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Pat Heller: Dollar plunges and commodities soar, but not gold and silver
10:50a ET Saturday, August 7, 2010
Dear Friend of GATA and Gold (and Silver):
Over the last five weeks, Patrick Heller reports at Coin Update, the U.S. dollar has fallen almost 6 percent and most commodity prices have risen sharply but gold and silver have fallen 4.3 and 1.4 percent, respectively. "This does not make sense," Heller writes, except in the context of surreptitious suppression of gold and silver prices by the U.S. government as part of a general scheme of currency market manipulation. Heller, proprietor of Liberty Coin Service in Lansing, Michigan, cites GATA's work. His commentary is headlined "While Gold and Silver Languish, U.S. Dollar Plummets and Other Commodity Prices Soar" and you can find it at Coin Update here:
http://news.coinupdate.com/gold-and-silver-us-dollar-plummets-commodity-...
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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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
