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Murray Pollitt: Cosmic shifts

Section: Daily Dispatches

2:22p ET Friday, April 8, 2011

Dear Friend of GATA and Gold:

In his latest market letter, Murray Pollitt of Toronto mine finance house Pollitt & Co. writes that inflation is becoming the big financial story and that the gold market hasn't caught up with it. Pollitt writes:

"It's hard to believe, but the real move into gold has yet to begin. The metal is still seen as a speculation, a region to enter only with an eye on the exit. The day when the majority of investors see gold as a core holding, as a sober one-decision investment, is some distance away. But when it comes, investors will realize that gold is scarce and tough to produce and its centuries-old reputation as a store of value is fully justified. The big capital gains will take place between now and that time."

Pollitt's letter is headlined "Cosmic Shifts" and he has graciously allowed GATA to post it here:

http://www.gata.org/files/MurrayPollitt-03-30-2011.pdf

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.



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Join GATA here:

An Evening with Bill Murphy and James Turk
Sponsored by Deutsche Edelmetall-Gesellschaft
Friday, April 29, 2011
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http://www.goldmoney.com/munich-2011-april-29.html

Gold Rush 2011
GATA's London Conference
Thursday-Saturday, August 4-6, 2011
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Prophecy Resource Spins Off Platinum/Palladium Venture:
World-Class PGM Deposit in Yukon

Company Press Release, January 18, 2011

VANCOUVER, British Columbia -- Prophecy Resource Corp. (TSX-V:PCY)and Pacific Coast Nickel Corp. announce that they have agreed that PCNC will acquire Prophecy's Nickel PGM projects by issuing common shares to Prophecy.

PCNC will acquire the Wellgreen PGM Ni-Cu and Lynn Lake nickel projects in the Yukon Territory and Manitoba respectively by issuing up to 550 million common shares of PCNC to Prophecy. PCNC has 55.7 million shares outstanding.

Following the transaction:

-- Prophecy will own approximately 90 percent of PCNC.

-- PCNC will consolidate its share capital on a 10 old for one new basis.

-- Prophecy will change its name to Prophecy Coal Corp. and PCNC will be renamed Prophecy Platinum Corp.

-- Prophecy intends to distribute half of its PCNC shares to shareholders pro-rata in accordance with their holdings.

Based on the closing price of the common shares of PCNC on January 17, $0.195 per share, the gross value of the transaction is $107,250,000.

For the complete announcement, please visit:

http://prophecyresource.com/news_2011_jan18.php