GATA's clamor reaches an ever-wider circle of the gold universe
2:07a ET Wednesday, November 7, 2012
Dear Friend of GATA and Gold:
Looks like GATA's clamor is reaching an ever-wider circle of the gold universe.
In his weekly commentary for the Rand Refinery in South Africa, David Levenstein expresses detailed skepticism about central bank gold reserves and cites all the recent developments publicized by GATA. Levenstein writes that "there seems to be growing evidence that the gold reserves of central banks have been pledged repeatedly through negotiable title deeds. If this is indeed the case, then as the current fiat monetary system falters and as more and more banks scramble to get their hands on their gold, when they discover that they no longer have any gold they will be forced to purchase gold, sending prices much higher." Levenstein's commentary is posted at the Rand Refinery's Internet site here:
And in commentary posted at GoldSeek, Euro-Pacific Capital's John Browne cites some of the same developments. Browne writes: "From 1999 to 2009 central banks drafted and executed three central bank gold agreements that have the stated intention of coordinating the sale of gold on a global basis. Many private investors see these agreements as simply an attempt to 'demonetize' gold by creating strategic price volatility, and thereby investment uncertainty. The massive trading required to achieve these desired price movements must have resulted in relative changes to central bank holdings. But as banks do not reveal the owners of their gold deposits, the data is unavailable to prove this." Browne's commentary is headlined "Report Raises Questions About Central Bank Gold Holdings" and it's posted here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
GoldMoney adds Toronto vaulting option
In addition to its precious metals storage facilities in Hong Kong, Switzerland, and the United Kingdom, GoldMoney customers now can store their gold and silver in a high-security vault operated by Brink's in Toronto, Ontario, Canada.
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Prophecy Platinum Intercepts Best Pt+Pd+Au Grades Yet
at Wellgreen Project in Yukon Territory: 5.36 g/t
Company Press Release
Tuesday, September 11, 2012
VANCOUVER, British Columbia -- Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) announces more results of its 2012 drill program on the company's fully-owned Wellgreen platinum group metals, nickel, and copper project in southwestern Yukon Territory, Canada. Four surface holes and four underground holes all intercepted significant mineralized widths, ranging from 28.5 meters (WS12-201) and up to 459.5 metres (WS12-193). Highlights include WU12-540, which returned 8.9 metres of 5.36 grams per tonne platinum, palladium, and gold; 1.73 percent copper; and 1.01 percent nickel within 304.5 meters of 0.66 g/t platinum-palladium-gold, 0.20 percent copper, and 0.27 percent nickel.
The surface drill program started in June and has completed 16 holes (assays pending for 12 holes) with two rigs now on site. The surface program continues to progress at a steady pace.
Prophecy Chairman John Lee commented: “Wellgreen is a very large nickel, copper, and platinum group metals project with near-surface high-grade zones. High-grade intercepts will be incorporated into resource modeling and mine planning in the pre-feasibility study. We expect further positive drill results from Wellgreen shortly.”
Wellgreen features a low 2.59-to-1 strip ratio, is situated at an altitude of 1,300 meters, and is only 15 kilometers from the two-lane paved Alaska Highway. Those factors significantly minimize the project's indirect costs.
For the complete company statement with full tabulation of the drilling results, please visit: