Gold researcher Jansen skeptical about supposed China oil contract backed by gold


11:08a ET Thursday, September 14, 2017

Dear Friend of GATA and Gold:

In comments to The Daily Coin's Rory Hall this week, gold researcher Koos Jansen expresses great skepticism about the recent report by the Nikkei Asian Review --

-- asserting that China is planning to do its oil business in yuan convertible into gold at the Shanghai and Hong Kong exchanges.

Jansen doesn't see how oil contacts can be directly related to gold as China's gold market is currently structured, and he notes that traders selling oil to China already can be paid in yuan and use them to buy gold, if not necessarily in China itself.

Jansen's comments are headlined "China's Gold-Backed Oil Benchmark" and it's posted at The Daily Coin here:

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


NuLegacy Identifies New Gold Zone at Red Hill Property

Company Announcement
Wednesday, September 13, 2017

NuLegacy Gold Corp. reports that it has discovered another important gold zone on its 38-square-mile flagship Red Hill property in Nevada's Cortez gold-trend, one of the world's premier gold mining jurisdictions.

Hole VIO17-01, drilled into the "VIO" zone, which is over 4 kilometers east of the Iceberg gold deposits, returned 33.5 meters (110 feet) of 0.65 grams/tonne gold and 5.5 grams/tonne silver starting at 99.2 meters and includes 9.1 meters (30 feet) of 1.8 grams/tonne gold and 17.6 grams/tonne silver.

"The gold encountered in this drill intercept appears to be epithermal-style gold mineralization, an entirely different deposit type from that of our Carlin-style gold deposits," NuLegacy CEO James Anderson said. "This is an exciting new development for building potential gold resources at Red Hill."

... For the remainder of the announcement:

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 25-28, 2017
Hilton New Orleans Riverside Hotel, New Orleans, Louisiana

Mines and Money London
Business Design Centre
London, England, United Kingdom
Monday-Thursday, November 27-30, 2017

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