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Adrian Douglas: More forensic evidence of gold and silver price manipulation
12:40p ET Wednesday, September 22, 2010
Dear Friend of GATA and Gold (and Silver):
In another stunning study of gold and silver market data, GATA board member Adrian Douglas, publisher of the Market Force Analysis letter, finds that from 2003 to 2008 the prices of gold and silver were so closely correlated that the silver price could be determined almost precisely as a constant fraction of the gold price. Douglas writes:
"Silver prices in this five-year period did not move with respect to the very different fundamentals of silver. They were entirely determined by the price of gold. If I had been on a desert island between 2003 and 2008 and you could have called me on the phone and told me the price of gold, I could have told you what the price of silver was that day."
Such a longstanding correlation isn't possible by happenstance, Douglas observes. It could be only comprehensive market manipulation.
Douglas' study is titled "More Forensic Evidence of Gold and Silver Price Manipulation" and you can find it at the Market Force Analysis Internet site here:
https://marketforceanalysis.com/article/latest_article092110.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:
Toronto Resource Investment Conference
Saturday-Sunday, September 25-26, 2010
Metro Toronto Convention Center, Toronto, Ontario, Canada
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Thursday-Friday, October 21-22, 2010
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Wednesday-Saturday, October 27-30, 2010
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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
