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Craig Hemke at Sprott Money: Untrustworthy unallocated gold, Part Umpteen
9:41p ET Tuesday, June 16, 2021
Dear Friend of GATA and Gold:
The TF Metals Report' Craig Hemke today calls attention to the latest review of the Perth Mint's financial statement by Rob Kientz of Gold/Silver Pros and London-based accountant Dan Vigario, who conclude again that the Perth Mint is operating a fractional-reserve gold and silver bank and that, contrary to the mint's claims, the mint does not hold enough metal to back all its obligations to customers.
... Dispatch continues below ...
Asante Gold Acquires Key Exploration Land
on Ashanti and Asankrangwa Gold Belts in Ghana
Company Announcement
via Globe Newswire, Omaha, Nebraska
Friday, May 28, 2021
VANCOUVER, British Columbia, Canada -- Asante Gold Corp. (CSE: ASE / Frankfurt: 1A9 / U.S. OTC: ASGOF) reports that it has received notice from the Minerals Commission of Ghana that eight highly prospective concessions covering approximately 314 square kilometers have been recommended for transfer to Asante.
These licenses are comprised of the Diaso (104.1 km2), Juabo (59.2 km2), Manhia (18.69 km2), Dunkwa Gyimigya (32.72 km2), Gyimigya (5.52 km2), Agyaka Manso (40.0 km2), Amuabaka (28.86 km2), and Nkronua-Atifi (24.97 km2) prospecting licenses. All licenses are being acquired as issued by the Minerals Commission from Goknet Mining Co. Ltd. pursuant to the terms of agreement with Goknet dated December 28, 2016.
The concessions were variously explored by Canadian exploration juniors Nevsun Resources, Tri-Star Gold, and Golden Rule Resources in the late 1990s and most recently by PMI Gold Corp. (now Galiano Gold) from 2002 through August 2014, when rights to the land were acquired by Goknet. ...
... For the remainder of the announcement:
https://www.globenewswire.com/
While the details here may be argued, it is admitted that the Perth Mint offers customers "unallocated" gold accounts, meaning that such customers have only a credit with the mint and that the mint may do whatever it wants with their money until such time as they convert to "allocated" accounts or seek to take delivery of the metal they imagine they own.
Anyone seeking to buy monetary metals should understand this from the start. The Perth Mint isn't cheating anyone who hasn't volunteered to be cheated.
Hemke's analysis is headlined "Untrustworthy Unallocated Gold" and it's posted at Sprott Money here:
https://www.sprottmoney.com/blog/Untrustworthy-Unallocated-Gold-Craig-Hemke-June-15-2021
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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