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Jason Hamlin: Another manufactured selloff in gold and silver?
8:10p ET Friday, April 16, 2010
Dear Friend of GATA and Gold (and Silver):
Gold Stock Bull newsletter proprietor Jason Hamlin asks tonight: When did fraud by Goldman Sachs become news? Hamlin doesn't buy suggestions that the supposed involvement of gold-heavy Paulson & Co. in the latest allegation of fraud at Goldman Sachs had something to do with today's smashing of the precious metals. Rather, Hamlin writes, today was options-expiration Friday, "when the investment banks have a vested interest in making sure the call options they sold expire absolutely worthless. Given this context, one might be inclined to view today’s action as more than mere coincidence." Hamlin cites the revelations of GATA whistleblower Andrew Maguire at the March 25 hearing of the U.S. Commodity Futures Trading Commission as likely having more connection to what happened today. Hamlin's commentary is headlined "Options Expiration Friday -- Another Manufactured Selloff?" and you can find it at Gold Stock Bull here:
http://www.goldstockbull.com/articles/options-expiration-friday-another-...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Prophecy Resource Corp. Appoints Rob McEwen to Advisory Board
Prophecy Resource Corp. (TSX.V: PCY, OTC: PCYRF) is pleased to announce the appointment of Rob McEwen to the company's Advisory Board. McEwen is a leading Canadian mining industry entrepreneur. He is the chairman and CEO of U.S. Gold Corp. and Minera Andes Inc. McEwen was the founder and former chairman and CEO of Goldcorp Inc., whose Red Lake Mine in northwestern Ontario, Canada, is considered to be the richest gold mine in the world. During his tenure at Goldcorp, McEwen transformed the company from a collection of small companies into a mining powerhouse, growing its market capitalization from $50 million to approximately $8 billion.
For Prophecy Resource Corp.'s complete statement:
http://www.prophecyresource.com/news_2010_mar11b.php
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Preliminary Feasibility Study Completed for Seabridge Gold's KSM Project
Study Reports Reserves of 30.2 Million Oz. Gold, 7 Billion Lbs. Copper,
133 Million Oz Silver, 210 Million Lbs. Molybdenum
Base Case Life of Mine Cash Operating Costs Estimated at $144/oz. Gold Produced
(Net of Base Metal Credits)
Toronto -- Seabridge Gold Inc. has announced results from a National Instrument 43-101 compliant preliminary feasibility study of its 100-percent owned KSM project in northern British Columbia, Canada. The study was prepared by Wardrop, a Tetra Tech company, a major international engineering and consulting firm.
Seabridge President and CEO Rudi Fronk says, "The study confirms that the KSM project now hosts the largest gold reserve in Canada and one of the largest in the world. KSM is projected to provide an extraordinary mine life of more than 35 years with estimated cash operating costs well below the current average of the major gold producers. Estimated capital costs are in line with those of comparable, large-scale, undeveloped gold-copper projects and KSM has the advantage of being located in a low-risk jurisdiction."
For the complete Seabridge Gold statement:
http://www.seabridgegold.net/readmore.php?newsid=283
