Southern Arc Minerals Inc V.SA.H

Alternate Symbol(s): SARMF

Metals & Mining Industrial Metals & Minerals

Southern Arc Minerals Inc. is a Canada-based company. The Company is primarily engaged in the project generation and investments in mineral resource companies with a focus on gold and copper-gold. The Company operates through the acquisition and exploration of resource properties and investments segment. The Company has not generated any revenue.

TSXV:SA.H - Post by User

Southern Arc Minerals Inc

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Comment by soccer57on Apr 02, 2009 9:48am

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Post# 15890699

Mountaineer Check custodian of GLD

One more point to emphasize here, HSBC is the custodian of GLD. (I am using the S1 prospectus filed with the SEC on 11/16/04). If it is the case that GLD is leasing out the gold in GLD, and if HSBC were to go bust, the GLD Prospectus clearly states on page 13 that "gold held in the Trust's unallocated gold account and any Authorized Participant's unallocated gold will not be segregated from the Custodian's assets. If the Custodian becomes insolvent, its assets may not be adequate to satisfy a claim by the Trust or any Authorized Participant. In addition, in the event of the Custodian's insolvency, there may be a delay and costs in incurred indentifying the bullion held in the Trust's allocated gold account."

best wishes
soccer

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