GATA files new gold records requests with State, Treasury, Fed, and FOMC
10p ET Tuesday, July 24, 2012
Dear Friend of GATA and Gold:
Through its lawyer, William J. Olson P.C. of Vienna, Virginia (http://www.lawandfreedom.com/), GATA today filed federal Freedom of Information Act requests with the U.S. State Department, Treasury Department, Federal Reserve Board, and Federal Open Market Committee, greatly expanding upon GATA's 2009 FOIA request to the Fed, which sought access to records involving gold swaps.
The 2009 FOIA action elicited a revealing admission from the Fed that it has secret and highly sensitive gold swap agreements with foreign banks -- an admission that the Fed, despite its many previous denials, is indeed surreptitiously active in the gold market. That FOIA action led to GATA's lawsuit against the Fed in U.S. District Court for the District of Columbia, which last year produced both a judicial finding that the Fed has many gold-related secrets and a verdict enough in GATA's favor that the Fed was required to pay court costs to GATA:
GATA's new FOIA requests seek access not just to records involving gold swaps but essentially to all records held by the targeted agencies that involve gold -- for example, in the case of the State Department, records of all international agreements involving the United States and gold.
We're hopeful that these FOIA requests will liberate material as telling as the confession the Fed was forced to make about secret gold swap agreements in GATA's first FOIA case. But of course contending with the likely resistance of the targeted agencies and then taking them to federal court will involve much effort and expense. If you're inclined to help, information about donating to GATA is here:
GATA's new FOIA request to the State Department is here:
GATA's new FOIA request to the Treasury Department is here:
GATA's new FOIA request to the Federal Reserve Board is here:
And GATA's new FOIA request to the Federal Open Market Committee is here:
GATA this week received inquiries from two more reporters for major news agencies seeking information about the rigging of the gold market, inquiries that seem to have been prompted by your secretary/treasurer's appearance on CNBC Asia last month (http://www.gata.org/node/11490) and the LIBOR interest rate rigging scandal. We gave the reporters the basic background about gold market rigging (http://www.gata.org/node/11507) and suggested specific questions they might put to major central banks, questions that are almost certain to prompt refusals to answer and thus to confirm that the central banks are surreptitiously active in the gold market.
We're increasingly hopeful that something will come of this terribly tentative if laughably obvious journalism over the next few years.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Sona Discovers Potential High-Grade Gold Mineralization
at Blackdome in British Columbia -- 13.6g over 1.5 Meters
From a Company Press Release
November 22, 2011
VANCOUVER, British Columbia -- With its latest surface diamond drilling program at its 100-percent-owned, formerly producing Blackdome gold mine in southern British Columbia, Sona Resources Corp. has discovered a potentially high-grade gold-mineralized area, with one hole intersecting 13.6 grams of gold in 1.5 meters of core drilling.
"We intersected a promising new mineralized zone, and we feel optimistic about the assay results," says Sona's president and CEO, John P. Thompson. "We have undertaken an aggressive exploration program that has tested a number of target zones. Our discovery of this new gold-bearing structure is significant, and it represents a positive development for the company."
Sona aims to bring its permitted Blackdome mill back into production over the next year and a half, at a rate of 200 tonnes per day, with feed from the formerly producing Blackdome mine and the nearby Elizabeth gold deposit property. A positive preliminary economic assessment by Micon International Ltd., based on a gold price of $950 per ounce over eight years, has estimated a cash cost of $208 per tonne milled, or $686 per gold ounce recovered.
For the company's complete press release, please visit:
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Prophecy Platinum Announces Wellgreen Preliminary Economic Assessment:
38% Pre-Tax IRR, $3.0 Billion NPV, and a 37-Year Mine Life
Company Press Release
VANCOUVER, British Columbia, Canada -- Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) reports the results of an independent NI 43-101-compliant preliminary economic assessment for its fully owned Wellgreen nickel-copper-platinum group metals project in the Yukon Territory.
The independent assessment, prepared by Tetra Tech, evaluated a base case of an open-pit mine (with a mining rate of 111,500 tonnes per day), an on-site concentrator (with a milling rate of 32,000 tonnes per day), and an initial capital cost of $863 million. The project is expected to produce (in concentrate) 1.959 billion pounds of nickel, 2.058 billion pounds of copper, and 7.119 million ounces of platinum, palladium, and gold during a mine life of 37 years with an average strip ratio of 2.57.
The financial highlights of the preliminary economic assessment, shown in U.S. dollars, are as follows:
Payback period: 3.55 years
Initial capital investment: $863 million
IRR pre-tax (100% equity): 38 percent
NPV pre-tax (8% discount): $3 billion
Mine life: 37 years
Total mill feed: 405.3 million tonnes
Mill throughput: 32,000 tonnes per day
Prophecy Chairman John Lee says: "We are pleased with the preliminary economic assessment results. The numbers indicate that Wellgreen is one of most exciting mineral projects in the Yukon. The company is drilling to upgrade and expand the resource base. The infrastructure is excellent as the project is only 1,400 meters in altitude and 14 kilometers from the paved Alaska Highway, which leads to the Haines deep seaport. Discussions are under way with support from local stakeholders regarding permitting and logistics."
For the complete press release, please visit: