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Murray Pollitt: Lessons of history
6:50p ET Monday, April 26, 2010
Dear Friend of GATA and Gold:
Having lived the last half century of it, perhaps only Murray Pollitt of Toronto mine finance house Pollitt & Co. could put the current gold market into the perspective of history as well as he has done in his latest client letter. The current market, Pollitt writes, reminds him of the market in 1972, the eve of its explosion -- and back then there were no derivatives, mine production wasn't struggling as it is now, and there was no developing world making huge new demands for commodities. Pollitt's letter is headlined "Lessons of History" and he has generously consented for GATA to share it with you here:
http://www.gata.org/files/PollittMarketLetter-04-19-2010.pdf
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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