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Dan Norcini: Gold is the battle for economic supremacy
6:45p ET Wednesday, September 22, 2010
Dear Friend of GATA and Gold:
From Dan Norcini's daily commentary tonight at Jim Sinclair's Internet site:
"As our wise friend Monty Guild has written in his recent commentary, the rise of the yellow metal is not going to be without its enemies' notice. The problem for the West and its perennial gold price-rigging scheme is that the central banks of other emerging economic powers around the globe have plans to increase their official gold holdings as part of their reserves and are emerging as buyers of the yellow metal. While the West may attempt to fight the rise in price, the East is going to be there to buy it up on the dips that such machinations create. I have long maintained that the battle over gold is really a battle for economic supremacy."
Norcini's commentary is headlined "Hourly Action in Gold from Trader Dan" and you can find it at JSMineSet here:
http://jsmineset.com/2010/09/22/hourly-action-in-gold-from-trader-dan-338/
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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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
