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Central banks have lost their battle against gold, Sprott tells King World News
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:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Private Placement Offering for Silver Phoenix Resources Inc.
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:
For more information about the River Jordan Property, please visit:
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World Resource Investment Conference
Sunday and Monday, June 6 and 7, 2010
Vancouver Convention Centre
Vancouver, British Columbia, Canada
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