You are here
Dave Kranzler: The Comex is a complete joke
By Dave Kranzler
Investment Research Dynamics, Denver
Sunday, January 5, 2020
Comex gold contracts were brought to life in 1974. Correspondence between senior officials in and advisors to the Nixon Administration discussed the need to create an “investment” vehicle to “capture” institutional investment money directed into gold in order to prevent the rapid rise in gold after President Nixon closed the gold window. If you are curious, the letters are posted in the GATA archive:
Since the introduction of paper gold, the Comex -- gold and silver trading -- has evolved into what can only be described as a caricature of a “market.” The open interest in gold contracts is nearly 10 times the amount of physical gold reportedly held in Comex vaults. It's 60 times the amount of “registered” gold, the gold designated as available for delivery. ...
... For the remainder of the analysis:
Northstar Gold Closes Initial Public Offering
and Lists on Canadian Securities Exchange
Wednesday, December 31, 2019
NEW LISKEARD, Ontario, Canada -- Northstar Gold Corp. (CSE: NSG) announces that it has completed its initial public offering of 9,985,498 common shares at the price of C$0.30 per common share for gross proceeds of C$2,995,649. The corporation will be listed as a natural resource company on the Canadian Securities Exchange (CSE) and the common shares are expected to commence trading on January 2, 2020 under the trading symbol NSG.
Haywood Securities Inc. and Canaccord Genuity Corp. acted as co-lead agents and joint bookrunners under the offering. For their services, the co-lead agents received a cash commission equal to 10% of the gross proceeds of the offering and 998,549 common shares reserved for issuance upon exercise of the common share purchase warrants granted to the co-lead agents upon completion of the offering. The agents' warrants are exercisable at a price of $0.30 per common share within two years.
The corporation intends to use the net proceeds from the offering to complete Phase I of the work program recommended in the technical report dated December 10, 2018, entitled "Independent Technical Report on the Miller Gold Project, Kirkland Lake, Ontario." ...
... For the remainder of the announcement:
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit: