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What bubble? Mr. T's new gig shows public is selling, not buying gold
Pity the Fool Who Doesn't Invest in Gold
By Thomas Kaplan
The New York Times
Thursday, October 14, 2010
http://dealbook.blogs.nytimes.com/2010/10/14/pity-the-fool-who-doesnt-in...
The price of gold continues to rise, so it is only fitting that -- of all people -- Mr. T is cashing in.
Wearing a camouflage shirt, American flag-motif trousers, and (obviously) many, many gold chains, the "A-Team" TV show star appeared on Bloomberg Television's "Taking Stock" to talk up the precious metal. After all, who better than a man who has made a living out of, among other things, wearing many bling gold chains?
It turns out Mr. T is now serving as the public face of a mail-in gold-buyback business called Gold Promise, which is run by Cash America International. The company got some P.R. by virtue of Mr. T's appearance, and whoever was watching Bloomberg got -- well -- an interesting perspective on an ever-more-popular commodity.
Mr. T revealed in the interview that he bought his first gold chain in 1977. It cost him $129, he said, and it took him three months to get it out of layaway.
"When I was little, I used to adore gold," he said. "It was something special."
In talking about gold's virtues, Mr. T was not at a loss for words. (It has something to do with the Inca empire, Jesus Christ, and the Ark of the Covenant; we recommend you watch for yourself.) But he declined to predict how the price of gold might change.
"I'm a free spirit," he said by way of explanation.
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Video of Mr. T's appearance on Bloomberg Television can be found here:
http://www.youtube.com/watch?v=pWAu7FmKbYc&feature=player_embedded
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:
The Silver Summit
Thursday-Friday, October 21-22, 2010
Davenport Hotel, Spokane, Washington
http://www.silversummit.com/
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 Resource Goes Into Production
at Ulaan Ovoo Coal Mine in Mongolia
A commission appointed by Mongolia's Ministry of Mineral Resources and Energy has conducted the final permit inspection at Prophecy Resource Corp.'s Ulaan Ovoo mine site and has instructed the company to begin coal production. Prophecy Resource (TSX.V: PCY) has begun production of its first 10,000 tonnes of coal as a trial run of supply to be taken by rail to electric power stations in Darkhan and Erdenet, Mongolia's second and third largest cities after the capital, Ulaanbaatar. The company is the second-ever Canadian mining company to get a permit to mine in Mongolia and start production there.
For the company's complete announcement, please visit:
http://www.prophecyresource.com/news_2010_oct14.php
