Michael Kosares: For nine years gold has yielded 8.5% annually after inflation

Section:

4p ET Friday, December 2, 2011

Dear Friend of GATA and Gold (and Silver):

Michael Kosares of Centennial Precious Metals in Denver today charts gold's performance for the last decade in ordinary percentage terms and in terms of a "real rate of return," when inflation is deducted. The "real rate of return," Kosares writes, "has been the stuff of portfolio planners' dreams. Even when you take into account the two off-years of 2004 and 2008, the average real rate of return over the nine-year period was a stellar 8.5 percent. If I were to use a single word to define gold's performance over the past decade, it would be 'stalwart.' The other word that comes to mind is 'consistent.' These two words are near and dear to the heart of those who wish to hold on to their hard-earned wealth."

Kosares' report is titled "Saving Gold" and is posted at Centennial's Internet site, USAGold, here:

http://www.usagold.com/amk/savinggold.html

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



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Golden Phoenix Completes Operating Agreement
for Santa Rosa Gold Mine in Panama

Golden Phoenix Minerals Inc. (GPXM) has entered a joint venture operating agreement with Silver Global S.A., a Panamanian corporation, governing the operational and management aspects of their new joint venture company, Golden Phoenix Panama S.A., a Panamanian corporation formed to hold and operate the Santa Rosa gold mine in Canazas, Panama, and explore the mine's adjacent property.

Golden Phoenix will be manager of the joint venture company. Silver Global will handle all social programs, political and community relations, and human resource matters for the joint venture company in Panama. Golden Phoenix and Silver Global also have agreed to work together on all future acquisitions within Panama and to bring such new opportunities to the joint venture company.

Golden Phoenix will be earning in to a 60 percent interest (and potentially an 80 percent interest) in the Santa Rosa mine. Upon signing the joint venture agreement and completing the corresponding acquisition payment, Golden Phoenix will earn an initial 15 percent interest in the joint venture company.

Tom Klein, CEO of Golden Phoenix, says the agreement "creates a solid foundation for the development and planned re-opening of Mina Santa Rosa."

For Golden Phoenix's full statement on the joint venture operating agreement, please visit:

http://goldenphoenix.us/press-release/golden-phoenix-completes-joint-ven...



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