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Golconda Gold Ltd GG


Primary Symbol: V.GG Alternate Symbol(s):  GGGOF

Golconda Gold Ltd. is a Canada-based un-hedged gold producer and explorer with mining operations and exploration tenements in South Africa and New Mexico. The Company operates through its wholly owned subsidiary, Galane Gold Mines Ltd., two assets: a producing gold mine which also has the rights to certain mineral exploration tenements (the mine and mineral exploration tenements collectively, the Galaxy Property) located in the Republic of South Africa (South Africa) through subsidiaries located in South Africa, and a gold and silver mine and processing infrastructure located in the United States of America (the Summit Property) that is in care and maintenance. The Galaxy gold is situated approximately eight kilometers (km) west of the town of Barberton and 45 km west of the provincial capital of Nelspruit in the Mpumalanga Province of South Africa. The property covers approximately 58.6 square kilometers (km2) is part of the prolific Barberton Greenstone Belt.


TSXV:GG - Post by User

Bullboard Posts
Comment by Wheeler44on Aug 08, 2006 5:47pm
183 Views
Post# 11200044

Fed Leaves Key Interest Rate Unchanged

Fed Leaves Key Interest Rate UnchangedFed Leaves Key Interest Rate Unchanged Tuesday August 8, 4:53 pm ET By Martin Crutsinger, AP Economics Writer Federal Reserve Leaves Key Interest Rate Unchanged - at 5.25 Percent, Its First Pause in 2 Years - WASHINGTON (AP) -- The Federal Reserve left a key interest rate unchanged Tuesday, ending what had been the longest unbroken stretch of Fed rate increases in recent history. The Fed's rate-setting committee voted 9 to 1 to leave the federal funds rate, the interest banks charge on overnight loans, at 5.25 percent. It was the first time the Fed had met and not raised rates in more than two years. However, the relief for millions of business and consumer borrowers could be only temporary. The central bank said that "some inflation risks remain," holding out the possibility that it could resume raising rates at future meetings. Wall Street, which had posted a strong rally when Fed Chairman Ben Bernanke had raised the possibility of a pause last month, rose initially after the announcement, but then dipped - into negative territory. Analysts attributed the slight decline to a decision by investors to take quick profits after the Fed took the action that had been expected. The Dow Jones industrial average finished the day down 45.79 points to close at 11,173.59. Private economists speculated on what might happen next; some predicted the Fed could be finished with the long string of rate hikes, while others said it may see the need for possibly one more increase at either the September or October meeting. "I think the odds are slightly against another rate hike at the moment," said David Jones, head of DMJ Advisors, a Denver-based consulting firm. "The Fed is putting its primary emphasis on the weakening economy and less emphasis on inflation." The Fed decision means that banks' prime lending rate, the benchmark for various consumer and business loans, will remain at 8.25 percent. Before the Fed started raising rates in June 2004, the prime had been at 4 percent, its lowest point since 1958. In 17 consecutive meetings stretching from June 2004 through June 2006, the Fed boosted the funds rate from a 46-year low of 1 percent to the current 5.25 percent, all in an effort to slow the economy enough to keep inflation under control??? - -- Btw. stay with Gold Mines - Got Goldcorp & FMNJ Gold & Silver Mines? - Goldcorp & Franklin Cerro Rico Silver Mines is 99% more Safety than - Ex. ETF! - Ex. ETF's - a bureaucratic trap - to easy confiscate your - Gold & Silver holdings? - like they robbed the Priv. - Gold holdings - 1934 ! - Its 100% harder to confiscate your Goldcorp & Cerro Rico - FMNJ shares - Got The Liberty of Goldcorp and your 3pennyworth - FMNJ Gold % Silver Mines Treasures? - https://www.investorshub.com/boards/board.asp?board_id=5404 https://www.investorshub.com/boards/board.asp?board_id=5406 https://www.franklinmining.com/Home/tabid... Ps. Silver - is a strategic war metal - good excuse to use - ex. if they want to confiscate - your ETF or your priv. Gold & Silver bars, coins holdings etc. FYI. - fiat dollars & the banksters frauds - Money Masters: Federal Reserve History part 1 of 3 https://video.google.com/videoplay?docid=8442305921010099392&q=conspiracy Money Masters: Federal Reserve History part 2 of 3 https://video.google.com/videoplay?docid=5020331178524208549&q=conspiracy Money Masters: Federal Reserve History part 3 of 3 https://video.google.com/videoplay?docid=6666372716915416357&q=conspiracy https://biz.yahoo.com/ap/060808/fed_interest_rates.html?.v=22
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