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Montag, 30. April 2012

Canada Zinc Metals Files Revised NI 43-101 Mineral Resource Estimate Report for the Cardiac Creek Deposit

Canada Zinc Metals Files Revised NI 43-101 Mineral Resource Estimate Report for the Cardiac Creek Deposit

Canada Zinc Metals Files Revised NI 43-101 Mineral Resource Estimate Report for the Cardiac Creek Deposit

Vancouver, British Columbia CANADA, April 30, 2012 /FSC/ - Canada Zinc Metals Corp. (CZX - TSX Venture), is very pleased to announce the filing of the revised NI 43-101 compliant technical report entitled "NI 43-101 Technical Report, Akie Zinc-Lead-Silver Project, British Columbia, Canada" dated April 27, 2012, with an effective date of March 14, 2012. This report is authored by Robert Sim, P.Geo., an independent qualified person for the purposes of NI 43-101, and documents the newly reconfigured mineral resource for the Cardiac Creek deposit, situated on the Company's 100% owned Akie property and located in northwestern British Columbia, Canada.

The report updates the work done by the Company since May of 2008, the date of the previous 43-101 compliant resource calculation. The new resource results from additional surface diamond drilling completed by the Company during the period mid-2008 to the end of 2011 and further establishes the Cardiac Creek deposit as one of the premier undeveloped zinc-rich base metal projects in the world. The new resource is summarized below.

Sonntag, 22. April 2012

Gordon Chang: China will buy gold to pay for Iranian oil

Gordon Chang: China will buy gold to pay for Iranian oil

The Best Reason in the World to Buy Gold
By Gordon Chang
Sunday, April 22, 2012
Beijing is planning to avoid U.S. financial sanctions on Iran by paying for oil with gold. China's imports of the metal are already large, and you can guess what additional purchases are going to do to prices.
On the last day of 2011 President Obama signed the National Defense Authorization Act for Fiscal Year 2012. The NDAA, as it is called, attempts to reduce Iran's revenue from the sale of petroleum by imposing sanctions on foreign financial institutions conducting transactions with Iranian financial institutions in connection with those sales. This provision, which essentially cuts off sanctioned institutions from the U.S. financial system, takes effect on June 28.
The NDAA gives the president the power to waive the sanctions depending on the availability and price of supplies from non-Iranian sources. He can also exempt financial institutions from countries that have significantly cut back purchases of Iranian petroleum. Last month the State Department announced waivers for Japan and 10 European countries. China, which has received American waivers in the past under other Iran legislation, is now Tehran's largest oil customer and investor as well as its largest trading partner. Given the new mood in Washington, Beijing cannot count on getting more exceptions in the future.
 As The Wall Street Journal noted in early January, the sanctions are "an attempt to force other countries to choose between buying oil from Iran or being blocked from any dealings with the U.S. economy." The strict measures put Chinese officials in a bind. They apparently believe their geopolitical interests align with those of Tehran, but their economy is becoming increasingly reliant on America's.
So how can Beijing keep both Iran’s ayatollahs and President Obama happy at the same time?
Simple, the Chinese can avoid the U.S. sanctions through barter. China has already been trading its produce for Iran's petroleum, but there is only so much gai lan and bok choy the Iranians can eat. That's why Iran is also accepting, among other goods, Chinese washing machines, refrigerators, toys, clothes, cosmetics, and toiletries.
The barter trade works, but Iran needs cash too. As it is being cut off from the global financial system, the next best thing is gold. So we should not be surprised that in late February the Iranian central bank said it would accept that metal as payment for oil. Last year China imported $21.7 billion in Iranian oil and exported $14.8 billion in goods and services. As the NDAA goes into effect, look for Beijing to ship gold to Iran to make up the difference.
Gold bugs, however, shouldn't get too happy about Iran's plight. There are five principal factors that will depress anticipated demand for gold used to buy Iranian oil. First, other countries will also be bartering agricultural and manufactured goods. Russia and Pakistan, for instance, will undoubtedly continue wheat-for-petroleum arrangements.
Second, Tehran, out of apparent desperation, in February said it would also accept local currencies, thereby avoiding the U.S. financial system. As a result the Indians announced in January that they would not request a waiver from the Obama administration, and they began opening rupee accounts to pay for as much as 45% of their oil purchases with their currency. In 2011 India exported only $2.7 billion to Iran while buying $9.5 billion in oil. Similarly, the Chinese, smelling blood in the water, will surely press the Iranians to accept the non-convertible renminbi.
Third, the result of sanctions is that Iran's oil exports could be cut by as much as 700,000 barrels a day. China, for instance, is increasing its oil purchases from Saudi Arabia, its largest foreign supplier. The Chinese are also buying more from the Persian Gulf emirates as well as Vietnam, Russia, and Africa. Of course, every drop of other crude decreases China's demand for Iran's.
Fourth, China and other countries are taking advantage of Iran's plight by negotiating large price reductions.
Fifth, if the Iranians are willing to accept wheat and non-tradable currencies in payment for oil, there is nothing to say they won't start agreeing to silver too.
But nothing shines like gold. And there is one other reason to be bullish on the yellow metal. "This isn’t the end of the road," noted an unnamed senior administration official to The Wall Street Journal days after the enactment of the NDAA. "There are many other sanctions we can put in place and that our multilateral partners around the world can put in place and will." As Washington tightens financial measures against Iran, the mullahs will have less access to hard currency and therefore more need for gold.
Unless, of course, they want to accumulate more Chinese washing machines.

Lateinische Münzunion // Vorläufer zum €

Freitag, 20. April 2012

I want KWN readers to take a look at the following 30 year chart, which I believe is the most important and extraordinary chart for 2012. It presents the XAU Gold Mining Index measured in terms of gold, not dollars:

“Today was another example of that, but there's an important point to be made here, Eric.

The precious metals bend a little with these bouts of selling pressure being put on them, but they come right back, which is why I describe them like a spring being wound up.  So when this spring starts to unwind, which it will, look out above.

I want KWN readers to take a look at the following 30 year chart, which I believe is the most important and extraordinary chart for 2012.  It presents the XAU Gold Mining Index measured in terms of gold, not dollars:

We’re making history here.  Gold stocks have never been this undervalued before.  We’ve had a 12 year bull market in gold, but we’ve also had a 15 year bear market in the mining shares that began with the Bre-X collapse.

It’s very rare in market history to see an outlier like this.  This is an extraordinary event.  Years from now we are going to look back and shake our heads in disbelief at how undervalued gold stocks were in 2012.

This 15 year downtrend and historic low has effectively destroyed the morale of virtually the entire gold mining investment community.  Psychologically, this has also had a tremendous dampening effect on the morale of those watching the gold bullion market.

We’re living in pretty tough times, Eric.  We all know the global economy is not doing well.  We see all of the problems that governments are trying to solve, but they are not coming up with viable solutions.  To make matters worse, the above chart is an illustration of the psychological onslaught that people who buy the mining shares have had to endure. 

This is part of the warfare against those in the gold community.  It is important to remember that before this is over, the mining shares will be trading like internet stocks.  Quality gold shares will be the Apple Computer’s of tomorrow.”

© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.

Eric King

Donnerstag, 19. April 2012

Silver underfoot — Vendome sees a potential jackpot in Mexico

Silver underfoot — Vendome sees a potential jackpot in Mexico

  Mar 23, 2012 – 11:11 AM ET
By Ted Niles
You don’t often hear the 2008 market crash described as a good thing, but to Franz Kozich-Koschitzky it was. Without that event, the President and CEO of Vendome Resources (TSXV:VDR) has no doubt that the company’s southwestern Mexico land package would have been scooped up by a larger company. “It was the luck of the financial crisis,” Koschitzky declares, “or we wouldn’t have it.”
The land package consists of three properties on the Sierra Madre Del Sur belt in Guerrero State: the 253-hectare San Javier property, the 14,722-hectare La Diana property and the 2,000-hectare San Miguel property. San Javier and La Diana were acquired by private resource company Camsim Minas SA in 2008, and between 2010 and 2011 Vendome entered into option agreements with Camsim to acquire a 50% interest in both. Vendome acquired a 100% interest in San Miguel — surrounded on all sides by La Diana — in August 2011.
What makes the properties unique, and underscores the importance of the timing of Vendome’s acquisition, is their location. Until recently, the infrastructural disadvantages of the area outweighed its long-recognized mineral potential. Over the last five years, however, the Municipality of Malinaltepec has seen a surge of development in the form of modern roads and power. As a consequence, this virgin territory — which Camsim President Derek Sutherland has described as “as though you’re walking into Mexico 400 years ago, when the Spaniards arrived” — is suddenly available to modern exploration.

