesh powdered sample is placed into a laboratory blender and fully mixed to ensure all the sample material is totally homogenous.
Step 6) The blended sample material is then passed through a rotary splitter, which produces several identical samples ready for Lab analysis. One sample is kept for IMC’s use, one sample is produced for the Customer’s use, and a third sample is sealed and held in reserve as an "Umpire Sample", if needed.
Step 7) The samples are sent to our Lab for Pt, Pd and Rh analysis. Our assay results are usually ready within 2 to 3 weeks. Final settlement and payment in full is available upon completion and acceptance of our assay results.
Can we mix domestic and foreign materials?
Yes. If you want, all honeycomb materials, or all bead materials can be mixed.
However, to benefit your own internal records and controls we recommend that you keep higher grade and lower grade materials separate. We suggest this so that you can make a fair judgement about our results in order to compare our payment values on a “apples to apples” basis with your previous results. If you mix the material, how can you compare our results to another company's if the "mix", of high grade to low grade is not EXACTLY the same? That would be like comparing “apples to oranges”.
If we ship 1500 lb. foreign and 501 lb. domestic, does it count as one 2001 lb. lot, or two lots?
One lot, if you want us to combine the material into one sample. Two lots, if you want to have them sampled separately. We have a 2,000 pound minimum lot size. If you want us to sample smaller lots, we will apply an additional small lot fee for each lot that is under 2,000 pounds in sampled weight. Lots that weigh 2,000 pounds or more will have NO additional charges applied.
Our de-canning equipment removes the monolith from the converter as a whole brick. Do we need to crush the catalyst first, or can we ship the whole pieces?
Ship all the ceramic materials, whether they are whole bricks, chunks, or small pieces. Also include all the dust you can collect that was generated while removing the catalyst from inside the converters. You do not need to do any crushing. Our equipment does that automatically during the sampling process.
Where can we find the 3 month future price (web site), and how are the payment prices calculated?
For a site that will show you the spot PGM markets that are used as a basis to calculate the final payment prices we will apply to your lot, go to: www.thebulliondesk.com. Your payment prices will be locked in on the day we receive the material, based on the spot Pt, Pd and Rh market prices in effect as shown on BullionDesk, less the current lease rates for 90 days.
For example, if the spot Platinum price is “$1000.00” and the current annual lease rate for Platinum is “8%”, your actual net payment price is calculated as follows:
Annual lease rate of 8% times 25% (90 days, or 3 months is 25% of 1 year) = 2% lease rate for 3 months.
Pt price of “$1000”, less the 2% lease rate cost ($1000 x 2% = $20), equals net payment price of “$980.00”.
The same calculation is done for the Pd and Rh prices. If the annual lease rates should drop below 8%, there will be a minimum 90 day lease rate deduction of 2% applied for each metal.
“When You Do Business With Us, You Have A Deal With Integrity”
Integrity Metals Company, Inc. 1 Drum Court Howell, N.J. 07731 USA Ph: 1 516 458 6307 Email: Info@IntegrityMetalsCompany.com