Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Hello Bob, Gold can be easily manipulated as well. It is no safe-haven.
They are mammon filled with monster greed. Just need to remember that they will do anything to rob wealth from you.
ABSOLUTELY, GREEDY FRAUDULENT FED RESERVE MANIPULATION AND INSANE MARKET HYPE!!
DEMOLISH FRAUDULENT FED RESERVE!!!
Odam, Greenspan greed manipulation and fraud Fed Reserve.
~~
* 1M Homes Repossessed in 2010; Crisis 'Peak' Coming Lenders are poised to take back more homes this year than any other since the U.S. housing meltdown began, industry analysts forecast, as about 5 million borrowers fall at least two months behind on their mortgages o Deficit Expected to Top $1T, Again
http://www.foxnews.com/us/2011/01/13/banks-repossess-million-homes/
About 5 million borrowers are at least two months behind on their mortgages and more will miss payments as they struggle with job losses and loans worth more than their home's value, industry analysts forecast.
"2011 is going to be the peak," said Rick Sharga, a senior vice president at foreclosure tracker RealtyTrac Inc.
Moneta Porcupine J (ME)
0.355 ? -0.015 (-4.05%)
Volume: 175,500 @ 3:10:04 PM ET
Bid Ask Day's Range
0.345 0.355 0.34 - 0.36
TSE:ME Detailed Quote
Purcupine thanks that was a great tip
Moneta Porcupine J (ME) fiat $0.31 UP $0.04 +14.81%
Volume: 775,800 @ 3:59:12 PM ET strong demand
Bid Ask Day's Range
0.305 0.325 0.275 - 0.32
Full TSE:ME Quote
is it only we the porcupines
buying the richest Au porcupines
in the world? ~<
Merry Christmas
~<
MONETA'S SOUTHWEST ZONE OFFERS UP ANOTHER HIGH GRADE GOLD ZONE FURTHER EXPANDING THE MINERALIZED GOLD ENVELOPE
http://www.monetaporcupine.com/i/pdf/MONETA-PPT-October2010.pdf
http://www.monetaporcupine.com/i/pdf/2010-09-09_NR.pdf
Sep. 9, 2010 (Canada NewsWire Group) --
TIMMINS, ON, Sept. 9 /CNW/ -
Moneta Porcupine Mines Inc. -
(TSX: ME / OTC: MPUCF / XETRA: MOP) ("Moneta")
announces the results for its third deep drill hole from its
summer 2010 exploration drill program on the Southwest Zone,
within the 100% owned Golden Highway Project ("GHP"),
located along the prolific Destor-Porcupine Fault Zone,
approximately 100km east of Timmins, Ontario.
Drill hole MSW10-269 returned
8.34 g/t Au over 6.40 metres, including 42.73 g/t Au over 0.50 metres,
from a previously untested area of the Southwest Zone.
This new high grade mineralization, associated with elevated
levels of disseminated pyrite in altered sediments and quartz
veining, is located in the hanging wall of the Central Block
iron formation approximately 150 metres south of the contact
and 100 metres west of the nearest historical hole
MN96-194 (see Figures I and II).
This new intersection opens a new area that had not been
drill tested.
"We continue to intersect new high grade mineralization in the
Southwest Zone with the known mineralization now confirmed
over 1,200 metres along strike,
more than 200 metres in width,
and to a depth of 1,200 metres.
The recent significant results obtained by Moneta at depth
suggest that additional high grade gold zones may exist
below the 500 metre elevation where only 18 drill holes
have been completed over the 1,200 metre strike length to date.
We continue to see significant potential in discovering new
high grade zones, expanding recently identified zones,
and expanding the overall mineralized gold envelope,"
commented Ian C. Peres, President & CEO of Moneta.
MSW10-269 was drilled to test the southwest down-plunge extension
of strongly mineralized quartz veining and sulphidized iron
formation intersected in
MN96-194 (5.80 g/t over 8.70 metres)
and MN96-210 (12.16 g/t over 4.60 metres).
Due to steepening of the drill hole,
MSW10-269 ended below the targeted down-plunge extension.
Follow-up drilling is currently underway to test this high grade
down-plunge as well as the up-dip potential of the new
MSW10-269 high grade mineralization.
In addition to the high grade sulphidized iron formation,
recent modeling of the historical resource of
625,000oz Au @ 5.98 g/t suggests an interpreted shoot of gold
mineralization that is steeply south-plunging away from
the south contact of the iron formation.
The MSW10-269
mineralization is interpreted to be a separate high grade
shoot of gold mineralization, also steeply south-plunging
from the south contact of the iron formation
and open in all directions.
For a plan and section view of
the New 269 Zone,
please click on the following link:
http://www.monetaporcupine.com/i/pdf/2010-09-09_NRM1.pdf
For a map of Moneta's Golden Highway Project,
please click on the following link:
http://www.monetaporcupine.com/i/pdf/2010-09-09_NRM2.pdf
The summary results from MSW10-269 are as follows:
<<
-------------------------------------------------------------------------
Drill hole From To Width Au Comments
(m) (m) (m) (g/t)
-------------------------------------------------------------------------
MSW-10-269 600.50 606.90 6.40 8.34 Quartz veinlets, increased
incl. 600.50 601.00 0.50 42.73(1) pyrite, strong alteration
-------------------------------------------------------------------------
621.00 631.50 10.50 2.18 Quartz veinlets, increased
or 627.00 631.50 4.50 3.02 pyrite, strong alteration
incl. 628.00 629.00 1.00 5.26
-------------------------------------------------------------------------
(1) metallics
>>
R. Skeries, P.Geo. is the Qualified Person for the purposes of NI 43-101 and has approved the technical content of this release.
Assay Reporting
Diamond drill core logging and sampling follows general industry practices whereby logged and sample marked core is sawn in half with one half bagged and tagged for shipment to the assay laboratory and the remaining half of the sawn core returned to the core box for storage and future reference. Pulps and rejects are also stored. Blanks and a range of standards are inserted into the sample steam at regular intervals. Up to 15% of the pulps are submitted to a second laboratory as checks. Initial assays, metallics, and routine duplicates are completed by Expert Laboratories, while check assays and their duplicates are completed by Swastika Laboratory. Both laboratories used standard 30g fire assay techniques. Additional core sampling and assaying, including second cuts and metallics, may be completed at later dates. Intersections are reported using drilled widths unless specified otherwise with assay values as simple averages of duplicates and gravimetric results.
About Moneta
Moneta is a long-established gold mineral exploration
and development company and former gold producer which
owns one of the largest property portfolios over
approximately 10% (from Timmins, Ontario to the Quebec border)
of the Destor Porcupine Fault Zone, one of the key structural
features in the Abitibi Greenstone belt in Ontario.
Moneta owns 100% of the Golden Highway Project,
North Tisdale,
Nighthawk Lake,
Kayorum
and Denton Thorneloe
(West Timmins) core projects located in the Porcupine
and Golden Highway Camps,
one of the most prolific gold producing regions
in North America,
with over 72 million ounces of gold mined to date.
Moneta's public documents may be accessed at www.sedar.com. For further information on Moneta, please visit our website at www.monetaporcupine.com or email us at info@monetaporcupine.com.
This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.
Ian C. Peres, President & CEO,
416-579-3040 begin_of_the_skype_highlighting 416-579-3040 end_of_the_skype_highlighting (Toronto),
705-264-2296 (Timmins),
iperes@monetaporcupine.com
http://www.monetaporcupine.com/i/pdf/MONETA-PPT-October2010.pdf
http://www.monetaporcupine.com/s/Presentation.asp
http://www.monetaporcupine.com/i/pdf/CorporateFacts.pdf
http://www.monetaporcupine.com
GG Goldcorp Split Time Overdue - with Robert McEvans we would
get two new share for each one held -
got it twice before - more easy for investors to
buy a $10-20/sh to get a board lot than to
buy above $40/sh -
shareholders should suggest it again to the
new management - get a split going -
don't mind to get 3 new for each share held
get new shares again - in no time they will
fly to 40 again and it be time for new shares again -
again - again - it a smart move - it works
very positive each time -
I been in since Dickinson time -
good moves Robert did - it worked all
the way and GG used to to be the top mover of NYSE
get the split going
A nice split would make Goldcorp to TOP MOVER
Got Mother Au Gold
http://www.goldcorp.com
TIA
God Bless
SGR Gold Spot (FOREX:XAUUSDO
Higher Lows - Higher Highs -
http://investorshub.advfn.com/boards/board.aspx?board_id=5396
Exactly 4 months to go...we can do it! ;)
The Gold Standard: The Case for Another Look
http://www.midasletter.com/commentary/100511_The-gold-standard-the-case-for-another-look.php
San Gold Corporation SGR -
San Gold Video
http://www.sangoldcorp.com/index.php?id=193
Harmony Gold and prev. operators spent good
old $125 million + on upgrading and
the new 1500t/day mill -
SGR got it for a dime on the dollar when Harmony left
to deal with the black power in SA other operation -
Junior old great gold mine explorers have the greatest upside potential -
dd....
http://www.sangoldcorp.com
- According To Gold -
http://www.gold-eagle.com/editorials_08/west051310.html
Whenever gold touches a new record price, goldbugs leap up and down and slap each other heartily on the back in a self-congratulatory ritual that is becoming as predictable as the 4 seasons. They are right, and they know it. For all the troughs in the chart since 2000, any tenacious golden insect who held on through trial and tribulation has only seen his fortune grow. Naysayers have gone silent, for the most part, but for that implacable breed who can still claim a flat earth when all the evidence is in supporting a round planet.
Gold is speaking to us, in its gleaming, grinning, golden silence, from its distant historical perch in the affairs of commerce among humans. Its telling us what fools we are to believe in the fiat paper issued by governments. Its telling us that many G7 governments are either in cahoots with or the unwitting foils of the elite banking set who pilfer the pockets of citizens (while padding the accounts of their delusional economists to keep the media talking only of economic cycles) and proclaim and "economic cycle" through the mouths of their delusional economists.
Gold is telling us that leverage is the avenue to self-destruction. It's telling us that globalization is just a giant curtain behind which the multi-national pillager hides its arsenal of local competition-crushing techniques and artillery. It's telling us that the media is lying and is another tool of the elite banking set, who ultimately fund these former institutions of truth who now rely on the financing of private equity to survive, rendering objectivity impossible.
Gold is illuminating the absence of responsibility in government and banking, and is warning us that if these fiat currency systems are not brought more into line with something representative of something with intrinsic value, then the economies of the world will continue to crumble, the financial system's tumours will continue metastasizing.
Gold is also telling anyone who has the mental acuity to pay attention that it is the best option of wealth preservation now and forever.
The world, according to gold, is an absolute mess. Its telling us that the financial system that should be the conduit for honest and good business has been hijacked by a bunch of Cosa Nostra types who have turned it into a giant casino, where the roulette table is rigged and the blackjack decks are stacked. The house, always the favorite, has been compromised to an extent that would embarrass Capone.
The great thing about gold, though, is while illuminating the problems, it also infers a solution.
While Greece crumbles and Portugal, Spain, Ireland, Iceland, the U.K. and the United States all totter at varying rates towards a similar fate, gold says, "buy me with your putrid stinking dollars pounds and drachmas and you will be saved the excruciating pain of being burned at the financial stake."
Woe betides the man for whom this falls on willfully deaf ears.
Major producers are a low-risk slow growth way to go. Mid-tiers have a better growth profile but with commensurate increased risk. Junior explorers have the greatest upside potential, but again the risk is commensurate with the reward. ETFs are a convenient way to play gold without the security hassle of burying it in your backyard, but the opportunity for administrative abuse offsets the convenience, and represents risk. ETFs that claim to be tethered to gold through participation in the derivatives (futures) market should be treated like the bubonic plague.
Recently, an opinion piece in the Wall Street Journal suggested
The Gold Standard: The Case for Another Look
http://www.midasletter.com/commentary/100511_The-gold-standard-the-case-for-another-look.php
a return to the gold standard as a viable solution to the problems of currency manipulation for political purposes.
Gold is telling us that this is the only solution for the clearly failed principles of economics advocated by Mssrs. Friedman and Keynes. Gold also suggests that abandoning the gold standard in its purest form and then much later in its bastardized form (which prompted Keynes's proclamation of the gold standard as a "barbarous relic") was the point at which the world lost its ability to achieve stable currencies and prices.
Ignore the naive dismissals of the uninformed who quickly produce pen and napkin to compare the amount of currency in the world to that of gold…that's not what a gold standard means. It means that all the world's currencies would be assessed a relative value in gold, and it would be not be able to produce currency in excess of what its economy was valued at in gold. (That's a crude definition, and in reality, any new gold standard would doubtless be encumbered by a deluge of if-then equations that might derail it.)
The purpose of a gold standard is to bring accountability to government independent of elite financial manipulative interests. The United States wouldn't be able to print money at will to solve every little meltdown that came along. Instead, it and all governments would have to suffer the full brunt of such bouts of economic fever, and would be forced to address the causal symptoms with a systemic approach. That in opposition to right now, where printing money with the current abandon is yoking future generations to a legacy of debt and irresponsibility, thus ensuring the perpetuation of such behaviour for those generations.
I hold little hope that any serious dialogue will occur on that subject, however, in the foreseeable future. That would imply responsible leadership, and casting around the G7 table, none are thus appropriately attired.
Gold standard aside, gold is also telling us in no uncertain terms that the seeds of our own destruction we ourselves have sown. Same goes for the seeds of salvation which we shall soon need to find in the attic and start planting, as this rotten old system crumbles completely.
And ultimately, this is gold's final message to the present generation. Its telling us that we've gone too far down the road to perdition. We are at the brink of the waterfall where no amount of dog paddling in the opposite direction will defeat the force of the inevitable. This is the point where gold tells us that the day of reckoning is upon us, and worse (or better) than any biblical prophecy, the demons and angels of that modern mythology will prove a metaphoric representation of those among us. Demons we have in spades. The question is, wither thou angels?
There are other gems of truth uttered on the invisible lips of gold.
For instance, gold quietly points out that these cycles of manipulation and perfidy on the parts of corrupt government through the ages results in one constant, oft-maligned but never permanently suppressed measurement of value standing strong amid the rubbles of successive failed currencies: namely, gold.
The system cannot repair itself because those in charge at the helm
making decisions caused the fractures and protect their power base.
They live and operate within a system that no longer functions
effectively.
Reform would involve bankruptcy for the elite in charge.
Remedy would involve liquidation of the balance sheets
for the elite in charge.
True crackdown would involves prosecution and jail time
for the elite in charge.
Changing of the guard would involve lost power
for the elite in charge.
Independent audits would involve revelations and disclosures
of criminal fraud on a widespread basis.
So the system lumbers along, broken.
Nowhere has the brokenness gone more unaddressed than
under-water mortgages for 22% of the American public.
True remedy and crackdown would involve a mushroom of criminal
allegations from bond fraud, revelation of duplicate usage for
mortgage payment revenue streams, lost property titles,
and counterfeit fraud.
That is a major reason why Fannie Mae was nationalized,
to keep the fraud under the roof of the United States Government,
where the corruption, theft, and fraud can be protected
by the numerous agencies.
The global response has been and will continue to be a flight
into gold, finally recognized as a zero risk safe haven.
The global decline in trust for government debt
is the death knell for the major currencies,
the monetary system, and the central bank franchise system.
It is also the harbinger for $2000 gold and $50 silver -
to be a start Au & Ag bull run to FLY
INCLUDING 22.97 G/T AU ACROSS 24.8 METRES - GOLDSTONE REPORTS
EXPANSION OF NN ZONE MINERALIZATION AT HARDROCK -
http://www.grcmines.com/news.php
http://www.grcmines.com/hardrock.php
http://www.grcmines.com/history.php
http://investorshub.advfn.com/boards/board.aspx?board_id=1499
Conquest Resources L (TSX:CQR)
Last Price (CAD)
$ 0.2
Change
? 0
Bid 0.19
Ask 0.20
Volume 61,500
Day's Range 0.20 - 0.20
Last Trade 2:31:18 PM EST
Click for Detailed Quote Page
Gold at $10,000 an ounce? 10 reasons it could happen within the next 12 months…
(Patrick Kerr – Amerifutures) Gold at $10,000 an ounce? 10 reasons it could happen within the next 12 months…
1) As the world looks to “reflate” their economies, fiat currencies (dollar, euro etc) are being deliberately devalued by governments worldwide as a way to get out from massive debt burdens that were run up during “credit bubble” and continue at ever higher levels with “stimulus” plans. The US very much wants and needs a weaker dollar and low interest rates as deficits and unemployment continue to soar. Fiat currencies will likely continue to be aggressively devalued over the next decade.
2) China has $2 Trillion in Foreign Currency reserves (Fiat Currency) and only 2% in gold, vs. 75% for US and 10% worldwide average. With every .5% drop in the dollar, drops the value of China foreign currency reserves by $10 billion dollars (a move happening daily recently). If China wisely decides to increase its gold reserves and reduce it fiat currency exposure to even just the worldwide average, gold prices could move substantially higher and stay at higher price levels.
3) Scarcity Part One: The gold industry has not replaced gold reserves mined in over a decade, gold is simply too scarce. Scarcity means shortages on the near term horizon. Shortages in gold means there is not enough physical gold available to cover the massive quantities of gold that has been “lent”, “leased” or “pledged”. This situation will only be exasperated going forward opening the real possibility of a major gold short squeeze and possible price spike pushing gold to the stratosphere (and keeping it there).
4) Scarcity Part Two: Throughout history only 160,000 tons of gold has ever been mined. At today’s prices that equates to $4.9 trillion dollars vs $60 trillion in outstanding fiat currency. As fiat currency continues to be deliberately debased look for this price relationship to invert.
5) Scarcity Part Three: Repatriation. Hong Kong recently pulled all its gold holdings and deposits from London. Hong Kong wants to physically possess and control its gold and now does. Look for other countries to follow.
6) Deep Pockets Part One: Central banks, the deepest pockets of them all, are in the process of switching from net sellers of gold to net buyers, this is a major secular change and is likely to continue as other central banks look to follow suit diversify reserves away from heavy fiat currency exposure.
7) Deep Pockets Part Two: Major insurance companies have begun purchasing gold. Northwestern Mutual, considered a conservatively run yet savvy company, recently purchased $400 million worth of gold, its first purchase in 152 years, its CEO Edward Zore believes gold could increase five fold. Look for other insurance companies to follow.
8) Deep Pockets Part Three: Sovereign wealth funds, China, Qatar, and Saudi Arabia have begun heavily investing in commodities world-wide to diversify out of Fiat Currency (dollar, euro). Look for more SWF to follow.
9) Deep Pockets Part Four: Respected and widely followed fund managers are publicly piling into gold and/or out of the dollar including John Paulson, Bill Gross, Paul Tudor Jones, Kyle Bass, David Einhorn, Paolo Pellegrini, John Burbank, Sri Kumar, David Rosenberg (economist,) John Hasenstab, Evy Hambro, Donald Coxe, John Brynjolfsson and David Tice. Look for other major mutual funds, hedge funds and pension funds to follow the leaders.
10) Traditional Gold hedgers (producers, miners etc) such as Barrick, the world’s largest gold company, are eliminating their hedge books…essentially taking the cap of the market…as gold supplies dry up producers are no longer locking in prices by selling massive quantities of futures contracts…this takes selling pressure off and indicates producers believe prices will be going much higher. Look for all producers to unwind their hedge books.
The world is changing rapidly. Old world powers, like the US, are making room on the stage for new world powers like China. Previous deep pockets are being displaced by new even deeper pockets: Central Banks. All of the above indicates much higher prices to come. The first movers in all the categories above (central banks, insurance companies, funds, sovereign wealth funds) will have the advantage of getting in at lower prices. Late movers will be forced to buy at higher prices. Regardless of who does what we are going higher. Recommendation: If you do one trade in the next two years do this: Get long and stay long gold.
Gold $5000+ we only got to 2nd page in the Gold book
it will be many more golden pages to come
The investors still think that the US economy is recording a
slow recovery and it will continue in the next period.
CIT Group bankruptcy which is considered one of the largest
bankruptcies in the history of the U.S pressured investors
to turn to the safest investment at the time being;
the precious metals, this is the main reason of the rise
in gold to reach its historical levels and be traded
at $1053.60 per ounce till now, it recorded its highest
level at $1056.62 since it opened at $1042.65 and
its lowest level at $1042.30 per ounce.
Goldcorp is one of the world's largest gold mining companies
with the top strongest production growth profile among all
senior gold producers....
http://www.goldcorp.com/
It is the world's richest gold mine and
Goldcorp's largest producer....
http://www.goldcorp.com/_resources/GoldCorp_FactSheet_Web.pdf
Goldcorp's 100% owned Red Lake Gold mine is Canada’s largest gold mine,
and in 2008 produced 629,000 ounces.
It is also one of the world’s richest gold mines and lowest
cost gold producers....
http://www.goldcorp.com/operations/red_lake_mine/
Goldcorp inc. - Goldcorp Inc.
El Sauzal was 2007's largest gold producer in Mexico,
at over 300000 ounces....
http://www.goldcorp.com/news/goldcorp/index.php?&content_id=583
RMK is a Gold penny play....
Roxmark to Extend 2009 Northern Empire Drilling, Completes Leitch- Sand River Aeromagnetic Survey -
http://www.americanchronicle.com/articles/yb/136694436
RE: weekend video wakeup....
Fall Of The Republic - The Presidency Of Barack H Obama -
The Full Movie HQ -
stocksurgeon welcome, well The Leitch Mine (now 100% owned by Roxmark)
The Leitch Gold Mine -
(now on Roxmark land) was the # 1 of Ontario & Canada's
highest grade and most profitable Gold mines -
producing 860,648 ounces from 906,395 tons of ore
at an average recovered grade of 0.91 oz.Au/ton.
Even more impressively, the average recovered Gold grade -
over the last ten years of the mine’s Gold operation -
was 1.15 oz.Au/ton.
http://www.roxmark.com/history.html
The RMK Gold Mines -
collectively produced nearly 3.0 Million ounces of gold
from relatively shallow depths (within 600 metres
of surface) from 1938-1968.
The Northern Empire Mine
(prev. Newmont Gold, NEM owned) produced
nearly 150,000 oz of gold
from high grade ore and has been chosen by Roxmark
as the first mine to be re-opened in
the Beardmore Camp.
http://www.roxmark.com/history.html
http://www.roxmark.com
http://investorshub.advfn.com/boards/board.aspx?board_id=1499
Ps.
RMK Gold Mines are in Canada
outside of bho negz of bolshevikz mining rules.
Presentation by John F. Kearney, Conquest's Chairman on "InvestmentPitch.com"....
http://www.investmentpitch.com/media/514/Conquest_Resources_Ltd.__TSXV_CQR/
http://investorshub.advfn.com/boards/board.aspx?board_id=15069
And they sneer at gold for not paying interest -
Submitted by cpowell on Fri, 2009-08-28 00:27.