Work to date has focused almost wholly on the San Javier property, and Koschitzky notes that “the very significant work there is beginning right now.” A geological team from ACA Howe will be flying to Mexico this weekend to undertake a four- to six-week initial exploration program to determine drill targets. The program will include establishing a control grid for magnetic surveys and soil sampling, induced polarization surveys on select areas, thorough sampling of vein systems and testing for lower-grade mineralization.
San Javier, which is surrounded on three sides by La Diana, is the logical starting place for an exploration program given the property’s history of artisanal mining and an abundance of silver mineralization visible at surface. During the 1970s and 1980s, small-scale mining at San Javier is reported to have produced ore averaging 1 kilogram silver per tonne. Koschitzky adds that even the tailings of the artisanal operation have yielded silver grades as high as two kilograms per tonne.
San Javier chip samples reported February 1 include
  • 1,277 grams per tonne silver, 2.39% lead and 2.51% zinc
  • 242 g/t silver, 1.77% lead and 0.15% zinc
  • 1,384 g/t silver, 0.46% lead and 0.01% zinc
  • 657 g/t silver, 7.32% lead and 4.18% zinc
Channel samples (collected by the previous optioner in December 2010) announced January 24 include
  • 8,060 g/t silver and 4.55% lead over 0.2 metres
  • 4,560 g/t silver and 5.13% lead over 0.4 metres
  • 4,920 g/t silver and 1.45% lead over 0.2 metres
  • 4,350 g/t silver and 1.03% lead over 0.1 metres
  • 4,260 g/t silver and 1.27% lead over 0.1 metres
Koschitzky comments, “You step out of the car and you see vein structure, vein structure, vein structure. It’s an absolute dream. I’ve seen so many properties in my life where you have some outcrops, and you take some samples. In this case, because you see the veins, and, because, to date, our extensive sampling suggests that the majority of the veins on the property host high grade silver, tremendous potential for silver mineralization exists right at the surface.”
Following ACA Howe’s work, Koschitzky expects to begin drilling three targets in May or June. The results of that drill program will determine how the company should proceed: continue to focus on San Javier or set its sights on La Diana, which shares very similar geology. “We don’t know what the average grade is,” Koschitzky explains. “We don’t know how deep it is. We’ve done channel samples over the whole hill and we’ve got high grade and low grade between them and on the other side. The chances are extremely good, but it’s only one hill and we have several. At La Diana you see the same structure, and it’s totally untouched. So we may have several deposits.”
The partnership with Camsim gives Vendome a notable advantage, Koschitzky argues. Because it is a Mexican company, Camsim has been able to establish good working relationships with state and local governments. He adds, “We are not seeking to be miners. What we’re trying to achieve is the discovery of a high-tonnage silver deposit.
Koschitzky reports that the company is well funded for the short term with $600,000 cash on hand, in addition to shares earned from the September 2011 sale of its option in the Ontario Highway 101 property to Lake Shore Gold (TSX:LSG). He concludes, “In my view, this is our jackpot.”
At press time, Vendome had 37.2 million shares trading at $0.255 for a market cap of $9.5 million.
Disclaimer: Vendome Resources Corp is a client of OnPage Media, and the principals of OnPage media may hold shares in Vendome.
Read more articles like this at
All information on this website is: (a) for informational purposes only; (b) not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, investment advice or sponsorship of any entity or security; and (c) not necessarily reflective of the views or policy of the Financial Post. Prior to making any investment decision, it is strongly recommended that you seek advice from a qualified investment advisor. The Financial Post does not provide or guarantee any financial, legal, tax or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security or information source, especially as it relates to mining companies. For further details, please Section 22 of

FAZ: Edelmetalle Was für drastisch unterbewertete Goldaktien spricht

Edelmetalle Was für drastisch unterbewertete Goldaktien spricht

20.04.2012 ·  Obwohl sich der Goldpreis vervielfacht hat, treten führende Goldminen-Indizes seit Jahren letztlich nur auf der Stelle. Und es gibt weitere Indizien, die Experten von historisch günstigen Bewertungen sprechen lassen.
Der Goldpreis befindet sich schon seit mehr als einem Jahrzehnt im Aufwind. Auch seit Mai 2006 hat sich der Preis für die Feinunze locker mehr als verdoppelt. Doch anders als zu vermuten wäre, hat das damit einhergehende Goldfieber viele Goldminenaktien völlig unbeeindruckt gelassen. Ablesen lässt sich das am Philadelphia Gold and Silver Sector Index. Der so genannte XAU Index, der 16 gehedgte und ungehedgte Gold- und Silberproduzenten umfasst, tritt seit Mai 2006 letztlich nur auf der Stelle.
Wenn die Goldminenaktien schon nicht gut laufen, wenn der Goldpreis explodiert, was passiert dann erst, wenn der Goldpreis nachgeben sollte, fragen sich deswegen Skeptiker besorgt. Vielleicht hat diese Befürchtung auch dazu beigetragen, dass die Aktienkurse der Goldproduzenten zuletzt deutlich unter Druck geraten sind. Hat doch jüngst die Zahl der Goldpreis-Pessimisten wieder jene der Goldpreis-Optimisten überstiegen.

