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Alasdair Macleod: The fallacy of economic growth
12:50p ET Monday, February 6, 2012
Dear Friend of GATA and Gold:
Economist and former banker Alasdair Macleod, who spoke at GATA's Gold Rush 2011 conference in London last year, argues in commentary published today that gross domestic product increasingly measures government intervention in an economy rather than actual production of useful goods and services. He makes a compelling case for restoring free markets, which is what GATA is largely about. Macleod's commentary is headlined "The Fallacy of Economic Growth" and it's posted at his Internet site, Finance and Economics, here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Golden Phoenix Receives Inferred Gold Resource Estimate
For Santa Rosa Mine in Panama: 669,000 Oz. Gold, 2.1 Million Oz. Silver
Company Press Release
January 3, 2012
Golden Phoenix Minerals Inc. (OTC: GPXM) reports that on behalf of Golden Phoenix Panama S.A., the joint venture entity that owns and operates the Santa Rosa gold mine in Panama, it has received from SRK Consulting (U.S.) an initial resource estimate for Mina Santa Rosa.
The Santa Rosa project is a volcanic-hosted epithermal gold-silver deposit previously operated as an open pit-heap leach operation. Production ceased in 1999 in part because of low gold prices.
SRK Consulting reports an in-situ inferred resource at the former Santa Rosa and ADLM pits totaling 23.1 million metric tonnes at 0.90 grams/tonne gold, for a contained 669,000 ounces of gold at a 0.30 g/t gold cutoff. The resource also contains an average grade of 2.87 g/t silver for a contained 2.1 million ounces of silver.
John Bolanos, Golden Phoenix's vice president of exploration, remarks: "In addition to SRK's inferred resource estimate of 669,000 contained ounces of
gold, the Santa Rosa project has an additional unspecified volume of mineralized material on former heap leach pads throughout the property. We expect to begin assessing this additional material in the near future."
For the company's full statement, including a table detailing the resources at Santa Rose, please visit:
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