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Physical demand overpowering COT, Ted Butler tells Eric King
1p ET Saturday, June 26, 2010
Dear Friend of GATA and Gold (and Silver):
Silver market analyst Ted Butler tells Eric King of King World News that the commitment of traders reports in gold and silver did not get much more negative last week despite the rally in the precious metals, and he increasingly feels that the configuration of trading positions is losing influence over prices as physical demand for the metals increases. You find the interview at the King World News Internet site here:
http://www.kingworldnews.com/kingworldnews/Broadcast_Gold+/Entries/2010/...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Prophecy to Become Coal Producer This Year
with 1.5 Billion Tonnes of Resource
Prophecy Resource Corp. (TSX.V: PCY) announced on May 11 that it has entered into a mine services agreement with Leighton Asia Ltd. to begin coal production this year. Production will begin with a 250,000-tonne starter pit as planned in August, with production advancing to 2 million tonnes per year in 2011. Prophecy is fully funded to production and its management team includes John Morganti, Arnold Armstrong, and Rob McEwen.
For Prophecy's complete press release about its production plans, please visit:
http://www.prophecyresource.com/news_2010_may11.php
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