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Jim Sinclair: The top callers in gold have been wrong for eight years
8:10p ET Friday, October 15, 2010
Dear Friend of GATA and Gold:
Gold trader and mining executive Jim Sinclair today told Eric King of King World News that the top callers in gold have been wrong for eight years and they're wrong again now. Right or wrong on a top now, some of the top callers indeed have been advising against buying gold for the last thousand dollars up -- and somehow they still get interviewed as experts by the mainstream financial news media. Well, they'll get it right someday -- if they're still young. Sinclair's remarks are headlined "Jim Sinclair -- The Top Callers Have Been Dead Wrong" and you can find them at King World News here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/10/15_J...
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:
The Silver Summit
Thursday-Friday, October 21-22, 2010
Davenport Hotel, Spokane, Washington
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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
