You are here
Daily Dispatches
Gwalia''s lenders and hedging banks had early knowledge of company''s collapse
Submitted by cpowell on Mon, 2004-09-06 03:00 Section: Daily Dispatches10:57a ET Monday, September 1, 2004
Dear Friend of GATA and Gold:
There's a big gold industry conference in
Shanghai, and Barrick Gold's chief financial
officer, Jamie Sokalsky, is spreading GATA's
message there.
At least it seems so from the Reuters dispatch
from the conference, which has an interview
with Sokalsky that is appended.
Sokalsky says:
* Barrick's gold price forecast is higher even
GATA''s enemies can snipe but they''ll never, ever argue the EVIDENCE
Submitted by cpowell on Mon, 2004-09-06 03:00 Section: Daily DispatchesGwalia 'knew' of gold woes
By John Paceas
The West Australian, Perth
Tuesday, September 7, 2004
http://www.thewest.com.au/20040907/business/tw-business-home-
sto129269.html
Failed miner Sons of Gwalia last night said it had
received a preliminary report on its gold resources
more than a month before it was forced into
More hedge book-induced mining bankruptcies predicted by Newmont''s Lassonde
Submitted by cpowell on Sun, 2004-09-05 03:00 Section: Daily Dispatches'Less Gold to be Sold Than Planned'
IAfrica.com
Saturday, September 4, 2004
http://business.iafrica.com/news/345466.htm
European central banks may sell as little as 250
tons of gold per annum, instead of the maximum
of 500 tons per annum, as per the second
European Central Bank agreement, from 2004
through to 2009, London-based UBS analyst
Central banks may scale back plans for gold sales, analyst writes
Submitted by cpowell on Sat, 2004-09-04 03:00 Section: Daily DispatchesHedging strategy ambushes canny investors
By Stephen Bartholomeusz
The Age, Melbourne, Australia
September 4, 2004
http://www.theage.com.au/articles/2004/09/03/1093939146279.html?
oneclick=true
One of the perplexing questions generated by this
week's collapse of Sons of Gwalia is how so many
very smart investors could have got it so wrong.
Hedging strategy ambushes canny investors in Sons of Gwalia
Submitted by cpowell on Fri, 2004-09-03 03:00 Section: Daily Dispatches8p ET Thursday, September 2, 2004
Dear Friend of GATA and Gold:
The World Gold Council purports to be the
representative of the gold community but until
today it had had virtually nothing to say for three
months -- not a word about Sprott Asset
Management's report confirming the manipulation
of the gold price, not a word about the collapse of
Sons of Gwalia because of excessive hedging, not
Just when it is most needed, the World Gold Council proclaims its irrelevance
Submitted by cpowell on Thu, 2004-09-02 03:00 Section: Daily Dispatches12:36a ET Wednesday, September 1, 2004
Dear Friend of GATA and Gold:
James R. Cook, proprietor of GATA supporter
Investment Rarities in Minneapolis and longtime
sponsor of silver analyst Ted Butler's
commentaries, has published his own
commentary this week, substituting for Butler,
who is on vacation, and taking some credit
for Butler as the original illuminator of the
scam of precious metals leasing, by virtue of
James Cook: Ted Butler was first to expose the scam of precious metals leasing
Submitted by cpowell on Wed, 2004-09-01 03:00 Section: Daily Dispatches8:43p ET Tuesday, August 31, 2004
Dear Friend of GATA and Gold:
Here's still another news story about the
supposedly imminent start of the World
Gold Council's U.S. bullion fund, which
has been imminent for a year and a half
now.
Note particularly the assertion that the
World Gold Council said it is forbidden to
comment. Since when has the World Gold
Council commented on ANYTHING relevant to
Market analysts speculate about covering Gwalia''s gold hedges
Submitted by cpowell on Tue, 2004-08-31 03:00 Section: Daily Dispatches10:06p ET Monday, August 30, 2004
Dear Friend of GATA and Gold:
What could be nicer than a few autumn days in
Toronto?
(Who's the wiseguy who answered: A long,
leisurely retirement in Saint Maarten?)
Well, the path to a leisurely retirement in Saint
Maarten -- or anywhere else, for that matter --
may run through Toronto on Sunday and Monday,
October 3 and 4, when Cambridge House will
Is it gold or just paper? Only their bullion banker knows for sure
Submitted by cpowell on Tue, 2004-08-31 03:00 Section: Daily DispatchesSons Of Gwalia De-Hedging
Already Started, Analysts Say
By Gavin McGuire
Dow Jones Newswires
Monday, August 30, 2004
http://www.thebulliondesk.com/NewsProvider.aspx?NewsID=20975918
NEW YORK -- The voluntary fall into administration by
Australia's second-largest gold miner, Sons of Gwalia
Ltd., has prompted gold-market watchers to speculate
John Brimelow: Never mind gold''s price; look at volume -- and the Sprott report
Submitted by cpowell on Mon, 2004-08-30 03:00 Section: Daily DispatchesSons of Gwalia goes into administration
From the Australian Financial Review
Monday, August 30, 2004
http://afr.com/articles/2004/08/30/1093717888857.html
By the Australian Associated Press
Perth-based tantalum and gold company Sons of
Gwalia said today it had appointed voluntary
administrators after failing to get its
Pages
