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Ronan Manly: Even its own auditor wonders if GLD really has the metal
9p ET Thursday, December 10, 2020
Dear Friend of GATA and Gold:
Bullion Star researcher Ronan Manly reports tonight that even the auditor for the exchange-traded fund GLD recently questioned whether the fund really held the gold it claimed to have.
Additionally, Manly reports, GLD's latest financial statements indicate that in the last year the fund claimed to be holding gold at the Bank of England -- presumably leased central bank gold -- for at least five months, though the fund's gold is supposed to be transferred promptly to the vaults of the fund's regular custodian, HSBC.
... Dispatch continues below ...
VanGold Has Cleared the Pinguico Shaft to Adit Level 7
at El Pinguico Silver and Gold Project in Mexico
Tuesday, December 8, 2020
VANCOUVER, British Columbia, Canada -- VanGold Mining Corp. announces that it has completed clearing the Pinguico shaft to adit Level 7 at its El Pinguico silver and gold project, located 7 kilometers south of Guanajuato, Mexico.
The company has cleared fallen rocks and debris to adit Level 7 to access this area of the El Pinguico mine. This shaft was one of three exterior shafts that were used historically at the mine prior to production, which ended in 1913.
VanGold Director Hernan Dorado Smith said: "The importance of having access to Level 7 from the Pinguico shaft cannot be overstated. This is the first time in decades that this area of the mine -- the highest-grade mine in the Guanajuato region when it was in production -- has been accessible for exploration and development. We are very excited about sampling the bottom of the underground stockpile to improve and verify our understanding of the overall grade of that material. We are equally excited to sample the remaining vein material left in support pillars at this location (including areas of the Colmillo Stope) when mining ceased in 1913." ...
... For the remainder of the announcement:
Impairing confidence in GLD's latest financial statements, Manly notes that the fund's chief financial officer approved them after only a day on the job, his predecessor having resigned just a day before the statements were due to be filed.
Manly's report is headlined "GLD 10-K Omits Bank of England Gold Holdings Data; GLD CFO Left 1 Day Before Financial Year-End" and it's posted at Bullion Star here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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