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Interviewed by MineWeb, Sprott scorns paper silver market
2:21p ET Tuesday, December 6, 2011
Dear Friend of GATA and Gold (and Silver):
MineWeb's Geoff Candy today gets Sprott Asset Management CEO Eric Sprott to elaborate on his proposal that silver miners start treating their product as cash, the money it once was universally recognized as being. Sprott also comments on market manipulation.
He tells MineWeb: "I'm very frustrated by what's going on in the paper silver market. I just find it unbelievable that you can have silver go down $6 in 13 minutes one time when the markets weren't really open and then you get four margin rate increases the next week -- four. It smells like a setup to me."
Sprott also cites evidence that as much dollar demand is going into silver as gold.
MineWeb's interview with Sprott is headlined "Sprott Frustrated with Hostage-Taking Paper Silver Market" and you can find it here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Golden Phoenix Completes Operating Agreement
for Santa Rosa Gold Mine in Panama
Golden Phoenix Minerals Inc. (GPXM) has entered a joint venture operating agreement with Silver Global S.A., a Panamanian corporation, governing the operational and management aspects of their new joint venture company, Golden Phoenix Panama S.A., a Panamanian corporation formed to hold and operate the Santa Rosa gold mine in Canazas, Panama, and explore the mine's adjacent property.
Golden Phoenix will be manager of the joint venture company. Silver Global will handle all social programs, political and community relations, and human resource matters for the joint venture company in Panama. Golden Phoenix and Silver Global also have agreed to work together on all future acquisitions within Panama and to bring such new opportunities to the joint venture company.
Golden Phoenix will be earning in to a 60 percent interest (and potentially an 80 percent interest) in the Santa Rosa mine. Upon signing the joint venture agreement and completing the corresponding acquisition payment, Golden Phoenix will earn an initial 15 percent interest in the joint venture company.
Tom Klein, CEO of Golden Phoenix, says the agreement "creates a solid foundation for the development and planned re-opening of Mina Santa Rosa."
For Golden Phoenix's full statement on the joint venture operating agreement, please visit:
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