Zero Hedge covers pervasive market manipulation every day
5:27p ET Monday, September 13, 2010
Dear Friend of GATA and Gold:
Zero Hedge continues to do a speedy and brilliant job calling attention to the manipulation that afflicts most major markets, not just gold and silver.
Today Zero Hedge notes a million-dollar fine imposed on a minor investment house by the Financial Industry Regulatory Authority for manipulation undertaken through high-frequency trading. Of course it would be pretty interesting if JPMorganChase, Goldman Sachs, and a few major investment houses were scrutinized half as seriously, but surely this fine is intended to give only the illusion of action so the big manipulators can keep at it. Zero Hedge's commentary on it is headlined "First HFT Casualty As Finra Fines Trillium $1 Million For Quote Stuffing And General Market Manipulation (Again)" and you can find it here:
Or try this abbreviated link:
There's other timely market manipulation information at Zero Hedge today. Indeed, there's more real market news at that Internet site each day than at all the mainstream financial news organization sites put together.
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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Wednesday-Saturday, October 27-30, 2010
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Sona Resources Expects Positive Cash Flow from Blackdome,
Plans Aggressive Exploration of Elizabeth Gold Property
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."
For complete information on Sona Resources Corp. please visit: www.SonaResources.com