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China, the gorilla in the Third Gold War
8:19p ET Tuesday, May 4, 2010
Dear Friend of GATA and Gold:
MineWeb's Lawrence Williams tonight describes a fascinating new issue of Paul Mylchreest's occasional financial letter, the Thunder Road Report, which explains what Mylchreest calls the "Third Gold War."
Williams reports:
"Mylchreest reckons we are now in the 'Third Gold War' since the Second World War and this is being waged between the United States in conjunction with other Western countries/institutions, notably the International Monetary Fund, and various opposing sectors worldwide. In his contention, the United States and its allies lost the first of these 'gold wars' to the French (then under De Gaulle) and the second to the Middle East, helped significantly by the then-pro-gold stance and purchasing power of the German Deutsche Bank.
"This latest gold war has been/is being fought covertly. 'High-profile sales of physical gold have, for the most part, been replaced by sales of 'paper gold' in the form of futures, OTC options, and unallocated gold, etc.,' asserts Mylchreest. But this time he reckons that the veil has been lifted and the whole charade is beginning to unravel. Instead of France or Arab nations, the opponent this time is China -- the 800-pound gorilla -- potentially an even more formidable opponent, with a huge treasury of trillions of dollars with which to back its moves."
Williams' report is headlined "China -- the Gorilla in the Third Gold War" and you can find it at MineWeb here:
http://www.mineweb.co.za/mineweb/view/mineweb/en/page72068?oid=103871&sn...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Prophecy Resource Corp. Appoints Rob McEwen to Advisory Board
Prophecy Resource Corp. (TSX.V: PCY, OTC: PCYRF) is pleased to announce the appointment of Rob McEwen to the company's Advisory Board. McEwen is a leading Canadian mining industry entrepreneur. He is the chairman and CEO of U.S. Gold Corp. and Minera Andes Inc. McEwen was the founder and former chairman and CEO of Goldcorp Inc., whose Red Lake Mine in northwestern Ontario, Canada, is considered to be the richest gold mine in the world. During his tenure at Goldcorp, McEwen transformed the company from a collection of small companies into a mining powerhouse, growing its market capitalization from $50 million to approximately $8 billion.
For Prophecy Resource Corp.'s complete statement:
http://www.prophecyresource.com/news_2010_mar11b.php
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Preliminary Feasibility Study Completed for Seabridge Gold's KSM Project
Study Reports Reserves of 30.2 Million Oz. Gold, 7 Billion Lbs. Copper,
133 Million Oz Silver, 210 Million Lbs. Molybdenum
Base Case Life of Mine Cash Operating Costs Estimated at $144/oz. Gold Produced
(Net of Base Metal Credits)
Toronto -- Seabridge Gold Inc. has announced results from a National Instrument 43-101 compliant preliminary feasibility study of its 100-percent owned KSM project in northern British Columbia, Canada. The study was prepared by Wardrop, a Tetra Tech company, a major international engineering and consulting firm.
Seabridge President and CEO Rudi Fronk says, "The study confirms that the KSM project now hosts the largest gold reserve in Canada and one of the largest in the world. KSM is projected to provide an extraordinary mine life of more than 35 years with estimated cash operating costs well below the current average of the major gold producers. Estimated capital costs are in line with those of comparable, large-scale, undeveloped gold-copper projects and KSM has the advantage of being located in a low-risk jurisdiction."
For the complete Seabridge Gold statement:
http://www.seabridgegold.net/readmore.php?newsid=283