Section: Daily Dispatches
Bankers Watch as Sweden Goes Negative
By Andrew Ward and David Oakley
Financial Times, London
Thursday, August 27, 2009
http://www.ft.com/cms/s/0/5d3f0692-9334-11de-b146-00144feabdc0.html?&ncl...
For a world first, the announcement came with remarkably little fanfare.
But last month the Swedish Riksbank entered uncharted territory when it became the world's first central bank to introduce negative interest rates on bank deposits.
Even at the deepest point of Japan's financial crisis, the country's central bank shied away from such a measure, which is designed to encourage commercial banks to boost lending.
But as they contemplate their exit strategies after the extraordinary measures of the past two years, central bankers will be monitoring the Swedish experiment closely.
Mervyn King, the Bank of England governor, has hinted that he may follow the Swedish example as the danger of a so-called liquidity trap, where cash remains stuck in the banking system and does not filter out to the wider economy, is an increasing concern for the UK.
Hoarding is exactly what happened in Japan earlier this decade when the Bank of Japan implemented quantitative easing between 2001 and 2006.
Japanese banks refused to lend, in spite of central bank stimulus, because of fears over the dire state of the economy.
If this continues to happen in other economies, central bankers may be left with little choice but to follow the Swedish example. John Wraith, head of sterling rates product development at RBC Capital Markets, says: "The success of the UK's quantitative easing experiment hinges a lot on whether the banks will use the extra money they are getting for lending to individuals and businesses. If there is no sign of this over the next few months, then the Bank of England might consider a negative interest rate. In essence, it is a fine on banks that refuse to lend."
In the UK, for example, nearly L140 billion has been injected into the economy through central bank purchases of government bonds and corporate assets, mainly from the commercial banks.
However, since the QE project was launched on March 5, a lot of this money, which in theory should be used by the commercial banks for lending to businesses and individuals, has ended up at the Bank of England in reserves.
Commercial bank deposits have risen from L31 billion in early March to L152 billion at the end of July -- the latest figure.
This in itself is not a problem as the banks could be using this big increase in their reserves to step up their lending to the private sector. The more the banks have in reserves, the more they are allowed to lend.
However, there is no sign yet that they are using their much bigger reserves to lend on. The latest money supply figures for lending are still fairly anaemic.
It is why Mr. King did not rule the possibility of negative interest rates when asked about the Riksbank model this month following the unveiling of the quarterly inflation report. "It's an idea we will certainly be looking at -- whether the effectiveness of our asset purchases could be increased by reducing the rate at which we remunerate reserves," he said. His comments are one reason why yields on short-dated UK government bonds have fallen to record lows and why sterling has been under pressure in the currency markets.
Initially, Mr. King gave QE six months before it would start taking effect. That time limit is up next week. If there are no signs in the money supply numbers, particularly in the key M4 lending excluding financial institutions, then the policy may start to look a distinct possibility.
In Europe, the European Central Bank is considered less likely to introduce negative interest rates.
This is because it has maintained higher official rates than other banks and used money-market operations to act as a stimulant instead. For example, it offered commercial banks unlimited funds for one year at the end of June.
But it does have the same problem as the Bank of England in assessing the success of its policy. Like the UK, commercial bank deposits at the ECB have shot up in the past few months.
At this stage, the United States also seems unlikely to introduce the policy as there has been little debate on the matter and no hints from policymakers about it being an option.
At the Riksbank, which now has a deposit rate of minus 0.25 per cent, the most vocal advocate of the policy is deputy governor Lars Svensson, a world-renowned expert on monetary policy theory and a close associate of Ben Bernanke, chairman of the U.S. Federal Reserve, since they worked together at Princeton University.
According to the minutes of the Riksbank's July meeting, Mr Svensson dismissed the "zero interest rate mystique" that had "exaggerated the problems" associated with zero or sub-zero rates.
"There is nothing strange about negative interest rates," he said.
Henrik Mitelman, chief fixed-income strategist at SEB, the Swedish bank, said that the negative deposit rate, combined with a cut in the repo rate to an historic low of 0.25 per cent, sent a powerful signal to the market that the Riksbank intended to keep rates close to zero until economic recovery was well under way. "What the Riksbank did was very brave. They decided to see if markets could cope with it and the markets have."
Carl Milton, fixed-income analyst at Danske Bank in Stockholm, cautions that the Riksbank decision was not as pioneering as some have portrayed. The bank routinely keeps its deposit rate 50 basis points lower than the repo rate to regulate liquidity in the market, he says. When the repo rate was cut to 0.25 per cent, the deposit rate was automatically forced into negative territory. "It was not something put in place to punish banks or to force them to lend," he says.
Moreover, Swedish banks make relatively little use of the central bank deposit facility, limiting the impact of negative rates.
But by breaking the taboo surrounding sub-zero rates, the Riksbank may have set an important precedent that others could use to greater effect. Don Smith, economist at Icap, says: "Sweden's policy is certainly very interesting. We will have to wait and see what happens there. This is certainly a very unusual policy, but these are very unusual times."
* * *
Join GATA here:
The Silver Summit 2009
Thursday-Friday, September 24-25, 2009
Davenport Hotel, Spokane, Washington
http://thesilversummit.com
Toronto Resource Investment Conference
Saturday-Sunday, September 26-27, 2009
Intercontinental Hotel, Toronto, Ontario, Canada
http://www.cambridgeconferences.com/ch_tor2009.html
New Orleans Investment Conference
Thursday-Sunday, October 8-11, 2009
Hilton New Orleans Riverside Hotel, New Orleans, Louisiana
http://www.neworleansconference.com/
* * *
Support GATA by purchasing a colorful GATA T-shirt:
http://gata.org/tshirts
* * *
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:
http://www.gata.org
To contribute to GATA, please visit:
http://www.gata.org/node/16
Gold Spot (FOREX:XAUUSDO
Hey Bob, thx for the chart..
Conquest Resources(TSX:CQR)fiat(CAD)$0.215 UP $0.035 (+19.44%
Bid 0.20
Ask 0.215
Volume 14,000
Day's Range 0.215 - 0.215
Last Trade 9:30:01 AM EDT
Click for Detailed Quote Page
Mike Maloney - Gold needs to go to $15,000
Silver Spot (FOREX:XAGUSDO) -
Truth would destroy U.S. economic system, Fed warns -
Submitted by cpowell on Thu, 2009-08-27 16:45.
Section: Daily Dispatches
Fed Urges Secrecy for Banks in Bailout Programs
By Jonathan Stempel
Reuters
Thursday, August 27, 2009
http://www.reuters.com/article/marketsNews/idINN2732083820090827?rpc=44
NEW YORK -- The U.S. Federal Reserve asked a federal judge not to enforce her order that it reveal the names of the banks that have participated in its emergency lending programs and the sums they received, saying such disclosure would threaten the companies and the economy.
The central bank filed its request on Wednesday, two days after Chief Judge Loretta Preska of the U.S. District Court in Manhattan ruled in favor of Bloomberg News, which had sought information under the federal Freedom of Information Act.
Preska said the Fed failed to show that revealing the names would stigmatize the banks and result in "imminent competitive harm." The Fed asked the judge not to require disclosure while it readies an appeal.
"Immediate release of these documents will cause irreparable harm to these institutions and to the board's ability to effectively manage the current, and any future, financial crisis," the central bank argued.
It added that the public interest favors a delay, citing a potential for "significant harms that could befall not only private companies, but the economy as a whole" if the information were disclosed.
Underlying this case and a similar one involving News Corp.'s Fox News Network LLC is a question of how much the public has a right to know about how the government is bailing out a financial system in a crisis.
The Clearing House Association LLC, which represents banks, in a separate filing supported the Fed's call for a delay. It said speculation that banks' liquidity is drying up could cause runs on deposits, and trading partners to demand collateral.
"Survival can depend on the ephemeral nature of public confidence," Clearing House general counsel Norman Nelson wrote. "Experience in the banking industry has shown that when customers and market participants hear negative rumors about a bank, negative consequences inevitably flow."
The Clearing House said its members include ABN Amro Holding NV, Bank of America Corp, Bank of New York Mellon Corp., Citigroup Inc., Deutsche Bank AG, HSBC Holdings Plc, JPMorgan Chase & Co., UBS AG, U.S. Bancorp, and Wells Fargo & Co (WFC.N).
The case arose when two Bloomberg reporters submitted FOIA requests about actions the Fed took to shore up the financial system in 2007 and early 2008, including an expansion of lending programs and the sale of Bear Stearns Cos to JPMorgan.
The case is: Bloomberg LP v. Board of Governors of the Federal Reserve System, U.S. District Court, Southern District of New York (Manhattan), No. 08-9595.
* * *
Join GATA here:
The Silver Summit 2009
Thursday-Friday, September 24-25, 2009
Davenport Hotel, Spokane, Washington
http://thesilversummit.com
Toronto Resource Investment Conference
Saturday-Sunday, September 26-27, 2009
Intercontinental Hotel, Toronto, Ontario, Canada
http://www.cambridgeconferences.com/ch_tor2009.html
New Orleans Investment Conference
Thursday-Sunday, October 8-11, 2009
Hilton New Orleans Riverside Hotel, New Orleans, Louisiana
http://www.neworleansconference.com/
* * *
Support GATA by purchasing a colorful GATA T-shirt:
http://gata.org/tshirts
* * *
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:
http://www.gata.org
To contribute to GATA, please visit:
http://www.gata.org/node/16
http://www.gata.org/node/7730
Take a look at SFEG. It's currently trading at $1.07!
TTXP.OB Gold Producing Company Signs LOI to Acquire Ecuadorian Gold Processor to Increase Gold Production!
Minera Del Pacifico the largest operator in Ecuador per tonnage owns 30mil shares of TTXP and is the operator of SantaFe Gold Mining Company. Acquiring SantaFe brings total production of TTXP up to 200 tons of ore per day fulfilling new Ecuador Ministry Mining Laws!
Continued high growth is expected for TTXP as 3 geological surveys identified 1 million ounces of gold reserves at their Muluncay Mine. Kinross-KGC (through Aurelian acquisition last year), IAMGOld-IAG, and Dynasty Mining-DMM.TO are located adjacent to TTXP in Ecuador.
For more information visit: http://www.miningstock.info/ttxp/
Hey ya Bob!
I'm starting to buy some junior Canadian goldies, so far one that i'm in is PEM.V, nice chart and assay results due July 30/09........nice uptrend started on this one imo.
snowwolf
p.s. lots of nice b-boards in your i-box
And a great all around post and chart on Gold bud!! nice.
Gold chart TA TI LT strong bull run
The price of gold can be volatile in the short term,
gold has always maintained its value over the LT long term.
Through the 1000s years, it has served as a hedge
against inflation
and the erosion of major fiatz currencies, and
thus is an investment well worth considering.. ..
http://www.goldcorp.com/operations/red_lake_mine/
Gold is strategic long term safety
ex..strategic penny gold play....
http://www.conquestresources.net/
http://investorshub.advfn.com/boards/board.aspx?board_id=11788
God Bless
Thanks for the DD bob!!
Gold is actually up 16.3% p.a. on average for the last eight years..
The yellow metal is moving from its recent to role as a fear
barometer back into its traditional pastime of trending
in opposition to the US$.
We expect that to continue, and we watch the strengthening
Indian Rupee as an important harbinger of gold’s price potential.
India has long been the most important physical market for
gold and silver.
It was the destocking of gold out of India that held some
of its price in check during the first quarter despite the
increased investment buying of the metal in other markets.
There has seen support at the Rupees 1400/gram level in
India, which has been an upward shifting target level
in Dollars of late that currently equates to about
US$930 per ounce.
Just how an improved mood within India will impact that
economy’s gold habits is an open question.
Crisis selling in India does not mean buying will resume
now because Indians are feeling better about things.
It may however mean they will again be gold holders
rather than sellers.
That would smooth the way to a higher gold price as
the dollar weakens.
There has recently been a greater shift towards asset rich
juniors and some target rich gold explorers that are
both funded and active.
When the gold price is rising, it is normal to see longer
term gold players shift some gains on more senior stocks
in the sector to these riskier gold equities.
If the weakening US$ pushes gold back towards its recently
established highs some of these companies will become
take-over candidates, and others will be see gains in
expectation of further take-over.
The pieces have already been put in place for this to happen.
The resource heavy Toronto Stock Exchange wrote almost as much
business as the New York Stock Exchange did in the first
quarter of this year (when the C$ was weaker than it is now).
The first and largest chunk of that went to gold players,
and the expectation now is that some of those funds are
about to be used for shopping.
We are just now starting to see expectations for that
cash tickling the price of low hanging metal fruit.
What about storing metals with the seller or buying ETFs.
No! No! No!
That’s paper metal, and there is no way to
ensure they are actually putting aside the metal and
its easy for gov. to confiscate it all?
We'll thank our lucky stars we had ex..
this Goldcorp low cost gold mines -
http://www.goldcorp.com/operations/red_lake_mine/
CQR PowerPoint Presentation (May 2009
http://www.conquestresources.net/Powerpoint/CQR_20090524.pdf
http://www.conquestresources.net/presentations.php
The price of gold can be volatile in the short term,
gold has always maintained its value over the long term.
Through the years, it has served as a hedge against inflation
and the erosion of major currencies, and thus is
an investment well worth considering....
http://www.goldcorp.com/operations/red_lake_mine/
Gold is strategic long term safety -
ex..strategic penny gold play....
http://www.conquestresources.net/
http://investorshub.advfn.com/boards/board.aspx?board_id=11788
God Bless
Goldcorp drills four holes on Conquest’s Alexander property at RED LAKE -
· new GOLD INTERSECTION of 14.25 G/T OVER 0.61 METRES AT A DEPTH OF 300 METRES
Toronto, Ontario – May 25, 2009 -
Conquest Resources Limited -
(TSX-V: “CQR”) is pleased to announce that Goldcorp Inc.
(“Goldcorp”) has recently completed four diamond drill holes
on to Conquest’s Alexander Property at Red Lake, Ontario.
The holes were drilled by Goldcorp from its adjacent Red Lake Mine Property
as part of a wider program to delineate mineralization
within the upper part of the Red Lake Mine.
The four inclined holes, which were collared from surface
within approximately 1,000 metres of the Red Lake Mine
No. 1 Shaft headframe, were drilled in a north-easterly
direction into the western part of Conquest’s property
to downhole depths between 690 to 836 metres.
Hole DS641 of Goldcorp’s drilling programme located
a significant gold intersection of 4.97 grams per tonne
gold over 1.82 metres, including 14.25 g/t over 0.61m,
at a down hole depth of 473 metres and an estimated vertical
depth of approximately 300 metres.
The preliminary drilling results were provided to Conquest
by Goldcorp.
The gold assay results were determined by SGS and Accurassay
Laboratories in Red Lake and Thunder Bay, Ontario.
Conquest’s Alexander Gold Project is located in Balmer Township
in the heart of the Red Lake Gold Camp.
It lies immediately adjacent to Goldcorp’s high grade
Red Lake Mine, within the east-southeast trending
“Mine Trend” deformation zone, and is almost
completely surrounded by Goldcorp’s claim holdings.
Commenting on the drilling results, Conquest’s President & CEO, Mr. Terence McKillen, stated:
“The intersection of good grade gold at this depth
on Conquest’s property is extremely encouraging.
The gold mineralization previously encountered by Conquest
in the west-central part of the Alexander Property was
in trenching and shallow drilling.
Goldcorp’s four drill holes extend to approximate vertical
depths of 450 – 570 metres representing the deepest
drilled holes on the Alexander Property to date.
The intersection in hole DS641 confirms gold potential
exists at depth on Conquest’s property.”
Conquest’s Alexander Property at Red Lake is situated adjacent
to Goldcorp’s Red Lake and Campbell gold mines, which
contain historic production and current resources in
excess of 25 million ounces of gold, approximately 1,000
metres east of the No. 1 Shaft headframe and within 400
metres of the Far East Zone at the Red Lake Mine.
Many of the regional structures that have associated gold
mineralization in the area of Goldcorp’s two producing
mines cross on to the Alexander Property.
Conquest has developed a phased exploration strategy for
its Alexander Project to investigate depth extensions
from known surface and near surface gold mineralization
and plans to initiate the first phase of drilling later
this summer.
ABOUT CONQUEST RESOURCES
Conquest is exploring several gold projects in Ontario.
These include the Alexander gold project at Red Lake;
the Aurora and Sunday Lake gold projects at Detour Lake;
the King Bay gold project at Sturgeon Lake (60% interest);
and the Smith Lake gold project at Missanabie.
Conquest has 72,663,830 shares issued and outstanding.
This release has been prepared under the supervision of
Terence N. McKillen, P. Geo. who is a qualified person
under NI 43-101, based on data provided by Goldcorp Inc.
This news release may include certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization, resources and reserves, exploration results, and future plans and objectives of Conquest, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Conquest’s expectations are exploration risks detailed herein and from time to time in the filings made by Conquest with securities regulators.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
WARNING: The Company relies upon litigation protection for "forward-looking" statements.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Terence N. McKillen, President & CEO – (647) 728-4126
D. Brett Whitelaw, Vice-President – (604) 662-8633
John F. Kearney, Chairman – (416) 362-6686
Rob Kinloch – (306) 343-5799
Email: info@conquestresources.net
http://www.conquestresources.net
http://investorshub.advfn.com/boards/board.aspx?board_id=11788
Cdn Zinc Corp Com Npv (TSE:CZN)fiat(CAD)$ 0.18
Change 0
Bid 0.175
Ask 0.18
Volume 71,400
Day's Range 0.175 - 0.185
Click for Detailed Quote Page
Last Trade:11:59:44 EDT Mar-27-09
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=35926730
Website: http://www.canadianzinc.com
http://investorshub.advfn.com/boards/board.aspx?board_id=14899
Canadian Zinc Corporation: Resignation of Director -
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/30/09 --
Canadian Zinc Corporation -
(TSX: CZN)(OTCBB: CZICF) announces, with regret, that
Alan Savage has resigned from the Board of Directors
effective January 29, 2009. Mr. Savage has served as
an independent director of the Company since
June 2003, during which time he has provided valuable
counsel and advice.
The Board wishes to thank Mr. Savage for all his
contributions to the Company over the past six years.
About Canadian Zinc:
The Company's principal focus is its efforts to advance
the Prairie Creek Mine,
a zinc/lead/silver property located in
the Northwest Territories of Canada, towards production.
The Prairie Creek Mine -
is partially developed with an existing 1,000 tonne per day
mill and related infrastructure.
Contacts:
Canadian Zinc Corporation
John F. Kearney
Chairman
(416) 362-6686
(416) 368-5344 (FAX)
Canadian Zinc Corporation
Alan B. Taylor
VP Exploration & Chief Operating Officer
(604) 688-2001 or Toll Free: 1-866-688-2001
(604) 688-2043 (FAX)
Email: invest@canadianzinc.com
Website: http://www.canadianzinc.com
http://investorshub.advfn.com/boards/board.aspx?board_id=14899
Bobwins thanks for info, the Catalysts For Gold’s Climb -
U.S. Department of Agriculture’s Oct. 10 Crop Production Rep.
said acreage for a handful of staple food commodities
has shrunk:
* Corn acreage fell 1.2%.
* Soybean acreage dropped 1.4%.
* Canola acreage dropped 1.9%.
* Sunflower acreage shrank 0.8%.
* And acreage of dry edible beans fell 0.7%.
That naturally translates to higher prices because it squeezes
the supply of the particular commodity.
And it does so at a time when demand continues to escalate
from populations in China, India and Latin America.
And higher prices equal inflation.
For gold prices – is there’s another catalyst that’s right
now inherent in the U.S. economy that could help vault gold
prices to $1,500 an ounce by the end of 2009.
And it has to do with the much-ballyhooed $700 billion rescue
plan -
The government is pumping money in so many banksters,
and that money has to come out somewhere? -
The philosophy behind the rescue plan is:
By providing a portion of the $700 billion to foundering
U.S banks, the Treasury Department believed it could
provide banks with badly needed capital, and get them
to start lending money once again – jump-starting
the economy in the process? -
Since September 2007, U.S. Federal Reserve policymakers
have cut the benchmark Federal Funds target rate nine times –
from 5.25% down to the current 1.0% rate –
to increase bank-to-bank lending and bank-to-consumer lending -
but before that since A.Greenspan time -
fed did raise it 17 times to create the housing bubble -
in the first case -
The government is pumping money in so many banksters pockets,
and that money has to come out somewhere -
to china subsidiary banksters? -
Right now, banksters aren’t boosting lending.
Instead, they are using the cash to finance buyouts
of other banksters -
Even so, that money will “come out” into the economy
in the form of higher stock prices for banksters? -
Ex..Are we the people much better off with ex. credit unions were all members
shares the profit? -
That will make consumer/investors wealthier, and could
make them more confidence in the economy.
If they’re more confident, they will spend.
As that happens, food prices should begin ticking upward,
adding another set of thrusters to gold prices -
We’re having a horrible recession, we’re not to going have
inflation.
Gold has quite good hidden-store value -
As gold prices increase, count on more investors leaving
the sidelines to invest, too, causing the surge in gold
prices to accelerate and steepen -
As gold goes up, it gets more popular and investors
start piling into it -
Ex.
when I bought Goldcorp from the beginning - all said;
its out mined - nothing left - and the mine was shut down -
McEvans raised funds for a wildcat hole at the bottom of
the outmined mine - an bingo it hit more gold so the mine
got restarted - it has about a 700t/day mill and
ex.
compared to the QR-mill at 1000t/day -
QR-mill was put in by Kinross when gold was below $400.-
half of todays price range -
the ore body is open to deepth and the money is now spend
to make the incline to the high grade orebody -
it will take a few month for CNR to reach the high grade body -
but the ore trucks be able to drive to it -
to lode up with the higher grade ore then prev. mined -
Well, Got Gold..ex..CRN bargain -
one of Canada, BC large gold mines..dd..
fmy2pen....
http://www.crosslakeminerals.com/s/Home.asp
http://investorshub.advfn.com/boards/board.aspx?board_id=8158
God Bless
Article doesn't mention how gold did against everything else. Pretty well. Slight positive for the year versus BIG negatives for just about everything else.
So Gold performed as advertised just not as spectacular a rise as investors had hoped.
I am sorry to see that you like Crosslake. I had a few shares in an IRA. Can't even cover my commission with the "value" of my holdings. I bought them because they were a near term producer when gold was at $400/oz. They can't make money when gold is over $800?????
Something is wrong with this picture.
Good luck. Semafo continues to perform and is still undervalued. I also like WGW/WGI.to. Profitable and located in USA. CSM.to/SMC has been a big winner and still has multi-bagger upside.
