Is Inflation Coming to the US?

June 30, 2009

Many of the market forecasters are predicting that an aggressive inflationary cycle could be coming down the pike based on what can only be reasonably described as out of control spending by the current administration. Is the US headed down the path of hyperinflation the likes of which destroyed currencies in Yugoslavia and Zimbabwe?

Improbable? Impossible?  – – View this 3 part online video presentation and come to your own conclusions.  The scenario posed in this series, put forth by visionaries such as Marc Faber, Peter Schiff and Jim Rogers could dramatically move the markets for hard assets such as gold, silver, and energy . . . . and crush the purchasing power of the US dollar.  To view the full video, just click on the link below and then press play.

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Victoria Gold to Fast Track Eagle Gold Project

June 29, 2009

Victoria Gold Corp. (TSX-V: VIT) is pleased to announce the commissioning of a Pre-feasibility Study and a comprehensive Project Proposal that satisfies the requirements of the Yukon Environmental and Socio-Economic Assessment Act, and all associated permits necessary for the development of the Eagle Gold Project.

“Victoria aims to advance our two core projects – the Eagle Gold Project and the high-grade gold Cove Project in Nevada – to production in a timely manner”, said Chad Williams, CEO, President, and Director of Victoria Gold. “We have already made notable progress in the very short time that we have controlled the Eagle Gold Project.”

Victoria now aims to complete a National Instrument (NI) 43-101 pre-feasibility study on the Eagle Gold Project by year-end 2009 and submit the Project Proposal to the Yukon Environmental and Socio-economic Assessment Board in Q2 2010.

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Triangle Petroleum Announces Shareholder Meeting

June 29, 2009

Triangle Petroleum Corporation (the “Company” or “Triangle”) (TSX-V:TPENews) (OTC.BB:TPLMNews) is pleased to announce details of its Annual Meeting of Stockholders, which will be held in Calgary, Alberta.

The Annual Meeting of Stockholders will be held on Wednesday, July 8, 2009 at 11:00am MST in the boardroom at the Company’s head office in Calgary, Alberta, located at Suite 1250, 521 3rd Avenue SW. Among several proposals to be considered and acted upon will be the election of directors, adoption of a stock option plan and an amendment to the Company’s Articles of Incorporation.

Registered stockholders can access the Company’s Proxy Statement and Form 10-K at www.cstproxy.com/trianglepetroleum/2009. Online voting can be completed using control numbers that have been furnished to each stockholder by mail along with written instructions.

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Geovic Reports Progress Toward Resolving Accounting Dispute

June 29, 2009

Per the press release below, Geovic has announced progress toward resolving its accounting dispute with SNI, the minority shareholder in its Geovic Cameroon joint venture.  While the dispute remains outstanding, this release indicates that progress has been made and that every attempt will likely be made to reach an amicable solution.

Geovic Mining Corp. (“Geovic” or “the Company”) (TSX:GMCNews)(OTC.BB:GVCMNews) announces that two of the legal actions initiated by Societe Nationale D’Investissement du Cameroon (“SNI”) against its majority-owned subsidiary, Geovic Cameroon Plc (“GeoCam”), were not acted upon by the Court of First Instance of Yaounde-Centre Administratif.

In summary, the Court declined to rule on two of the actions because it deemed itself to not be a competent authority to make such rulings. Consequently, SNI was not granted the emergency relief it sought, and therefore (a) Deloitte & Touche Afrique Centrale Sarl (“Deloitte”) was not removed as GeoCam’s statutory auditor, and (b) GeoCam’s Annual Shareholder Assembly (ASA) set for June 26th, 2009 was not cancelled.

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China Reiterates Call for New World Reserve Currency

June 26, 2009

June 26 (Bloomberg) — China’s central bank renewed its call for a new global currency and said the International Monetary Fund should manage more of members’ foreign-exchange reserves, triggering a decline in the U.S. dollar.

“To avoid the inherent deficiencies of using sovereign currencies for reserves, there’s a need to create an international reserve currency that’s delinked from sovereign nations,” the People’s Bank of China said in its 2008 review released today. The IMF should expand the functions of its unit of account, Special Drawing Rights, the report said.

The restatement of Governor Zhou Xiaochuan’s proposal in March added to speculation that China will diversify its currency reserves, the world’s largest at more than $1.95 trillion. Chinese investors, the biggest foreign owners of U.S. Treasuries, reduced holdings by $4.4 billion in April to $763.5 billion after Premier Wen Jiabao expressed concern about the value of dollar assets. That reduction came a month after China boosted its holdings by $23.7 billion to a record.

“Zhou Xiaochuan sees the current international financial system is flawed, putting too much emphasis on the dollar as a reserve currency,” said Kevin Lai, an economist with Daiwa Institute of Research in Hong Kong.

To view the complete article, click here.


China Should Buy More Gold

June 26, 2009

BEIJING, June 25 (Reuters) – China should buy more gold because the dollar is poised for a fall and the metal is needed to support the greater international role envisaged for the yuan, a senior researcher with the ruling Communist Party said on Thursday.  

Li Lianzhong, who heads the economic department of the Party’s policy research office, said China should use more of its $1.95 trillion in foreign exchange reserves to buy energy and natural resource assets.  Speaking at a foreign exchange and gold forum, Li also said that buying land in the United States was a better option for China than buying U.S. Treasury securities.

“Should we buy gold or U.S. Treasuries?” Li asked. “The U.S. is printing dollars on a massive scale, and in view of that trend, according to the laws of economics, there is no doubt that the dollar will fall. So gold should be a better choice.”

There is no suggestion that Li, even though he is a senior researcher, was enunciating an agreed party line.  However, a debate is swirling in China about how the country can reduce its exposure to the dollar and to U.S. assets in case America’s ultra-loose fiscal and monetary policy rekindles inflation and erodes the value of the dollar and U.S. Treasuries.

To view the complete article, click here.


Dejour Retains Key Strategist for Company’s Piceance Basin Development

June 25, 2009

Dejour Enterprises Ltd. (NYSE AMEX: DEJ/TSX: DEJ) announced on June 25, 2009 the appointment of Stephen R. Mut to serve as the Special Assistant to the CEO/COO. Mr. Mutt will provide expertise for key financing and asset strategies targeting the Company’s Piceance Basin projects.

Mr. Mut brings valuable oil and gas experience to Dejour including most recently as chief executive officer of a unit of Shell Exploration and a long career with ARCO (Atlantic Richfield Company), where he served in various internationally based executive roles in both upstream and downstream businesses.

Commenting on the news, Dejour’s CEO, Mr. Robert Hodgkinson stated: “Mr. Mut’s industry experience and leadership compliments Dejour’s in house expertise to seize and realize the opportunity in the Piceance Basin. We look forward to his strong skill set assisting us to realize the value that exists in our premium projects”.

We continue to see positive developments coming from the Dejour camp that include: cleaning up their balance sheet, streamlining their business strategy, and putting key people with “big oil” industry experience in roles that can make a difference. With many of Dejour’s primary project areas gearing up again to get the drills turning on both proven prospects and highly prospective targets, we expect the latter half of 2009 to be a catalyst period for the Company’s production and reserve growth – and anticipate a steady stream of news from this highly active junior E & P group.

To read the full press release click here.