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Great job, Larry! Don't let the door hit you on the way out
White House Adviser Summers Stepping Down
by Caren Bohan and Ross Colvin
Reuters
Tuesday, September 21, 2010
http://www.reuters.com/article/idUSTRE68K4RU20100921
WASHINGTON -- White House economic adviser Larry Summers on Tuesday announced plans to leave his job by the end of the year, marking a major staff shake-up as President Barack Obama struggles to get the economy back on track.
Summers said in a statement released by the White House that he was looking forward to returning to his teaching job at Harvard University and Obama said he would continue to seek Summers' counsel on an informal basis.
A former Treasury secretary known for his outspokenness, Summers brought years of experience in economic policymaking to his job as director of the White House National Economic Council. But he has been criticized by some liberal Democrats as too close to Wall Street and there were reports of clashes on the economic team.
Summers will be the third high-ranking economic official to depart, leaving Treasury Secretary Timothy Geithner as the sole senior member of that team still in his original job.
White House budget director Peter Orszag stepped down in July and White House Council of Economic Advisers Chairwoman Christina Romer left her job at the beginning of this month.
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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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