Gold hit two historic milestones in 2008 -
First, in early March, the “yellow metal” hit its all-time
high of $1,030 an ounce -
Just three months later, the price of gold for December
delivery had plummeted to $681 an ounce, a 21-month low
and 33.9% drop from its record high -
Most gold bugs were equal parts puzzled and broken-hearted -
The world’s stock markets tanked, as did some of its
biggest economies.
In such an environment, they thought, gold should have risen.
After all, gold is widely considered to be a safe-haven
investment when everything else is spiraling south.
In the past year, commodities prices skyrocketed –
across the board.
That was especially true of oil, which hit a record high
$147 a barrel.
Corn, wheat, and soybeans all hit record highs, as well -
That price escalation tightened household and corporate
budgets, and was a primary reason why the U.S. economy
posted a gross-domestic product (GDP) decline of 0.3%.
With that negative growth, the third quarter was
the beginning of what many experts believe will be
the nation’s first recession since 2001 -
However, the inflation epidemic has waned significantly,
as global demand for raw materials has plummeted -
Price for such staple foods as corn, soybeans and wheat
have all come down from their record highs –
in near-lockstep fashion -
And not coincidentally, gold has fallen 22% in that same
time frame -
However, the pending commodities rebound – a projected
slow-and-steady increase in commodity prices that will
reverse the breakneck plunge below fair value that
commodities have experienced for much of this year -
The expected path of gold prices in the New Year -
Reveals another wild card inflationary indicator that may
carry gold prices to $1,500 an ounce by the end of 2009 -
How does this relate to gold? It drives up the price! -
Well, Got Gold..ex..CRN bargain -
one of Canada, BC large gold mines..dd..
fmy2pen....
http://www.crosslakeminerals.com/s/Home.asp
http://investorshub.advfn.com/boards/board.aspx?board_id=8158
God Bless
Citigroup says gold could rise above $2,000 next year as world unravels -
Gold is poised for a dramatic surge and could blast through $2,000 an ounce by the end of next year as central banks flood the world's monetary system with liquidity, according to an internal client note from the US bank Citigroup.
By Ambrose Evans-Pritchard
Last Updated: 7:29AM GMT 27 Nov 2008
woman with gold bar -
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/3526645/Citigroup-says-gold-could-rise-above-2000-next-year-as-world-unravels.html
Citigroup says gold could rise above $2,000 next year as world unravels
An employee of Tanaka Kikinzoku Jewelry K.K. displays a gold bar at the company's store in Tokyo Photo: Reuters
The bank said the damage caused by the financial excesses of the last quarter century was forcing the world's authorities to take steps that had never been tried before.
This gamble was likely to end in one of two extreme ways: with either a resurgence of inflation; or a downward spiral into depression, civil disorder, and possibly wars. Both outcomes will cause a rush for gold.
"They are throwing the kitchen sink at this," said Tom Fitzpatrick, the bank's chief technical strategist.
"The world is not going back to normal after the magnitude of what they have done. When the dust settles this will either work, and the money they have pushed into the system will feed though into an inflation shock.
"Or it will not work because too much damage has already been done, and we will see continued financial deterioration, causing further economic deterioration, with the risk of a feedback loop. We don't think this is the more likely outcome, but as each week and month passes, there is a growing danger of vicious circle as confidence erodes," he said.
"This will lead to political instability. We are already seeing countries on the periphery of Europe under severe stress. Some leaders are now at record levels of unpopularity. There is a risk of domestic unrest, starting with strikes because people are feeling disenfranchised."
"What happens if there is a meltdown in a country like Pakistan, which is a nuclear power. People react when they have their backs to the wall. We're already seeing doubts emerge about the sovereign debts of developed AAA-rated countries, which is not something you can ignore," he said.
Gold traders are playing close attention to reports from Beijing that the China is thinking of boosting its gold reserves from 600 tonnes to nearer 4,000 tonnes to diversify away from paper currencies. "If true, this is a very material change," he said.
Mr Fitzpatrick said Britain had made a mistake selling off half its gold at the bottom of the market between 1999 to 2002. "People have started to question the value of government debt," he said.
Citigroup said the blast-off was likely to occur within two years, and possibly as soon as 2009. Gold was trading yesterday at $812 an ounce. It is well off its all-time peak of $1,030 in February but has held up much better than other commodities over the last few months – reverting to is historical role as a safe-haven store of value and a de facto currency.
Gold has tripled in value over the last seven years, vastly outperforming Wall Street and European bourses.
--
FYI..ex..dd..
QR Gold Mine - one of the largest gold mine in B.C. -
(1000t/day) -
dd..
http://investorshub.advfn.com/boards/board.aspx?board_id=8158
http://www.crosslakeminerals.com/s/Home.asp
God Bless
Sutter Gold Mining (Tier2) (TSX:SGM)fiat(CAD)$ 0.085 UP $0.005 (+6.25%)
Bid 0.055
Ask 0.085
Volume 49,000
Day's Range 0.08 - 0.085
Click for Detailed Quote Page
Last Trade:15:56:22 EST Nov-26-08
http://investorshub.advfn.com/boards/board.aspx?board_id=6350
God Bless
Sutter Gold Appoints New President and CEO -
Monday September 15, 3:40 pm ET
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 15, 2008) -
Sutter Gold Mining Inc. -
(TSX VENTURE:SGM - News; "SGM" or the "Company") is pleased
to announce that Mr. Clayr Alexander,
has been appointed as President and CEO of the Company.
Hal Herron will continue as the Company's President and CEO
until Mr. Alexander joins the Company full time at
the end of October.
Mr. Alexander is a mining engineer and senior mining
professional with over 30 years experience in virtually
all aspects of the mining industry from mine permitting
and development to project construction and operations.
He has spent 20 years in senior technical and later
management positions with Stillwater Mining Company, and
has served as an independent consultant.
Most recently, with Kinross Gold Corporation, he played
a key role in the timely development and construction of
the Kupol mine in Far East Russia as Deputy General Manager.
Mr. Alexander will be responsible for all aspects of
the Company's growth and development with the focus
on advancing -
the Sutter Gold Project near Sutter Creek, California, -
which is centrally located within a 10-mile section of
the Mother Lode Belt where over 7 million ounces have
been produced from 16 historic mines.
The Sutter Gold Project -
hosts a current NI 43-101 compliant (February 2008)
indicated resource of 673,600 tons grading 0.33
(uncut) ounces of gold per ton (11.3 g/t) for
223,044 contained ounces and an inferred resource
of 2.38 million tons grading 0.19 (uncut) ounces of gold
per ton (6.6 g/t) for 458,914 contained ounces.
The Company has received all the major permits required
by the State of California and Amador County for
the development and operation of an underground
gold mine and milling facility.
With Mr. Alexander's appointment,
the immediate efforts of the Company will be:
- Feasibility studies including completion of a comprehensive
geologic data base and models (geologic and grade) in
support of detailed mine development and production profile.
Confirmatory metallurgical test work for defining a final
process flow sheet, equipment selection and construction
costing for the processing facility. Completing required
monitoring, waste material handling procedures and final
reclamation plans for incorporation into
SGM's existing permits.
- Recruitment of remaining senior management and systems
for the establishment of a standalone corporate office,
including a CFO and COO as well as operating management;
and,
- Focused investor relations and marketing efforts to ensure
the investment community understands the Company,
project feasibility, development plans and the inherent
value of the Company's assets.
Mr. Alexander commented, "The Sutter Gold Project is a
solid foundation on which to advance the Company as
an emerging gold producer.
The Sutter Gold Project -
has been the subject of multiple non NI 43-101 prefeasibility
assessments since the late 1990s that provide the basis
for final feasibility evaluation of developing a mining
operation on the Lincoln-Comet portion of the Project,
indicated resource of 511,700 tons at 0.37 (uncut) ounces
per ton (12.6 g/t) and drill indicated inferred resource of
194,100 tons at 0.28 (uncut) ounces per ton (9.5 g/t).
The production opportunity is similar to the historic
underground mining of narrow veins that has occurred
along the Mother Lode structure and
exhibits excellent metallurgy.
Narrow vein mines are always challenging but the situation
at Sutter Creek is certainly much more favorable than
much of the underground development and mining I have
been associated with in the past.
Permitting is in its final stages and continues to be
well managed by the Sacramento office of Golder Associates.
Less than an acre (0.77 acres) has been identified
as perennial wetlands and will require a Section 404
wetlands permit under the Clean Water Act.
Indication from the US Army Corps of Engineers,
responsible for administering Section 404, is for
a 9 month permitting process.
Final Waste Discharge Requirements (WDR) will be included
in the final reclamation design and monitoring plans. Permitting is not expected to negatively impact the project's development schedule.
The final feasibility study will assess developing and mining
these resources at a nominal 300 to 500 tons per day
processed through a simple gravity separation circuit
followed by flotation to produce a gold concentrate that
will be shipped for final processing to a Nevada facility.
As such, Sutter Gold Mine -
will be one of the most environmentally responsible and
sound mining operations in the Western United States
while benefiting the local community and economy.
Sutter Gold is committed to developing our operations in
a socially and environmentally responsible manner.
Finally, I would like to thank Hal Herron for his past efforts in bringing the Company to a point where feasibility and development considerations are the focus at the Sutter Gold Project and an exciting exploration program is being executed by our joint venture partner Premier Gold at the El Alamo Project in Baja Mexico."
Mr. Mark Payne, P.Geo. Calif. 7067, is the Qualified Person for the Sutter Gold Project, as defined by NI 43-101, and has reviewed this release.
About Sutter Gold Mining Inc.
Sutter Gold Mining Inc. is a junior gold exploration and development company pursuing the goal of becoming an emerging producer through the evaluation of the development of the Lincoln-Comet zone of the Sutter Gold Project on the California Mother Lode. SGM controls 3.2 miles of the Mother Lode where 90% of the property has not been explored despite the definition of nearly 700,000 ounces of indicated and inferred resource. Unexplored potential exists at depth on the known zones, on both the foot wall and hanging wall of the Mother Lode and on the Melones Fault, the principal regional structure giving rise to the Mother Lode that exists on the eastern portion of SGM's property package. In Mexico, SGM holds rights to the geologically similar, high grade El Alamo district of northern Baja where historic mining to the water table produced mined grades of 30 to 60 g/t. Initial exploration in joint venture with Premier Gold has demonstrated the extension of high grade veins on strike and at depth and a second phase of drilling will soon commence.
Hal Herron, President, CEO and Director
This news release was prepared by Company's management who take full responsibility for content.
The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy or accuracy of this release.
Contact:
Hal Herron
Sutter Gold Mining Inc.
CEO
(307) 851-2742
Email: herron3@yahoo.com
Website:
http://www.suttergoldmining.com
Source: Sutter Gold Mining Inc.
http://investorshub.advfn.com/boards/board.aspx?board_id=6350
God Bless
Semafo, SMF.to/SEMFF.pk C$1.15
I think this is very undervalued. Producing gold in West Africa from three mines. Produced 54,000 oz in Q2 and .05eps.
New ball mill at their newest mine has effectively doubled capacity. Produced 7800 oz at Mana in July, 10,000 oz in August. Total company production was 18,000 oz in july and 20,000 in August. This year production should be in the 180,000 oz range with full year production of 240,000 likely for 2009. Exploration upside at Mana.
http://biz.yahoo.com/cnw/080812/e_semafo_q208_results.html?.v=1
New Ball Mill at Mana Increases Production
MONTREAL, Sep. 4, 2008 (Canada NewsWire via COMTEX News Network) --
SEMAFO TSX-SMF
Semafo Inc. (TSX: SMF) is pleased to announce that the new larger ball mill is now in full operation at its Mana mine in Burkina Faso, with a throughput rate reaching 4,000 tonnes per day. This represents an increase of almost 100 percent over the smaller ball mill throughput.
