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James Turk: Inflation, not deflation, is the threat to the dollar
5:30p ET Thursday, July 6, 2010
Dear Friend of GATA and Gold:
Writing for King World News, GoldMoney founder and GATA consultant James Turk argues that the U.S. dollar has reached its "Havenstein moment," named for the president of Weimar Germany's Reichsbank who printed the mark into oblivion. Inflation, Turk writes, is already raging as measured by oil and other commodity prices, and since the dollar is not restrained by any requirement for redeeming it in precious metals, deflation isn't even possible. Turk's commentary is headlined "Threat to the U.S. Dollar" and you can find it at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/7/8_Jam...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Sona Resources Expects Positive Cash Flow from Blackdome,
Plans Aggressive Exploration of Elizabeth Gold Property
On May 18, 2010, Sona Resources Corp. (TSXV: SYS, Frankfurt: QS7) announced the release of a preliminary economic assessment for gold production at its flagship Blackdome and Elizabeth properties in British Columbia.
Sona Executive Chairman Nick Ferris says: "We view this as a baseline scenario for gold production. The project is highly sensitive to the price of gold. A conservative valuation of gold at $1,093 per ounce would result in a pre-tax cash flow of $54 million. The assessment indicates that underground mining at the two sites would recover 183,600 ounces of gold and 62,500 ounces of silver. Permitting and infrastructure are already in place for processing ore at the Blackdome mill, with a 200-tonne per day throughput over an eight-year mine life. Our near-term goal is to continue aggressive exploration at Elizabeth and develop a million-plus-ounce gold resource, commencing production in 2013."
For complete information on Sona Resources Corp. please visit: www.SonaResources.com
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Hilton New Orleans Riverside Hotel
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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
