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News media notice of metals market manipulation growing, Butler tells King
12:45p ET Saturday, May 8, 2010
Dear Friend of GATA and Gold (and Silver):
Silver market analyst Ted Butler, in his weekly interview with Eric King of King World News, reports that last week's plunge in silver was a paper market manipulation, as there was only buying in real metal. Butler adds that there is increasing notice in the mainstream financial media of complaints of precious metals market manipulation. He cites particularly the recent CNBC appearance of Omnis Inc. executive James M. Rickards, in which Rickards noted the confirmation e-mail a Butler newsletter subscriber received from the U.S. Justice Department that J.P. Morgan Chase & Co. is under investigation in connection with silver market manipulation. (See http://www.gata.org/node/8605.) The King World News interview with Butler is seven minutes long and you can find it here:
http://www.kingworldnews.com/kingworldnews/Broadcast_Gold+/Entries/2010/...
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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