We would like to wish everyone a happy holidays and new year. We want to thank everyone that visited this website and those of you who have purchased our video and ball caps. We are wishing that everyone has a very good New Year.

Nick

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For those of you that have been checking on the Japanese Promissory Notes we are now going to let go for $0.005. This well be the last time that these note will be available.

Nick

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We have just decided to sell the notes to anyone that wants the notes for $0.01 on the dollar. Please feel free to contact us.

Nick

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We have been provided with some Japanese Promissory Notes that we can sell to help raise funds for Tesoro. We are going to sell the notes for $0.10 on the dollar and will purchase them back for $0.25 on the dollar at the end of 90 days.

Please feel free to contact us.

Nick

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Gold Advances in London on Dollar Weakness, Falling Equities

By Rachel Graham

July 22 (Bloomberg) -- Gold advanced for a second day in London as the dollar traded near a record low against the euro and stocks fell, boosting the appeal of the metal as an alternative investment. Silver and platinum also rose.

The dollar weakened after American Express Co., the biggest U.S. credit-card company by purchases, said second-quarter profit fell 37 percent as more consumers defaulted on loans. European stocks and U.S. index futures fell.

``It's all about dollar weakness and risk aversion,'' said Sagiv Peretz, a senior dealer at trading-system operator Finotec Trading U.K. Ltd., said by phone from London. ``We see some shifting from equities back into commodities, especially gold.''

Gold for immediate delivery gained $7, or 0.7 percent, to $972.55 an ounce as of 8:52 a.m. in London. Futures for August delivery rose $8.70, or 0.9 percent, to $972.40 an ounce in after-hours electronic trading on the Comex division of the New York Mercantile Exchange.

Assets in the SPDR Gold Trust, the largest exchange-traded fund backed by bullion, rose 0.5 percent yesterday.

Gold held by the company advanced by 3.06 tons to 705.59 tons yesterday, according to figures on the company's Web site. That's within 1 ton of the July 11 record of 705.9 tons.

Among other metals for immediate delivery, silver rose 17.5 cents, or 1 percent, to 18.595 an ounce. Platinum gained $31.25, or 1.7 percent, to $1,878.25 an ounce and palladium advanced $10.25, or 2.5 percent, to $425 an ounce.

To contact the reporter on this story: Rachel Graham in London at rgraham13@bloomberg.net

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Gold eyes $1,000/oz as investors flee stocks
Tue, Jul 15th, 2008 5:43 pm BdST


LONDON, July 15 (bdnews24.com/Reuters) - Gold jumped to a 4-month high above $980 an ounce on Tuesday and was eyeing the psychological $1,000 level as investors fleeing financial market turmoil sought refuge in the precious metal.

Spot gold hit $983.50 an ounce, the highest since March 19 before easing to $982.900/983.90 an ounce at 6:16 am (EDT), against $971.20/972.20 late in New York on Monday.

Gold has risen by more than 7 percent in the past week on financial uncertainty, a sliding dollar and record high oil.

UBS this week forecast gold prices would average $1,000 an ounce in July.

"The dominant change of the last couple of weeks has been increased fears of systemic financial risk," said metals analyst John Reade at UBS.

"There's a lot out there at the moment -- inflation and stagflation fears, the dollar's fall and geopolitical problems but the move higher has primarily been triggered by rising financial risk aversion."

The latest bout of uncertainty was triggered by fears for the future of US mortgage giants Freddie Mac and Fannie Mae.

That hit banking sector stocks and reinforced systemic risks.

"The rumors are out there in the market that there may be more regional banks in trouble," said Darren Heathcote at Investec Australia.

"That's obviously a concern for the market and this has driven people into more hard asset-based investments like gold."

Gold has risen sharply in other currencies as well as the US dollar, reinforcing gold's appeal as a hedge. Against the euro it hit a 4-month high of 615.80 euros an ounce.

$1,000 AN OUNCE IN SIGHT

Gold hit an all-time high of $1,030.80 back in March in the wake of the near collapse of Bear Stearns.

The precious metal is also supported by oil above $146 a barrel as it is seen as a hedge against fuel-led inflation.

Rising geopolitical tensions between Israel and Iran have helped push crude prices higher, which also supported gold.

