You are here
What? You mean central banks keep things secret?
Anybody seen Bill 'Smash and Grab' Murphy?
* * *
Bank of Canada Secret Documents Stolen
By Louise Egan
Wednesday, November 17, 2010
OTTAWA, Canada -- Classified Bank of Canada documents were stolen from Governor Mark Carney's car earlier this month but none of the missing papers contained information that could move markets, a bank spokesman said on Wednesday.
About one week after meeting with other G20 finance officials in Korea, Carney was in Montreal for private meetings when someone smashed in the window of the bank's locked, official vehicle and removed a bag.
"The car was broken into. Essentially the window was smashed and a bag containing some personal effects and some documents was stolen from the car," said central bank spokesman Jeremy Harrison.
... Dispatch continues below ...
Prophecy Receives Permit To Mine at Ulaan Ovoo in Mongolia
VANCOUVER, British Columbia -- Prophecy Resource Corp. (TSX-V:PCY, OTCQX: PRPCF, Frankfurt: 1P2) announces that on November 9, 2010, it received the final permit to commence mining operations at its Ulaan Ovoo coal project in Mongolia. Prophecy is one of few international mining companies to achieve such a milestone. The mine is production-ready, with a mine opening ceremony scheduled for November 20.
Prophecy CEO John Lee said: "I thank the government of Mongolia for the expeditious way this permit was issued. The opening of Ulaan Ovoo is a testament to the industrious and skilled workforce in Mongolia. Prophecy directly and indirectly (through Leighton Asia) employs more than 65 competent Mongolian nationals and four expatriots. The company also reaffirms its commitment to deliver coal to the local Edernet and Darkhan power plants in Mongolia."
The Ulaan Ovoo open pit mine is 10 kilometers from the Russian border and within 120km of the Nauski TransSiberian railway station, enabling transportation of coal to Russia and its eastern seaports. Thermal coal prices are trading at two-year highs at Russian seaports due to strong demand from Asian economies.
For the complete press release, please visit:
Two other recent security breaches by government ministers have been politically embarrassing and career-limiting. Former Foreign Affairs Minister Maxime Bernier was forced to step down in 2008 after leaving classified briefing papers at his girlfriend's house.
There were no immediate signs that Carney, a former Goldman Sachs investment banker who is very highly regarded in government, would be reprimanded.
Finance Minister Jim Flaherty suggested Carney held no responsibility in the incident.
"He's a victim of a crime and that's an unfortunate thing," Flaherty told reporters.
Police confirmed they had recovered Carney's bag but neither they nor the bank would say whether the documents had been found.
The papers were not related to interest rate decisions -- the bank's next rate announcement is scheduled for Dec. 7 -- and were not of the highest security classification.
"The documents in the bag did not contain any market moving information nor did the bag contain any documents that had government of Canada security classification," Harrison said.
"But it did contain Bank of Canada internal administrative documents with various internal security classifications such as staffing notes, briefing notes etcetera."
Royal Canadian Mounted Police spokesman Luc Thibeault could not say whether there were any suspects in the case.
The incident raised questions about the bank's policies for safeguarding confidential information.
"Clearly there has been a potentially harmful breach," said Finn Poschmann, vice-president of research at the C.D. Howe Institute think tank, who called on the bank to review its procedures.
The bank has already taken steps to carry out a review of security policies and training, including those specifically regarding official vehicles, Harrison said.
The bank has not directly blamed anyone but its description of the mishap seemed to suggest neglect by Carney's official chauffeur, who may have left the car unattended.
But one opposition politician said Carney himself should come forward and take responsibility.
"You don't blame the driver. ... I don't buy that. You're responsible for your stuff," said Thomas Mulcair, a legislator for the New Democratic Party and frequent critic of Carney's Goldman Sachs connection.
* * *
Support GATA by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon:
* * *
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
Sona Drills 85.4g Gold/Ton Over 4 Metres at Elizabeth Gold Deposit,
Extending the Mineralization of the Southwest Vein on the Property
Company Press Release, October 27, 2010
VANCOUVER, British Columbia -- Sona Resources Corp. reports on five drillling holes in the third round of assay results from the recently completed drill program at its 100 percent-owned Elizabeth Gold Deposit Property in the Lillooet Mining District of southern British Columbia. Highlights from the diamond drilling include:
-- Hole E10-66 intersected 17.4g gold/ton over 1.54 metres.
-- Hole E10-67 intersected 96.4g gold/ton over 2.5 metres, including one assay interval of 383g of gold/ton over 0.5 metres.
-- Hole E10-69 intersected 85.4g gold/ton over 4.03 metres, including one assay interval of 230g gold/ton over 1 metre.
Four drill holes, E10-66 to E10-69, targeted the southwestern end of the Southwest Vein, and three of the holes have expanded the mineralized zone in that direction. The Southwest Vein gold mineralization has now been intersected over a strike length of 325 metres, with the deepest hole drilled less than 200 metres from surface. "The assay results from the Southwest Zone quartz vein continue to be extremely positive," says John P. Thompson, Sona's president and CEO. "We are expanding the Southwest Vein, and this high-grade gold mineralization remains wide open down dip and along strike to the southwest."
For the company's full press release, please visit: