Deposits draining from European banks; China sets high price for bailout - Submitted by cpowell on Wed, 2011-09-14 14:22. Section: Daily Dispatches 10:18a ET Wednesday, September 14, 2011
Dear Friend of GATA and Gold:
A couple of quick headlines for you. ...
Deposit Flight from European Banks Means Collateral Risks Piling Up at ECB:
Hedge Fund Heavyweight Says Gold Bet Not Over - Sep 19th, 2011 07:48 by News 19-Sep (Bloomberg) —
Gold, platinum and Brent oil will lead gains in commodities as investors seek to protect their assets and shortages emerge, according to Tony Hall, the hedge- fund manager who earned 33 percent for his clients this year.
Gold may climb 21 percent to a record $2,200 an ounce by the end of 2011, platinum may gain 10 percent and Brent could rise 25 percent to $140 a barrel in six months, said the London- based chief investment officer of Duet Commodities Fund Ltd., which manages more than $100 million of assets.
…“We still believe in the gold story. If you believe the world is in trouble or in further economic growth disruption, then gold is a good safe haven. If you believe that the world is going to come out okay, then it’s a good inflation hedge.”
Given the still strong GOLD demand for a narrowed field of safe-haven assets, dips are likely to continue to be limited and short-lived -
Gold’s ‘Perfect Storm’ to Continue on Haven Demand - Morgan Stanley banksters Says Sep 13th, 2011 07:58 by News September 12 (Bloomberg) —
Gold’s “perfect storm” is expected to continue on renewed investor demand for haven assets, potentially driving the metal to its 1980 inflation- adjusted record, according to Morgan Stanley.
In 1980, gold hit a then-record $873 an ounce. In today’s dollars,
CALVF has some advantages with comparison to USA and Canada - e.g., low taxes; Corporate Income tax at 25% - lower labour cost but a happy work force - :-) Indigenisation program Mugabe talked about for 20 years - but the leading Peoples opposition don't want - year 2015 is a deadline - self declared king pin Mugabe 88yrs old is sadly in serious cancer sickness - Blanket Gold Mines Project - the capacity of the secondary and tertiary crushers was increased to over 2,000 tpd and the capacity of the rod mills was increased to 1,800 tpd. The product from the regrind mill is pumped into a carbon in leach ("CIL") plant consisting of eight, 600 cubic meter leach tanks equipped with 45 kW agitators where leaching at 50% solids and simultaneous adsorption of dissolved gold onto activated carbon takes place. The CIL plant has a design capacity of 3,800 tonnes of milled ore per day. Elution of the gold from the loaded carbon and electro winning is done on site. Gold is deposited onto wire wool cathodes, the loaded cathodes are acid-digested and the resultant gold solids are smelted to produce gold bullion of approximately 90% purity, prior to Blanket exporting it directly to Rand Refinery in South Africa for final refining and sale. The full proceeds of sale (i.e. before payment of any royalty) are paid to Blanket's foreign currency account with a commercial bank within approximately 7 days of receipt of the gold by Rand Refineries. http://www.caledoniamining.com/blanket3test2.php
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