U.S. Mint cuts gold and silver coin production for a year or more, blames virus

Section:

U.S. Mint Has Reduced Silver, Gold Coin Supplies to Purchasers

By Justina Vasquez and Yvonne Yue Li
Bloomberg News
Monday, July 27, 2020

The U.S. Mint has reduced the volume of gold and silver coins it is distributing to authorized purchasers as the coronavirus pandemic slows production, a document seen by Bloomberg shows.

The Mint's West Point complex in New York is taking measures to prevent the virus from spreading among its employees, and that will probably slow coin production there for the next 12 to 18 months, the document shows.

... Dispatch continues below ...


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Asante Gold Announces Kubi 3D Model
Extends Gold Mineralizing System

Company Announcement via Globe Newswire
Thursday, July 2, 2020

VANCOUVER, British Columbia, Canada -- Asante Gold Corp. (CSE:ASE / Frankfurt:1A9 / U.S.OTC: ASGOF) has received the results of 3D magnetic modeling completed over its Kubi mining lease in the Ashanti Gold Belt in Ghana.

The results show that the Kubi Main Zone gold resource is intimately associated with and interfingers the western sheared contact of a magnetic high feature that plunges to more than 2 kilometers in depth. Here is the 3D model video:

http://www.asantegold.com/assets/Video/SEMSpitMagSmthCore.mp4

In Ghana, Africa's largest gold producer, many big mines are located along northeast-trending regional shear systems that exceed 250 kilometers in length. Studies indicate that the hydrothermal gold mineralizing system that generated the Ashanti Gold Belt deposits was "gigantic and extended to at least 10 to 15 kilometers in depth" (Schmidt Mumm et al., 1996). The Ashanti shear zone hosts the largest single gold resource in Ghana, the 66-million-ounce Obuasi mine. This major shear zone cuts Kubi 15 kilometers southwest of Obuasi. ...

... For the remainder of the announcement:

https://www.globenewswire.com/news-release/2020/07/02/2056982/0/en/Asant...


The facility is no longer able to produce gold and silver coins at the same time, forcing it to choose one metal over the other, according to the document, which was presented last week to companies authorized to buy coins from the Mint.

A spokesman for the Mint didn't immediately have comment.

"The pandemic created a whole new set of challenges for us to manage," the Mint said in the document. "We believe that this environment is going to continue to lead to some degree of reduced capacity as West Point struggles to balance employee safety against market demand." ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2020-07-28/u-s-mint-has-reduced-...

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http://www.gata.org/files/GATA-4-wine-bottles.jpg

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-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.

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