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Gold, silver impress Sprott by stabilizing so fast after Tuesday's smash
11:10p Friday, August 14, 2020
Dear Friend of GATA and Gold:
Mining entrepreneur and philanthropist Eric Sprott, in his weekly interview with Craig Hemke for Sprott Money News, finds it remarkable that gold and silver prices stabilized as quickly as they did after Tuesday's smash in the futures markets.
Sprott and Hemke note that real metal remains scarce at coin and bullion shops and is priced far above futures prices. The shortage of real product, Sprott says, is "amazing."
... Dispatch continues below ...
Asante Gold Announces Kubi 3D Model
Extends Gold Mineralizing System
Company Announcement via Globe Newswire
Thursday, July 2, 2020
VANCOUVER, British Columbia, Canada -- Asante Gold Corp. (CSE:ASE / Frankfurt:1A9 / U.S.OTC: ASGOF) has received the results of 3D magnetic modeling completed over its Kubi mining lease in the Ashanti Gold Belt in Ghana.
The results show that the Kubi Main Zone gold resource is intimately associated with and interfingers the western sheared contact of a magnetic high feature that plunges to more than 2 kilometers in depth. Here is the 3D model video:
http://www.asantegold.com/assets/Video/SEMSpitMagSmthCore.mp4
In Ghana, Africa's largest gold producer, many big mines are located along northeast-trending regional shear systems that exceed 250 kilometers in length. Studies indicate that the hydrothermal gold mineralizing system that generated the Ashanti Gold Belt deposits was "gigantic and extended to at least 10 to 15 kilometers in depth" (Schmidt Mumm et al., 1996). The Ashanti shear zone hosts the largest single gold resource in Ghana, the 66-million-ounce Obuasi mine. This major shear zone cuts Kubi 15 kilometers southwest of Obuasi. ...
... For the remainder of the announcement:
https://www.globenewswire.com/news-release/2020/07/02/2056982/0/en/Asant...
Sprott is also amazed that 2 billion ounces of silver were traded in the futures market on Tuesday, more than double the world's annual silver production. Investors, Sprott says, must address the likelihood that the silver market is grossly manipulated by such trading.
Sprott continues to expect that the gold-silver ratio will close dramatically, and he laments that banks continue to refuse to deliver on the silver certificates held by their depositors.
As usual, Sprott answers questions about a few mining companies in which he is invested.
The interview is 26 minutes long and can be heard at Sprott Money here:
https://www.sprottmoney.com/Blog/price-manipulation-and-a-case-for-physi...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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