You are here
Yoo-hoo, World Gold Council -- Do you have any explanation for this?
GATA does.
* * *
Gold Among the Worst 2021 Investments, Allstarcharts Founder Says
By Thomas Hum
Yahoo Finance, Sunnyvale, California
Wednesday, August 11, 2021
In light of gold's flash crash on Monday, with the commodity dropping to its lowest price since March at $1,730.13 an ounce in New York by late afternoon, some investors may be growing wary about its efficacy as an inflation hedge in the near term. According to J.C. Parets, Allstarcharts.com founder and chief strategist, gold has become one of the worst investments over the past year.
... Dispatch continues below ...
Asante Gold Announces Acquisition of Resolute's Bibiani Gold Mine in Ghana for US$90 Million
Company Announcement
via Globe Newswire, Omaha, Nebraska
Wednesday, August 4, 2021
VANCOUVER, British Columbia, Canada -- Asante Gold Corp (CSE:ASE / Frankfurt: 1A9 / U.S. OTC:ASGOF) announces that it has entered into an agreement with Resolute Mining Ltd. to purchase 100% of the Bibiani Gold Mine in Ghana.
Asante has agreed to buy all of Resolute's interest in Bibiani, through the purchase of 100% of the shares in Mensin Bibiani Pty Ltd., by paying to Resolute total cash consideration of US$90 million ...
The agreement has received ministerial consent, having been approved by the Ghanaian minister of lands and natural resources, with completion expected 10 days after the date of this announcement (subject only to no material adverse change over this period). ...
To fund the initial payment, start-up, and working capital, Asante has accepted subscription receipts from accredited investors for C$80 million, which on completion will convert to 118,857,143 Asante common shares at C$0.70 per share. A finder's fee of 4% of the total subscription receipts is payable in shares. No new control blocks will be created as a result of this financing. ...
... For the remainder of the announcement:
https://finance.yahoo.com/news/asante-gold-announces-acquisition-resolute-003100480.html
"Nobody wants your rocks, right? I mean, that's the theme. ... The gold bugs have come up with every story under the sun as to why gold should go up, and it doesn't," Parets told Yahoo Finance Live. "In fact, over the last year, you'd be hard pressed to find a worse investment over the last year than gold."
As inflation reaches the highest levels seen since 2008, gold prices have fallen over 16% in a year -- down over $300 from an August 2020 peak of $2,069 per ounce. Just a year ago, institutions like Bank of America projected that gold’s value could skyrocket to as much as $3,000.
"You could have bought anything and it would have made money but not gold. So it just really is the worst of the bunch,' Parets added. "And even in commodities, every commodity in the world is going up, except for gold. ...
... For the remainder of the report:
* * *
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
2 Poydras St., New Orleans, Louisiana
Tuesday-Friday, October 19-22, 2021
https://neworleansconference.com/wp-content/uploads/2021/08/NOIC2021_Powell.html
* * *
Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
http://www.gata.org/files/GATA-4-wine-bottles.jpg
Buyers can compose their case by choosing as many as four varietals from the list here:
http://www.gata.org/files/FayJWineryVarietals.jpg
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
* * *
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:
