Jeff Nielson: Collapse of official gold sales heralds much higher price


12:52p ET Saturday, June 19, 2010

Dear Friend of GATA and Gold:

Jeff Nielson of Bullion Bulls Canada examines the greatly diminished volume of official gold sales -- falling from 500 tonnes annually via the European central banks to only about 150 tonnes remaining to be sold by the International Monetary Fund -- and concludes that a major revaluation of gold is likely. Nielson's commentary is headlined "The Real Truth about the IMF's Gold Sale" and you can find it at Bullion Bulls Canada here:

Or try this abbreviated link:

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:

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