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Hello GATA members,
Here is an initiative to follow. In response to the GATA Committee call
for ACTION NOW, Dr Sam Martirosian has written to Newport as a
shareholder, drawing attention to GATA and thanking Newport for NOT
HEDGING. You other shareholders out there, confront the mining companies
that ARE hedging, thank the mining companies that ARE NOT. Let the
Your GO GATA Moderator, Bodvin.
- - -
This is Dr Martirosian's letter:
From: Dr. Martirosian
Date: Saturday, March 06, 1999 12:03
PMSubject: Support GATA
I am one of Newmont's devoted shareholders.
On behalf of GATA committee I ask you - Please help or join our =
fight for Gold.
The Gold Anti-Trust Action Committee (GATA) was organized in January,
1999 as a Delaware corporation "to advocate and undertake litigation
against illegal collusion to control the price and supply of certain
financial securities, particularly securities involving gold."
GATA also seeks to disclose and publicize the huge speculative short
positions in gold taken by financial institutions and bullion banks.
GATA believes that 3,000 tons of gold have been sold short by these
speculators, even as yearly mine supply of gold in 1998 was only 2,529
tons. When, through our lawsuit, we are able to show how short in gold
even one major financial institution really is, other institutions will
buy gold in quantity, knowing the short position in gold is too large to
close without causing a substantial rise in the price of gold. Then the
gold collusion game will be over.
We also are revealing shareholder's frustration and anger toward Barrick
Gold, AngloGold and other gold mining companies whose habitual gold
hedging habits are destroying gold prices and their shareholders at the
same time. Barrick Gold (ABX) along with AngloGold are the most damaging
companies that bring devastation to the gold industry overall.
By the way, thank you for not hedging.
Your strategy has earned an unprecedented loyalty and respect from your
shareholders. If you really want to know our position about Gold & the
manipulation of Gold prices by Wall St. & Central Banks please visit
these web sites!
I look forward to your response at your earliest convenience.