PMX Communities Inc. (fka PMXO)

[eik]

That 2011 announcement was followed by less optimistic one in 2012:

Plunging demand shuts down China's Gold ATM

China also stopped plans to install an unspecified number of machines in secure locations such as gold shops and upmarket private clubs.

BEIJING(BullionStreet): Plunging gold demand in China forced country's first gold vending machine to stop working, less than a year after it's grand unveiling.

Beijing Agricultural Commercial Bank,which launched the machine said it wasn't being used for the last few weeks as customers have lost their appetite for gold.

Analysts said the cost of a single withdrawal is the main reason as each withdrawal is capped at 2.5 kilograms or one million yuan (about $160,000) worth of gold.

Shoppers in the popular Wangfujing Street shopping district in Beijing used to insert cash or use a bank card to withdraw gold bars or coins of various weights based on market prices.

China also stopped plans to install an unspecified number of machines in secure locations such as gold shops and upmarket private clubs.

Chinese authorities earlier planned more Gold ATM's across major cities as it prove popular among Chinese consumers looking for a convenient way to safeguard their cash amid rising prices.

Gold vending machines already exist in Britain, the United States, the Middle East and Europe.

The World Gold Council last week said China's demand for gold dipped 7 per cent in the second quarter of 2012.

Top consumer, India's demand for gold jewelry dropped 30 per cent this year,WGC added.
http://www.bullionstreet.com/news/plunging-demand-shuts-down-chinas-gold-atm/2667