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Peter Grandich doubles his gold price challenge to Kitco's Jon Nadler
2:23p ET Friday, December 30, 2011
Dear Friend of GATA and Gold:
Market analyst and mining company consultant Peter Grandich today doubles his challenge to Kitco.com's gold market analyst, Jon Nadler -- $2 million, to be donated to charity, betting that gold will reach $2,100 (the price in Grandich's previous challenge was only $2,000) before it ever sinks to $1,000. Grandich is incensed by Nadler's misrepresentation this week of the previous challenge, which Nadler incorrectly said involved a downside target price for gold of $1,500. Grandich's commentary is headlined "I Now Have 2 Million Reasons to Be Bullish on Gold" and it's posted at his Internet site here:
http://www.grandich.com/2011/12/i-now-have-2-million-reasons-to-be-bulli...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Golden Phoenix Completes Operating Agreement
for Santa Rosa Gold Mine in Panama
Golden Phoenix Minerals Inc. (GPXM) has entered a joint venture operating agreement with Silver Global S.A., a Panamanian corporation, governing the operational and management aspects of their new joint venture company, Golden Phoenix Panama S.A., a Panamanian corporation formed to hold and operate the Santa Rosa gold mine in Canazas, Panama, and explore the mine's adjacent property.
Golden Phoenix will be manager of the joint venture company. Silver Global will handle all social programs, political and community relations, and human resource matters for the joint venture company in Panama. Golden Phoenix and Silver Global also have agreed to work together on all future acquisitions within Panama and to bring such new opportunities to the joint venture company.
Golden Phoenix will be earning in to a 60 percent interest (and potentially an 80 percent interest) in the Santa Rosa mine. Upon signing the joint venture agreement and completing the corresponding acquisition payment, Golden Phoenix will earn an initial 15 percent interest in the joint venture company.
Tom Klein, CEO of Golden Phoenix, says the agreement "creates a solid foundation for the development and planned re-opening of Mina Santa Rosa."
For Golden Phoenix's full statement on the joint venture operating agreement, please visit:
http://goldenphoenix.us/press-release/golden-phoenix-completes-joint-ven...
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Vancouver Resource Investment Conference
Sunday-Monday, January 22-23, 2012
Vancouver Convention Centre West
Vancouver, British Columbia, Canada
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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
