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Zero Hedge: How much of supposed U.S. gold reserves are real?
1:22a ET Thursday, April 1, 2010
Dear Friend of GATA and Gold (and Silver):
Tyler Durdan, aka Dan Ivandjiiski, the hero of Zero (Hedge), muses tonight about the lying and obfuscation about gold reserves on both sides of the Atlantic. The most relevant question in the gold world now, Durdan writes, may be "just how much of the alleged U.S. gold holdings of 8,133.5 tonnes is actually real." The Zero Hedge commentary is headlined "UK Treasury Relases FOIA On Gordon Brown's 1998 Gold Sale, Catches Tony Blair Lying, Questions US Treasury's Good Delivery Standards" and you can find it at Zero Hedge here:
Or try this abbreviated link:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Preliminary Feasibility Study Completed for Seabridge Gold's KSM Project
Study Reports Reserves of 30.2 Million Oz. Gold, 7 Billion Lbs. Copper,
133 Million Oz Silver, 210 Million Lbs. Molybdenum
Base Case Life of Mine Cash Operating Costs Estimated at $144/oz. Gold Produced
(Net of Base Metal Credits)
Toronto -- Seabridge Gold Inc. has announced results from a National Instrument 43-101 compliant preliminary feasibility study of its 100-percent owned KSM project in northern British Columbia, Canada. The study was prepared by Wardrop, a Tetra Tech company, a major international engineering and consulting firm.
Seabridge President and CEO Rudi Fronk says, "The study confirms that the KSM project now hosts the largest gold reserve in Canada and one of the largest in the world. KSM is projected to provide an extraordinary mine life of more than 35 years with estimated cash operating costs well below the current average of the major gold producers. Estimated capital costs are in line with those of comparable, large-scale, undeveloped gold-copper projects and KSM has the advantage of being located in a low-risk jurisdiction."
For the complete Seabridge Gold statement:
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Prophecy Resource Corp. Appoints Rob McEwen to Advisory Board
Prophecy Resource Corp. (TSX.V: PCY, OTC: PCYRF) is pleased to announce the appointment of Rob McEwen to the company's Advisory Board. McEwen is a leading Canadian mining industry entrepreneur. He is the chairman and CEO of U.S. Gold Corp. and Minera Andes Inc. McEwen was the founder and former chairman and CEO of Goldcorp Inc., whose Red Lake Mine in northwestern Ontario, Canada, is considered to be the richest gold mine in the world. During his tenure at Goldcorp, McEwen transformed the company from a collection of small companies into a mining powerhouse, growing its market capitalization from $50 million to approximately $8 billion.
For Prophecy Resource Corp.'s complete statement: