Addison Wiggin: The golden shell games of ETFs

Section:

9:30p ET Friday, July 23, 2010

Dear Friend of GATA and Gold:

Addison Wiggin of The Daily Reckoning this week warned investors against exchange-traded funds trading in gold because they may not really control the metal they claim to have. He mentions GATA along the way. Wiggin's commentary is headlined "Golden Shell Games" and you can find it at The Daily Reckoning here:

http://dailyreckoning.com/golden-shell-games/

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



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Sona Resources Expects Positive Cash Flow from Blackdome,
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On May 18, 2010, Sona Resources Corp. (TSXV: SYS, Frankfurt: QS7) announced the release of a preliminary economic assessment for gold production at its flagship Blackdome and Elizabeth properties in British Columbia.

Sona Executive Chairman Nick Ferris says: "We view this as a baseline scenario for gold production. The project is highly sensitive to the price of gold. A conservative valuation of gold at $1,093 per ounce would result in a pre-tax cash flow of $54 million. The assessment indicates that underground mining at the two sites would recover 183,600 ounces of gold and 62,500 ounces of silver. Permitting and infrastructure are already in place for processing ore at the Blackdome mill, with a 200-tonne per day throughput over an eight-year mine life. Our near-term goal is to continue aggressive exploration at Elizabeth and develop a million-plus-ounce gold resource, commencing production in 2013."

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