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Jim Rickards: Race between gold and new paper currency
4:46p ET Monday, October 11, 2010
Dear Friend of GATA and gold:
Eric King of King World News has gotten another interview with market intelligence collector Jim Rickards of Omnis Inc. and a brief excerpt of it has been posted at the King World News Internet site blog. Rickards remarks that there are only two options for central banks in their rush to devalue their currencies -- to devalue against gold or against a new paper currency of their creation. They'd prefer the latter, Rickards says, but the market seems to prefer gold. The excerpt is headlined "Jim Rickards: Race Between Gold and New Paper Currency" and you can find it at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/10/11_J...
Or try this abbreviated link:
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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Thursday-Friday, October 21-22, 2010
Davenport Hotel, Spokane, Washington
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New Orleans Investment Conference
Wednesday-Saturday, October 27-30, 2010
Hilton New Orleans Riverside Hotel
http://www.neworleansconference.com/redirect.php?page=index.html&source_...
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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