Mittwoch, 18. April 2012

As sanctions bite, Syria said to be selling gold reserves at 15% discount

As sanctions bite, Syria said to be selling gold reserves at 15% discount

Syria Selling Gold Reserves as Sanctions Bite: Sources
By John Irish and Amena Bakr
Wednesday, April 18, 2012
Syria is trying to sell gold reserves to raise revenue as Western and Arab sanctions targeting its central bank and oil exports begin to bite, diplomats and traders said.
Western sanctions have halved Syria's foreign exchange reserves from about $17 billion, French Foreign Minister Alain Juppe said on Tuesday after a meeting with about 60 nations aimed at coordinating measures against President Bashar al-Assad's government.
"Syria is selling its gold at rock-bottom prices," said a Western diplomatic source, declining to say where it was being sold.
A second diplomatic source confirmed the information, adding that Damascus was looking to offload everything it could to raise cash, including currency reserves.
... Dispatch continues below ...

Zeitweilig war der Besitz und Handel mit Gold- und Silbergeld bei hoher Strafe verboten und die Bevölkerung wurde zur Abgabe an den Staat aufgefordert, um so die Akzeptanz der Assignaten als allgemeines Zahlungsmittel zu erzwingen.


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Assignat über 15 Sols von 1792, mit monarchischen Symbolen
Besonders gestalteter 1. Assignat der 1. Französischen Republik vom 21. September 1792 über 400 Livres
Assignat über 500 Livres von 1794
Die Assignaten (von französisch assignation ,Anweisung‘) waren das während der Französischen Revolution verwendete Papiergeld.[1]
Im Dezember 1789 beschloss die Nationalversammlung, die Kirchengüter zugunsten des Staates einzuziehen, um damit die enorme Schuldenlast abzubezahlen und den anstehenden Haushalt zu bestreiten. Da man nicht hoffen konnte, innerhalb kurzer Zeit den Landbesitz zu verkaufen, zahlte man den Kreditgebern die Schuld in Form von Assignaten, die die Rolle von Staatsanleihen hatten und anfangs verzinst waren. Diese konnten gegen die zur Verfügung stehenden Landgüter eingetauscht werden, wurden aber vornehmlich in Umlauf gebracht und entwickelten sich dadurch zum allgemeinen Zahlungsmittel.
Dadurch, dass der Wert des Papiergeldes angeblich vollständig durch den zum Verkauf stehenden Landbesitz gedeckt und verzinst sei, hoffte man, dass das neue Papiergeld das Vertrauen der Bevölkerung rasch gewinnen würde. Zeitweilig war der Besitz und Handel mit Gold- und Silbergeld bei hoher Strafe verboten und die Bevölkerung wurde zur Abgabe an den Staat aufgefordert, um so die Akzeptanz der Assignaten als allgemeines Zahlungsmittel zu erzwingen.

Sonntag, 15. April 2012

Ökologisch umstritten Die Goldminen der Zukunft
15.04.2012 · In den kommenden Jahren soll in mehreren großen Minen die Arbeit aufgenommen werden. Doch die Kapital- und Energiekosten sind ebenso wie die ökologischen Anforderungen hoch.
Von Gerald Braunberger

ie größte Goldmine der Welt heißt Grasberg und befindet sich im indonesischen Teil der Insel Neuguinea. Hier werden jährlich rund 2 Millionen Unzen Gold gefördert. Kaum geringer ist die Förderung der zweitgrößten Mine der Welt. Sie liegt in Usbekistan und lautet auf den Namen Muruntau.
Für Edelmetalle gilt, was für viele andere Rohstoffe ebenfalls zutrifft: Neue große Förderstätten sind nicht leicht zu entdecken. Und wenn sie entdeckt werden, liegen sie häufig geografisch ungünstig. Dies gilt auch für das größte bislang identifizierte und noch nicht ausgebeutete Goldlager.
Stattliche 39 Millionen Unzen werden unter einem Flecken im Westen Alaskas vermutet, der den Namen Donlin Creek trägt. Hierhin führt keine Straße, die das ganze Jahr über befahrbar wäre, so wie es dort auch keine Energieversorgung für den Betrieb einer großen Mine gibt. Stattdessen müsste zunächst eine rund 500 Kilometer lange Gas-Pipeline von der Küste nach Donlin verlegt werden, um dort ein eigenes Kraftwerk betreiben zu können.

