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A review of gold, silver market manipulation complaints to the CFTC
11p ET Monday, August 16, 2010
Dear Friend of GATA and Gold (and Silver):
Allan Flynn, an architect in Australia who follows the precious metals markets, has examined the nearly 3,000 public submissions made to the U.S. Commodity Futures Trading Commission this year about manipulation in the gold and silver futures markets. Flynn finds that complaints came from a UBS vice president and a banker in rural Iowa as well as from people who were sore that silver market analyst Ted Butler, the great crusader against silver market manipulation, wasn't invited to testify at the CFTC's March 25 hearing on the gold and silver markets and from people who were sore that the CFTC's Internet video and audio feed of GATA Chairman Bill Murphy's testimony was cut off, alone among all testimony. Flynn's commentary is headlined "Too Big To Foil -- Submissions to the CFTC Precious Metals Hearing, March 2010" and you can find it at his blog here:
http://toobigtofoil.blogspot.com/2010/08/black-eyed-bankers.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
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Toronto Resource Investment Conference
Saturday-Sunday, September 25-26, 2010
Metro Toronto Convention Center, Toronto, Ontario, Canada
http://www.cambridgeconferences.com/index.php/toronto-resource-investmen...
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Thursday-Friday, October 21-22, 2010
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Wednesday-Saturday, October 27-30, 2010
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
