India said to plan gold policy reform for $19 billion sector

Section:



ADVERTISEMENT

Kenadyr Announces Partial Drill Results at the South Zone:
Intersects 40 Meters at 6.17 Grams of Gold per Ton

Company Announcement
Friday, May 25, 2017

VANCOUVER, British Columbia, Canada -- Kenadyr Mining (Holdings) Corp. (TSX Venture: KEN, OTCQB: KNDYF, Frankfurt: KM0) announces that drilling at the South Zone of Kenadyr's fully owned Borubai License in the Kyrgyz Republic has intersected widespread gold mineralization including 40 meters at 6.17 grams per ton.

The South Zone is directly adjacent to Zijin Mining Group Co. Ltd.'s Taldy Bulak Levoberejnyi ("TBL") Mine deposit, currently in production.

Initial drilling was designed to intersect an area drilled by the Soviets between 1970 and 1990 that intersected significant gold mineralization. The current drill hole provides support for the validity of the historic Soviet results and indicates that widespread gold mineralization may exist on Kenadyr's license directly adjacent to (within 100 meters of) the TBL mine.

The South Zone is open in three directions and to depth and there are strong indications that it connects to the TBL deposit. Core recovery is greater than 95 percent and all intervals have been assayed using fire assay methods at an internationally accredited laboratory (ALS Global). ...

For the remainder of the announcement:

http://kenadyr.com/kenadyr-announces-partial-drill-results-from-drill-ho...



By Shruti Srivastava and Swansy Afonso
Bloomberg News
Thursday, June 15, 2017

India, which vies with China as the top consumer of bullion, is working on new policies to improve transparency and help expand its $19 billion gold jewelry industry, according to people with knowledge of the matter.

The plans being worked out by the finance and commerce ministries along with industry groups should be finalized by the end of March, the people said, asking not to be identified because they aren't authorized to speak publicly. D.S. Malik, spokesman for the finance ministry, didn't answer calls to his cellphone, while a spokeswoman for the commerce ministry didn't reply to an email seeking comment.

The start of a spot bullion exchange, to make gold supply more transparent and help enforce purity standards, is under consideration, the people said. An import tax of 10 percent could also be reduced as the government seeks to eliminate smuggling, they said. The plans also include a dedicated bank for the jewelry industry, according to one of the people.

The overhaul of India's disorganized and fragmented gold jewelry industry is meant to bolster confidence among consumers, where the gifting of gold at weddings and festivals or its purchase as a store of value are deeply held traditions. Ensuring quality standards and allowing supply chains to be easily tracked are ways to enhance trust. The estimate for the size of the sector was given by the Mumbai-based India Bullion and Jewellers Association Ltd.

The measures could help underpin Indian demand, which is recovering after slumping to a seven-year low in 2016. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2017-06-15/india-said-to-plan-go...

* * *

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 25-28, 2017
Hilton New Orleans Riverside Hotel, New Orleans, Louisiana
http://neworleansconference.com/

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16