Chinese Financial mkts are closed for this two week holiday so that they are not buying during the holiday. The Shorts take advantage of this to drive the PPG down thanks good info -
and how much did the buy without telling about it?
thanks good info -
Central banks last year bought most gold since '64
FRANKFURT (MarketWatch) -- The world's central banks last year bought 534.6 tons of gold in 2012, the most since 1964, as global gold demand hit a record value level, the World Gold Council said Thursday in a quarterly report. Purchases by central banks for the full year rose 17% compared with 2011, while fourth-quarter purchases of 145 tons marked a 29% rise from the same period a year earlier. "Central banks' move from net sellers of gold to net buyers that we have seen in recent years has continued apace," with official sector purchases across the world now at their highest level for almost half a century, said Marcus Grubb, managing director for investment at the World Gold Council. In value terms, total gold demand in 2012 was $236.4 billion, an all-time high, the council said.
Chinese Financial mkts are closed for this two week holiday so that they are not buying during the holiday. The Shorts take advantage of this to drive the PPG down thanks good info -
and how much did the buy without telling about it?
thanks good info -
Central banks last year bought most gold since '64
FRANKFURT (MarketWatch) -- The world's central banks last year bought 534.6 tons of gold in 2012, the most since 1964, as global gold demand hit a record value level, the World Gold Council said Thursday in a quarterly report. Purchases by central banks for the full year rose 17% compared with 2011, while fourth-quarter purchases of 145 tons marked a 29% rise from the same period a year earlier. "Central banks' move from net sellers of gold to net buyers that we have seen in recent years has continued apace," with official sector purchases across the world now at their highest level for almost half a century, said Marcus Grubb, managing director for investment at the World Gold Council. In value terms, total gold demand in 2012 was $236.4 billion, an all-time high, the council said.
Premier Announces Goldcorp Participation in Red Lake Project
THUNDER BAY, ON, Feb. 27, 2013 /CNW/ -
Premier Gold Mines Limited (TSX-PG) announces that Goldcorp Inc. (TSX:G), (NYSE:GG) has notified Premier that it intends to exercise its right to acquire a 51% interest in the Broulan Reef Project in Red Lake.
On February 25th, Premier announced that it has signed an agreement to acquire the Broulan Reef Project from Cypress Development Corp. (TSX-V:CYP) and Skyharbour Resources Ltd.(TSX-V:SYH) (the "Vendors") in exchange for a payment to the Vendors $1.75 million in cash, the issuance of 160,000 common shares of Premier and the retention of a 0.5% net smelter royalty (NSR).
Goldcorp has provided notice of its intent to exercise its right to participate in the Broulan Reef acquisition pursuant to the terms of the Rahill-Bonanza Joint Venture Agreement between Premier and Goldcorp, whereby Goldcorp has the 30 day right to acquire a 51% interest in lands situated within an area of influence associated with the Joint Venture and will fund 51% of acquisition costs. The closing of the acquisition is subject to standard conditions, including regulatory and stock exchange approval.
The Broulan Reef Property is located adjacent to the south and west of Goldcorp's Cochenour / Bruce Channel Deposit and adjacent to the west of the Rahill Bonanza Joint Venture.
The Rahill-Bonanza Project is a joint venture located in the heart of the main Red Lake "Mine Trend" and is being explored with partner and operator Red Lake Gold Mines Limited ("RLGM"), an affiliate of Goldcorp Inc.
Tram development through the Joint Venture and underground drilling are underway.
Stephen McGibbon, P. Geo., is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101.
Premier Gold Mines Limited is one of North America's leading exploration companies with a high-quality pipeline of gold projects focused in proven, safe and accessible mining jurisdictions in Canada and the United States.
The Company's portfolio includes significant assets in world class gold mining districts such as Red Lake, Musselwhite and Geraldton in Ontario and the Eureka-Battle Mountain and Carlin Trends in Nevada.
This press release contains certain information that may constitute "forward-looking information" ---- a result of new information, future events or otherwise, except as required by law.
SOURCE: Premier Gold Mines Limited Shares Issued: 149,072,712
Ewan Downie, President & CEO Phone: 807-346-1390 Fax: 807-346-1381 e-mail: Info@premiergoldmines.com
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