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Having called plunge, Grandich and Davies jump back in; Sinclair says: Relax!
8:29a ET Thursday, May 5, 2011
Dear Friend of GATA and Gold (and Silver):
GATA is not in the trading business or an investment adviser, but when our friends in those lines of work talk about the precious metals, we know that our other friends like to listen -- especially when our friends with great trading records talk.
At 11:33a ET today Peter Grandich of the Grandich Letter, who had called the plunge in the precious metals exactly, announced that he had returned to being fully invested in them:
http://www.grandich.com/2011/05/time-to-go-back-in-gold-1481-silver-35-75/
Tonight in an interview with King World News, Hinde Capital CEO Ben Davies, who had also called the plunge exactly, reported that his firm had covered its hedges and was getting back into silver too. "This is the start of a great opportunity to accumulate silver," Davies said. "All the key fundamental issues in the world have not gone away, nor those specific to silver, such as the fact that it is under-owned and short of supply in the medium-term." An excerpt from that interview can be found at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/5_Ben...
And at 2:22p ET today the dean of gold traders, mining entrepreneur Jim Sinclair of JSMineSet.com, wrote that the plunge is only proof that gold will make a major move upward in June. Sinclair's advice to the friends of gold and silver was simply, "Relax":
http://jsmineset.com/2011/05/05/the-foundation-for-gold-at-5000/
Grandich, Davies, and Sinclair will be among the speakers at GATA's Gold Rush 2011 conference in London in August. You can learn about the conference and register for it at its Internet site here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Sona Drills 85.4g Gold/Ton Over 4 Metres at Elizabeth Gold Deposit,
Extending the Mineralization of the Southwest Vein on the Property
Company Press Release, October 27, 2010
VANCOUVER, British Columbia -- Sona Resources Corp. reports on five drillling holes in the third round of assay results from the recently completed drill program at its 100 percent-owned Elizabeth Gold Deposit Property in the Lillooet Mining District of southern British Columbia. Highlights from the diamond drilling include:
-- Hole E10-66 intersected 17.4g gold/ton over 1.54 metres.
-- Hole E10-67 intersected 96.4g gold/ton over 2.5 metres, including one assay interval of 383g of gold/ton over 0.5 metres.
-- Hole E10-69 intersected 85.4g gold/ton over 4.03 metres, including one assay interval of 230g gold/ton over 1 metre.
Four drill holes, E10-66 to E10-69, targeted the southwestern end of the Southwest Vein, and three of the holes have expanded the mineralized zone in that direction. The Southwest Vein gold mineralization has now been intersected over a strike length of 325 metres, with the deepest hole drilled less than 200 metres from surface.
"The assay results from the Southwest Zone quartz vein continue to be extremely positive," says John P. Thompson, Sona's president and CEO. "We are expanding the Southwest Vein, and this high-grade gold mineralization remains wide open down dip and along strike to the southwest."
For the company's full press release, please visit:
http://sonaresources.com/_resources/news/SONA_NR19_2010.pdf
Join GATA here:
World Resource Investment Conference
Sunday-Monday, June 5-6, 2011
Vancouver Convention Centre East
Vancouver, British Columbia, Canada
http://cambridgehouse.com/conference-details/world-resource-investment-c...
Gold Rush 2011
GATA's London Conference
Thursday-Saturday, August 4-6, 2011
Savoy Hotel, London, England
http://www.gatagoldrush.com/
Support GATA by purchasing gold and silver commemorative coins:
https://www.amsterdamgold.eu/gata/index.asp?BiD=12
Or by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
http://gata.org/node/wallstreetjournal
Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon:
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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
