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GLD trading today at a 2 percent discount to gold
1:40p ET Tuesday, September 6, 2011
Dear Friend of GATA and Gold:
Maybe closer observers can comment on this more authoritatively, but the gold exchange-traded fund GLD, which the other day undertook something of a publicity campaign with CNBC to show that it has the gold it claims to have, only to put blinders on the CNBC reporter, take him to a mysterious vault, and assist him in displaying a gold bar apparently owned by someone else (http://www.gata.org/node/10368), today seems to be trading at a huge discount to real metal. That is, at 1:30 p.m. ET, gold was quoted at $1,872 but GLD, whose shares are meant to track the price of a tenth of an ounce of gold, was trading at about $183, or nearly $4 or about 2 percent less than ordinarily would be expected. Has the publicity campaign failed? Are questions about the exchange-traded fund and its custodian, the major gold short HSBC, gaining some respect?
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Prophecy Platinum Drills 49.5 Meters Grading 1.27 g/t PGM+Au at Yukon Wellgreen Project
Company Press Release
August 22, 2011
Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) announces results from its 2011 drilling program for its first completed hole on the Wellgreen Project in the Yukon Territory, Canada.
Borehole WS11-184 encountered 472.6 meters of mineralization grading 0.43% nickel equivalent from surface to the footwall contact. Within this larger swath of mineralization the hole encountered 49.5 meters of 1.27 grams per ton platinum group metals plus gold, 0.71% nickel, and 0.45% copper (or 1.11% nickel equivalent).
The geology transitioned from blebby disseminated to net-textured to massive sulphide approaching the footwall contact grading 6.3% nickel, 1.7% copper, 2.7 grams per ton platinum, 1.6 grams per ton palladium, 0.17 grams per ton gold, and 3.4 grams per ton silver. The drilling zones and results are tabulated here, with more information:
http://www.prophecyplat.com/news_2011_aug22_prophecy_platinum_wellgreen_...
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Toronto Resource Investment Conference
Thursday-Friday, September 15-16, 2011
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Thursday-Friday, October 20-21, 2011
Davenport Hotel, Spokane, Washington
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Wednesday-Saturday, October 26-29, 2011
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Golden Phoenix to Present at Investment Conference at Waldorf
Company Press Release
Thursday, September 1, 2011
The chief executive officer and the communications director of Golden Phoenix Minerals Inc. (OTC Bulletin Board: GPXM) will speak at the Rodman & Renshaw Global Investment Conference at the Waldorf Astoria Hotel in New York City on Tuesday, September 13.
The CEO, Thomas Klein, and the communications director, Robert Ian, will address the conference from 2:50 to 3:15 p.m. at the hotel. The conference's keynote speakers include former Vice Presidents Dick Cheney and Al Gore and former Secretary of State Henry Kissinger.
"At this conference Golden Phoenix will introduce its royalty mining growth strategy to a global investment audience," Klein says. "With rising gold prices, industry consolidation, and central banks becoming net buyers of gold, we believe that the investment demand for emerging and diversified gold producers like Golden Phoenix offers the potential for significant growth."
Golden Phoenix is a U.S. mining company with international exposure to gold, silver, and strategic metals. The company's business model combines project generation and royalty mining that offer the potential for exploration upside with the backing of production and future royalty streams.
For information about the conference, including last-minute room and schedule changes, please visit:
http://www.rodmanandrenshaw.com/conferences?id=164
For the complete press release, please visit:
http://goldenphoenix.us/press-release/golden-phoenix-to-speak-at-rodman-...
