Beware; two ETF's the GLD and SLV - You must be very careful in trading these vehicles as these funds do not have any beneficial gold or silver behind them.
They probably have only paper claims and when the dust settles, on a collapse, there will be countless class action lawsuits trying to recover your lost investment.
There is now evidence that the GLD and SLV are paper settling on the comex.
Thus a default at either of the LBMA, or Comex will trigger a catastrophic event.
CALVF N/R is GREAT COPPER NEWS - CALVF's NAMA found a very RICH COPPER ORE BODY - Nama Base Metal Project, Zambia: Project Update TORONTO, ONTARIO--(Marketwire - Aug. 9, 2012) -
Caledonia Mining Corporation (the "Company") (TSX:CAL)(OTCQX:CALVF)(AIM:CMCL) is pleased to provide an update on the progress at its Nama Base Metal Project in Zambia.
The first phase of the 2012 drilling programme at the Nama base metals project in Zambia - which was described in a News Release dated March 12, 2012 - commenced in March 2012 on the Konkola East target area.
This phase comprised six holes and approximately 2,400 metres of diamond drilling and had the objective of finding an upward extension, closer to surface of the mineralised zone identified in the 2011 drilling programme.
This drilling programme has now been extended into Phase 2 and a total of 12 holes and approximately 4,970 metres of drilling have been completed.
13 of the 18 holes drilled intersected meaningful mineralisation.
The identified zone was intersected at depths ranging from 80 metres to 580 metres below surface and the distance between the drill holes was between 100 metres and 500 metres. The results from the drilling completed to date confirm the existence of a mineralised zone which has the following characteristics:
estimated weighted average copper grade of samples of 0.52%; an estimated mineralised thickness of 10 to 27 metres; the mineralisation extends from surface to a depth of at least 580 metres; a strike length of at least 1,300 metres and a dip extent of 900 metres; and this mineralised zone remains open at depth and to the west.
Further work, which is estimated to entail 10 holes and approximately 2,100 metres of drilling, has already commenced with the objectives of identifying a possible westerly extension to the mineralised zone and improving the confidence level of the resource data. This work will take approximately five months to complete, subject to the onset of rains in the last two months of the year.
Dr. Pearton, BSc. Eng. (Mining Geology), PhD (Geology), and the Fellow of the Geological Society of South Africa, is Caledonia's VP Exploration and its "Qualified Person" for the Nama project and has reviewed the information in this update.
Caution Regarding Forward Looking Statements:
Information included in this release constitutes forward-looking statements. There can be no assurance that future exploration will identify mineralisation that will prove to be economic, that anticipated metallurgical recoveries will be achieved, that future evaluation work will confirm the viability of deposits that may be identified or that required regulatory approvals will be obtained.
Further information regarding Caledonia's exploration activities and operations along with its latest financials and Management Discussion and Analysis may be found at http://www.caledoniamining.com
Phase 1 programme results. The costs of these drilling programmes will be fully funded from current cash resources.
Commenting on these exploration results, Stefan Hayden, Caledonia's Chief Executive Officer and President said: "The 2011 drilling programme at Nama identified a new and very exciting aspect to Nama.
What we have found differs markedly in mineralisation style to other properties in the region in that the zone we have identified occurs in an atypical Copperbelt setting and occurs in rocks overlying the Ore Shale.
This zone of mineralisation occurs at relatively shallow depth relative to the depth of the Ore Shale in the area and possibly extends to surface.
A sufficiently large, near-surface resource depth may therefore provide the basis for a future open-pit mining operation.
"The 2012 exploration programme will commence as soon as the rains and ground condition allow during the second quarter. The results should allow us to confirm and further refine our model of Nama's geology and copper resources potential. Caledonia has sufficient cash to complete the 2012 exploration programme and intends to manage its cash resources so that it can undertake further work at Nama without raising new equity."
Background to the Nama Project
Caledonia holds four, contiguous large scale mining licences covering approximately 800 square kilometres on the Zambian Copperbelt.
The northern boundary of Caledonia's licenced area is the DRC border and the eastern boundary abuts the licence area that is held by a joint venture between Vale and African Rainbow Minerals where a new copper mine is currently under construction.
Prior to the 2011 programme, exploration activities had defined three main styles of mineralization in the Nama Licence area:
a) "A-type" cobalt oxide mineralisation;
b) "D-type' iron oxide bodies which are mostly enriched in Cobalt; and
c) Copper dominated ore shale hosted copper-cobalt mineralisation, commonly observed elsewhere in the Copperbelt and which is being exploited by neighbouring mines to the east and south of the Nama Licence Areas.
