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Another version of the 'stump speech' on gold price suppression
10p BST Tuesday, October 1, 2011
Dear Friend of GATA and Gold:
The third or fourth incarnation of what has become your secretary/treasurer's "stump speech" on gold price suppression was prepared yesterday for a dinner of financial people in London that may have been most notable for one fund manager's disparagement of GATA's work. Why are we complaining about manipulation of the gold market, he asked, when everyone knows that governments these days are manipulating all markets?
Hinde Capital CEO Ben Davies, who was in the audience, quickly interjected that such manipulation raises a moral question, but that disparaging fund manager didn't seem to be having any of it. He seemed to figure that it was simply his job to try to make money for his clients whatever the circumstances facing him.
No one could criticize him for upholding his obligation to his clients. But a prominent financial journalist was also present at the dinner, and it might be shocking news to her publication's readers that governments are now manipulating all markets, including the gold market. For despite many importunings her publication has yet to report that sort of thing.
Well, maybe someday.
If you've followed GATA for a while you'll already have seen most of what's in the latest version of the "stump speech," though it has been updated to reflect developments of recent weeks. It is headlined "Gold Price Suppression Purposes and Proofs" and has been posted in the GATA "Documentation" archive here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Sona Drills 85.4g Gold/Ton Over 4 Metres at Elizabeth Gold Deposit,
Extending the Mineralization of the Southwest Vein on the Property
Company Press Release, October 27, 2010
VANCOUVER, British Columbia -- Sona Resources Corp. reports on five drillling holes in the third round of assay results from the recently completed drill program at its 100 percent-owned Elizabeth Gold Deposit Property in the Lillooet Mining District of southern British Columbia. Highlights from the diamond drilling include:
-- Hole E10-66 intersected 17.4g gold/ton over 1.54 metres.
-- Hole E10-67 intersected 96.4g gold/ton over 2.5 metres, including one assay interval of 383g of gold/ton over 0.5 metres.
-- Hole E10-69 intersected 85.4g gold/ton over 4.03 metres, including one assay interval of 230g gold/ton over 1 metre.
Four drill holes, E10-66 to E10-69, targeted the southwestern end of the Southwest Vein, and three of the holes have expanded the mineralized zone in that direction. The Southwest Vein gold mineralization has now been intersected over a strike length of 325 metres, with the deepest hole drilled less than 200 metres from surface.
"The assay results from the Southwest Zone quartz vein continue to be extremely positive," says John P. Thompson, Sona's president and CEO. "We are expanding the Southwest Vein, and this high-grade gold mineralization remains wide open down dip and along strike to the southwest."
For the company's full press release, please visit:
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Prophecy Platinum Drills 120.9 Meters
Grading 1.26 g/t PGM+Au at Yukon Wellgreen Project
Company Press Release
Monday, September 26, 2011
VANCOUVER, British Columbia, Canada -- Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) has announced the drill results received from its 2011 drilling Wellgreen platinum group elements, nickel, and copper project in the Yukon Territory.
Borehole WS11-188 encountered 457 meters of mineralization grading 0.47% nickel equivalent (including 0.72 grams per ton platinum, paladium, and gold) from surface to the footwall contact. Within this larger swath of mineralization, the hole encountered a high-grade section of 17.8 meters of 3.14 grams per ton platinum, palladium, and gold, 1.03% nickel, and 0.74% copper (1.77% nickel equivalent).
The hole was drilled completely outside of current resource boundaries, between the East Zone resource and the West Zone resource that was reported in the company's press release no July 14, 2011.
The high-grade intercept located between the two resources not only demonstrates that the East and West Zone resource form a single, geologically contiguous body but also indicates that the higher-grade material in the East Zone continues to the west and at depth at Wellgreen.
For drill result tables and maps, please see the company's full press release here: