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Maguire explains how Basel III will shrink market for 'paper' gold
12:45p ET Sunday, March 14, 2021
Dear Friend of GATA and Gold:
In his weekly interview with Shane Moran for Kinesis Money, London metals trader Andrew Maguire explains how implementation of the "Basel III" banking standards, in pursuit of reducing counterparty risks for banks, will shrink the market for unallocated, "paper" gold and thereby push up gold's price.
... Dispatch continues below ...
VanGold Mining Closes $16,950,000 Private Placement
Welcomes New Shareholders Eric Sprott and VBS,
and Sees Endeavour Silver Becoming Largest Shareholder
Wednesday, March 10, 2021
VANCOUVER, British Columbia, Canada -- VanGold Mining Corp. (TSXV:VGLD) has closed its non-brokered private placement of units at a price of $0.30 per unit, announced December 23, 2020, and expanded on January 19, 2021, January 25, 2021, and February 17, 2021.
The Company has issued a total of 56,500,000 units for gross proceeds of $16,950,000 with each Unit consisting of one common share of the company and one half of a common share purchase warrant. Each warrant entitles the holder to purchase an additional common share of the company at a price of $0.45 within three years of closing, subject to acceleration in certain events.
The company thanks the more than 180 subscribers, large and small, who have participated in this private placement. We welcome them to our adventure of potential mineral discovery and production of silver and gold in Guanajuato, Mexico.
VanGold would especially like to acknowledge the investment and backing of Endeavour Silver Corp., VBS Exchange Pty. Ltd., and renowned precious metals investor Eric Sprott. ...
... For the remainder of the announcement:
Maguire says central banks with gold reserves will want a higher price for the monetary metal to offset their enormous debt burdens. This observation echoes the 2012 hypothesis of the U.S. economists Paul Brodsky and Lee Quaintance:
As gold is revalued upward, Maguire says, it will become highly strategic for China to announce that it has a much larger gold reserve than it has reported to the International Monetary Fund.
Joining Maguire in the interview's second section is fund manager David Tice, who believes that gold can rise with stocks and that silver is spectacularly undervalued.
The interview is an hour long and can be viewed at YouTube here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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