"Once again, we are delighted with the progress of operations at Mana," said Benoit Desormeaux, Semafo's Executive Vice-President and COO. "The new ball mill was expected to reach plant throughput of 4,000 tonnes per day by the beginning of September and we are pleased to confirm that we have attained this significant milestone."
"The operating team effectively managed and maintained production, not only during the installation of the larger ball mill, but through a particularly heavy rainy season," said Benoit La Salle, President and CEO. "The efforts and commitment of our operating team, as part of our growth strategy, resulted in another monthly production record of 10,200 ounces of gold in August at Mana."
The company's total production for the month of August represents a new corporate record of 20,000 ounces of gold.
About SEMAFO
Semafo is a Canadian-based mining company with gold production and exploration activities in West Africa. The Company currently operates three gold mines in Burkina Faso, Niger and Guinea. Semafo is committed to evolve in a conscientious manner to become a major player in its geographical area of interest, while maintaining principles and strengthening relationships to increase shareholder value.
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding expectations of the Company as to the market price of gold, strategic plans, future commercial production, production targets, timetables, mining operating expenses, capital expenditures, and mineral reserve and resource estimates. Forward-looking statements involve known and unknown risks and uncertainties and accordingly, actual results and future events could differ materially from those anticipated in such statements. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, fluctuations in the market price of precious metals, mining industry risks, uncertainty as to calculation of mineral reserves and resources, risks related to hedging strategies, risks of delays in construction, requirements of additional financing and other risks described in the Company's documents filed from time to time with Canadian securities regulatory authorities. Although the Company is of the opinion that these forward-looking statements are based on reasonable assumptions, those assumptions may prove to be incorrect. Accordingly, readers should not place undue reliance on forward-looking statements. Readers can find further information with respect to risks in the Annual Information Form of the Company and other filings of the Company with Canadian securities regulatory authorities available at www.sedar.com. The Company disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.
SOURCE: SEMAFO INC.
SEMAFO: Benoit La Salle, President & CEO, (514) 744-4408, blasalle@semafo.com; Renmark: Maurice Dagenais: mdagenais@renmarkfinancial.com; Jason Roy: jroy@renmarkfinancial.com, (514) 939-3989, Fax: (514) 939-3717; www.renmarkfinancial.com
Copyright (C) 2008 CNW Group. All rights reserved.
Aurizon Reports Exploration Progress at Casa Berardi -
Tuesday September 2, 9:00 am ET
Shares Listed: Toronto Stock Exchange - Ticker Symbol - ARZ
American Stock Exchange - Ticker Symbol - AZK
U.S. Registration: (File 001-31893)
http://biz.yahoo.com/prnews/080902/to382.html?.v=48
VANCOUVER, Sept. 2 /PRNewswire-FirstCall/ - Aurizon Mines Ltd. (TSX: ARZ - News; AMEX: AZK - News) is pleased to provide a progress report on exploration activities at its Casa Berardi mine, in north-western, Quebec.
An exploration drift is being developed at the 810 metre level, east of Zone 113 and south of the Casa Berardi fault, to initially provide drill access to test the depth extension of Zone 113 and to eventually test the continuity and extension of Zones 118 to 122 and 123-South. A sketch is attached showing the current progress of development along the drift and the location of recent drilling from the existing production drift. Drilling will resume shortly from the 810 metre exploration drift once the drill stations are completed.
Results from the following five (5) recently completed holes have extended Zone 113 approximately 50 metres east of the current mineral reserve outline, at a depth of approximately 830 metres.
-------------------------------------------------------------------------
Gold Grade
(grams per tonne) Thickness (metres)
Hole (uncut) True Width
-------------------------------------------------------------------------
CBW-810-0038 10.7 16.6
-------------------------------------------------------------------------
CBW-810-0037 7.9 7.8
-------------------------------------------------------------------------
CBW-810-0043 13.5 7.1
-------------------------------------------------------------------------
CBW-790-0014 23.3 3.6
-------------------------------------------------------------------------
CBW-810-0039 20.4 1.6
-------------------------------------------------------------------------
"We are encouraged by these drill results," said David Hall, President and
C.E.O. "The construction of the 810 drift is a significant development for
Casa Berardi as it will enable us to drill for future mineral reserves in the
deeper part of the West Mine area."
In addition, the following exploration activities at Casa Berardi are
currently underway:
- Drilling has commenced from the rehabilitated track drift on the 280
metre level in the area of the Principal Zones and between the East
and West mines, where limited surface exploration has been performed
to date.
- An updated 3D geological model for the Principal Zones has been
completed in order to prepare an updated mineral resource estimate
for the technical and economic evaluation of open pit and underground
mining opportunities.
- At the East Mine, the rehabilitation of the underground workings is
nearly complete. Definition drilling will commence shortly with the
objective of transferring the inferred mineral resources to the
indicated category and ultimately to mineral reserves.
- A surface drilling program has commenced along the eastern extension
of Zone 123.
Quality Control
Core assays are performed on a maximum 1.5 metre sample. Sample preparation is performed at the Company's facility located at the mine site. The drill cores are sawed in half and assays are determined with the atomic absorption method. Certified reference material and blanks are inserted in the sample sequence for quality control. Assay checking on the pulp and reject samples are carried out systematically. Primary assaying is performed at the Company's mine site laboratory and confirmatory check assays are carried out by ALS Chemex of Val d'Or, an accredited laboratory.
Drill hole planning, implementation and the quality control program is supervised by Jeannot Boutin Eng., Mine Geology Superintendant, an appropriately qualified person as defined by National Instrument 43-101. Mr. Boutin also supervised the preparation of the scientific and technical information in this news release.
Additional Information
One sketch is attached showing the Casa Berardi mine. All other information previously released on Casa Berardi is available on the Aurizon website.
To view the sketch accompanying this release please click on the following link:
http://files.newswire.ca/734/AurizonCasaBerardi.pdf
About Aurizon
Aurizon is a gold producer with a growth strategy focused on developing its existing projects in the Abitibi region of north-western Quebec, one of the world's most favourable mining jurisdictions and prolific gold and base metal regions, and by increasing its asset base through accretive transactions. Aurizon shares trade on the Toronto Stock Exchange under the symbol "ARZ" and on the American Stock Exchange under the symbol "AZK". Additional information on Aurizon and its properties is available on Aurizon's website at http://www.aurizon.com.
FORWARD-LOOKING STATEMENTS
This News Release contains "forward-looking statements". These forward-looking statements include, but are not limited to, statements regarding mineral resources and reserve estimates, planned work programs and expected outcomes. Forward-looking statements express, as at the date of this News Release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and the Company does not intend, and does not assume any obligation to update these forward-looking statements. Forward-looking statements are based on certain assumptions, including, with respect to mineral resource estimates, the key assumptions and parameters on which such estimates are based, as set out in the technical report for the property, and involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold; possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and other risks more fully described in Aurizon's Annual Information Form filed with the Securities Commissions of the provinces of British Columbia, Alberta, Manitoba, Ontario and Quebec, and in Aurizon's Annual Report on Form 40-F filed with the United States Securities and Exchange Commission. These documents are available on Sedar at www.sedar.com and on Edgar at www.sec.gov.
CAUTIONARY NOTE TO US READERS
As a British Columbia corporation, the Company is subject to certain rules and regulations issued by the British Columbia Securities Commission ("BC Securities Commission"). The Company is required to provide detailed information regarding its properties including mineralization, drilling, sampling and analysis, security of samples and mineral resource and mineral reserve estimates. Further, the Company describes mineral resources associated with its properties utilizing terminology such as "indicated" or "inferred" which terms are recognized by Canadian regulations but are not recognized by the United States Securities and Exchange Commission ("SEC").
Cautionary Note to U.S. Investors Regarding Mineral Resources
The SEC allows mining companies, in their filings with the SEC, to disclose only those mineral deposits they can economically and legally extract or produce. The Company may use certain terms in this document, such as "mineral resources", "indicated mineral resources" and "inferred resources" that are recognized and mandated by Canadian securities regulators but are not recognized by the SEC.
This News Release may use the term "indicated" resources. U.S. readers are cautioned that while that term is recognized and required by Canadian regulations, the SEC does not recognize it. U.S. investors are cautioned not to assume that any part or all of mineral deposits in this category will ever be converted into mineral reserves.
This News Release may also use the term "inferred" resources. U.S. readers are cautioned that while this term is recognized and required by Canadian regulations, the SEC does not recognize it. "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.
Source: Aurizon Mines Ltd.
http://biz.yahoo.com/prnews/080902/to382.html?.v=48
God Bless America
Sutter Gold Mining (Tier2) (SGM) $0.17 Change: $0.015 (9.68%)
Volume: 22,000
14:18:12 EDT
Jun-26-08
http://ih.advfn.com/p.php?pid=nmona&cb=1214546492&article=26857520&symbol=TX%5ESGM
God Bless
Moneta Releases NI 43-101 Resource Estimate on Windjammer Gold Property
Friday June 13, 5:53 pm ET
TIMMINS, ONTARIO--(Marketwire - June 13, 2008) -
Moneta Porcupine Mines Inc. -
("Moneta") (TSX:ME - News; FRANKFURT:MOP - News; XETRA:MOP - News) is pleased to announce that it has received an initial independent mineral resource estimate for
the Windjammer South Zone ("Windjammer South") on its
Golden Highway Project.
The independent resource estimate was prepared by Cargill Consulting Geologists Limited ("Cargill") and complies with National Instrument (NI) 43-101 and Canadian Institute of Mining (CIM) guidelines for reporting mineral resources. It will form part of a report entitled "Technical Report on the Windjammer Project, Michaud and Garrison Townships, Ontario" to be filed on SEDAR.
The mineral resource estimate indicates that Windjammer South contains an Inferred Resource of 154,000 ounces of gold at an average grade of 2.3 grams/tonne ("g/t") based on 2.1 million tonnes. The estimate uses a cut-off grade of 1 g/t gold which was determined by Cargill as appropriate for a small tonnage potential mining operation in this location. Windjammer South remains open to both the east and the west of the mineralized strike and is completely open at depth as the deepest mineralized intervals used in the resource estimate lie between 250 and 300 metres.
The Inferred Resource is on strike from Moneta's 100%-owned Southwest Zone, which hosts an inferred historical resource of approximately 625,000 ounces of gold calculated by Barrick Gold Corporation (see "Historical Resource Estimate" below and Moneta Porcupine Mines Inc.: Meixner Report, SEDAR filing on April 21, 2005) and is located 1 km. from Windjammer South. Moneta plans to drill on the Southwest Zone later in the year and a resource estimate is expected in the coming months on this property as well.
Rod Whyte, Chairman of Moneta, commented "We are extremely pleased to be able to announce an initial NI 43-101 resource estimate for Windjammer South. This initial estimate is based on a limited amount of historical drilling on relatively wide spacing and we expect to be able to expand the resource significantly as we ramp up our drilling activity on the Golden Highway Project over the rest of 2008. Importantly, we are now ready to commission a NI 43-101 resource estimate on our prime asset, the nearby Southwest Zone".
NI 43-101 Mineral Resource Estimate and Methodology
----------------------------------------------------------------------------
Total Contained
Average Tonnage Gold Contained
ESTIMATE Gold Grade (million (million Gold
TYPE PARAMETER (g/t) tonnes) grams) (ounces)
----------------------------------------------------------------------------
Polygon 50m down/up dip 2.3 2.7 6.3 204,000
----------------------------------------------------------------------------
Polygon(4) 25m down/up dip 2.3 2.1 4.8 154,000
----------------------------------------------------------------------------
Block Model ID(3) 25m radius 1.7 2.0 3.4 109,000
----------------------------------------------------------------------------
Block Model ID(2) 25m radius 1.7 2.0 3.3 107,000
----------------------------------------------------------------------------
Block Model ID(3) 50m radius 1.6 3.9 6.2 199,000
----------------------------------------------------------------------------
Table 1. Resource Estimate Results
1. Minimum compositing intersection width of 2 metres which is equivalent to
a true width of about 1.5 metres.
2. Minimum compositing intersection width of internal waste of 2 metres.
3. A specific gravity value of 2.81 being the average value of 25 core
samples measured at Swastika Laboratories.
4. The Polygon Method extending 25m up/down dip is the highest confidence
estimate and can be classified as an Inferred Resource.
The NI 43-101 resource estimate was developed over a 400-metre drilled strike length from 29 drill holes completed to-date on Windjammer South. A polygon-based method with 25-metre step-outs up-dip and down-dip from mineralized intersections was used as the basis for the NI 43-101 calculation with several other methods evaluated and used to confirm the results.
Geological data from core logs and composited mineralized intervals were plotted on a series of cross-sections across a 400-metre east-west trending strike length. Ten of the sections are separated by 25 metres and the two most easterly sections were plotted at 75 and 100 metres, respectively. The same information was also plotted on a series of (horizontal) plans with 50-metre separations. The mineralized zones were interpreted on the individual sections and continuity along strike was determined using the plans. Polygons were constructed based on the individual mineralized sections and extended 25 metres up and down dip.
A second methodology was evaluated based on establishing broad polygons using a 0.5 g/t cutoff to delineate the mineralized zones and a block model was developed. The grades of each block were estimated using Inverse Distance Squared (ID2) and Inverse Distance Cubed methods (ID3) at both 25 and 50-metre search radii using a 1 g/t gold cutoff. Block size was 5 metres on each side and the search ellipse was oriented vertically with the minor axis being one-half of the major axis. The results indicate that there is essentially no difference between the polygon and block model methods.
The results of five estimation methods evaluated are presented in Table 1 above. The best results were 204,000 ounces of gold from 2.7 million tones at an average grade of 2.3 g/t using a 50-metre step-out up and down dip. Cargill has indicated the greatest confidence in the polygon-based estimate using a 25-metre down/up dip extension to provide an Inferred Resource of 154,000 ounces.
Windjammer South
Windjammer South is now part of Moneta's Golden Highway Project which lies approximately 90 km. east of Timmins, Ontario, after a controlling interest in the Windjammer Joint Venture was acquired in November 2007 from Newmont Canada Limited. The Windjammer Joint Venture holds two mining leases comprising 22 mining claims in Garrison and Michaud Townships straddling the Destor Porcupine Fault Zone and covering 356 hectares. Prior drilling from 1987 to 1989 by Noranda Inc. (53 drill holes totaling approximately 19,400 metres) identified widespread gold mineralization in a number of zones and resulted in two separate gold discoveries, Windjammer South and Windjammer North, which have had little further development in the intervening period.
Windjammer South in combination with the Southwest Zone and the 55 Zone held by the Michaud Joint Venture form the "Southern Corridor" of the Golden Highway Project and represent a strike length of approximately four km. with gold mineralization occurring within altered Timiskaming sediments along the entire length. Several exploration holes drilled in the area between Windjammer South and the Southwest Zone produced intersections and grades similar to those found in both zones and were not followed up with further drilling.
Wide mineralized alteration zones in Windjammer South typically contain gold values ranging between 0.5 grams/tonne (g/t) and 2.0 g/t, as well as intervals with much higher gold values. Narrow gold intercepts with elevated grades are seen throughout reflecting scattered stringers and veins. Gold grades tend to increase approaching a banded iron formation which is generally interpreted as the sub-vertical northern boundary of the mineralization. A similar style of mineralization is found in the nearby Southwest Zone and analysis of the prior drilling and digital modeling of Windjammer South indicate that the deposit is part of the same geological system as the Southwest Zone.
The acquisition of the Windjammer property has enabled Moneta to explore and develop the area on an integrated basis. A recent three-hole drill program was completed on Windjammer South which confirmed historical drilling on the property. WMJ07-03 was drilled into a historically untested area in the centre of Windjammer South and returned 47.3 metres (drilled width) grading 2.21 g/t.
Moneta has recently commenced a drill program on the Southern Corridor of the Golden Highway Project which is drilling initially on Windjammer South and is expected to continue on other zones to the end of 2008. Its overall objective is to extend known mineralized zones and evaluate new targets along the Southern Corridor. Moneta also recently completed an eight-hole drill program on the '55' Zone under the Moneta-Acrex (50/50) Michaud Joint Venture to better define and extend the gold mineralization in hat area. Final assay results are pending.
Qualified Persons
Cargill is an independent geological consulting firm of which George Cargill, Ph.D., P.Eng., is the principal consulting geologist and Qualified Person for the NI 43-101 Inferred Resource contained in this press release. In early 2008, Moneta engaged Cargill to prepare an initial independent technical report compliant with NI 43-101 guidelines and complete an initial independent estimate of the mineral resources in Windjammer South. The NI 43-101 technical report will be filed on SEDAR within 45 days.
The resource estimate prepared by Cargill was based on a three-dimensional (3-D) geologic and mineralization model that integrated over 9,412 meters of drilling in 29 holes and included a block model. This drilling has been audited and validated by Cargill in accordance with CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines and with NI 43-101 guidelines.
The technical content of this release has been reviewed by Rainer Skeries, P.Geo., Moneta's Consulting Geologist. By virtue of their academic backgrounds and professional experience, Mr. Cargill and Mr. Skeries are both "qualified persons" as defined by NI 43-101.
About Moneta
Moneta (TSX:ME - News) is a long-established Canadian gold exploration company and former gold producer. The Company holds an extensive, high-quality exploration portfolio with four primary gold projects in the prolific Golden Highway and Porcupine Camps near Timmins, Ontario. Moneta's gold projects are all on or near the famous Destor Porcupine Fault Zone, which is the key structural feature of one of the most prolific gold-producing areas in the world with over 70 million ounces of gold produced to-date.
Moneta's exploration focus is on the "Southern Corridor" of its Golden Highway Project, which hosts at least 4 km. of mineralized strike length. The Company is operated by an experienced geological and management team which maintains a low-cost, efficient Timmins-based exploration operation with its own field office and equipment.
Historical Resource Estimates
Moneta's projects include properties with historical resource estimates which are not compliant with NI 43-101. These estimates are sourced from various government and company archives which provide information on the geology and extent of the mineralization. It should be noted that a "qualified person" has not done sufficient work to classify the historical estimate as a current mineral resource or mineral reserve. Moneta is not treating the historical estimates as current mineral resources or mineral reserves as defined by NI 43-101 and historical estimates should not be relied upon.
This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.
The TSX does not accept responsibility for the adequacy or accuracy of this release.
Contact:
Rod Whyte
Moneta Porcupine Mines Inc.
Chairman
(44) 207 736 2212
Email: rodwhyte@btinternet.com
Kevin Snook
Moneta Porcupine Mines Inc.
President & Chief Executive Officer
(416) 861-1300
Email: info@monetaporcupine.com
Website:
http://www.monetaporcupine.com
Source: Moneta Porcupine Mines Inc.
http://biz.yahoo.com/ccn/080613/200806130468461001.html?.v=1
http://investorshub.advfn.com/boards/board.aspx?board_id=5495
Gold as a Reserve Asset -
http://www.reserveasset.gold.org/
God Bless
Gold Stocks - Five Data Points to Remember -
http://www.kitco.com/ind/Gerbino/may232008.html
God Bless
GPGD looking to run IMO...Im thinking were going to see .02 tomorrow, in the advance of the Amerossi Oil buyout...take a look at the chart...it's picking up some volume for sure.
advance
One would think this would be easy to find, but I have not had any luck yet. Where can I find the limit-up values for silver, gold, palladium, & platinum?
-David
Franklin Mining Inc. (FMNJ) $ 0.0062 +0.0007 (+12.73%)
Volume: 20.68 m
12:45 PM EST Feb 15, 2008
FMNJ has good volume interest today -
Imo. Tia.
God Bless
http://investorshub.advfn.com/boards/board.asp?board_id=5406
you absolutely read my mind with NXG...I have that one in my portfolio.
If you like NXG, check out GSS. GLTY
NXG - Quarterly gold production of 41,467 ounces bringing total 2007
production to 245,631 ounces;
- Quarterly copper production of 16.8 million pounds bringing total
2007 production to 68.1 million pounds; and,
Ex. - Quarterly gold net cash cost of $48 per ounce bringing annual net
cash cost to negative $16 per ounce of gold for all of 2007
bringing total 2007 gold production to 245,631 ounces;.
excellent - must make Northgate to be one of the lowest
cost gold producer in the world -
Imo. Tia.
God Bless
http://www.northgateminerals.com/NewsReleases/NewsReleaseDetails/2008/Northgatereportsfourthquarteroperatingresultsandproductionforecastfor2008/default.aspx
gold might move higher now that "official" recession news is out
I like the gold ETFs like GLD, DGL, DBP but thats just me! =)
Roxmark files NI 43-101- compliant report -
Independent geologist calls for underground drilling,
production by Roxmark Mines at Northern Empire Mine
Thursday January 3, 1:29 pm ET
TORONTO, Jan. 3 /CNW Telbec/ -
Roxmark Mines Limited -
(TSXV - RMK) today announced that the NI 43-101-compliant
Report "Qualifying Report for the Northern Empire Mine",
dated December 12, 2007 and prepared by Peter Bevan,
P. Eng., has been filed on SEDAR and is available at
the Company's website.
The independent geological report recommends an aggressive
program of underground drilling and production subject
to feasibility study at the Northern Empire Mine,
in addition to the surface drilling program
previously announced.
The Bevan report also states that:
<<
- The Contact Zone has gold mineralization potential
of 1,250 metres -
(apparent strike length of 1,450 metres,
less the 200 metres explored to date).
- To date, only the top 100 meters have been drill tested
at the Contact Zone, in a system known to host good
gold mineralization to a depth of more than 600 meters.
- In the recent drilling program, covering 200 meters
from 7+00E to 9+00E, the Contact Zone contains almost
triple the tonnage and twice the contained gold of
the Power Zone.
(See Roxmark news release dated November 20, 2007).
- The likelihood of other gold bearing zones and
parallel structures
(like the Temiskaming Contact Zone) is good.
- Based on historical production on veins that were open
at depths of 2,075 feet, substantial additional
potential exists, conceptually, in the Contact Zone
and parallel structures far below the diabase sill.
Among the Report's recommendations are:
- A $1.1 million 98-hole, Phase I - 6,125-meter surface
drilling program on the Contact Zone, which Roxmark
intends to carry out in Winter 2008.
- A $900,000 - 49-hole Phase II surface drilling program
scheduled for the summer of 2008.
- A $10.3-million program (scheduled for late 2008)
to re-open the mine-dewatering to 2,460 feet,
drifting in the two vein structures,
completing a 5,000-ton underground bulk sample,
and carrying out underground drilling to east and
west of the existing shaft-putting
Roxmark -
in position to continue with full-scale underground mining,
subject to completing a positive feasibility study.