Caledonia Mining Corporation (TSX:CAL) (OTCQX:CALVF) (AIM:CMCL) "Caledonia Blanket Gold Mines announces gold production and the underground development that is required to achieve the projected increase in gold production to 48,000 ounces in 2014 has been completed and I look forward to Blanket delivering this increased level of production in 2014".
americano thanks; The biggest buyers of gold in recent years have not been G7 countries (United States, France, Canada, Germany, Japan, the United Kingdom and Italy), many of whom naively sold much if not all their gold in the recent past and have refused or simply don't have the funds to restock; instead purchases have all been by developing nation central banks (like India and Turkey, and of course China which however has a habit of only revealing its true gold inventory every decade or so) who have been quietly preparing to do what Russia is doing by dedollarizing and instead allocating capital into a counterparty-free asset.
trunkman thanks; They are full speed ahead, with turbo button pressed. announced today that it produced a total of 16,370 ounces of gold in June 2022 at its Segovia Operations bringing the total for the second quarter of 2022 to 53,198 ounces compared with 52,198 ounces from Segovia in the second quarter of 2021. In the second quarter of 2022, the Company also produced 85,741 ounces of silver, up from 54,573 ounces of silver in the second quarter last year, together with approximately 294,000 pounds of zinc and 345,000 pounds of lead.
For the first half of 2022, the Company produced 103,149 ounces of gold at its Segovia Operations, up from 101,256 ounces of gold in the first half last year. The Company reported consolidated gold production in the first half last year of 103,684 ounces which included 2,428 ounces from Marmato up to February 4, 2021, the date of the loss of control of Aris Gold Corporation.
GCM Mining’s trailing 12-months’ total gold production at the end of June 2022 was 208,282 ounces, up about 1% over last year. The Company remains on track to meet its 2022 annual production guidance of 210,000 to 225,000 ounces of gold, aided by the completion of the Maria Dama plant expansion to 2,000 tonnes per day (“tpd”) in the third quarter of 2022.
GCM Mining processed a total of 44,047 tonnes in June 2022 at its Maria Dama plant, representing a daily average processing rate of 1,468 tpd, at an average head grade of 12.8 g/t. Plant operations in June 2022 reflected a scheduled 120-hour stoppage to change the linings of the mill in addition to routine repairs and improvements. For the second quarter of 2022, a total of 147,580 tonnes, equivalent to 1,622 tpd, were processed at Segovia at an average head grade of 12.4 g/t compared with a total of 143,910 tonnes, equivalent to 1,581 tpd, at an average head grade of 12.6 g/t in the second quarter last year. This brings the daily average processing rate for the first half of 2022 to 1,604 tpd at an average head grade of 12.3 g/t compared with 1,526 tpd and 12.7 g/t in the first half last year.
$In GOD We Trust - Real Money - AU Safety 6000yrs :-))
trunkmonk thanks; from time to time i have pushed this info out to people. although Yellen has a new role, looks like she was meant to be there when it happens, as with Biden the drug lord of his son. Buckle up butter cups, its coming full circle soon.
Bernanke began the conversation in a cheerful mood… Ben: Saw you on TV yesterday. A woman’s voice, said to be that of Janet Yellen, replies. Janet: Well, you know what it is like.I’m now competing with the presidential election news cycle. And Trump is getting all the page views now. Ben: But wow! I like the way you turned it around… Janet: What do you mean…? Ben: I mean… that “cautious” thing. You managed to get almost every news agency in the world to say you were “cautious.” Heh heh. Makes you sound prudent.And this is after you and I together put about $4 trillion of new cash into the system… we must have induced other central banks to pony up another $8 trillion or so… and now there are about $650 trillion in open derivative contracts. Yeah… cautious! I love it. Just don’t strike a match…. Heh heh. Janet: Oh, stop… I wasn’t the one who started this thing… You… [inaudible]. Besides, I’m learning from Trump. When he entered the race, we all thought he was a joke. But that’s the problem with politics – jokes get elected.Anyway, Trump’s trick is to always say something bold and outrageous. And vague. People don’t know what the f*** you are talking about. They can fill in what they want to hear. It makes me sound like a strong leader who is keeping her options open. At the end of my speech to the Economic Club, I was even tempted to say “Investors love me!” We Homeys Did It At this point, static interrupts the conversation. Then the two voices become clear again… Janet: You know, Ben, they should love us. And you and I should get more than just our pictures on TIME and a few million in speaking fees. After all, our yiddisher kops added more wealth to the world than Carnegie, Ford, Buffett, Gates… all of them put together. Ben: But, Janet… Now that I’ve been out of the hot seat for a while, I’ve had a chance to think about it. Janet: Think about what? Ben: Well, the system and how it works. Janet: Hey… That’s not allowed… Ben: I know… but now that I’m a private citizen just shaking down the big banks for speaking fees… It’s payback time! Janet: Yeah… I see you’re getting $400,000 a pop. Not bad… Ben: Janet, just wait… you’ll get your turn…But seriously, I’m just wondering how it all fits together. I mean… it seems like something very important has changed in a way that we didn’t recognize. Janet: What’s that?” Ben: When Nixon made that change in 1971 [eliminating the restraint on credit creation imposed by gold] nobody really knew what it meant. The gold bugs ranted and raved, but even they had no idea what would happen. Nobody really saw how it would change the system completely.Nobody… except maybe the damned French… ever asked to exchange their dollars for gold anyway. It didn’t seem to matter that we shut the window [ending the convertibility of dollars to gold at a fixed rate by closing the “gold window” at the Treasury]. But this is just coming into focus for me. It changes everything. We went from a savings-based money system to a credit-based system. And that’s a big change. You following me? There is only so much money available from savings. So that naturally limits the amount of credit. But when you can create credit with just a few keystrokes on your computer… it’s a different thing entirely. You can have as much as you want. But the guy who runs a liquor store… He stocks his shelves for total sales. He doesn’t care whether you spend cash or credit. As people spend more – on credit – he orders more bottles and hires a young man to put it on the shelves. He thinks there is more demand for his product. He expects it to last. So does everyone else. So, the economy booms. That was the idea. That’s why we got our faces on TIME. We homeys did it. We manipulated the economy. We tricked people into thinking there was more demand than there really was. And all we had to do was keep interest rates a little on the low side… Debt Is Deflationary Again… the line gets fuzzy for a bit. Then the voices come back. Janet: Ben… I’m going to hop off the line… I’ve got an FOMC meeting… Ben: Hold on, Janet… Just a minute… I’ve got something figured out. It’s important…In the old system, people had to earn money before they could lend it. That imposed a natural limit on credit. You couldn’t lend it if you didn’t have it. The scarcity of credit forced up the price of it. Interest rates never went to zero. So, savers were encouraged to save. And it forced investors and entrepreneurs to find projects that were worthy of precious capital. That’s what made the system work. It encouraged real capital formation and real wealth building. That’s how we got richer. Now, all we’ve got is credit… unlimited credit. Banks’ cost of funds these days is so low it’s almost free. Nobody knows what anything is worth – because all prices are distorted by unlimited credit. That’s what happened to the oil industry. Oil was $140, and then it was $30. You don’t know what it should be. So nobody wants to take the risk or trouble to fund long-term projects. We don’t build much real wealth any more. We just speculate. Short term. And the amount of credit in the system just goes up and up. But the dark side of credit is debt. You have to pay interest on it… and eventually pay back the loan. So, as your debt increases, it takes more and more of your income to make the debt payments, leaving you less to spend. This means you have to borrow more – increasing your debt – just to maintain the same level of spending. We know our income is not keeping up with our debt levels. Debt was about one and a half times GDP in the 1970s. Now, it’s three and a half times. I know lower interest rates airbrush the picture… so the debt burden is not so obvious. But unless we’ve eliminated the credit cycle, we have to assume rates will one day turn up again. Then, the cost of all this debt will suddenly hit us – hard. It will take a big chunk out of current spending… leading to those “D” words that you can’t use in public. The gloom and doomers were right all along. But they didn’t understand any better than anyone else how it really worked. They kept expecting inflation. And it never came. So, they went broke and went away. Debt is not inflationary. It’s deflationary. You either earn your way out… or you reach a limit, and the economy melts down. And here’s the thing: The super abundance of credit reduces real growth. That’s the thing I just realized. The more credit you make available… to try to ‘stimulate’ the economy… the more you stimulate speculation and suppress real growth. Less real growth means less real income to pay your debt. So, there’s really no way out… because the debt is slowing down the economy it depends on, like a huge leech that is killing its host. You eventually end up in a Minsky Moment… [when asset values plunge after a long period of speculation and unsustainable growth]… What are you going to do then? Janet: You’re asking me? Ben: Yea… Janet. I know what I’m going to be doing – collecting more big bucks for telling Goldman how you screwed up. Heh heh.What are you going to do?
Dem Election Plan: Lie, Cheat, Steal, Intimidate & Silence while Economy Implodes By Greg Hunter On September 16, 2022 In Weekly News Wrap-Ups 217 Comments
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