You are here
Russia to boost silver reserves in major precious metals strategy shift
From the Jerusalem Post
Friday, October 4, 2024
Russia may be poised to make a notable shift in its precious metals strategy, with silver potentially emerging as a key asset in the country's expanding State Fund.
According to a report released by Interfax this week and cited by Bloomberg News, Russia's draft federal budget outlines plans to significantly bolster its holdings in precious metals over the coming years. Notably, the budget includes plans to acquire gold, platinum, palladium, and, for the first time, silver.
... Dispatch continues below ...
... ADVERTISEMENT ...
Power Nickel Announces Assay Results from its Polymetallic Lion Zone Discovery
Company Announcement
Tuesday, October 1, 2024
TORONTO -- Power Nickel Inc. (TSXV: PNPN, OTCBB: PNPNF) announces the assay results obtained for the first five holes of the summer 2024 drilling campaign at its polymetallic Lion Zone discovery.
"We announced that our summer exploration program had expanded the Lion Zone by 50% and today we provide the first assays from the program," CEO Terry Lynch said. "The results were obtained from targets we now realize were outside the main Lion Zone in what we refer to as the Halo area. Holes 63, 66, and 67 still delivered great value to the project. Five meters of 5.93% copper equivalent are excellent in Hole 63 and 66-67 both showed a very sizeable section of 12 meters of 2.97% and 2.36% copper equivalent respectively.
"After this set of holes we retargeted the drills at a lower pitch further west and once again found the main Lion Zone. Assays on these holes are pending." ...
... For the remainder of the announcement:
The inclusion of silver in the State Fund's acquisition strategy marks a departure from recent trends.
While central banks around the globe, particularly Russia, have set records in gold purchases following international sanctions, silver has largely remained off their radar. This latest development suggests that silver's role in Russia's financial strategy may be evolving. ...
... For the remainder of the report:
https://www.jpost.com/business-and-innovation/precious-metals/article-823167
* * *
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, November 20-23, 2024
https://neworleansconference.com/powellgata/
* * *
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:
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
