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Matthew Piepenburg: Gold and Basel 3's trillion-dollar question
1:07p ET Tueday, June 28, 2021
Dear Friend of GATA and Gold:
In commentary posted today at King World News, Matterhorn Asset Management's Matthew Piepenburg examines the possible impact of the "Basel 3" banking regulations on the price of gold. Some of it is favorable and some isn't.
... Dispatch continues below ...
Asante Gold Acquires Key Exploration Land
on Ashanti and Asankrangwa Gold Belts in Ghana
Company Announcement
via Globe Newswire, Omaha, Nebraska
Friday, May 28, 2021
VANCOUVER, British Columbia, Canada -- Asante Gold Corp. (CSE: ASE / Frankfurt: 1A9 / U.S. OTC: ASGOF) reports that it has received notice from the Minerals Commission of Ghana that eight highly prospective concessions covering approximately 314 square kilometers have been recommended for transfer to Asante.
These licenses are comprised of the Diaso (104.1 km2), Juabo (59.2 km2), Manhia (18.69 km2), Dunkwa Gyimigya (32.72 km2), Gyimigya (5.52 km2), Agyaka Manso (40.0 km2), Amuabaka (28.86 km2), and Nkronua-Atifi (24.97 km2) prospecting licenses. All licenses are being acquired as issued by the Minerals Commission from Goknet Mining Co. Ltd. pursuant to the terms of agreement with Goknet dated December 28, 2016.
The concessions were variously explored by Canadian exploration juniors Nevsun Resources, Tri-Star Gold, and Golden Rule Resources in the late 1990s and most recently by PMI Gold Corp. (now Galiano Gold) from 2002 through August 2014, when rights to the land were acquired by Goknet. ...
... For the remainder of the announcement:
https://www.globenewswire.com/
For example, Piepenburg writes that banks already have plenty of "excess reserves" to cover the new capital needed under Basel 3 to offset the risk of continuing to hold "unallocated" -- that is, imaginary -- gold.
But over the long term, he adds, Basel 3 will diminish "unallocated" gold's influence on price.
Piepenburg's analysis is headlined "Gold and Basel 3's Trillion-Dollar Question" and it's posted at King World News here:
https://kingworldnews.com/gold-basel-iiis-trillion-dollar-question/
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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