4:50p ET Sunday, November 9, 2025
Dear Friend of GATA and Gold:
GATA consultant Robert Lambourne calculates tonight that the volume of gold swaps undertaken by the Bank for International Settlements remained nearly unchanged in October, 53.5 tonnes against the 54 tonnes reported for September.
... Dispatch continues below ...
... ADVERTISEMENT ...
Power Metallic Intercepts 5.35 Meters of 11.97% Cu (16.35% CuEqRec) in Hole 25-022 Infill Drilling,
Expanding the Lion Zone and Provides Updates on Fall/Winter Drill Program and Land Assembly
Company Announcement
November 4, 2025
TORONTO -- Power Metallic Mines Inc. (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV) provides a release of assays from its summer drill program and an update on its land assembly activities, together with an outlook to the fall and winter key exploration objectives.
Summer Drilling Release 2 -- Lion–Tiger Area
The summer drilling program was designed to search for extensions to the Lion Zone, specifically down plunge from known mineralization, and to infill drill, including "edge" holes, on the Lion zone to define the zone geometry to a confidence level that would allow a future mineral resource estimate to be carried out to an Indicated Resource classification.
Extensional Drilling Results
Extensional drilling was slow during the summer program as technical problems with the helicopter-supported drills led to lost holes (such as holes PML-25-019 and 024a in this release) that did not reach the mineralization horizon for Lion. Hole PML-25-017 has extended the zone to the west but failed to intersect the high-grade massive sulphide portion of the Lion zone and returned a disseminated zone of 7 meters @ 1.41% CuEqRec 1 that confirms the extension of the mineralizing Lion structure, which will see continued follow-up in the 2025 fall program. ...
... For the remainder of the announcement:
Lambourne's calculation is drawn from the bank's October statement of account, which was published this week:
https://www.bis.org/banking/balsheet/statofacc251031.pdf [2]
The BIS' gold swaps remain the most frequent and regular proofs that central banks continue to intervene surreptitiously in the gold market for purposes the BIS refuses to explain. But it's a fair assumption that the swaps are not undertaken because the parties to them want free and transparent markets to prevail for gold, since the gold price powerfully influences all financial valuations in the world and, indeed, as U.S. Secretary of State Henry Kissinger was told by a deputy in his office at the State Department in April 1974, control of gold is control of the world:
https://www.gata.org/node/13310 [3]
https://history.state.gov/historicaldocuments/frus1969-76v31/d63 [4]
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org [5]
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