>>
"Our assessment, which is conceptual in nature, indicates
that potential from the Contact Zone could be in
the neighbourhood of 300,000 oz., based on the
report's findings and using an average grade of 0.35 oz/t Au."
said Monir Younan, President.
(This assessment is based on insufficient exploration work
to define resources and uncertainty if further exploration
will result in outlining mineral resources).
Younan also reiterated that Roxmark's objectives are to
bring the Northern Empire Mine-prioritized for development
over other Roxmark properties based on its lower capital
cost and logistical advantages-to commercial production
quickly, while actively continuing to delineate resources
at other properties both unilaterally and through
joint ventures.
In a previous news release, Roxmark announced that it is in
the process of engaging a contractor for a winter
field drilling program to test the additional known
strike length still undrilled on the west extension
of the Contact Zone.
In addition, the company is proceeding with all
necessary steps, including mine planning, permitting,
and employee training, to stay on schedule toward
reopening of the Northern Empire Mine in late 2008.
The Mine was operated successfully by Newmont Mines
from 1934 to 1941 and was serviced by a shaft to a
depth of 2,460 feet, producing 149,000 ounces of gold
from 426,000 tons of ore at a recovered grade
of 0.35 oz/t Au.
The onsite 200TPD mill (expandable to 500TPD) was built
in 1982 and upgraded and permitted by Roxmark.
It processed gold and molybdenum ores in 2005 and
2006, respectively.
The Northern Empire Mine -
is located in the Town of Beardmore,
approximately 200 km northeast of Thunder Bay
and serviced by the Trans-Canada Highway.
Accessibility of all Roxmark properties,
which include the Nortoba-Tyson property
(a new source of gold and molybdenum),
is a significant economic advantage.
Further field work is planned for these other properties
in 2008, including drilling of promising gold showings
at Nortoba-Tyson.
This news release has been reviewed and approved by
Peter Bevan, a qualified person in accordance with
NI 43-101.
About Roxmark Mines
Roxmark Mines Limited is the leader in gold and molybdenum
exploration and development in the historically
significant Geraldton-Beardmore area of Northwest Ontario.
In the last two years, Roxmark has generated cash flow
from bulk-sampled gold and molybdenum processed at
its fully-permitted mill and has the advantage
of infrastructure from six formerly highly productive
gold mines located on its properties.
These mines previously produced nearly two million ounces
of gold from high grade ore but were closed primarily due
to dramatically lower gold prices at the time and to
boundary issues, since eliminated.
Three of our mines in the Beardmore camp processed a total
of 1.5 million tons of ore that produced in excess of
one million ounces of gold, with an average recovered
grade of 0.70 oz. Au/ton.
Further information is available on Roxmark's website at
http://www.roxmark.com
and on SEDAR under the Roxmark's profile at
www.sedar.com.
Forward-Looking Statements
This news release includes certain "forward-looking statements". Such forward-looking statements involve risks and uncertainties. The results or events predicted in these forward-looking statements may differ materially from actual results or events. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, Roxmark disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this news release.
For further information
Monir Younan, President,
Roxmark Mines Limited,
Tel: (416) 860-1636,
Fax: (416) 360-7355,
roxmark@on.aibn.com,
http://www.roxmark.com
Source: Roxmark Mines Limited
http://finance.yahoo.com/q?s=RMK.V
http://investorshub.advfn.com/boards/board.asp?board_id=1499
Copper Canyon Resources Ltd. (V.CPY) $ 0.425 -
0.04 (+10.39%) Volume: 99.1 k -
3:40 PM EST Jan 16, 2008 -
God Bless
http://investorshub.advfn.com/boards/read_msg.asp?message_id=26017939
http://investorshub.advfn.com/boards/board.asp?board_id=11317
Roxmark Mines Ltd.. (V.RMK) $ 0.22 - 0.005 (+2.33%)
Volume: 127.5 k
11:01 AM EST Jan 14, 2008
http://investorshub.advfn.com/boards/quotes.asp?ticker=v.rmk
http://investorshub.advfn.com/boards/board.asp?board_id=1499
Gold, Precious & Base Metal Plays -
GOLD | TECHNOLOGY | DJIA
38099902 = GOLD | XCI = Technology Index | 26099400 = Dow Jones Industrial Average -
PY, GBP, AUD, EUR, CAD & Gold - Afternoon Fix (Source N M Rothschild) (INDEX) -
3 YEAR WEEKLY GOLD CHART COMPARED TO THE CURRENCIES BELOW -
Gold remains the time-honored standard of wealth -
that no other currency can match.
dd....
http://www.publicgold.com/tryit
dd....
http://www.PublicGold.com/tryit.net
The Financial System Is A Farce -
http://www.sprott.com/pdf/marketsataglance/10_2007.pdf
by Eric Sprott who spells it our clearly -
All commentary welcome on Gold, precious and base metal investing.
If it's mined from the ground its fair game for discussion.
Primary emphasis to be on junior companies, with company DD encouraged.
Metals markets and current events related to these stocks.
http://tinyurl.com/2ewyo7
http://tinyurl.com/yjwpjo
Gold, Silver, Platinum -
Precious Metals and base metal links -
GOLD (Au) PRODUCERS -
http://www.investorshub.com/boards/board.asp?board_id=5404
COPPER (Cu) PRODUCERS
http://www.investorshub.com/boards/board.asp?board_id=5405
SILVER (Ag) PRODUCERS
http://www.investorshub.com/boards/board.asp?board_id=5406
PLATINUM (Pl) PRODUCERS
http://www.investorshub.com/boards/board.asp?board_id=5407
PRECIOUS METAL PRODUCERS
http://www.investorshub.com/boards/board.asp?board_id=5408
Black Gold Mining -
http://www.investorshub.com/boards/board.asp?board_id=5409
Banking cartel info -
http://www.netcastdaily.com/broadcast/fsn2006-1028-2b.m3u
General Rules:
All sincere comments and opinions concerning this sector are welcome.
No bashing will be allowed.
Lively discussions are premitted as long as they remain non-personal.
Name calling is not going to be allowed.
SPAM away on any mining play you want.
Moderator Thoughts:
Remember no bad stocks will be attacked by the 666 bashers -
anti-US and anti-Christians - the neg. 9/11 -
terror bashers - only want to destroy all good stocks -
http://messageboardfools.com/bashers.htm
If you find that you can not sleep -
from worrying about the security -
Then you are over your head and may need to -
readjust until you can calm down -
think about the Chinese will be happy to pick up -
all goddess here for peanuts -
the Tv, news and movie 666 media trying brain washing most
to become their owg nutcase without the future -
invest at your own risk, based on your own DD -
and only at your risk tolerance level -
TIA.
Aaron Russo Interview -
http://video.google.com/videoplay?docid=-3254488777215293198
http://www.netcastdaily.com/broadcast/fsn2006-1118-1.m3u
Those who make peaceful REVOLUTION impossible will
make violent REVOLUTION inevitable.
- John F. Kennedy
Shut Down The Federal Reserve: Save America!
http://www.ipetitions.com/petition/AFTF_P_1/
†With God all things are possible†
by: todd h
ROB-TV in exposing the Gold price suppression scheme -
http://www.youtube.com/watch?v=GbPetrK_6Lc&mode=related&search=
Join GATA -
http://www.GATA.org.
Gold Show -
2007 Vancouver Resource Investment Conference
Vancouver Convention and Exhibition Centre
Sunday and Monday, January 21 and 22, 2007
http://www.cambridgeconferences.com/ch_jan2007.html
2007 Outlook for Gold and Silver -
http://tinyurl.com/ueno9
of GoldSeek.com and SilverSeek.com says that
dollar weakness could push up price...
Gold Bullion Weekly compared to fiat Currency Chart Page -
http://www.sim.org/
http://www.flw.com/merry.htm
http://www.victorious.com/reports/ccane.htm
The Fiat Money System -
Dr. Bill Veith in studio w/ Alex Jones -
http://tinyurl.com/y3gdzh
http://www.vatican.va
http://tinyurl.com/365wag
Second wave LT trend started - of the 5-wave Elliott pattern -
This Gold bull market rise is going to make the 1970s
spectacular rise look small in comparison.
It will take time, but it's powerful because it's more
of a global market today compared to the 1970s.
By Aden sisters.
Gold - Afternoon Fix (Source N M Rothschild) (INDEX) -
AMEX - Gold Bugs Index (INDEX)
Phlx - Gold Silver Index (INDEX)
GOLD the real value about fiatz$35,000.-/oz today....
THE AMERO IS REAL, I HAVE ONE TO PROVE IT! (Hal Turner) -
http://www.halturnershow.com/AmeroCoinArrives.html
http://freedom4um.com/cgi-bin/readart.cgi?ArtNum=60787
Dollar hits new low versus euro -
http://news.bbc.co.uk/2/hi/business/6992570.stm
Useful PM related sites:
http://www.24hgold.com/
http://www.jsmineset.com/
http://www.marketwatch.com/
http://www.mineweb.com/
http://www.gold-eagle.com/
http://www.kitco.com/
http://www.usagold.com/
http://www.usagold.com/amk/usagoldmarketupdate.html
http://www.GoldSeek.com/
http://www.GoldReview.com/
http://www.capitalupdates.com/
http://www.dailyreckoning.com/
http://www.goldenbar.com/
http://www.silver-investor.com/
http://www.thebulliondesk.com/
http://www.sharelynx.com/
http://www.mininglife.com/
http://www.financialsense.com/
http://www.fgmr.com/
http://www.goldensextant.com/
http://www.goldismoney.info/index.html
http://www.howestreet.com/
http://www.depression2.tv/
http://www.un-debt.net/
http://www.minersmanual.com/minernews.html
http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.html
http://www.goldcolony.com/
http://www.miningstocks.com/
http://www.mineralstox.com/
http://www.freemarketnews.com/
http://www.321gold.com/
http://www.silverseek.com/
http://www.investmentrarities.com/
http://www.kereport.com/ (Korelin Business Report -- audio)
http://www.plata.com.mx/plata/home.htm (in Spanish)
http://www.plata.com.mx/plata/plata/english.htm (in English)
http://www.resourceinvestor.com/
http://www.miningmx.com/
http://www.prudentbear.com/
http://www.dollarcollapse.com/
http://www.kitcocasey.com/
http://000999.forumactif.com/
http://www.golddrivers.com/
http://www.goldpennystocks.com/
http://www.oroyfinanzas.com/
http://www.goldcore.com/
http://coininfo.com/
http://www.insidegold.com/
http://www.goldmau.com/
http://www.milesfranklin.com/
http://www.silverminers.com/
http://www.gold-speculator.com/
http://bullion.nwtmint.com/
http://www.preciousmetalsmonthly.com/
http://www.silverstockreport.com/
http://www.longwavegroup.com/
http://theaureport.com/
Subscription sites:
http://www.lemetropolecafe.com/
http://www.marketforceanalysis.com/
http://www.hsletter.com/
http://www.interventionalanalysis.com/
http://www.investmentindicators.com/
http://www.caseyresearch.com/
http://www.deepcaster.com/
http://www.vrtrader.net/
Eagle Ranch discussion site:
http://os2eagle.net/SSL/phpentry.php
Ted Butler silver commentary archive:
http://www.investmentrarities.com/
Conspiracy World: A Truthteller's Compendium of Eye-Opening Revelations and Forbidden Knowledge
Welcome to Gold, Precious & Base Metal Plays forum -
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |