India's top gold import bank suspends some bullion dealer accounts

Section:

By Rajendra Jadhav and Devidutta Tripathy
Reuters
Monday, December 12, 2016

MUMBAI, India -- Axis Bank Ltd., India's top importer of gold, has suspended the bank accounts of some bullion dealers and jewellers after two of its executives at a branch were arrested over alleged money laundering.

The move is likely to curtail imports by the world's second-biggest gold consumer this month and could weigh on global prices already near their lowest level in 10 months.

"We have temporarily suspended transactions in a few current accounts as a part of a larger enhanced due diligence exercise being conducted on transactions post-demonetization," the bank said in an e-mailed reply to questions from Reuters.

Prime Minister Narendra Modi scrapped 500-rupee and 1,000-rupee banknotes on Nov. 8 in a bid to flush out cash earned through illegal activities, or earned legally but never disclosed to tax authorities.

There have also been reports of people rushing to buy gold by paying as much as a 50 percent premium above official prices using their unaccounted money to skirt the note ban. ...

... For the remainder of the report:

http://www.reuters.com/article/india-gold-axis-bank-idUSL4N1E43L0



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Golden Predator Finds New Veins of up to 30.8 g/t Gold;
Airborne Geophysics Completed at 3 Aces Project in Yukon

Company Announcement
Monday, November 21, 2016

VANCOUVER, British Columbia, Canada -- Golden Predator Mining Corp. (TSX.V:GPY, OTCQX:NTGSF) is pleased to announce additional surface exploration results and the results of airborne geophysical surveys from ongoing work at the 3 Aces project in southeastern Yukon, Canada. Highlights include:

-- Seven of Spades: Newly discovered zone with stacked flat lying quartz veins returning values up to 18.55 g/t gold.

-- Queen of Spades: Newly discovered zone with values up to 30.8 g/t gold.

-- Jack of Spades: Additional results from continuous panel sampling of a second higher bench returned 20 meters of 7.62 g/t gold including 11.7 g/t gold over 12.4 meters and 37.9 g/t gold over 1.7 meters.

-- Three of Spades: Additional assays have increased strike length of vein with returns including 6.95 g/t gold. ...

... For the remainder of the announcement:

http://goldenpredator.com/_resources/news/nr_2016_11_21.pdf



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