Dear Klop,
Please find below a summary of the latest Verification and updated Due Diligence dated 11 June 2026, relating to Gold Trade 11 of 2026 of our physical gold trading fortnightly programme.
Key points:
- Verified trading balance: €547,805,000
- Independent trades completed since 2020: 142
- Distribution record: Six-year track record of consistent, on-time monthly distributions.
- 90 day Liquidity
Important update:
Astrea FZCO alongside Black Castle Capital Partners, continues to scale its strategy through disciplined compounding and ongoing capital inflows. The programme now operates at a verified trading balance in excess of €547,805,000 with approximately half of founder capital remaining invested alongside a growing client base of investors receiving regular monthly distributions.
As part of ongoing alignment with the institutional programme, the return profile is as follows:
- Monthly income: 1.5% per month (18% p.a.) for 12 Months.
- Deferred/growth: 20% p.a.
From an operational standpoint, despite ongoing geopolitical tensions and recent disruption across parts of the Gulf region, the programme remains fully operational. Astrea maintains multi-jurisdictional refinery access and flexible logistics routing, enabling execution across accredited refineries globally as required. This removes reliance on any single corridor and ensures continuity of trade flow.
The underlying strategy remains unchanged: capital is deployed into short-duration, pre-contracted physical gold trades, with returns derived from fixed contractual spreads and margin rather than commodity price exposure.
More broadly, we continue to see institutional capital allocating toward short-duration, asset-backed trade finance strategies, particularly where returns are driven by contracted spreads rather than market direction. Within commodities, and gold specifically, this reflects a structural financing requirement across the physical supply chain, supported by real asset flows.
The programme has been operating for more than six years with a clean track record, underpinned by full logistic insurance, independent verification, and robust end-to-end trade controls.
We also have a comprehensive Investor Hub, which contains full due diligence materials, including verification letters, extensive trade documentation, and supporting operational data.
If you would like to discuss increasing your current investment allocation, or wish to review the trading opportunity in more detail, please feel free to contact me or a member of the investor relations team.
We are also pleased to include a link to our latest successful webinar that we ran on the 14th of last month. Many of you were present, but for those who weren't able to attend, you can still watch and see the team explain how our physical Gold trading strategy works. You can view the video here.
I look forward to hearing from you.
Kind regards
Richard
Richard Diaz
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Chief Executive Officer |
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E: r.diaz@blackcastlecapital.co.uk | www.blackcastlecapital.co.uk |
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Black Castle Capital Partners Limited. Registered in England and Wales with Company Number 10635644. Registered Office: 48 Charles Street, Mayfair, London W1J 5EN.
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