"Heightened tensions towards Iran and fears of a meltdown in US financial markets triggered further flight-to-safety demand yesterday," TheBullionDesk.com said in a note.

Worries about the US banking system also hit the dollar which hit an all-time low against the euro of $1.6038, further boosting gold's credentials as a safe place for investors to park their funds.

Dealers await a speech from US Federal Reserve chairman Ben Bernanke's testimony later on Tuesday for clues to the future direction of interest rates in the United States.

The market will also be watching US producer prices and retail sales data for June.

Silver rose to $19.27/19.34 an ounce from $19.12/19.18 late in New York on Monday.

Platinum eased to $2,005.00/2,025.00 an ounce from $2,012.00/2,032.00 while palladium was unchanged at $448.50/456.50 an ounce.

bdnews24.com/th/1735 hrs.

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There's nothing like the prospect of war to kick-start the gold price again
Sabre rattling in the Middle East from Iran and Israel is again having a positive impact on the gold price, while other fundamentals are supportive too.

Author: Lawrence Williams
Posted: Saturday , 12 Jul 2008

LONDON -

Middle East war rumours are flying and the gold price is up sharply as a result, although there are a number of other strong fundamentals boosting the yellow metal's price too. Over the past couple of days, we not only have reports of more Iranian missile tests, but also of test runs by Israeli warplanes simulating attacks on Iranian nuclear facilities. How much of this is sabre rattling, and how much is for real will no doubt unfold over the next few days. But whatever happens the threat of further conflict in the Middle East is positive for gold - and extremely worrying for the rest of the world as well as for the potential protagonists.

Not only is Iran threatening Israel and America's Middle East bases with its missiles, but also to cut off the Straits of Hormuz through which a high proportion of the world's oil flows - notably from Ian itself and Iraq. This in turn has had another knock-on effect on the oil price, which had been showing signs of coming back sharply from its peaks - now proven to be a short-lived fall as new all time highs have been reached on the supply threat.

Coupled with the global economic woes and a furthering weakening of the US dollar against key currencies, gold could be set for a good boost if Middle East tensions continue, despite the mitigating impact of the northern hemisphere summer holiday season - traditionally a weak time for the metal.

The recent report from the World Gold council that members of the Central Bank Gold Agreement had sold 297 tonnes of gold so far in this agreement year (which ends in September), suggests that the full 500 tonne quota will not be released to the markets this year is positive for the market, as has been the news of a sharp fall in South Africa's first half gold production. Depending on whose figures you take, it appears that China has already overtaken South Africa as the world's leading gold producer and further changes in the gold production rankings may also be forthcoming with declines in some major producing countries possibly matched by new production elsewhere. But what does seem apparent is that the big gold price increases seen over the past few years have been insufficient to stimulate any significant global gold production increase. Indeed output may well remain flat, or even show a small decline, over the next few years.

There is also evidence that jewellery demand in India, still the world's biggest fabrication market, is beginning to pick up again after a substantial price-related fall-off, while other emerging markets like China and Vietnam are themselves beginning to have a sharp impact as their demand rises along with the increasing wealth of their populations.

We have also heard that investment demand from gold ETFs is continuing to increase soaking up any other surpluses in the gold market, and while gold may not react quite as other commodities do in terms of supply and demand parameters, the tight situation does help underpin the price.

Oil is the big unknown factor though. The strength in the oil price has tended to depress the US dollar and help drag the gold price up with it - hence part of the surge in both oil and gold on tensions in the world's major oil producing region. There are indications, though, that should tensions diminish, oil has been overblown and there could be a sharp fall ahead for us. One suspects though that gold could rapidly decouple from oil in such a scenario, although the initial impacts could certainly be negative for the metal price.

However, with even conservative analysts looking to gold back over $1,000 this year and global economic factors continuing to look bleak and inflation beginning to rear its head across the board, the precious metal's value as an inflation hedge should continue to buoy the price up. Meanwhile investment demand seems likely to continue strong, so one could feel downside risk is perhaps rather less than that of the general stock markets. With the potential of some upside at least while that for stocks in general looks flat or downwards, gold continues to look a good bet as protection against a general stock market collapse.

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COSTING MILLIONS OF DOLLARS
Big increase in illegal gold mining as price rockets
Illegal mining of gold has rocketed in many poor countries as the price has risen creating difficulies for established gold mining companies and dangers for the illegal miners themselves as well as environmental problems.

