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Central banks have lost their battle against gold, Sprott tells King World News

Section: Daily Dispatches

11:46p ET Saturday, May 15, 2010

Dear Friend of GATA and Gold:

Interviewed for 10 minutes today by Eric King of King World News, Sprott Asset Management CEO Eric Sprott remarks that the stock market's recent thousand-point slip signals a bear market ahead; that Europe's trillion-euro bailout couldn't be more gold-friendly; that debt isn't producing much economic growth anymore; that people are looking at gold much differently over the last two months, realizing they have to get some amid the financial lunacy of governments; that central banks have lost their battle against gold; that many gold stocks are very undervalued as gold mining profits rise sharply; and that eventually currencies will be backed by gold again. You can listen to the interview at the King World News Internet site here:

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/5/15_E...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.



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Private Placement Offering for Silver Phoenix Resources Inc.

Silver Phoenix Resources Inc. [CNSX: SP] has announced a non-brokered private placement offering to raise up to $2 million by issuance of up to 4 million flow-through units at a price of $0.50 per unit. Non-flow-through common shares are being offered on the same terms to interested subscribers.

Each flow-through unit consists of one common share in the capital of the corporation (a "flow-through share") and half of one non-flow-through common share purchase warrant (a "warrant"). Each whole warrant shall entitle the holder to acquire one non-flow-through common share in the capital of the corporation (a "warrant share") until 5 p.m. Vancouver time on the date 24 months following the closing date (as defined herein) at a price of $0.70.

The proceeds raised from the offering will be used for general exploration and to drill the 100-percent-owned River Jordan Property. This historic property hosts the King Fissure [aka River Jordan] lead, zinc, and silver deposit.

Following a comprehensive field program in 1991, a structural re-interpretation of the complex folds hosting the King fissure deposit resulted in a major increase in potential mineralization to 20 million tonnes of 7.5 percent lead, 7.5 percent zinc, and 100 g/t silver [Laird and Clark, 1991]. The estimated tonnage of the light rare earth and niobium-bearing extrusive carbonatite unit is on the order of 33,750,000 tonnes, with no ore grade currently established. This historical estimate predates National Instrument 43-101 legislation.

Interested parties can contact:

William J. Murray, President and CEO
Silver Phoenix Resources Inc.
Box 134 / 4631 75th Ave. NE
Canoe, British Columbia, V0E 1K0 Canada
250-832-0336
bmurray@sunwave.net
www.silverphoenixresources.com

For more information about the River Jordan Property, please visit:

http://public.iwork.com/document/?a=p1047687515&d=River_Jordan_Property.key



Join GATA here:

World Resource Investment Conference
Sunday and Monday, June 6 and 7, 2010
Vancouver Convention Centre
Vancouver, British Columbia, Canada
http://www.cambridgehouse.ca/index.php/world-resource-investment-confere...

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http://gata.org/node/wallstreetjournal

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