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Peter Grandich: Another lame excuse for dissing gold
11:35a ET Monday, April 19, 2010
Dear Friend of GATA and Gold:
Peter Grandich's letter today scoffs at suggestions that gold is under pressure because of expectations that gold investor Paulson & Co.'s mention in the lawsuit brought by the U.S. Securities and Exchange Commission against Goldman Sachs will cause the firm to dump its gold investments. The mainstream financial world and news media, Grandich writes, simply hate gold and always will contriving excuses to put it down. Grandich's commentary is headlined simply "Gold Update" and you can find it at the Grandich Internet site here:
http://www.grandich.com/2010/04/gold-update-3/
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Private Placement Offering for Silver Phoenix Resources Inc.
Each flow-through unit consists of one common share in the capital of the corporation (a "flow-through share") and half of one non-flow-through common share purchase warrant (a "warrant"). Each whole warrant shall entitle the holder to acquire one non-flow-through common share in the capital of the corporation (a "warrant share") until 5 p.m. Vancouver time on the date 24 months following the closing date (as defined herein) at a price of $0.70.
The proceeds raised from the offering will be used for general exploration and to drill the 100-percent-owned River Jordan Property. This historic property hosts the King Fissure [aka River Jordan] lead, zinc, and silver deposit.
Following a comprehensive field program in 1991, a structural re-interpretation of the complex folds hosting the King fissure deposit resulted in a major increase in potential mineralization to 20 million tonnes of 7.5 percent lead, 7.5 percent zinc, and 100 g/t silver [Laird and Clark, 1991]. The estimated tonnage of the light rare earth and niobium-bearing extrusive carbonatite unit is on the order of 33,750,000 tonnes, with no ore grade currently established. This historical estimate predates National Instrument 43-101 legislation.
Interested parties can contact:
William J. Murray, President and CEO
Silver Phoenix Resources Inc.
Box 134 / 4631 75th Ave. NE
Canoe, British Columbia, V0E 1K0 Canada
250-832-0336
bmurray@sunwave.net
www.silverphoenixresources.com
For more information about the River Jordan Property, please visit:
http://public.iwork.com/document/?a=p1047687515&d=River_Jordan_Property.key
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