Author: Anna Stablum
Posted: Monday , 14 Jul 2008

LONDON (Reuters) -



Poor men and women in Ghana, ex-militia fighters in steamy eastern Congo and farmers in Peru are among those joining the ranks of illegal miners and risking their lives as they seek to profit from soaring gold prices.

As a new gold rush spreads to the world's remotest corners, the face-off between illegal, small-scale miners and multinational firms has cost millions of dollars and claimed lives.

Not all small-scale miners work illegally, but as international firms move into ever more remote and politically risky countries, they sometimes tread on the toes of artisanal miners who have worked that land for years.

Alternatively, the mining conglomerate's trucks and cranes can act as magnets that draw small-scale miners to a previously unexplored area.

Whatever the dynamic, the result can be explosive.

"The higher prices of gold have made illegal mining become an issue in areas where there wasn't any problem before," said Olle Ostensson, chief of the natural resources section at the United Nations Conference on Trade and Development (UNCTAD).

Gold prices have trebled over the past five years. After coming off recent highs, spot gold rose to above $950 an ounce last week as tensions in the Middle East continued to encourage investors to seek safe haven in bullion.

There are between 13 and 20 million small-scale miners around the world, according to Communities and Small-Scale Mining (CASM), a group focusing on social and environmental problems facing artisanal mining communities.

They account for about 10 percent of the global production of metals and diamonds, and 75 percent of all gemstones. Around 100 million people are directly or indirectly dependent on small-scale mining.

"High commodity prices and declining resources around them (artisanal miners) in other areas are going to mean this is a growing phenomenon in many countries," said Jon Hobbs of the UK's Department for International Development (DFID).

Hobbs also chairs CASM, which is sponsored by DFID and the World Bank and is working with multinationals to draw up guidelines on how to tackle illegal mining.

As security costs and the threat of plant closures mount, international firms are trying to find a solution.

"Companies have realized this is their biggest social problem ... and it is growing all the time ... there are mines that are getting 6,000 people (illegal miners) on their sites a week," said Kevin D'Souza, mining engineer and technical director at the consultancy Wardell Armstrong.

VIOLENT "COWBOYS"

In mineral-rich but often inaccessible parts of Africa, 6 to 8 million people work as small-scale miners.

CASM says there are between 800,000 and 1.5 million artisanal miners in Democratic Republic of Congo, between 350,000 and 650,000 in Sierra Leone and between 150,000 and 250,000 in Ghana, with thousands more across the continent.

As prices on world markets soar and reserves decline, areas that were once seen as too remote for mainstream operations are being opened up.

The intense battle for resources is sometimes causing violent clashes between multinationals and what some industry officials call "cowboys."

In Ghana, Africa's second largest gold miner after South Africa, illegal miners, known as galamseyers, have disrupted operations in several mines and are costing companies millions of dollars.

Some of the miners are local men and women, but mining firms say others come in from nearby countries.

"(The illegal miners) are all from Burkina (Faso), Togo and Benin and even Cote d'Ivoire (Ivory Coast) now too -- they are not poor locals," said Chris Anderson, mining giant Newmont's Director of Corporate and External Affairs in Africa.

"They are mostly men (aged) between 15 and 40 and there is a real cowboy macho culture that exists around them," he added. Newmont, the world's second biggest gold producer, operates the Ahafo mine in Ghana.

Some industry officials say rich backers are financing informal operators in some parts of Africa. Thieves are also targeting mines to steal diesel or copper cables, causing power cuts that can trap mine workers underground.

"Illegal mining in Ghana is increasingly larger in scale, they are using bulldozers ... they have big floodlights to work at night -- all of which means there is capital up front," said Anderson.

At least six illegal miners, aged between 14 and 20, died at AngloGold Ashanti's Obuasi mine in Ghana in the last month, officials have said.

In Peru, the world's leading silver producer and the fifth largest producer of gold, a growing number of small-scale farmers have turned to mining, UNCTAD's Ostensson said.

"Instead of earning $1 a day by farming the land, people prefer to earn $2-3 by standing in a river mining gold."

These miners often do not fully benefit from higher world prices because they usually live in remote areas where one buyer dominates the market, and they cannot afford to stockpile.

