You are here
Frank Giustra: How Shanghai stole the gold crown, beating paper with physical
By Frank Giustra
Kitco.com, Montreal
Tuesday, January 20, 2026
For decades, the world's gold trade revolved around two cities: London and New York. They were the twin pillars of postwar finance—one steeped in Savile Row tradition and quiet deals, the other all skyscrapers, caffeine, and Wall Street adrenaline.
... Dispatch continues below ...
... ADVERTISEMENT ...
Power Metallic Reports Lion Zone Recoveries of 98.9% Copper,
93.9% Palladium, 96.8% Platinum, 85% Gold, and 88.9% Silver
Company Announcement
via Pro.CEO.CA
Monday, January 19, 2026
TORONTO -- Power Metallic Mines Inc. (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV) provides preliminary metallurgical results performed by SGS Canada Ltd1 at its laboratories based in Quebec City, Quebec, and Lakefield, Ontario, from representative samples of Lion Zone mineralization.
An initial Lock Cycle Test returned a sulphide concentrate grading 25.8% copper containing very high metal recoveries of copper (98.9%), palladium (93.9%), platinum (96.8%), gold (85.0%), and silver (88.9%), exceeding Power Metallic's most optimistic estimates for recovery prior to this test work.
As previously reported, the copper mineralization at Lion is contained within coarse grained chalcopyrite and cubanite and copper was expected to respond well to conventional sulphide concentration methods. These initial metallurgical tests were designed to determine the recovery potential of the platinum group metals, gold, silver, and nickel. ...
... For the remainder of the announcement:
https://pro.ceo.ca/@newswire/power-metallic-reports-lion-zone-recoveries-of-989
That's exactly why, in my 20s, I packed up and moved to London to open an office for Yorkton Securities, a small Canadian brokerage that financed junior mining deals. Back then London and New York were where the action was. ...
... For the remainder of the commentary:
* * *
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:
Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
