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Hold on, London bullion banks -- here comes a lot of Tanzanian gold for hypothecation from your friends at Barrick
$280 million X 100 = $280 billion.
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Barrick to Sell Gold Worth Up to $280 Million as Export Ban Is Lifted
By Zandi Shabalala
Reuters
Monday, January 27, 2020
LONDON -- Barrick Gold will start to ship gold worth up to $280 million from Tanzania, chief executive Mark Bristow said today, after the government lifted an export ban following the resolution of a three-year tax dispute.
The world's second-largest gold miner signed a deal on Friday with Tanzania's government, ending a row that dated back to when Acacia Mining ran the Tanzanian operations.
... Dispatch continues below ...
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Barrick fully acquired Acacia last year.
"The shipments will start immediately and, as we speak, we are mobilising the concentrates," Mark Bristow told Reuters in a telephone interview. "It's (worth) around $260-$280 million depending on the price of metal prices at the time of sale." ...
... For the remainder of the report:
https://www.reuters.com/article/us-barrick-gold-tanzania/barrick-to-sell...
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Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
http://www.gata.org/files/GATA-4-wine-bottles.jpg
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http://www.gata.org/files/FayJWineryVarietals.jpg
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Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
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Join GATA here:
Mining Investment Asia
InterContinental Hotel, Singapore
Tuesday-Thursday, March 17-19, 2020
https://www.mininginvestmentasia.com/
Mines and Money Asia
Conrad Hotel, Hong Kong
Tuesday-Wednesday, March 31-April 1, 2020
https://asia.minesandmoney.com/
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