Realisierung ungewiss

Donlin gehört zu jeweils 50 Prozent dem weltgrößten Goldförderer, der kanadischen Barrick Gold, und dem ebenfalls kanadischen Explorationsunternehmen Novagold. Die Planungen sehen vor, die Mine 27 Jahre lang auszubeuten, wobei für die ersten Jahre eine jährliche Förderung von 1,5 Millionen Unzen zu Kosten von 409 Dollar je Unze angenommen wird. Die Kapitalkosten des Projekts werden wegen der Abgeschiedenheit der Förderstätte auf 6,7 Milliarden Dollar geschätzt. Ob der Tagebau in Donlin jemals realisiert wird, ist derzeit noch nicht gewiss. Das Projekt befindet sich noch in der Planung; an eine Aufnahme der Förderung ist vor dem Jahr 2017 kaum zu denken.

Donnerstag, 12. April 2012

CME Lowers Silver, Copper Margins

CME Lowers Silver, Copper Margins

Tyler Durden's picture

While it is unknown if this is merely a bull trap to get yet another bubble going, then to slaughter everyone with the same relentless barrage of margin hikes as we saw in the spring of 2011, or simply volumes in commodities have gotten so low that even the CME is willing to allow a little price appreciation in exchange for participation is unknown, but as of April 16 silver initial and maintenance margins will be 12.5% lower, while copper margins are declining by 20%.

For the full list of margin changes among electricity, agri, coal, crude, freight, metals, nat gas, and refineds, see here.

Sonntag, 8. April 2012

5 days ago saw the 150th year anniversary of an event so historic that a very select few even noticed: the birth of US fiat. Bloomberg was one of the few who commemorated the birth of modern US currency: "On April 2, 1862, the first greenback left the U.S. Treasury, marking the start of a new era in the American monetary system....

150 Years Of US Fiat

Tyler Durden's picture

5 days ago saw the 150th year anniversary of an event so historic that a very select few even noticed: the birth of US fiat. Bloomberg was one of the few who commemorated the birth of modern US currency: "On April 2, 1862, the first greenback left the U.S. Treasury, marking the start of a new era in the American monetary system.... The greenbacks were originally intended to be a temporary emergency-financing measure. Almost bankrupt, the Treasury needed money to pay suppliers and troops. The plan was to print a limited supply of United States notes to meet the crisis and then have people convert the currency into Treasury bonds. But United States notes grew in popularity and continued to circulate." The rest, as they say is history. In the intervening 150 years, the greenback saw major transformations: from being issued by the Treasury and backed by gold, it is now printed, mostly in electronic form, by an entity that in its own words, is "set up similarly to private corporations, but operated in the public interest." Of course, when said public interest is not the primary driver of operation, the entity, also known as the Federal Reserve is accountable to precisely nobody. Oh, and the fiat money, which is now just a balance sheet liability of a private corporation, and thus just a plug to the Fed's deficit monetization efforts, is no longer backed by anything besides the "full faith and credit" of a country that is forced to fund more than half of its spending through debt issuance than tax revenues.

Dienstag, 3. April 2012

UBS: Crude oil – a very attractive forward curve at

Crude oil – a very attractive forward curve at
the long end
Long-dated futures contracts in Brent crude oil trade at a large
discount to the current spot price. We think this offers investors the
opportunity to build up exposure from a strategic perspective. The 18–
23% discount of the three- to five-year futures contracts vs. spot are
too low when considering that crude oil demand growth in emerging
markets is set to advance firmly in the coming years. To curb global
crude oil consumption growth and prevent it from surpassing supply
growth, global crude oil costs as a share of GDP need to stay high. We
think that global crude oil costs vs. nominal global GDP must stay at
5% or higher to balance the market. This would imply that crude oil
needs to trade around USD 135/bbl and USD 155/bbl in three to five
years. Investors who are conservative in their investment approach
should take on some long exposure on a capital-protected basis
. Those
investors who can hold 15–20% volatility should seek an outright
Dominic Schnider, Analyst, UBS AG