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Metals' takedowns don't undo Western insolvency, Turk tells King World News
11:10p ET Monday, December 22, 2011
Dear Friend of GATA and Gold:
GoldMoney founder and GATA consultant James Turk today gives King World News his forecast for the precious metals for 2012. Turk says the contrived takedowns of the precious metals haven't changed anything about the insolvency of both Western Europe and the United States, and he still thinks the metals could rise strongly in the early part of the new year. An excerpt of Turk's interview is posted at the King World News blog 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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Sonora Aims to Follow First Majestic's Success
With Silver Mining Exploration in Mexico
Sonora Resources (OTCBB: SURE) is a silver mining exploration company focused on the development of prospective opportunities in Mexico. The company president and CEO is Juan Miguel Rios Gutierrez, who helped build First Majestic Silver Corp., which began trading for pennies and today is at more than $16 per share. Gutierrez was the fourth person to join First Majestic Silver, originally as general manager, then manager for new business initiatives and strategic planning. He left First Majestic Silver to work with Sonora Resources and yet maintains strong contacts with First Majestic. In fact, First Majestic is a large shareholder in Sonora and has a joint venture with the company.
For more information about Sonora Resources, please visit: