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Zero Hedge: Did GLD and other gold ETFs kill gold stocks?
3:37p ET Monday, December 19, 2011
Dear Friend of GATA and Gold:
Zero Hedge's Tyler Durden today published a fascinating commentary concluding that the gold exchange-traded fund GLD and similar ETFs are largely responsible for the devastation of gold mining company shares. But he argues that ETFs have a much more tenuous claim on real metal than mining shares do, and he concludes: "Our advice, as always: Stay away from ETFs. They are nothing short of what synthetic collateralized debt obligations were back during the credit bubble years. And take advantage of relative mispricing between fake (ETF) and real (miner) asset representation." The commentary is headlined "Did GLD and Other Gold ETFs Kill Gold Stocks?" and it's posted at Zero Hedge here:
http://www.zerohedge.com/news/did-gld-and-other-gold-etfs-kill-gold-stocks
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Sonora Aims to Follow First Majestic's Success
With Silver Mining Exploration in Mexico
Sonora Resources (OTCBB: SURE) is a silver mining exploration company focused on the development of prospective opportunities in Mexico. The company president and CEO is Juan Miguel Rios Gutierrez, who helped build First Majestic Silver Corp., which began trading for pennies and today is at more than $16 per share. Gutierrez was the fourth person to join First Majestic Silver, originally as general manager, then manager for new business initiatives and strategic planning. He left First Majestic Silver to work with Sonora Resources and yet maintains strong contacts with First Majestic. In fact, First Majestic is a large shareholder in Sonora and has a joint venture with the company.
For more information about Sonora Resources, please visit:
http://www.SonoraResources.com
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Golden Phoenix Signs Definitive Agreement
to Acquire and Reopen Santa Rosa Gold Mine in Panama
Company Press Release
Monday, September 19, 2011
SPARKS, Nevada -- Golden Phoenix Minerals Inc. (OTC Bulletin Board: GPXM) has signed a definitive agreement to acquire a 60 percent interest, with an option to buy an additional 20 percent interest, in the Santa Rosa gold mine in Panama, now owned by Silver Global S.A., a Panamanian corporation.
Santa Rosa produced more than 100,000 ounces of gold from 1996 to 1998 before being closed in part to low gold prices, which are now more than five times higher.
Golden Phoenix intends to acquire its initial 60 percent interest in Santa Rosa by acquiring 60 percent of the share capital of a recently created company under the name Golden Phoenix Panama S.A., formed to hold and operate the mine.
Tom Klein, CEO of Golden Phoenix says: "The agreement establishes a solid framework from which we can advance Mina Santa Rosa to production-ready status."
For Golden Phoenix's complete statement, please visit:
http://goldenphoenix.us/press-release/golden-phoenix-signs-definitive-ac...
