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Metals more bullish than COT data, Butler tells King World News
12:35p ET Saturday, June 19, 2010
Dear Friend of GATA and Gold (and Silver):
Odds favor a big move up in silver, metals market analyst Ted Butler tells Eric King of King World News in their weekly interview. While the latest commitment of traders reports in gold and silver on the New York Commodity Exchange are slightly less bullish, Butler said, it may be best to ignore them, given background developments in the markets. Rapid turnover in Comex silver inventories suggests a very tight silver market, Butler adds, making him very excited and encouraged about silver's prospects. Butler also expresses dismay that the U.S. Commodity Futures Trading Commission lately has been so silent about its supposed review of the precious metals markets. You can find the interview at the King World News Internet site here:
http://www.kingworldnews.com/kingworldnews/Broadcast_Gold+/Entries/2010/...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Prophecy to Become Coal Producer This Year
with 1.5 Billion Tonnes of Resource
Prophecy Resource Corp. (TSX.V: PCY) announced on May 11 that it has entered into a mine services agreement with Leighton Asia Ltd. to begin coal production this year. Production will begin with a 250,000-tonne starter pit as planned in August, with production advancing to 2 million tonnes per year in 2011. Prophecy is fully funded to production and its management team includes John Morganti, Arnold Armstrong, and Rob McEwen.
For Prophecy's complete press release about its production plans, please visit:
http://www.prophecyresource.com/news_2010_may11.php
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