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Jan Nieuwenhuijs: Austria's gold transfer from London is seven years overdue
By Jan Nieuwenhuijs
Gainsville Coins, Lutz, Florida
Thursday, June 2, 2022
A plan conceived by the Austrian central bank in 2015 to move 50 tonnes of their monetary gold from London to Switzerland has not been realized seven years later. Here is an introduction to what could possibly have happened.
Since 2007 the Austrian central bank (Oesterreichische Nationalbank, hereafter "OeNB") owns a few kilograms short of 280 tonnes of gold. In a report released by the Austrian “court of audits” (Rechnungshof, RH) from February 2015 it stated Austria was holding too much of its metal (82%) in London at the Bank of England.
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Prime Mining Intercepts 62 gpt Gold and 978 gpt Silver over 3.6 Meters
in Step-Out Drilling at Guadalupe East Deposit in Mexico
Company Announcement
Wednesday, June 1, 2022
VANCOUVER, British Columbia, Canada -- Prime Mining Corp. (TSX-V: PRYM, OTCQB: PRMNF, Frankfurt: 04V3) announces additional Phase 2 drill results from 12 step-out drill holes at the Guadalupe East deposit in Mexico. Guadalupe East is one of eight known gold-silver deposits that comprise the current resource at Los Reyes.
22GE-53 has four intercepts:
-- 61.99 grams per tonne gold and 977.6 gpt silver over 3.6 meters estimated true width and 9.67 gpt gold and 314.0 gpt silver over 1.1 m estimated true width.
-- 9.67 gpt gold and 314.0 gpt silver over 1.1 meters etw.
-- 3.01 gpt gold and 220.0 gpt silver over 1.0 meter etw.
-- 5.90 gpt gold and 341.0 gpt silver over 0.7 meters etw. ...
Chief Executive Officer, Daniel Kunz commented: "The high-grade drill results reported today will continue to expand the resource potential at Guadalupe East considerably. We are encouraged by multiple intercepts of high-grade gold-silver mineralization being encountered in individual drill holes on the west end of this area. We await assay results from more step-out drill holes and expect to report these results as soon as they become available. Ongoing drilling has now defined the Guadalupe East vein group length over 420 meters and the total strike length of the Guadalupe East vein system now over 1,000 metres.” ...
... For the remainder of the announcement:
The court of audits concluded that all contracts between OeNB and its external depositories, but mainly the one in England, contained deficiencies and auditing measures were lacking.
Soon after the Austrian central bank announced a new storage concept. Contracts with external depositories would be reviewed and amended, 90 tonnes stored at BOE would be repatriated, and 50 tonnes would be transferred from London to Switzerland. Within five years (by 2020) the new storage concept should have been completed. ...
... For the remainder of the report:
https://www.gainesvillecoins.com/blog/austrian-gold-via-london-switzerland-has-not-arrived
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