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Gordon Long: Gold swaps signal the road map ahead
11:27a ET Friday, July 23, 2010
Dear Friend of GATA and Gold:
Gordon T. Long, editor of the Tipping Points letter, examines the mysterious gold swaps recently undertaken by the Bank for International Settlements and speculates that they are steps toward a new international reserve currency partially backed by gold. Whether Long is right or wrong, his commentary is a reminder that central banking continues to seek to run the world by stealth and with contempt for democracy, the major central banks all having seats on the BIS board and all failing to provide an explanation of what's going on. In this the central bankers can rely on the absolute lack of curiosity of respectable gold market analysts and financial journalists, who either fail to put critical (or any) questions to central bankers or settle for refusals to answer.
Long's commentary is headlined "Sultans of Swap: Gold Swaps Signal the Road Map Ahead" and you can find it at the Tipping Points Internet site here:
http://home.comcast.net/~lcmgroupe/2010/Article-Sultans_of_Swap-Gold_Swa...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Sona Resources Expects Positive Cash Flow from Blackdome,
Plans Aggressive Exploration of Elizabeth Gold Property
On May 18, 2010, Sona Resources Corp. (TSXV: SYS, Frankfurt: QS7) announced the release of a preliminary economic assessment for gold production at its flagship Blackdome and Elizabeth properties in British Columbia.
Sona Executive Chairman Nick Ferris says: "We view this as a baseline scenario for gold production. The project is highly sensitive to the price of gold. A conservative valuation of gold at $1,093 per ounce would result in a pre-tax cash flow of $54 million. The assessment indicates that underground mining at the two sites would recover 183,600 ounces of gold and 62,500 ounces of silver. Permitting and infrastructure are already in place for processing ore at the Blackdome mill, with a 200-tonne per day throughput over an eight-year mine life. Our near-term goal is to continue aggressive exploration at Elizabeth and develop a million-plus-ounce gold resource, commencing production in 2013."
For complete information on Sona Resources Corp. please visit: www.SonaResources.com
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New Orleans Investment Conference
Wednesday-Saturday, October 27-30, 2010
Hilton New Orleans Riverside Hotel
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Prophecy to Become Coal Producer This Year
with 1.5 Billion Tonnes of Resource
Prophecy Resource Corp. (TSX.V: PCY) announced on May 11 that it has entered into a mine services agreement with Leighton Asia Ltd. to begin coal production this year. Production will begin with a 250,000-tonne starter pit as planned in August, with production advancing to 2 million tonnes per year in 2011. Prophecy is fully funded to production and its management team includes John Morganti, Arnold Armstrong, and Rob McEwen.
For Prophecy's complete press release about its production plans, please visit:
http://www.prophecyresource.com/news_2010_may11.php