James Turk comments on progress in Blanchard lawsuit

Section:

2:21p ET Tuesday, November 4, 2003

Dear Friend of GATA and Gold:

Blanchard & Co., the New Orleans-based coin and
bullion dealer, announced today that the effort by
Barrick Gold and J.P. Morgan Chase to delay the
search for evidence in Blanchard's gold price-fixing
lawsuit has failed and that the lawsuit now will
move into what is called the discovery phase.

GATA has long believed that if such a lawsuit could
only reach discovery and if the bullion banks and
the big shorts in gold, Barrick foremost among them,
could only be compelled to answer questions about
their activity in the gold market, the collusion
against gold would be exposed no matter how the
lawsuit was decided.

So Blanchard's reaching the discovery phase is a
huge victory for the gold cause, for which everyone
in the gold community and everyone who supports
free markets should be profoundly grateful.

Blanchard's announcement today is appended.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

Blanchard & Co. Lawsuit Versus
Barrick Gold and Morgan Chase
to Move Into Discovery Phase

http://biz.yahoo.com/prnews/031104/datu035_1.html

NEW ORLEANS, Nov. 4, 2003 -- Blanchard and Co. Inc.
received word today from the U.S. District Court for the
Eastern District of Louisiana that its case against Barrick
Gold Corp. and J.P. Morgan Chase & Co. once again may
continue into the discovery phase of the lawsuit.

The court denied the defendants' motions for reconsideration
of Judge Helen Berrigan's Sept. 3rd ruling. Blanchard's
complaint that Barrick and Morgan have violated U.S.
antitrust laws by unlawfully combining to manipulate the
price of gold and to monopolize the market in gold was
brought in December 2002.

In denying defendants' motions, the court stated that
"motions made pursuant to Rules 59(e) and 60(b) ... are
not intended to relitigate issues properly before the court
when it issued the challenged ruling, or raise new facts
or arguments that were not then before the court. ... This
is what defendants have attempted to do here. While the
defendants are understandably dissatisfied with a ruling
not in their favor, this is neither the time nor method to
raise these issues again."

Blanchard's CEO, Donald W. Doyle Jr., said, "Barrick
and Morgan appear to have lost the chance to delay the
discovery phase of the case any further." Having already
served J.P. Morgan and Barrick with its requests for
production, Blanchard expects to move into the discovery
process immediately.

MEDIA CONTACT:
Neal R. Ryan
Blanchard and Company, Inc.
1-800-880-4653
nrryan@blanchardgold.com

http://www.savegold.com

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