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It's the London Gold Pool's collapse all over again, Embry tells King World News
3:30p CT Tuesday, October 25, 2011
Dear Friend of GATA and Gold:
The precious metals are moving up again as investors realize that only unprecedented money creation will resolve Europe's bankruptcy, Sprott Asset Management's John Embry tells King World News today. Massive demand for real metal is overwhelming the price suppression scheme much as it did in the last days of the London Gold Pool in 1968, Embry says. An excerpt from the interview is posted at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/10/25_J...
Meanwhile, in another interview with King World News, resource broker Rick Rule predicts a wave of acquisitions of junior mining companies as major miners, flush with cash, seek to replace their reserves cheaply. An excerpt from that interview is posted at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/10/25_R...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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Golden Phoenix Signs Definitive Agreement to Acquire and Reopen Santa Rosa Gold Mine in Panama
Company Press Release
Monday, September 19, 2011
SPARKS, Nevada -- Golden Phoenix Minerals Inc. (OTC Bulletin Board: GPXM) has signed a definitive agreement to acquire a 60 percent interest, with an option to buy an additional 20 percent interest, in the Santa Rosa gold mine in Panama, now owned by Silver Global S.A., a Panamanian corporation.
Santa Rosa produced more than 100,000 ounces of gold from 1996 to 1998 before being closed in part to low gold prices, which are now more than five times higher.
Golden Phoenix intends to acquire its initial 60 percent interest in Santa Rosa by acquiring 60 percent of the share capital of a recently created company under the name Golden Phoenix Panama S.A., formed to hold and operate the mine.
Tom Klein, CEO of Golden Phoenix says: "The agreement establishes a solid framework from which we can advance Mina Santa Rosa to production-ready status."
For Golden Phoenix's complete statement, please visit:
http://goldenphoenix.us/press-release/golden-phoenix-signs-definitive-ac...
