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Central banks are losing fight against gold, Tocqueville's Hathaway tells King
8:15p CT Tuesday, October 25, 2011
Dear Friend of GATA and Gold:
Interviewed today by King World News, Tocqueville Gold Fund manager John Hathaway seems to have come over completely to the gold price manipulation camp. Speaking of the Western central banks and attempts to paper over Europe's debt problem, Hathaway tells King:
"To the extent they were trying to get gold down in advance of whatever this agreement is supposed to be regarding Europe, it has clearly failed. It wasn't very successful and I've got to believe that whatever bureaucrat in the basement of whatever central bank was in charge of that, he's probably been fired. If he wasn't, he's probably not going to be so brave this next time around.
"The central banks are losing to the extent that they are failing to keep the gold price down. You know whoever is fighting this battle is fighting a losing battle. So I just don't think there is going to be much courage left on the central bank side. If this latest London Gold Pool-style manipulation fails and you see more of this disgust with paper currencies, that's where you will get nothing but air to the upside" for gold.
Indeed, as the remainder of the interview makes clear, Hathaway couldn't be more bullish for the metal and for gold mining stocks.
From his lips to the Great Market Manipulator's ear -- and we don't mean Bernanke.
An excerpt from Hathaway's interview is posted at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/10/26_K...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Prophecy Platinum Drills 120.9 Meters
Grading 1.26 g/t PGM+Au at Yukon Wellgreen Project
Company Press Release
Monday, September 26, 2011
VANCOUVER, British Columbia, Canada -- Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) has announced the drill results received from its 2011 drilling Wellgreen platinum group elements, nickel, and copper project in the Yukon Territory.
Borehole WS11-188 encountered 457 meters of mineralization grading 0.47% nickel equivalent (including 0.72 grams per ton platinum, paladium, and gold) from surface to the footwall contact. Within this larger swath of mineralization, the hole encountered a high-grade section of 17.8 meters of 3.14 grams per ton platinum, palladium, and gold, 1.03% nickel, and 0.74% copper (1.77% nickel equivalent).
The hole was drilled completely outside of current resource boundaries, between the East Zone resource and the West Zone resource that was reported in the company's press release no July 14, 2011.
The high-grade intercept located between the two resources not only demonstrates that the East and West Zone resource form a single, geologically contiguous body but also indicates that the higher-grade material in the East Zone continues to the west and at depth at Wellgreen.
For drill result tables and maps, please see the company's full press release here:
http://www.prophecyplat.com/news_2011_sep26_prophecy_platinum_wellgreen_...
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Sona Drills 85.4g Gold/Ton Over 4 Metres at Elizabeth Gold Deposit,
Extending the Mineralization of the Southwest Vein on the Property
Company Press Release, October 27, 2010
VANCOUVER, British Columbia -- Sona Resources Corp. reports on five drillling holes in the third round of assay results from the recently completed drill program at its 100 percent-owned Elizabeth Gold Deposit Property in the Lillooet Mining District of southern British Columbia. Highlights from the diamond drilling include:
-- Hole E10-66 intersected 17.4g gold/ton over 1.54 metres.
-- Hole E10-67 intersected 96.4g gold/ton over 2.5 metres, including one assay interval of 383g of gold/ton over 0.5 metres.
-- Hole E10-69 intersected 85.4g gold/ton over 4.03 metres, including one assay interval of 230g gold/ton over 1 metre.
Four drill holes, E10-66 to E10-69, targeted the southwestern end of the Southwest Vein, and three of the holes have expanded the mineralized zone in that direction. The Southwest Vein gold mineralization has now been intersected over a strike length of 325 metres, with the deepest hole drilled less than 200 metres from surface.
"The assay results from the Southwest Zone quartz vein continue to be extremely positive," says John P. Thompson, Sona's president and CEO. "We are expanding the Southwest Vein, and this high-grade gold mineralization remains wide open down dip and along strike to the southwest."
For the company's full press release, please visit:
http://sonaresources.com/_resources/news/SONA_NR19_2010.pdf
