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Showing posts with label Treasury Bubble. Show all posts
Showing posts with label Treasury Bubble. Show all posts
Thursday, May 27, 2010
US Dollar Collapse: Reversal in Confirmation TNR.v, CZX.v, GRC.to, NGQ.v, GBN.v, ASM.v, EPZ.v, KTN.v, FVI.to, MGN, VTR.v, GDX, SLV, HUI, XAU, BTT.v,
0 comments Posted by andre at 3:03 PM"We will speculate on the real events behind the scene on a day of Cyber Meltdown: spectacular Dow Crash by the magnitude of 1000 point in fifteen minutes. We will develop a very strong argument in favour of Inflation and its cost based on PhD Thesis: At what point price of Oil becomes prohibitive to use Helicopters by Ben Bernanke in his open market operations. We will draw some lines on How Lithium, Gold and price of Oil are connected and what it means to be grounded. In the end we will leave you with the question: Where to invest - In Ben Bernanke, Ink Factory, Helicopters, Oil or Gold and Lithium?
Our memories from 2008 meltdown and the last deflation strike in March of last year are still too vivid for us to stay rational amid recent market panic of this week. Was it the fat finger, Cyber Meltdown or revenge of the Government Sachs, which was striped of its Olympus glamour is not so important - the most important message is the reaction of the Market itself and actions of the people in charge to follow."
Our memories from 2008 meltdown and the last deflation strike in March of last year are still too vivid for us to stay rational amid recent market panic of this week. Was it the fat finger, Cyber Meltdown or revenge of the Government Sachs, which was striped of its Olympus glamour is not so important - the most important message is the reaction of the Market itself and actions of the people in charge to follow."
We have further confirmation of US Dollar Bearish reversal with double Top in the making now. We need to clear 85.17 on the down move to make it decisive. China's confirmation of confidence in Euro was the last shoe to drop for Green Fellow levitation: as you can see below it was a very expensive exercise. Markets were again in a free fall and they better stop now at the key technical levels. Second Deflation Scare episode is almost over and price will be paid by further debasement of all currencies against the Gold, Silver and Oil amongst other commodities.
Dow is in Bullish Reversal now at the key technical level confirming the third test of the lower band of recent trend. We have a very bullish candle two days ago and yesterday the level was retested by late day selling. Today's action provides another confirmation for Deflation Scare to be subsiding and Euro panic is slowing down with news from China, declining review of SAFE Euro holdings. Fear index below is confirming its Reversal and appetite for Risk assets will be coming back with further improvement in indicators fooled by flood of liquidity provided. Euro bail out with almost 1 Trillion in USD terms and QE on the run have shadowed domestic bills for another 30 billion in Job support program and further requests for capital from bottomless Freddy and Fannie.
Risk appetite is coming back and this Summer can be really Hot in some sectors, we think that Oil starting from 70 USD now after this Second Deflation Scare on sovereign default will provide necessarily catalyst for the move above 90 USD. Our Lithium play will be enjoying next bull leg up with oil passing north of 80 USD.
"Recent Oil Spill shows the real price for Oil and leaves no doubt for us that there will be no more cheap oil: offshore drilling is costly now, it will be even more costly later. Relatively cheap Oil is in the hands of state owned companies in not so friendly to U.S. places. Oil squeeze will come from diminishing production rates and rising Inflation. The move will be even more explosive than in the Gold market - in the end only minority of people is effected by the gold price even now, Oil is the underlining of all Western Energy Diet. It is not sustainable. Emerging markets are taking more and more share of world wide production, oil producing countries are spending more at home. If you account all cost to produce, deliver and protect Oil supply to U.S. corp the price is already above 150 USD/barrel.
"Peak Oil and Lithium: Joint Operating Environment 2010
Please pay attention, this report is written by those who knows the Real Price of Oil. If you account all military needed to protect Oil supply lines and cost of wars to get more oil, price will be well above 150 USD/barrel already. Now we all have another problem: there is simply no more oil enough for all. Will future wars for oil be the only answer?"
Another "liberation" operation like Iraq, this time against Iran will break the camel's back with no return point. Competition for Oil is heating up and aggressive move by China into Electric Cars leaves no other options for US than to follow. In order to keep power China needs gradually improve standard of living, it will bring upside pressure on labor cost. Electrification will not only provide Energy Security to China, but will significantly reduce the cost of its transportation element and provide another opportunity to stay among low cost producers. Situation is completely different to U.S. - they have capital to invest in Electric Mobility CAPEX now and rip the rewards of lower cash cost on transportation side later. We will refer you to the Economics of Electric Cars.
Recent Ash Cloud events in Europe brought a very sobering sense of the feeling to be grounded. It is amazing how many things are taking for granted. This time it is Ash Cloud - what will happen with oil above 150?
Electric Cars is the only commercially viable technology today to sustain mobility world wide with rising Oil prices. Lithium is at the heart of Green Mobility revolution - it is an industry adopted standard for batteries and billions of dollars are invested into battery technology and upcoming by the end of this year Electric Cars on a mass market scale. This Bull market is still very young - only a year or so from the beginning after the crash of 2008.
We will provide you with few links to study the subject further:"
"Peak Oil and Lithium: Joint Operating Environment 2010
Please pay attention, this report is written by those who knows the Real Price of Oil. If you account all military needed to protect Oil supply lines and cost of wars to get more oil, price will be well above 150 USD/barrel already. Now we all have another problem: there is simply no more oil enough for all. Will future wars for oil be the only answer?"
Another "liberation" operation like Iraq, this time against Iran will break the camel's back with no return point. Competition for Oil is heating up and aggressive move by China into Electric Cars leaves no other options for US than to follow. In order to keep power China needs gradually improve standard of living, it will bring upside pressure on labor cost. Electrification will not only provide Energy Security to China, but will significantly reduce the cost of its transportation element and provide another opportunity to stay among low cost producers. Situation is completely different to U.S. - they have capital to invest in Electric Mobility CAPEX now and rip the rewards of lower cash cost on transportation side later. We will refer you to the Economics of Electric Cars.
Recent Ash Cloud events in Europe brought a very sobering sense of the feeling to be grounded. It is amazing how many things are taking for granted. This time it is Ash Cloud - what will happen with oil above 150?
Electric Cars is the only commercially viable technology today to sustain mobility world wide with rising Oil prices. Lithium is at the heart of Green Mobility revolution - it is an industry adopted standard for batteries and billions of dollars are invested into battery technology and upcoming by the end of this year Electric Cars on a mass market scale. This Bull market is still very young - only a year or so from the beginning after the crash of 2008.
We will provide you with few links to study the subject further:"
US Dollar Collapse: Reversal in Confirmation TNR.v, CZX.v, GRC.to, NGQ.v, GBN.v, ASM.v, EPZ.v, KTN.v, FVI.to, MGN, VTR.v, GDX, SLV, HUI, XAU, BTT.v,
0 comments Posted by andre at 3:03 PM"We will speculate on the real events behind the scene on a day of Cyber Meltdown: spectacular Dow Crash by the magnitude of 1000 point in fifteen minutes. We will develop a very strong argument in favour of Inflation and its cost based on PhD Thesis: At what point price of Oil becomes prohibitive to use Helicopters by Ben Bernanke in his open market operations. We will draw some lines on How Lithium, Gold and price of Oil are connected and what it means to be grounded. In the end we will leave you with the question: Where to invest - In Ben Bernanke, Ink Factory, Helicopters, Oil or Gold and Lithium?
Our memories from 2008 meltdown and the last deflation strike in March of last year are still too vivid for us to stay rational amid recent market panic of this week. Was it the fat finger, Cyber Meltdown or revenge of the Government Sachs, which was striped of its Olympus glamour is not so important - the most important message is the reaction of the Market itself and actions of the people in charge to follow."
Our memories from 2008 meltdown and the last deflation strike in March of last year are still too vivid for us to stay rational amid recent market panic of this week. Was it the fat finger, Cyber Meltdown or revenge of the Government Sachs, which was striped of its Olympus glamour is not so important - the most important message is the reaction of the Market itself and actions of the people in charge to follow."
We have further confirmation of US Dollar Bearish reversal with double Top in the making now. We need to clear 85.17 on the down move to make it decisive. China's confirmation of confidence in Euro was the last shoe to drop for Green Fellow levitation: as you can see below it was a very expensive exercise. Markets were again in a free fall and they better stop now at the key technical levels. Second Deflation Scare episode is almost over and price will be paid by further debasement of all currencies against the Gold, Silver and Oil amongst other commodities.
Dow is in Bullish Reversal now at the key technical level confirming the third test of the lower band of recent trend. We have a very bullish candle two days ago and yesterday the level was retested by late day selling. Today's action provides another confirmation for Deflation Scare to be subsiding and Euro panic is slowing down with news from China, declining review of SAFE Euro holdings. Fear index below is confirming its Reversal and appetite for Risk assets will be coming back with further improvement in indicators fooled by flood of liquidity provided. Euro bail out with almost 1 Trillion in USD terms and QE on the run have shadowed domestic bills for another 30 billion in Job support program and further requests for capital from bottomless Freddy and Fannie.
Risk appetite is coming back and this Summer can be really Hot in some sectors, we think that Oil starting from 70 USD now after this Second Deflation Scare on sovereign default will provide necessarily catalyst for the move above 90 USD. Our Lithium play will be enjoying next bull leg up with oil passing north of 80 USD.
"Recent Oil Spill shows the real price for Oil and leaves no doubt for us that there will be no more cheap oil: offshore drilling is costly now, it will be even more costly later. Relatively cheap Oil is in the hands of state owned companies in not so friendly to U.S. places. Oil squeeze will come from diminishing production rates and rising Inflation. The move will be even more explosive than in the Gold market - in the end only minority of people is effected by the gold price even now, Oil is the underlining of all Western Energy Diet. It is not sustainable. Emerging markets are taking more and more share of world wide production, oil producing countries are spending more at home. If you account all cost to produce, deliver and protect Oil supply to U.S. corp the price is already above 150 USD/barrel.
"Peak Oil and Lithium: Joint Operating Environment 2010
Please pay attention, this report is written by those who knows the Real Price of Oil. If you account all military needed to protect Oil supply lines and cost of wars to get more oil, price will be well above 150 USD/barrel already. Now we all have another problem: there is simply no more oil enough for all. Will future wars for oil be the only answer?"
Another "liberation" operation like Iraq, this time against Iran will break the camel's back with no return point. Competition for Oil is heating up and aggressive move by China into Electric Cars leaves no other options for US than to follow. In order to keep power China needs gradually improve standard of living, it will bring upside pressure on labor cost. Electrification will not only provide Energy Security to China, but will significantly reduce the cost of its transportation element and provide another opportunity to stay among low cost producers. Situation is completely different to U.S. - they have capital to invest in Electric Mobility CAPEX now and rip the rewards of lower cash cost on transportation side later. We will refer you to the Economics of Electric Cars.
Recent Ash Cloud events in Europe brought a very sobering sense of the feeling to be grounded. It is amazing how many things are taking for granted. This time it is Ash Cloud - what will happen with oil above 150?
Electric Cars is the only commercially viable technology today to sustain mobility world wide with rising Oil prices. Lithium is at the heart of Green Mobility revolution - it is an industry adopted standard for batteries and billions of dollars are invested into battery technology and upcoming by the end of this year Electric Cars on a mass market scale. This Bull market is still very young - only a year or so from the beginning after the crash of 2008.
We will provide you with few links to study the subject further:"
"Peak Oil and Lithium: Joint Operating Environment 2010
Please pay attention, this report is written by those who knows the Real Price of Oil. If you account all military needed to protect Oil supply lines and cost of wars to get more oil, price will be well above 150 USD/barrel already. Now we all have another problem: there is simply no more oil enough for all. Will future wars for oil be the only answer?"
Another "liberation" operation like Iraq, this time against Iran will break the camel's back with no return point. Competition for Oil is heating up and aggressive move by China into Electric Cars leaves no other options for US than to follow. In order to keep power China needs gradually improve standard of living, it will bring upside pressure on labor cost. Electrification will not only provide Energy Security to China, but will significantly reduce the cost of its transportation element and provide another opportunity to stay among low cost producers. Situation is completely different to U.S. - they have capital to invest in Electric Mobility CAPEX now and rip the rewards of lower cash cost on transportation side later. We will refer you to the Economics of Electric Cars.
Recent Ash Cloud events in Europe brought a very sobering sense of the feeling to be grounded. It is amazing how many things are taking for granted. This time it is Ash Cloud - what will happen with oil above 150?
Electric Cars is the only commercially viable technology today to sustain mobility world wide with rising Oil prices. Lithium is at the heart of Green Mobility revolution - it is an industry adopted standard for batteries and billions of dollars are invested into battery technology and upcoming by the end of this year Electric Cars on a mass market scale. This Bull market is still very young - only a year or so from the beginning after the crash of 2008.
We will provide you with few links to study the subject further:"
Canada Zinc Metals arranges $3-million placement CZX.v, TNR.v, BLS.to, LUN.to, QUA.to, FCX, CUU.v, DON.v, BWR.to, CS.to, BHP, RTP, RIO, IMN.to,
0 comments Posted by andre at 7:01 AM
"CZX’s Cardiac Creek deposit (Akie property) represents one of the top 10 largest undeveloped zinc deposits on the planet. The deposit is very good grade with a very high grade section within it that could be mined first (quicker payback of capital). CZX also has a very large prospective land package – this represents a district scale opportunity in mining friendly BC, Canada. Infrastructure in the area is relatively advanced (full road access, railway, power facility, deep sea port). Neighboring property / deposits owned by big players Teck Resources and Korea Zinc. We are going to China to visit Tongling and other Chinese companies next week for further discussions on our project development"
"Tongling exercises its warrants at 20% premium to the market today (0.50CAD) - it is a very positive sign of commitment. Now Chinese company holds 17.5% in Canada Zinc Metals CZX.v, when will they bid for the whole company? Another important shareholder is Lundin Mining LUN.to With new Bailout in Europe direction is to Inflation and Commodities are the place to be. Another company we are following here is engaged in this Chinese M&A in Canada story: TNR Gold Corp. with International Lithium Corp. where CZX has a stake. Will shareholders in TNR Gold wake up one morning with new Chinese connection one day?"
With recent market meltdown Canada Zinc Metals provides another very good Entry point into this Chinese M&A play in Commodities in Canada. Markets are signaling that risk appetite could be back now and Company reports that after Chinese Tongling has exercised their warrants at 0.6CAD it was able to secure another sizable financing at that level with more than 20% premium to the market.
2010-05-27 07:44 ET - News Release
Mr. Peeyush Varshney reports
CANADA ZINC METALS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Canada Zinc Metals Corp. has arranged a private placement of five million units at a price of 60 cents per unit for gross proceeds of up to $3-million.
Each unit will consist of one common share and one-half share purchase warrant of the company. Each whole warrant will entitle the holder to purchase one additional common share at a price of 80 cents for a period of 18 months from closing.
A finder's fee of 7 per cent will be paid on the private placement. The private placement is subject to TSX Venture Exchange approval.
The proceeds of the private placement are anticipated to be used for further exploration of the Akie Sedex zinc-lead deposit and for working capital purposes.
About the Akie and Kechika regional properties
The Akie zinc-lead property is situated within the southernmost part (Kechika trough) of the regionally extensive Paleozoic Selwyn basin, one of the most prolific sedimentary basins in the world for the occurrence of Sedex zinc-lead-silver and stratiform barite deposits.
Drilling on the Akie property by Inmet Mining Corporation during the period 1994 to 1996 and by Canada Zinc Metals since 2005 has identified a significant body of baritic zinc-lead Sedex mineralization (Cardiac Creek deposit). The deposit is hosted by variably siliceous, fine-grained clastic rocks of the Middle to Late Devonian Gunsteel formation. The company has outlined an NI 43-101-compliant inferred resource of 23.6 million tonnes grading 7.6 per cent zinc, 1.5 per cent lead and 13.0 grams per tonne silver (at a 5-per-cent zinc cut-off grade).
Two similar deposits, Cirque and Cirque South Cirque, located approximately 20 kilometres northwest of Akie and owned under a joint venture by Teck Resources and Korea Zinc, are also hosted by Gunsteel rocks and have a combined geologic inventory in excess of 50 million tonnes (not 43-101-compliant) grading approximately 10 per cent combined zinc and lead.
In addition to the Akie property, Canada Zinc Metals controls a large contiguous group of claims which consist of the Kechika regional project. These claims are underlain by geology identical to that on the Akie property (Cardiac Creek deposit) and Cirque. This project includes the 100-per-cent-owned Mt. Alcock property, which has yielded a historic drill intercept of 8.8 metres grading 9.3 per cent zinc and lead, numerous zinc-lead-barite occurrences, and several regional base metal anomalies.
All of the company's claims (77,889 hectares), with the exception of a small isolated block (2,293 hectares), are in good standing, under the provisions of the Mineral Tenure Act of British Columbia, until Dec. 8, 2018."
Canada Zinc Metals arranges $3-million placement CZX.v, TNR.v, BLS.to, LUN.to, QUA.to, FCX, CUU.v, DON.v, BWR.to, CS.to, BHP, RTP, RIO, IMN.to,
0 comments Posted by andre at 7:01 AM
"CZX’s Cardiac Creek deposit (Akie property) represents one of the top 10 largest undeveloped zinc deposits on the planet. The deposit is very good grade with a very high grade section within it that could be mined first (quicker payback of capital). CZX also has a very large prospective land package – this represents a district scale opportunity in mining friendly BC, Canada. Infrastructure in the area is relatively advanced (full road access, railway, power facility, deep sea port). Neighboring property / deposits owned by big players Teck Resources and Korea Zinc. We are going to China to visit Tongling and other Chinese companies next week for further discussions on our project development"
"Tongling exercises its warrants at 20% premium to the market today (0.50CAD) - it is a very positive sign of commitment. Now Chinese company holds 17.5% in Canada Zinc Metals CZX.v, when will they bid for the whole company? Another important shareholder is Lundin Mining LUN.to With new Bailout in Europe direction is to Inflation and Commodities are the place to be. Another company we are following here is engaged in this Chinese M&A in Canada story: TNR Gold Corp. with International Lithium Corp. where CZX has a stake. Will shareholders in TNR Gold wake up one morning with new Chinese connection one day?"
With recent market meltdown Canada Zinc Metals provides another very good Entry point into this Chinese M&A play in Commodities in Canada. Markets are signaling that risk appetite could be back now and Company reports that after Chinese Tongling has exercised their warrants at 0.6CAD it was able to secure another sizable financing at that level with more than 20% premium to the market.
2010-05-27 07:44 ET - News Release
Mr. Peeyush Varshney reports
CANADA ZINC METALS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Canada Zinc Metals Corp. has arranged a private placement of five million units at a price of 60 cents per unit for gross proceeds of up to $3-million.
Each unit will consist of one common share and one-half share purchase warrant of the company. Each whole warrant will entitle the holder to purchase one additional common share at a price of 80 cents for a period of 18 months from closing.
A finder's fee of 7 per cent will be paid on the private placement. The private placement is subject to TSX Venture Exchange approval.
The proceeds of the private placement are anticipated to be used for further exploration of the Akie Sedex zinc-lead deposit and for working capital purposes.
About the Akie and Kechika regional properties
The Akie zinc-lead property is situated within the southernmost part (Kechika trough) of the regionally extensive Paleozoic Selwyn basin, one of the most prolific sedimentary basins in the world for the occurrence of Sedex zinc-lead-silver and stratiform barite deposits.
Drilling on the Akie property by Inmet Mining Corporation during the period 1994 to 1996 and by Canada Zinc Metals since 2005 has identified a significant body of baritic zinc-lead Sedex mineralization (Cardiac Creek deposit). The deposit is hosted by variably siliceous, fine-grained clastic rocks of the Middle to Late Devonian Gunsteel formation. The company has outlined an NI 43-101-compliant inferred resource of 23.6 million tonnes grading 7.6 per cent zinc, 1.5 per cent lead and 13.0 grams per tonne silver (at a 5-per-cent zinc cut-off grade).
Two similar deposits, Cirque and Cirque South Cirque, located approximately 20 kilometres northwest of Akie and owned under a joint venture by Teck Resources and Korea Zinc, are also hosted by Gunsteel rocks and have a combined geologic inventory in excess of 50 million tonnes (not 43-101-compliant) grading approximately 10 per cent combined zinc and lead.
In addition to the Akie property, Canada Zinc Metals controls a large contiguous group of claims which consist of the Kechika regional project. These claims are underlain by geology identical to that on the Akie property (Cardiac Creek deposit) and Cirque. This project includes the 100-per-cent-owned Mt. Alcock property, which has yielded a historic drill intercept of 8.8 metres grading 9.3 per cent zinc and lead, numerous zinc-lead-barite occurrences, and several regional base metal anomalies.
All of the company's claims (77,889 hectares), with the exception of a small isolated block (2,293 hectares), are in good standing, under the provisions of the Mineral Tenure Act of British Columbia, until Dec. 8, 2018."
Friday, May 21, 2010
Germany to Euro Shorts: “If you want to drain a swamp, you don’t ask the frogs for an objective assessment.” TNR.v, CZX.v, GBN.v, ASM.v, GRC.to,
0 comments Posted by andre at 5:11 AM
Nothing is for certain, but our reversal in USD is well under way. With US Debt close to 13 Trillion all Euro situation is just an aberration in the History of US Dollar Collapse. US budget deficit is projected for years ahead to stay above 1 Trillion dollars with Gross Federal Debt well over 70% of GDP assuming it at 14 trillion, can you even imaging in U.S. German rules:
"Mr Schäuble also wants the other 15 members of the common currency to adopt a similar national law to the German debt guillotine, a law enshrined in the German constitution committing the government to a balanced budget, with a maximum structural budget deficit of just 0.35 per cent of GDP by 2016."
On a weekly chart US Dollar is very close to finish this week with a very strong Bearish reversal candle.
Do not burn your Euros yet, US Dollar was appreciating on Europe worries, but the weaker Euro is exactly what Europe needs in Competition for Export to Emerging markets and China first of all.
After pictures from Greece we do not think that anybody will go there in U.S. Corp. Deflation will be prevented by any means, it is easy and price to pay is not so obvious. Newly printed US Dollars are "free", but price to drop them is not: you need Oil to keep you helicopters flying and here will be our first conundrum: At what point price of Oil becomes prohibitive to use Helicopters by Ben Bernanke in his open market operations?
Here is time to move to practical implications of the new Inflation round to fight Deflation Scare this time created by sovereign default. How Lithium, Gold and price of Oil are connected and what it means to be grounded? We will start with Gold and will give you few observations:
Here is time to move to practical implications of the new Inflation round to fight Deflation Scare this time created by sovereign default. How Lithium, Gold and price of Oil are connected and what it means to be grounded? We will start with Gold and will give you few observations:
FT:
By Quentin Peel in Berlin
Published: May 20 2010 12:52 Last updated: May 21 2010 11:37
Germany’s lower house of parliament on Friday approved Berlin’s contribution to a €750bn stabilisation package for the eurozone.
After fraught talks with parties in the Bundestag on Thursday, it became clear that Angela Merkel, chancellor, would win a majority in favour of German credit guarantees of up to €150bn ($187bn, £130bn) from her centre-right coalition but fail to win cross-party support from the opposition Social Democrats and Greens.
The Bundestag passed the bill with 319 votes in favour, 73 against and 195 abstentions. The Bundesrat upper house is expected to pass the bill later on Friday.
Ms Merkel’s promises of tougher rules for the eurozone and action to curb speculation in the financial markets have been part of the price to win parliamentary support for the loan guarantees. A move to ban naked short-selling of eurozone debt was also seen in Berlin as a clear political gesture to win the parliamentary majority
On Thursday Ms Merkel stepped up pressure for a global agreement on tighter financial regulation, a banking tax or levy and a financial transaction tax, while spelling out the rules it wants members of the eurozone to adopt to curb their public debts and deficit spending.
George Osborne, UK chancellor, was separately expected to tell EU finance ministers in Brussels on Friday that Britain would resist attempts to improve economic governance that require a change to the European Union treaty.
The new UK government is committed to a referendum on any treaty that transfers new powers to Brussels. Mr Osborne has said he will oppose suggestions that he should show his Budget to the European Commission before presenting it to parliament.
Thomas De Maizière, Germany’s interior minister, said Berlin would increasingly seek to defend its own interest in the EU while shedding its role as passive paymaster. “Germany is going to act just as other European countries do in Brussels and this will not make it automatically anti-European,” he said.
Wolfgang Schäuble, finance minister, published a nine-point programme of proposals for more rigorous policing of the budgetary policies of eurozone members, including a proposal to draw up a procedure for “orderly state insolvencies” for countries that cannot service their debts.
Other points in his plan, to be presented on Friday at the first meeting of a task force in Brussels charged with rewriting the rules of the common currency area, include stripping countries of their votes if they persistently break stability and growth pact limits on deficit spending, and cutting them off from regional investment funds.
Mr Schäuble also wants the other 15 members of the common currency to adopt a similar national law to the German debt guillotine, a law enshrined in the German constitution committing the government to a balanced budget, with a maximum structural budget deficit of just 0.35 per cent of GDP by 2016.
Ms Merkel and Mr Schäuble are adamant that more action must be taken at the level of both the EU and the Group of 20 economies to regulate financial markets, in addition to adopting much more rigorous budget controls within the EU.
Ms Merkel called on financial institutions to give “honest advice” about how their activities should be regulated, warning they would face political measures to regulate the markets whatever happened.
Mr Schäuble appeared more sceptical. Challenged to defend Germany’s ban on naked short selling in light of the hostile reaction in the markets, the minister said: “If you want to drain a swamp, you don’t ask the frogs for an objective assessment.”
Additional reporting by Joshua Chaffin in Berlin and George Parker in London
Published: May 20 2010 12:52 Last updated: May 21 2010 11:37
Germany’s lower house of parliament on Friday approved Berlin’s contribution to a €750bn stabilisation package for the eurozone.
After fraught talks with parties in the Bundestag on Thursday, it became clear that Angela Merkel, chancellor, would win a majority in favour of German credit guarantees of up to €150bn ($187bn, £130bn) from her centre-right coalition but fail to win cross-party support from the opposition Social Democrats and Greens.
The Bundestag passed the bill with 319 votes in favour, 73 against and 195 abstentions. The Bundesrat upper house is expected to pass the bill later on Friday.
Ms Merkel’s promises of tougher rules for the eurozone and action to curb speculation in the financial markets have been part of the price to win parliamentary support for the loan guarantees. A move to ban naked short-selling of eurozone debt was also seen in Berlin as a clear political gesture to win the parliamentary majority
On Thursday Ms Merkel stepped up pressure for a global agreement on tighter financial regulation, a banking tax or levy and a financial transaction tax, while spelling out the rules it wants members of the eurozone to adopt to curb their public debts and deficit spending.
George Osborne, UK chancellor, was separately expected to tell EU finance ministers in Brussels on Friday that Britain would resist attempts to improve economic governance that require a change to the European Union treaty.
The new UK government is committed to a referendum on any treaty that transfers new powers to Brussels. Mr Osborne has said he will oppose suggestions that he should show his Budget to the European Commission before presenting it to parliament.
Thomas De Maizière, Germany’s interior minister, said Berlin would increasingly seek to defend its own interest in the EU while shedding its role as passive paymaster. “Germany is going to act just as other European countries do in Brussels and this will not make it automatically anti-European,” he said.
Wolfgang Schäuble, finance minister, published a nine-point programme of proposals for more rigorous policing of the budgetary policies of eurozone members, including a proposal to draw up a procedure for “orderly state insolvencies” for countries that cannot service their debts.
Other points in his plan, to be presented on Friday at the first meeting of a task force in Brussels charged with rewriting the rules of the common currency area, include stripping countries of their votes if they persistently break stability and growth pact limits on deficit spending, and cutting them off from regional investment funds.
Mr Schäuble also wants the other 15 members of the common currency to adopt a similar national law to the German debt guillotine, a law enshrined in the German constitution committing the government to a balanced budget, with a maximum structural budget deficit of just 0.35 per cent of GDP by 2016.
Ms Merkel and Mr Schäuble are adamant that more action must be taken at the level of both the EU and the Group of 20 economies to regulate financial markets, in addition to adopting much more rigorous budget controls within the EU.
Ms Merkel called on financial institutions to give “honest advice” about how their activities should be regulated, warning they would face political measures to regulate the markets whatever happened.
Mr Schäuble appeared more sceptical. Challenged to defend Germany’s ban on naked short selling in light of the hostile reaction in the markets, the minister said: “If you want to drain a swamp, you don’t ask the frogs for an objective assessment.”
Additional reporting by Joshua Chaffin in Berlin and George Parker in London
Germany to Euro Shorts: “If you want to drain a swamp, you don’t ask the frogs for an objective assessment.” TNR.v, CZX.v, GBN.v, ASM.v, GRC.to,
0 comments Posted by andre at 5:11 AM
Nothing is for certain, but our reversal in USD is well under way. With US Debt close to 13 Trillion all Euro situation is just an aberration in the History of US Dollar Collapse. US budget deficit is projected for years ahead to stay above 1 Trillion dollars with Gross Federal Debt well over 70% of GDP assuming it at 14 trillion, can you even imaging in U.S. German rules:
"Mr Schäuble also wants the other 15 members of the common currency to adopt a similar national law to the German debt guillotine, a law enshrined in the German constitution committing the government to a balanced budget, with a maximum structural budget deficit of just 0.35 per cent of GDP by 2016."
On a weekly chart US Dollar is very close to finish this week with a very strong Bearish reversal candle.
Do not burn your Euros yet, US Dollar was appreciating on Europe worries, but the weaker Euro is exactly what Europe needs in Competition for Export to Emerging markets and China first of all.
After pictures from Greece we do not think that anybody will go there in U.S. Corp. Deflation will be prevented by any means, it is easy and price to pay is not so obvious. Newly printed US Dollars are "free", but price to drop them is not: you need Oil to keep you helicopters flying and here will be our first conundrum: At what point price of Oil becomes prohibitive to use Helicopters by Ben Bernanke in his open market operations?
Here is time to move to practical implications of the new Inflation round to fight Deflation Scare this time created by sovereign default. How Lithium, Gold and price of Oil are connected and what it means to be grounded? We will start with Gold and will give you few observations:
Here is time to move to practical implications of the new Inflation round to fight Deflation Scare this time created by sovereign default. How Lithium, Gold and price of Oil are connected and what it means to be grounded? We will start with Gold and will give you few observations:
FT:
By Quentin Peel in Berlin
Published: May 20 2010 12:52 Last updated: May 21 2010 11:37
Germany’s lower house of parliament on Friday approved Berlin’s contribution to a €750bn stabilisation package for the eurozone.
After fraught talks with parties in the Bundestag on Thursday, it became clear that Angela Merkel, chancellor, would win a majority in favour of German credit guarantees of up to €150bn ($187bn, £130bn) from her centre-right coalition but fail to win cross-party support from the opposition Social Democrats and Greens.
The Bundestag passed the bill with 319 votes in favour, 73 against and 195 abstentions. The Bundesrat upper house is expected to pass the bill later on Friday.
Ms Merkel’s promises of tougher rules for the eurozone and action to curb speculation in the financial markets have been part of the price to win parliamentary support for the loan guarantees. A move to ban naked short-selling of eurozone debt was also seen in Berlin as a clear political gesture to win the parliamentary majority
On Thursday Ms Merkel stepped up pressure for a global agreement on tighter financial regulation, a banking tax or levy and a financial transaction tax, while spelling out the rules it wants members of the eurozone to adopt to curb their public debts and deficit spending.
George Osborne, UK chancellor, was separately expected to tell EU finance ministers in Brussels on Friday that Britain would resist attempts to improve economic governance that require a change to the European Union treaty.
The new UK government is committed to a referendum on any treaty that transfers new powers to Brussels. Mr Osborne has said he will oppose suggestions that he should show his Budget to the European Commission before presenting it to parliament.
Thomas De Maizière, Germany’s interior minister, said Berlin would increasingly seek to defend its own interest in the EU while shedding its role as passive paymaster. “Germany is going to act just as other European countries do in Brussels and this will not make it automatically anti-European,” he said.
Wolfgang Schäuble, finance minister, published a nine-point programme of proposals for more rigorous policing of the budgetary policies of eurozone members, including a proposal to draw up a procedure for “orderly state insolvencies” for countries that cannot service their debts.
Other points in his plan, to be presented on Friday at the first meeting of a task force in Brussels charged with rewriting the rules of the common currency area, include stripping countries of their votes if they persistently break stability and growth pact limits on deficit spending, and cutting them off from regional investment funds.
Mr Schäuble also wants the other 15 members of the common currency to adopt a similar national law to the German debt guillotine, a law enshrined in the German constitution committing the government to a balanced budget, with a maximum structural budget deficit of just 0.35 per cent of GDP by 2016.
Ms Merkel and Mr Schäuble are adamant that more action must be taken at the level of both the EU and the Group of 20 economies to regulate financial markets, in addition to adopting much more rigorous budget controls within the EU.
Ms Merkel called on financial institutions to give “honest advice” about how their activities should be regulated, warning they would face political measures to regulate the markets whatever happened.
Mr Schäuble appeared more sceptical. Challenged to defend Germany’s ban on naked short selling in light of the hostile reaction in the markets, the minister said: “If you want to drain a swamp, you don’t ask the frogs for an objective assessment.”
Additional reporting by Joshua Chaffin in Berlin and George Parker in London
Published: May 20 2010 12:52 Last updated: May 21 2010 11:37
Germany’s lower house of parliament on Friday approved Berlin’s contribution to a €750bn stabilisation package for the eurozone.
After fraught talks with parties in the Bundestag on Thursday, it became clear that Angela Merkel, chancellor, would win a majority in favour of German credit guarantees of up to €150bn ($187bn, £130bn) from her centre-right coalition but fail to win cross-party support from the opposition Social Democrats and Greens.
The Bundestag passed the bill with 319 votes in favour, 73 against and 195 abstentions. The Bundesrat upper house is expected to pass the bill later on Friday.
Ms Merkel’s promises of tougher rules for the eurozone and action to curb speculation in the financial markets have been part of the price to win parliamentary support for the loan guarantees. A move to ban naked short-selling of eurozone debt was also seen in Berlin as a clear political gesture to win the parliamentary majority
On Thursday Ms Merkel stepped up pressure for a global agreement on tighter financial regulation, a banking tax or levy and a financial transaction tax, while spelling out the rules it wants members of the eurozone to adopt to curb their public debts and deficit spending.
George Osborne, UK chancellor, was separately expected to tell EU finance ministers in Brussels on Friday that Britain would resist attempts to improve economic governance that require a change to the European Union treaty.
The new UK government is committed to a referendum on any treaty that transfers new powers to Brussels. Mr Osborne has said he will oppose suggestions that he should show his Budget to the European Commission before presenting it to parliament.
Thomas De Maizière, Germany’s interior minister, said Berlin would increasingly seek to defend its own interest in the EU while shedding its role as passive paymaster. “Germany is going to act just as other European countries do in Brussels and this will not make it automatically anti-European,” he said.
Wolfgang Schäuble, finance minister, published a nine-point programme of proposals for more rigorous policing of the budgetary policies of eurozone members, including a proposal to draw up a procedure for “orderly state insolvencies” for countries that cannot service their debts.
Other points in his plan, to be presented on Friday at the first meeting of a task force in Brussels charged with rewriting the rules of the common currency area, include stripping countries of their votes if they persistently break stability and growth pact limits on deficit spending, and cutting them off from regional investment funds.
Mr Schäuble also wants the other 15 members of the common currency to adopt a similar national law to the German debt guillotine, a law enshrined in the German constitution committing the government to a balanced budget, with a maximum structural budget deficit of just 0.35 per cent of GDP by 2016.
Ms Merkel and Mr Schäuble are adamant that more action must be taken at the level of both the EU and the Group of 20 economies to regulate financial markets, in addition to adopting much more rigorous budget controls within the EU.
Ms Merkel called on financial institutions to give “honest advice” about how their activities should be regulated, warning they would face political measures to regulate the markets whatever happened.
Mr Schäuble appeared more sceptical. Challenged to defend Germany’s ban on naked short selling in light of the hostile reaction in the markets, the minister said: “If you want to drain a swamp, you don’t ask the frogs for an objective assessment.”
Additional reporting by Joshua Chaffin in Berlin and George Parker in London
Monday, May 17, 2010
US Dollar Collapse: Potential Reversal GDX, HUI, XAU, FXI, TNR.v, CZX.v, GRC.to, GBN.v, EPZ.v, ASM.v, CUU.v, CPG.v, RM.v, LMR.v, GDX, GDL, SLV
0 comments Posted by andre at 3:31 PMCorporate default was exchanged on sovereign one, all bailouts were not more than transferring obligations from failed banks and other Corporations to the public finance. Bonuses were left with bankers, losses were privatised with public. Now we have on outskirts of Europe with less than 4% of EU GDP fireworks which suppose to end Euro legacy in wain. Do not rush to trash the Euro yet. Sovereign default is very different from corporate one. If the debt is issued in local currency it could be always printed more in order to repay it. U.S. Corp. is living in this space for years, UK is there and Europe will have to decide and move in support of Greece to prevent the run on the bank and collapse of the following PIIGS members.
The real drama is here above, It is Long Treasuries daily chart and it looks nervous, nobody even talks here about cuts, fiscal discipline and austerity measures. Once Europe is engaged in QE and ECB starts buying sovereign bonds from banks, attention will come back home. Recent spike in prices can be very short lived in a big picture frame.
Nothing is for certain in these days, but that candle on the chart above can mean reversal and that Green Buck Party is over. Less bad in the end is still bad. Market is ready to forget the Greece and remember California. With all investment banks discounting euro and providing parity forecast, counter rally can be very sharp. Euro below 1.2 means Europe disintegration, there are means to prevent it and intervention is already in the cards.
On the weekly chart US Dollar looks tired as well and with intervention in Japan and Europe reversal can easily tip the scales - remember in the end it is game to debase all FIAT currencies.
"It was second Deflationary Test with sudden drop in liquidity this time driven by sovereign debt crisis. Call it Run On The Bank among Big Guys. Fifteen minutes made no mistake about the state of the market and economy in deflationary environment - we have seen the future and it is ugly. Deflation spiral means death of financial market by thousand cuts - financial system is insolvent and the only way to run it is to keep liquidity high enough that nobody is testing it to deliver. QE will provide flood of money, debt will be rolled over and by destroying the value of FIAT currencies Debt will be Inflated out in the end. This time it is different - it is not only our theory, but confirmed market action. This time the most important here is that Gold was at almost all time high at the moment of test, Gold was moving up against all currencies and this time in a sharp contrast to the events of 2008 it was sharply up and over 1200 on the day of Market Crash. This new round of QE (when Europe has not even started!) will be going already from this very high base in Gold value and rising Inflation in Commodity and Growth driven economies. We will not go into the debt issue today in details and will only point out that it is a notch under 13 Trillion and in dangerously close proximity to 100% of GDP of U.S.
After pictures from Greece we do not think that anybody will go there in U.S. Corp. Deflation will be prevented by any means, it is easy and price to pay is not so obvious. Newly printed US Dollars are "free", but price to drop them is not: you need Oil to keep you helicopters flying and here will be our first conundrum: At what point price of Oil becomes prohibitive to use Helicopters by Ben Bernanke in his open market operations?"
After pictures from Greece we do not think that anybody will go there in U.S. Corp. Deflation will be prevented by any means, it is easy and price to pay is not so obvious. Newly printed US Dollars are "free", but price to drop them is not: you need Oil to keep you helicopters flying and here will be our first conundrum: At what point price of Oil becomes prohibitive to use Helicopters by Ben Bernanke in his open market operations?"
US Dollar Collapse: Potential Reversal GDX, HUI, XAU, FXI, TNR.v, CZX.v, GRC.to, GBN.v, EPZ.v, ASM.v, CUU.v, CPG.v, RM.v, LMR.v, GDX, GDL, SLV
0 comments Posted by andre at 3:31 PMCorporate default was exchanged on sovereign one, all bailouts were not more than transferring obligations from failed banks and other Corporations to the public finance. Bonuses were left with bankers, losses were privatised with public. Now we have on outskirts of Europe with less than 4% of EU GDP fireworks which suppose to end Euro legacy in wain. Do not rush to trash the Euro yet. Sovereign default is very different from corporate one. If the debt is issued in local currency it could be always printed more in order to repay it. U.S. Corp. is living in this space for years, UK is there and Europe will have to decide and move in support of Greece to prevent the run on the bank and collapse of the following PIIGS members.
The real drama is here above, It is Long Treasuries daily chart and it looks nervous, nobody even talks here about cuts, fiscal discipline and austerity measures. Once Europe is engaged in QE and ECB starts buying sovereign bonds from banks, attention will come back home. Recent spike in prices can be very short lived in a big picture frame.
Nothing is for certain in these days, but that candle on the chart above can mean reversal and that Green Buck Party is over. Less bad in the end is still bad. Market is ready to forget the Greece and remember California. With all investment banks discounting euro and providing parity forecast, counter rally can be very sharp. Euro below 1.2 means Europe disintegration, there are means to prevent it and intervention is already in the cards.
On the weekly chart US Dollar looks tired as well and with intervention in Japan and Europe reversal can easily tip the scales - remember in the end it is game to debase all FIAT currencies.
"It was second Deflationary Test with sudden drop in liquidity this time driven by sovereign debt crisis. Call it Run On The Bank among Big Guys. Fifteen minutes made no mistake about the state of the market and economy in deflationary environment - we have seen the future and it is ugly. Deflation spiral means death of financial market by thousand cuts - financial system is insolvent and the only way to run it is to keep liquidity high enough that nobody is testing it to deliver. QE will provide flood of money, debt will be rolled over and by destroying the value of FIAT currencies Debt will be Inflated out in the end. This time it is different - it is not only our theory, but confirmed market action. This time the most important here is that Gold was at almost all time high at the moment of test, Gold was moving up against all currencies and this time in a sharp contrast to the events of 2008 it was sharply up and over 1200 on the day of Market Crash. This new round of QE (when Europe has not even started!) will be going already from this very high base in Gold value and rising Inflation in Commodity and Growth driven economies. We will not go into the debt issue today in details and will only point out that it is a notch under 13 Trillion and in dangerously close proximity to 100% of GDP of U.S.
After pictures from Greece we do not think that anybody will go there in U.S. Corp. Deflation will be prevented by any means, it is easy and price to pay is not so obvious. Newly printed US Dollars are "free", but price to drop them is not: you need Oil to keep you helicopters flying and here will be our first conundrum: At what point price of Oil becomes prohibitive to use Helicopters by Ben Bernanke in his open market operations?"
After pictures from Greece we do not think that anybody will go there in U.S. Corp. Deflation will be prevented by any means, it is easy and price to pay is not so obvious. Newly printed US Dollars are "free", but price to drop them is not: you need Oil to keep you helicopters flying and here will be our first conundrum: At what point price of Oil becomes prohibitive to use Helicopters by Ben Bernanke in his open market operations?"
Gold in South America: Cornerstone Reports Significant Progress on Ecuador Permits CGP.v, AUY, NEM, ABX, TNR.v, BVN, HUI, XAU, GDX, FCX, GG, MAI.to,
0 comments Posted by andre at 5:20 AM
Related News
Cornerstone and Newmont Propose to Form a Strategic Exploration Alliance in Southern Ecuador
Primary TargetGoldLocationThe Macara concessions is approximately 75 km2 located near the Ecuador-Peru border. The Strategic Alliance area of influence encompasses approximately 2000 km2.Property InformationThe property hosts gold bearing quartz-tourmaline veins and breccias associated with an intrusive body. Recent work by Sierramin has returned assay values from channel samples up to 23.8 g/t Au over 1.0 m and 7.3 g/t Au over 1.8 m. Chip samples collected during reconnaissance prospecting returned assays of 13.0 g/t Au over 2.0 m (incl. 44.2 g/t Au over 0.5 m) and 8.3 g/t Au over 0.65 m from sulphide bearing quartz veins within shear zones cutting granites.
Primary TargetGoldLocationThe Macara concessions is approximately 75 km2 located near the Ecuador-Peru border. The Strategic Alliance area of influence encompasses approximately 2000 km2.Property InformationThe property hosts gold bearing quartz-tourmaline veins and breccias associated with an intrusive body. Recent work by Sierramin has returned assay values from channel samples up to 23.8 g/t Au over 1.0 m and 7.3 g/t Au over 1.8 m. Chip samples collected during reconnaissance prospecting returned assays of 13.0 g/t Au over 2.0 m (incl. 44.2 g/t Au over 0.5 m) and 8.3 g/t Au over 0.65 m from sulphide bearing quartz veins within shear zones cutting granites.
Press Release Source: Cornerstone Capital Resources Inc. On Monday May 17, 2010, 8:00 am
MOUNT PEARL, NEWFOUNDLAND--(Marketwire - May 17, 2010) - Cornerstone Capital Resources Inc. (TSX VENTURE:CGP - News; FRANKFURT:GWN - News; BERLIN:GWN - News; PINK SHEETS:CTNXF - News) reports that it has been issued a number of key permits needed to re-start exploration activities in Ecuador. During the first two weeks of May, Cornerstone received new titles under the January 2009 mining law to 13 of its mineral concessions including the 10 Shyri properties under option to Intrepid Mines Ltd. (see news release October 29, 2009).
Also issued by the Ecuador Ministry of Environment during this period were the approval of the Environmental Management Plan for the Gama property, part of the Shyri project, and a water permit for drilling at Gama. Cornerstone representatives are meeting with the regulators this week to determine any final steps required to initiate exploration work and will provide updates of further developments. While the permitting process has been a lengthy one under an array of new laws and regulations in Ecuador, the company is encouraged that it is progressing within the current legal framework and expects to have its final permissions in the near future.
About Cornerstone
Cornerstone Capital Resources Inc. is a mineral exploration company based in Mount Pearl, Newfoundland and Labrador, Canada, with a diversified portfolio of projects in Canada and Ecuador and a strong technical team that has proven its ability to identify, acquire and advance properties of merit. The company's business model is based on generating exploration projects whose subsequent development is funded primarily through joint venture partnerships.
Further information is available on Cornerstone's website: www.cornerstoneresources.com or for investor, corporate or media inquiries, please see contact information.
Cautionary Notice:
Certain statements contained in this press release may be considered as forward-looking. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from estimated or implied results. While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.
On Behalf of the Board,
Colin B. McKenzie, President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
MOUNT PEARL, NEWFOUNDLAND--(Marketwire - May 17, 2010) - Cornerstone Capital Resources Inc. (TSX VENTURE:CGP - News; FRANKFURT:GWN - News; BERLIN:GWN - News; PINK SHEETS:CTNXF - News) reports that it has been issued a number of key permits needed to re-start exploration activities in Ecuador. During the first two weeks of May, Cornerstone received new titles under the January 2009 mining law to 13 of its mineral concessions including the 10 Shyri properties under option to Intrepid Mines Ltd. (see news release October 29, 2009).
Also issued by the Ecuador Ministry of Environment during this period were the approval of the Environmental Management Plan for the Gama property, part of the Shyri project, and a water permit for drilling at Gama. Cornerstone representatives are meeting with the regulators this week to determine any final steps required to initiate exploration work and will provide updates of further developments. While the permitting process has been a lengthy one under an array of new laws and regulations in Ecuador, the company is encouraged that it is progressing within the current legal framework and expects to have its final permissions in the near future.
About Cornerstone
Cornerstone Capital Resources Inc. is a mineral exploration company based in Mount Pearl, Newfoundland and Labrador, Canada, with a diversified portfolio of projects in Canada and Ecuador and a strong technical team that has proven its ability to identify, acquire and advance properties of merit. The company's business model is based on generating exploration projects whose subsequent development is funded primarily through joint venture partnerships.
Further information is available on Cornerstone's website: www.cornerstoneresources.com or for investor, corporate or media inquiries, please see contact information.
Cautionary Notice:
Certain statements contained in this press release may be considered as forward-looking. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from estimated or implied results. While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.
On Behalf of the Board,
Colin B. McKenzie, President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Gold in South America: Cornerstone Reports Significant Progress on Ecuador Permits CGP.v, AUY, NEM, ABX, TNR.v, BVN, HUI, XAU, GDX, FCX, GG, MAI.to,
0 comments Posted by andre at 5:20 AM
Related News
Cornerstone and Newmont Propose to Form a Strategic Exploration Alliance in Southern Ecuador
Primary TargetGoldLocationThe Macara concessions is approximately 75 km2 located near the Ecuador-Peru border. The Strategic Alliance area of influence encompasses approximately 2000 km2.Property InformationThe property hosts gold bearing quartz-tourmaline veins and breccias associated with an intrusive body. Recent work by Sierramin has returned assay values from channel samples up to 23.8 g/t Au over 1.0 m and 7.3 g/t Au over 1.8 m. Chip samples collected during reconnaissance prospecting returned assays of 13.0 g/t Au over 2.0 m (incl. 44.2 g/t Au over 0.5 m) and 8.3 g/t Au over 0.65 m from sulphide bearing quartz veins within shear zones cutting granites.
Primary TargetGoldLocationThe Macara concessions is approximately 75 km2 located near the Ecuador-Peru border. The Strategic Alliance area of influence encompasses approximately 2000 km2.Property InformationThe property hosts gold bearing quartz-tourmaline veins and breccias associated with an intrusive body. Recent work by Sierramin has returned assay values from channel samples up to 23.8 g/t Au over 1.0 m and 7.3 g/t Au over 1.8 m. Chip samples collected during reconnaissance prospecting returned assays of 13.0 g/t Au over 2.0 m (incl. 44.2 g/t Au over 0.5 m) and 8.3 g/t Au over 0.65 m from sulphide bearing quartz veins within shear zones cutting granites.
Press Release Source: Cornerstone Capital Resources Inc. On Monday May 17, 2010, 8:00 am
MOUNT PEARL, NEWFOUNDLAND--(Marketwire - May 17, 2010) - Cornerstone Capital Resources Inc. (TSX VENTURE:CGP - News; FRANKFURT:GWN - News; BERLIN:GWN - News; PINK SHEETS:CTNXF - News) reports that it has been issued a number of key permits needed to re-start exploration activities in Ecuador. During the first two weeks of May, Cornerstone received new titles under the January 2009 mining law to 13 of its mineral concessions including the 10 Shyri properties under option to Intrepid Mines Ltd. (see news release October 29, 2009).
Also issued by the Ecuador Ministry of Environment during this period were the approval of the Environmental Management Plan for the Gama property, part of the Shyri project, and a water permit for drilling at Gama. Cornerstone representatives are meeting with the regulators this week to determine any final steps required to initiate exploration work and will provide updates of further developments. While the permitting process has been a lengthy one under an array of new laws and regulations in Ecuador, the company is encouraged that it is progressing within the current legal framework and expects to have its final permissions in the near future.
About Cornerstone
Cornerstone Capital Resources Inc. is a mineral exploration company based in Mount Pearl, Newfoundland and Labrador, Canada, with a diversified portfolio of projects in Canada and Ecuador and a strong technical team that has proven its ability to identify, acquire and advance properties of merit. The company's business model is based on generating exploration projects whose subsequent development is funded primarily through joint venture partnerships.
Further information is available on Cornerstone's website: www.cornerstoneresources.com or for investor, corporate or media inquiries, please see contact information.
Cautionary Notice:
Certain statements contained in this press release may be considered as forward-looking. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from estimated or implied results. While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.
On Behalf of the Board,
Colin B. McKenzie, President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
MOUNT PEARL, NEWFOUNDLAND--(Marketwire - May 17, 2010) - Cornerstone Capital Resources Inc. (TSX VENTURE:CGP - News; FRANKFURT:GWN - News; BERLIN:GWN - News; PINK SHEETS:CTNXF - News) reports that it has been issued a number of key permits needed to re-start exploration activities in Ecuador. During the first two weeks of May, Cornerstone received new titles under the January 2009 mining law to 13 of its mineral concessions including the 10 Shyri properties under option to Intrepid Mines Ltd. (see news release October 29, 2009).
Also issued by the Ecuador Ministry of Environment during this period were the approval of the Environmental Management Plan for the Gama property, part of the Shyri project, and a water permit for drilling at Gama. Cornerstone representatives are meeting with the regulators this week to determine any final steps required to initiate exploration work and will provide updates of further developments. While the permitting process has been a lengthy one under an array of new laws and regulations in Ecuador, the company is encouraged that it is progressing within the current legal framework and expects to have its final permissions in the near future.
About Cornerstone
Cornerstone Capital Resources Inc. is a mineral exploration company based in Mount Pearl, Newfoundland and Labrador, Canada, with a diversified portfolio of projects in Canada and Ecuador and a strong technical team that has proven its ability to identify, acquire and advance properties of merit. The company's business model is based on generating exploration projects whose subsequent development is funded primarily through joint venture partnerships.
Further information is available on Cornerstone's website: www.cornerstoneresources.com or for investor, corporate or media inquiries, please see contact information.
Cautionary Notice:
Certain statements contained in this press release may be considered as forward-looking. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from estimated or implied results. While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.
On Behalf of the Board,
Colin B. McKenzie, President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Friday, May 14, 2010
Gold in Africa: Sunridge Gold and Antofagasta Minerals Exploration Joint-Venture Update, Asmara Project, Eritrea SGC.v, NGQ.to, NSU.to, LUN.to,
0 comments Posted by andre at 4:29 AM
Company is putting another project under drill in its J/V with Antofagasta. Results from Daero Paulos drilling are disappointing so far. Asmara project is the most promising asset of the company now and recent development by Nevsun Resources with commissioning of mining equipment for mine in Eritrea will bring some tail wind with the exploration news.
Sunridge Gold Corp. (SGC-TSX-V) is a junior company that has successfully defined four independently estimated 43-101 mineral deposits on the Asmara Project, Eritrea in East Africa. A positive scoping study on the large Emba Derho copper-zinc-gold deposit was completed in June 2009.The four deposits have total indicated 43-101-resources containing:
1.28 billion pounds. of copper,
2.5 billion pounds of zinc,
1.05 million ounces of gold, and
31.2 million ounces of silver Sunridge recently entered into a strategic partnership with Antofagasta Minerals S.A. whereby Antofagasta has agreed to fund US $10,000,000.in exploration work on areas of the Asmara Project and has become the Company's largest shareholder through a US $5.0 million private placement.
Management: Sunridge is managed by an experienced team with a successful track record of discovery and development of precious and base metals projects with companies such as Bema Gold and Nevsun Resources.
1.28 billion pounds. of copper,
2.5 billion pounds of zinc,
1.05 million ounces of gold, and
31.2 million ounces of silver Sunridge recently entered into a strategic partnership with Antofagasta Minerals S.A. whereby Antofagasta has agreed to fund US $10,000,000.in exploration work on areas of the Asmara Project and has become the Company's largest shareholder through a US $5.0 million private placement.
Management: Sunridge is managed by an experienced team with a successful track record of discovery and development of precious and base metals projects with companies such as Bema Gold and Nevsun Resources.
Press Release Source: Sunridge Gold Corp. On Wednesday May 12, 2010, 8:30 am EDT
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 05/12/10) - Sunridge Gold Corp. ("Sunridge") (TSX-V:SGC - News) is pleased to announce that Sunridge and Antofagasta Minerals S.A. have commenced a new drilling program at the Adi Rassi copper-gold prospect within the Asmara Project, Eritrea, which is within the Exploration Areas and part of the joint-venture exploration funding agreement with Antofagasta Minerals announced October 2, 2009. The Adi Rassi copper/gold prospect is located about 8 kilometers southeast of the company's Debarwa high-grade copper/gold VMS deposit. The program will consist of at least four holes totaling 1,200 meters of diamond drilling.
The copper and gold mineralization at the Adi Rassi prospect is associated with quartz veins and breccia zones along a major shear zone that trends northeast and dips steeply to the west. This mineralization is mainly hosted in strongly foliated and distorted altered mafic volcanic tuff and flows. Alteration associated with copper mineralization can be seen at surface in a zone that measures about 80 meters wide along a strike length of approximately 500 meters.
From 1971 to 1974 the prospect was evaluated by the Ethio-Nippon Mining Company and a drill program of 11 diamond drill holes comprising 2,170 meters of core were completed over a 550 meters of strike length. The best results from this historic drilling were 41.3 meters of 1.77% Copper (DDH EN-7) and 33.6 meters of 1.5% copper (DDH EN-4).
Note: The above drill results are taken from the report "Adi Rassi Copper Prospect - Ore Resources Evaluation" by D.J. Toogood, December 1997, Phelps Dodge Exploration Corp. While the above historical data appears to be complete and the procedures followed appear reliable, Sunridge has not completed the work necessary to verify the reported results.
DAERO PAULOS DRILLING:
All results have recently been received from the drilling of the large Daero Paulos copper target also part of the Antofagasta joint-venture exploration funding agreement. Twelve widely spaced diamond drill holes were drilled over an area of surface alteration measuring approximately 500 meters wide and 2.5 kilometers long. The program returned only a few narrow zones of mineralization.
REGIONAL TARGET GENERATION
In addition to the above drilling programs a regional target generation program is underway covering all parts of the Exploration Areas as defined in the joint-venture exploration funding agreement with Antofagasta. Stream geochemical sampling, satellite imagery analysis and local geological mapping are the main tools being used and it is hoped that this work will result in the generation of new drill targets over the next few weeks.
ABOUT SUNRIDGE:
Sunridge is a mineral exploration and development company focused on the acquisition, exploration, discovery and development of base and precious metal projects on the Asmara Project in Eritrea and exploration properties in Madagascar.
Sunridge has approximately 76 million shares outstanding and approximately $5.5 million in cash. Sunridge trades on the TSX Venture Exchange under the symbol SGC. For additional information on the Company and its projects please view the slide show on our website at http://www.sunridgegold.com/ or call Don Halliday or Greg Davis at the numbers listed below.
NOTES:
1. A Quality Assurance/Quality Control program was part of the samplingprogram on the Daero Paulos copper prospect. This program includes chainof custody protocols as well as systematic submittals of standards,duplicates and blank samples into the flow of samples produced by thesampling.2. Samples were prepared at African Horn Testing Services (Eritrea) andanalyzed at Genalysis Laboratories (a NATA registered laboratory) inPerth, Western Australia.3. The results of the Daero Paulos copper prospect drill program have beenreviewed by Michael J. Hopley the Qualified Person for Sunridge. Mr.Hopley is also the person responsible for preparation of the technicalinformation contained in this news release and is President and ChiefExecutive Officer of Sunridge.
SUNRIDGE GOLD CORP.
Michael Hopley, President and Chief Executive Officer"
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 05/12/10) - Sunridge Gold Corp. ("Sunridge") (TSX-V:SGC - News) is pleased to announce that Sunridge and Antofagasta Minerals S.A. have commenced a new drilling program at the Adi Rassi copper-gold prospect within the Asmara Project, Eritrea, which is within the Exploration Areas and part of the joint-venture exploration funding agreement with Antofagasta Minerals announced October 2, 2009. The Adi Rassi copper/gold prospect is located about 8 kilometers southeast of the company's Debarwa high-grade copper/gold VMS deposit. The program will consist of at least four holes totaling 1,200 meters of diamond drilling.
The copper and gold mineralization at the Adi Rassi prospect is associated with quartz veins and breccia zones along a major shear zone that trends northeast and dips steeply to the west. This mineralization is mainly hosted in strongly foliated and distorted altered mafic volcanic tuff and flows. Alteration associated with copper mineralization can be seen at surface in a zone that measures about 80 meters wide along a strike length of approximately 500 meters.
From 1971 to 1974 the prospect was evaluated by the Ethio-Nippon Mining Company and a drill program of 11 diamond drill holes comprising 2,170 meters of core were completed over a 550 meters of strike length. The best results from this historic drilling were 41.3 meters of 1.77% Copper (DDH EN-7) and 33.6 meters of 1.5% copper (DDH EN-4).
Note: The above drill results are taken from the report "Adi Rassi Copper Prospect - Ore Resources Evaluation" by D.J. Toogood, December 1997, Phelps Dodge Exploration Corp. While the above historical data appears to be complete and the procedures followed appear reliable, Sunridge has not completed the work necessary to verify the reported results.
DAERO PAULOS DRILLING:
All results have recently been received from the drilling of the large Daero Paulos copper target also part of the Antofagasta joint-venture exploration funding agreement. Twelve widely spaced diamond drill holes were drilled over an area of surface alteration measuring approximately 500 meters wide and 2.5 kilometers long. The program returned only a few narrow zones of mineralization.
REGIONAL TARGET GENERATION
In addition to the above drilling programs a regional target generation program is underway covering all parts of the Exploration Areas as defined in the joint-venture exploration funding agreement with Antofagasta. Stream geochemical sampling, satellite imagery analysis and local geological mapping are the main tools being used and it is hoped that this work will result in the generation of new drill targets over the next few weeks.
ABOUT SUNRIDGE:
Sunridge is a mineral exploration and development company focused on the acquisition, exploration, discovery and development of base and precious metal projects on the Asmara Project in Eritrea and exploration properties in Madagascar.
Sunridge has approximately 76 million shares outstanding and approximately $5.5 million in cash. Sunridge trades on the TSX Venture Exchange under the symbol SGC. For additional information on the Company and its projects please view the slide show on our website at http://www.sunridgegold.com/ or call Don Halliday or Greg Davis at the numbers listed below.
NOTES:
1. A Quality Assurance/Quality Control program was part of the samplingprogram on the Daero Paulos copper prospect. This program includes chainof custody protocols as well as systematic submittals of standards,duplicates and blank samples into the flow of samples produced by thesampling.2. Samples were prepared at African Horn Testing Services (Eritrea) andanalyzed at Genalysis Laboratories (a NATA registered laboratory) inPerth, Western Australia.3. The results of the Daero Paulos copper prospect drill program have beenreviewed by Michael J. Hopley the Qualified Person for Sunridge. Mr.Hopley is also the person responsible for preparation of the technicalinformation contained in this news release and is President and ChiefExecutive Officer of Sunridge.
SUNRIDGE GOLD CORP.
Michael Hopley, President and Chief Executive Officer"
Gold in Africa: Sunridge Gold and Antofagasta Minerals Exploration Joint-Venture Update, Asmara Project, Eritrea SGC.v, NGQ.to, NSU.to, LUN.to,
0 comments Posted by andre at 4:29 AM
Company is putting another project under drill in its J/V with Antofagasta. Results from Daero Paulos drilling are disappointing so far. Asmara project is the most promising asset of the company now and recent development by Nevsun Resources with commissioning of mining equipment for mine in Eritrea will bring some tail wind with the exploration news.
Sunridge Gold Corp. (SGC-TSX-V) is a junior company that has successfully defined four independently estimated 43-101 mineral deposits on the Asmara Project, Eritrea in East Africa. A positive scoping study on the large Emba Derho copper-zinc-gold deposit was completed in June 2009.The four deposits have total indicated 43-101-resources containing:
1.28 billion pounds. of copper,
2.5 billion pounds of zinc,
1.05 million ounces of gold, and
31.2 million ounces of silver Sunridge recently entered into a strategic partnership with Antofagasta Minerals S.A. whereby Antofagasta has agreed to fund US $10,000,000.in exploration work on areas of the Asmara Project and has become the Company's largest shareholder through a US $5.0 million private placement.
Management: Sunridge is managed by an experienced team with a successful track record of discovery and development of precious and base metals projects with companies such as Bema Gold and Nevsun Resources.
1.28 billion pounds. of copper,
2.5 billion pounds of zinc,
1.05 million ounces of gold, and
31.2 million ounces of silver Sunridge recently entered into a strategic partnership with Antofagasta Minerals S.A. whereby Antofagasta has agreed to fund US $10,000,000.in exploration work on areas of the Asmara Project and has become the Company's largest shareholder through a US $5.0 million private placement.
Management: Sunridge is managed by an experienced team with a successful track record of discovery and development of precious and base metals projects with companies such as Bema Gold and Nevsun Resources.
Press Release Source: Sunridge Gold Corp. On Wednesday May 12, 2010, 8:30 am EDT
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 05/12/10) - Sunridge Gold Corp. ("Sunridge") (TSX-V:SGC - News) is pleased to announce that Sunridge and Antofagasta Minerals S.A. have commenced a new drilling program at the Adi Rassi copper-gold prospect within the Asmara Project, Eritrea, which is within the Exploration Areas and part of the joint-venture exploration funding agreement with Antofagasta Minerals announced October 2, 2009. The Adi Rassi copper/gold prospect is located about 8 kilometers southeast of the company's Debarwa high-grade copper/gold VMS deposit. The program will consist of at least four holes totaling 1,200 meters of diamond drilling.
The copper and gold mineralization at the Adi Rassi prospect is associated with quartz veins and breccia zones along a major shear zone that trends northeast and dips steeply to the west. This mineralization is mainly hosted in strongly foliated and distorted altered mafic volcanic tuff and flows. Alteration associated with copper mineralization can be seen at surface in a zone that measures about 80 meters wide along a strike length of approximately 500 meters.
From 1971 to 1974 the prospect was evaluated by the Ethio-Nippon Mining Company and a drill program of 11 diamond drill holes comprising 2,170 meters of core were completed over a 550 meters of strike length. The best results from this historic drilling were 41.3 meters of 1.77% Copper (DDH EN-7) and 33.6 meters of 1.5% copper (DDH EN-4).
Note: The above drill results are taken from the report "Adi Rassi Copper Prospect - Ore Resources Evaluation" by D.J. Toogood, December 1997, Phelps Dodge Exploration Corp. While the above historical data appears to be complete and the procedures followed appear reliable, Sunridge has not completed the work necessary to verify the reported results.
DAERO PAULOS DRILLING:
All results have recently been received from the drilling of the large Daero Paulos copper target also part of the Antofagasta joint-venture exploration funding agreement. Twelve widely spaced diamond drill holes were drilled over an area of surface alteration measuring approximately 500 meters wide and 2.5 kilometers long. The program returned only a few narrow zones of mineralization.
REGIONAL TARGET GENERATION
In addition to the above drilling programs a regional target generation program is underway covering all parts of the Exploration Areas as defined in the joint-venture exploration funding agreement with Antofagasta. Stream geochemical sampling, satellite imagery analysis and local geological mapping are the main tools being used and it is hoped that this work will result in the generation of new drill targets over the next few weeks.
ABOUT SUNRIDGE:
Sunridge is a mineral exploration and development company focused on the acquisition, exploration, discovery and development of base and precious metal projects on the Asmara Project in Eritrea and exploration properties in Madagascar.
Sunridge has approximately 76 million shares outstanding and approximately $5.5 million in cash. Sunridge trades on the TSX Venture Exchange under the symbol SGC. For additional information on the Company and its projects please view the slide show on our website at http://www.sunridgegold.com/ or call Don Halliday or Greg Davis at the numbers listed below.
NOTES:
1. A Quality Assurance/Quality Control program was part of the samplingprogram on the Daero Paulos copper prospect. This program includes chainof custody protocols as well as systematic submittals of standards,duplicates and blank samples into the flow of samples produced by thesampling.2. Samples were prepared at African Horn Testing Services (Eritrea) andanalyzed at Genalysis Laboratories (a NATA registered laboratory) inPerth, Western Australia.3. The results of the Daero Paulos copper prospect drill program have beenreviewed by Michael J. Hopley the Qualified Person for Sunridge. Mr.Hopley is also the person responsible for preparation of the technicalinformation contained in this news release and is President and ChiefExecutive Officer of Sunridge.
SUNRIDGE GOLD CORP.
Michael Hopley, President and Chief Executive Officer"
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 05/12/10) - Sunridge Gold Corp. ("Sunridge") (TSX-V:SGC - News) is pleased to announce that Sunridge and Antofagasta Minerals S.A. have commenced a new drilling program at the Adi Rassi copper-gold prospect within the Asmara Project, Eritrea, which is within the Exploration Areas and part of the joint-venture exploration funding agreement with Antofagasta Minerals announced October 2, 2009. The Adi Rassi copper/gold prospect is located about 8 kilometers southeast of the company's Debarwa high-grade copper/gold VMS deposit. The program will consist of at least four holes totaling 1,200 meters of diamond drilling.
The copper and gold mineralization at the Adi Rassi prospect is associated with quartz veins and breccia zones along a major shear zone that trends northeast and dips steeply to the west. This mineralization is mainly hosted in strongly foliated and distorted altered mafic volcanic tuff and flows. Alteration associated with copper mineralization can be seen at surface in a zone that measures about 80 meters wide along a strike length of approximately 500 meters.
From 1971 to 1974 the prospect was evaluated by the Ethio-Nippon Mining Company and a drill program of 11 diamond drill holes comprising 2,170 meters of core were completed over a 550 meters of strike length. The best results from this historic drilling were 41.3 meters of 1.77% Copper (DDH EN-7) and 33.6 meters of 1.5% copper (DDH EN-4).
Note: The above drill results are taken from the report "Adi Rassi Copper Prospect - Ore Resources Evaluation" by D.J. Toogood, December 1997, Phelps Dodge Exploration Corp. While the above historical data appears to be complete and the procedures followed appear reliable, Sunridge has not completed the work necessary to verify the reported results.
DAERO PAULOS DRILLING:
All results have recently been received from the drilling of the large Daero Paulos copper target also part of the Antofagasta joint-venture exploration funding agreement. Twelve widely spaced diamond drill holes were drilled over an area of surface alteration measuring approximately 500 meters wide and 2.5 kilometers long. The program returned only a few narrow zones of mineralization.
REGIONAL TARGET GENERATION
In addition to the above drilling programs a regional target generation program is underway covering all parts of the Exploration Areas as defined in the joint-venture exploration funding agreement with Antofagasta. Stream geochemical sampling, satellite imagery analysis and local geological mapping are the main tools being used and it is hoped that this work will result in the generation of new drill targets over the next few weeks.
ABOUT SUNRIDGE:
Sunridge is a mineral exploration and development company focused on the acquisition, exploration, discovery and development of base and precious metal projects on the Asmara Project in Eritrea and exploration properties in Madagascar.
Sunridge has approximately 76 million shares outstanding and approximately $5.5 million in cash. Sunridge trades on the TSX Venture Exchange under the symbol SGC. For additional information on the Company and its projects please view the slide show on our website at http://www.sunridgegold.com/ or call Don Halliday or Greg Davis at the numbers listed below.
NOTES:
1. A Quality Assurance/Quality Control program was part of the samplingprogram on the Daero Paulos copper prospect. This program includes chainof custody protocols as well as systematic submittals of standards,duplicates and blank samples into the flow of samples produced by thesampling.2. Samples were prepared at African Horn Testing Services (Eritrea) andanalyzed at Genalysis Laboratories (a NATA registered laboratory) inPerth, Western Australia.3. The results of the Daero Paulos copper prospect drill program have beenreviewed by Michael J. Hopley the Qualified Person for Sunridge. Mr.Hopley is also the person responsible for preparation of the technicalinformation contained in this news release and is President and ChiefExecutive Officer of Sunridge.
SUNRIDGE GOLD CORP.
Michael Hopley, President and Chief Executive Officer"
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