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Alasdair Macleod: Central banks in deep trouble for their gold manipulation
5:40p ET Wednesday, August 18, 2010
Dear Friend of GATA and Gold:
In his latest commentary, published this week, economist and former banker Alasdair Macleod quotes GATA's Adrian Douglas in support of his forecast that the latest central bank gold price suppression scheme is "on the verge of the most spectacular failure." Macleod writes: "Here is a major banking crisis in the making, mainly as a result of the central banks' continual attempts to rig the market finally coming to a head. It is a time when the whole idea of a world monopolized by fiat currencies is losing credibility."
Macleod's commentary is headlined "Gold Manipulation: Central Banks Are Now in Deep Trouble" and you can find it at his Internet site, Finance and Economics, here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Prophecy to Become Coal Producer This Year
with 1.5 Billion Tonnes of Resource
Prophecy Resource Corp. (TSX.V: PCY) announced on May 11 that it has entered into a mine services agreement with Leighton Asia Ltd. to begin coal production this year. Production will begin with a 250,000-tonne starter pit as planned in August, with production advancing to 2 million tonnes per year in 2011. Prophecy is fully funded to production and its management team includes John Morganti, Arnold Armstrong, and Rob McEwen.
For Prophecy's complete press release about its production plans, please visit:
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Wednesday-Saturday, October 27-30, 2010
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Sona Resources Expects Positive Cash Flow from Blackdome,
Plans Aggressive Exploration of Elizabeth Gold Property
On May 18, 2010, Sona Resources Corp. (TSXV: SYS, Frankfurt: QS7) announced the release of a preliminary economic assessment for gold production at its flagship Blackdome and Elizabeth properties in British Columbia.
Sona Executive Chairman Nick Ferris says: "We view this as a baseline scenario for gold production. The project is highly sensitive to the price of gold. A conservative valuation of gold at $1,093 per ounce would result in a pre-tax cash flow of $54 million. The assessment indicates that underground mining at the two sites would recover 183,600 ounces of gold and 62,500 ounces of silver. Permitting and infrastructure are already in place for processing ore at the Blackdome mill, with a 200-tonne per day throughput over an eight-year mine life. Our near-term goal is to continue aggressive exploration at Elizabeth and develop a million-plus-ounce gold resource, commencing production in 2013."
For complete information on Sona Resources Corp. please visit: www.SonaResources.com