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Home > A report from the Vancouver mining conference by GATA Chairman Bill Murphy

A report from the Vancouver mining conference by GATA Chairman Bill Murphy

Submitted by cpowell on Sun, 2002-06-09 03:00 Section: Daily Dispatches

9:15p ET Friday, June 7, 2002

Dear Friend of GATA and Gold:

The press release below from Central Fund
of Canada (CEF on the American Stock Exchange)
says the company is issuing 11.5 million
shares to purchase US$50 million in gold and
silver bullion. This is probably as good for
gold and silver as a mining company's closing
some hedges.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

TORONTO, June 6 (CNW) -- Central Fund of Canada
Ltd. of Calgary, Alberta, announced today that
it has entered into an agreement with a syndicate
of underwriters led by CIBC World Markets Inc.
under which the underwriters have agreed to buy
and sell to the public, in Canada and in the
United States under the multijurisdictional
disclosure system, 11,584,660 Class A Shares
of Central Fund.

The purchase price of U.S. $4.19 (Cdn.$6.43)
per Class A Share is expected to result in
proceeds of approximately U.S. $48.5 million
(Cdn.$74.5 million). Substantially all the net
proceeds of the offering have been committed
to purchase gold and silver bullion in a ratio
of approximately 50 ounces of silver for every
one fine ounce of gold, in keeping with the
investment policies established by the board
of directors of Central Fund, for settlement
at closing of the issue.

Closing is expected on or about June 13, 2002.

------------------------------------------

RECOMMENDED INTERNET SITES
FOR DAILY MONITORING OF GOLD
AND PRECIOUS METALS
NEWS AND ANALYSIS

Free sites:

a href=http://www.theminingweb.com/http://www.theminingweb.com//a [1]

a href=http://www.gold-eagle.com/http://www.gold-eagle.com//a [2]

a href=http://www.kitco.com/http://www.kitco.com//a [3]

a href=http://www.usagold.com/http://www.usagold.com//a [4]

a href=http://www.321gold.com/http://www.321gold.com//a [5]

a href=http://www.GoldSeek.com/http://www.GoldSeek.com//a [6]

Subscription site:

a href=http://www.lemetropolecafe.com/http://www.lemetropolecafe.com//a [7]

--------------------------------------------

COIN AND PRECIOUS METALS DEALERS
WHO HAVE SUPPORTED GATA
AND BEEN RECOMMENDED
BY OUR MEMBERS

Centennial Precious Metals
3033 East 1st Ave.
Suite 403
Denver, Colorado 80206
www.USAGold.com [8]
Michael Kosares, Proprietor
US (800) 869-5115
Canada 1-800-294-9462
European Union 00-800-2760-2760
Australia 0011-800-2760-2760
cpm@usagold.com [9]

Colorado Gold
222 South 5th St.
Montrose, Colorado 81401
www.ColoradoGold.com [10]
Don Stott, Proprietor
1-888-786-8822
Gold@gwe.net [11]

Investment Rarities Inc.
7850 Metro Parkway
Minneapolis, Minnesota 55425
a href=http://www.gloomdoom.comhttp://www.gloomdoom.com/a [12]
Greg Westgaard, Sales Manager
1-800-328-1860, Ext. 8889
gwestgaard@investmentrarities.com [13]

Lee Certified Coins
P.O. Box 1045
454 Daniel Webster Highway
Merrimack, New Hampshire 03054
www.certifiedcoins.com [14]
Ed Lee, Proprietor
1-800-835-6000
leecoins@aol.com [15]

Miles Frankl Ltd.
3601 Park Center Building
Suite 120
St. Louis Park, Minn. 55416
1-800-822-8080 / 952-929-1129
fax: 952-925-0143
www.milesfranklin.com [16]
Contacts: David Schectman,
Andy Schectman, and Bob Sichel

Resource Consultants Inc.
6139 South Rural Road
Suite 103
Tempe, Arizona 85283-2929
Pat Gorman, Proprietor
1-800-494-4149, 480-820-5877
Metalguys@aol.com [17]

Swiss America Trading Corp.
15018 North Tatum Blvd.
Phoenix, Arizona 85032
a href=http://www.buycoin.comhttp://www.buycoin.com/a [18]
Dr. Fred I. Goldstein, Senior Broker
1-800-BUY-COIN
figoldstein@buycoin.com [19]

----------------------------------------------

HOW TO HELP GATA

If you benefit from GATA's dispatches, please
consider making a financial contribution to
GATA. We welcome contributions as follows.

By check:

Gold Anti-Trust Action Committee Inc.
c/o Chris Powell, Secretary/Treasurer
7 Villa Louisa Road
Manchester, CT 06043-7541
USA

By credit card (MasterCard, Visa, and
Discover) over the Internet:

a href=http://www.gata.org/creditcard.htmlhttp://www.gata.org/creditcard.html/a [20]

By GoldMoney:

a href=http://www.GoldMoney.comhttp://www.GoldMoney.com/a [21]
Gold Anti-Trust Action Committee Inc.
Holding number 50-08-58-L

By E-Gold:

a href=http://www.e-gold.comhttp://www.e-gold.com/a [22]
Gold Anti-Trust Action Committee Inc.
Account number 110915

Donors of $750 or more will, upon request,
be sent a print of Alain Despert's colorful
painting symbolizing our cause, titled quot;GATA.quot;

GATA is a civil rights and educational
organization under the U.S. Internal Revenue
Code and contributions to it are tax-deductible
in the United States.

»
Source URL: https://gata.org/node/1474

Links
[1] http://www.theminingweb.com/http://www.theminingweb.com//a
[2] http://www.gold-eagle.com/http://www.gold-eagle.com//a
[3] http://www.kitco.com/http://www.kitco.com//a
[4] http://www.usagold.com/http://www.usagold.com//a
[5] http://www.321gold.com/http://www.321gold.com//a
[6] http://www.GoldSeek.com/http://www.GoldSeek.com//a
[7] http://www.lemetropolecafe.com/http://www.lemetropolecafe.com//a
[8] http://www.USAGold.com
[9] mailto:cpm@usagold.com
[10] http://www.ColoradoGold.com
[11] mailto:Gold@gwe.net
[12] http://www.gloomdoom.comhttp://www.gloomdoom.com/a
[13] mailto:gwestgaard@investmentrarities.com
[14] http://www.certifiedcoins.com
[15] mailto:leecoins@aol.com
[16] http://www.milesfranklin.com
[17] mailto:Metalguys@aol.com
[18] http://www.buycoin.comhttp://www.buycoin.com/a
[19] mailto:figoldstein@buycoin.com
[20] http://www.gata.org/creditcard.htmlhttp://www.gata.org/creditcard.html/a
[21] http://www.GoldMoney.comhttp://www.GoldMoney.com/a
[22] http://www.e-gold.comhttp://www.e-gold.com/a