Russian banks aim to sell gold to China as VTB, Sberbank expand

Section:

By Yuliya Fedorinova
Bloomberg News
Thursday, September 22, 2016

Russia's gold sales in China are set to expand as VTB Capital boosts sales and Sberbank PJSC prepares to enter the market, chasing demand in the world's biggest consumer of bullion.

Sberbank CIB plans to register on the Shanghai Gold Exchange and eventually to sell up to 100 tons (3.2 million ounces) a year, according to an e-mail from the investment arm of Russia's largest bank. VTB Capital, a unit of the second-biggest lender, is targeting sales of as much as 20 metric tons of gold in China in 2017, Sergey Nenashev, the bank's head of precious metals, said by e-mail. Sales may reach a rate of 100 tons a year near the end of 2018, he said.

Russian banks, which act as intermediaries between the country's gold producers and the market, aim to tap into Asian growth. Rising incomes and few investment options in China are driving demand for gold jewelry, bars, and coins in China. In July, Shanghai Gold Exchange volumes almost doubled from a year earlier to 1.7 trillion yuan ($255 billion), figures compiled by the bourse show. ...

... For the remainder of the report:

http://www.bloomberg.com/news/articles/2016-09-22/russia-boosts-gold-sal...



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Gold Standard Continues to Expand North Dark Star High-Grade Deposit

Company Announcement
Wednesday, September 14, 2016

VANCOUVER, British Columbia, Canada -- Gold Standard Ventures Corp. (TSXV: GSV; NYSE MKT:GSV) today announced assay results from two holes, DS16-21 and DS16-04, at the recently discovered North Dark Star oxide gold deposit on its fully-owned and controlled Railroad-Pinion Project in Nevada’s Carlin Trend. Results from DS16-21 have increased the width of the deposit and, more importantly, have confirmed that higher-grade oxide mineralization projects up-dip to more shallow depths to the east of DS16-08.

The primary objective of this year's drill program at North Dark Star was to expand the high-grade zone discovered in core hole DS15-13 (15.4 meters of 1.85 gold grams per tonne and 97 meters of 1.61 gold grams per tonne) at the end of last year's drill program. ...

...For the remainder of the announcement:

https://goldstandardv.com/news/2016/expansion-gold-standards-north-dark-...



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