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To King World News, Turk explains disbelief of chances for deflation
11:45p ET Saturday, July 10, 2010
Dear Friend of GATA and Gold:
Interviewed this week by Eric King of King World News, GoldMoney founder, Freemarket Gold & Money Report editor, and GATA consultant James Turk explains why he believes deflation with the U.S. dollar is impossible. Turk adds that he thinks gold's latest bottom is in. You can listen to the interview at the King World News Internet site here:
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/7/10_J...
Meanwhile over at the Freemarket Gold & Money Report, Turk writes that his recent essay asserting that banks have begun to lend money again was in error because of bank accounting gimmickry. Turk's explanation is headlined "Banks Are Not Lending Again" and you can find it here:
http://www.fgmr.com/banks-are-not-lending.html
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
Join GATA here:
New Orleans Investment Conference
Wednesday-Saturday, October 27-30, 2010
Hilton New Orleans Riverside Hotel
http://www.neworleansconference.com/redirect.php?page=index.html&source_...
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http://gata.org/node/wallstreetjournal
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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