"The tragedy in all this is that the smaller miner is not being lifted out of poverty," said Paul Hollesen, vice president of environment and community affairs at AngloGold Ashanti, the world's third largest gold producer.

"It is the financier and the chain of middle people who are involved who are making more of the money," he said. Industry officials say the middlemen can include tribal chiefs or anyone with capital to invest in equipment.

The miners, though, are the ones taking the risks.

DANGEROUS BUSINESS

Gold mining is particularly dangerous because mercury, a toxic heavy metal, is often used to wash ore in fresh water streams which also provide water for surrounding communities.

Mercury cannot be degraded and persists in soil, water and living organisms. Exposure to high doses of mercury can be fatal, and relatively low doses can damage the brain, nervous system and foetuses.

But particularly in parts of Africa, where decades of conflict have destroyed industry and infrastructure, people often have no choice but to seek their fortune in the ground.

"In the (Democratic Republic of) Congo, as the war finished in the northeast a lot of the youth were militia -- they put down the gun ... and it was easy to take up the spade and start digging," said D'Souza of Wardell Armstrong.

Congo's eastern borderlands are a patchwork of militia-controlled zones and rebel fiefdoms where, despite government efforts and the official end to a 1998-2003 war, violence has persisted.

Up to 80 percent of all fighters demobilized in the eastern Ituri district since the war ended are believed to be illegal miners. Congo is rich in gold, copper, cobalt and diamonds.

"That is why the situation is particularly fragile ... for those who want to get rid of artisanal mining ... there is a high chance they will put down the spade and pick up the gun," said D'Souza, who is also part of an advisory group for CASM.

"The problems are bonded labor, exploitation of the workers, safety, and the environment," Richard Robinson, Congo representative for international non-governmental organization Pact, said.

Working conditions in most Ituri mines are atrocious and deadly cave-ins at underground mines are commonplace.

There is virtually no government presence and the miners live in hastily established communities.

Illegal miners and especially ex-militia can pose a serious security threat to established companies.

"In places like Ghana, we are not armed ... but when our security encounter a group of 30 to 40 people with machetes and clubs, we have incidents," said Hollesen at AngloGold Ashanti.

"The risk of this becoming a more common event is certainly there," he added.

Gavin Hilson, a lecturer in environment and development at the University of Reading, said the solution was simple -- mining firms should give up some land for artisanal mining to allow the poor to sustain their livelihoods.

Mining firms say the situation is more complex.

"Once they are formalized and operate under a regulatory umbrella then we can go in and provide them with equipment and provide them with loans and so on," Hilson said.

"If we look at the issue pragmatically what needs to be done is that these companies have to free up areas they are not using -- and that is not happening."

(Additional reporting by Joe Bavier in Democratic Republic of Congo, Mica Rosenberg in Mexico, Kwasi Kpodo in Ghana, Gustavo Palencia in Honduras; Editing by Mike Roddy and David Evans)

© Thomson Reuters 2008. All rights reserved.

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UPDATE: Spot Gold Hits $960/Oz, 4 Mo-High On Resurgent Crude
Fri, Jul 11 2008, 13:45 GMT
http://www.djnewswires.com/eu


UPDATE: Spot Gold Hits $960/Oz, 4 Mo-High On Resurgent Crude
(recasts lede, updates with prices, analyst comment.)

LONDON (Dow Jones)--Spot gold broke through key resistance at $950 a troy ounce Friday, to a four-month high, buoyed by resurgent crude oil, and further gains are expected.

Spot gold rose to $962.35 a troy ounce as of 1318 GMT, up almost 4% from Thursday's low.

Inflation concerns, with crude back at record levels, and comments this week by European Central Bank President Jean-Claude Trichet have underpinned gold's recent rally, said analysts.

Nymex crude oil futures topped $146 a barrel in London Friday on the back of a weaker dollar, saber rattling over Iran's nuclear program and ongoing tensions in Nigeria, which one London trader said was the dominant factor driving gold's move Friday.

Meanwhile, the dollar has fallen even further against the euro Friday, lending another pillar of support to gold as U.S. stocks sank on concerns about U.S. mortgage giants Freddie and Fannie's prospects.

Spot gold gathered renewed momentum Friday afternoon in London as the U.S. opened, fueled by a break of key technical levels between $945 and $955, which has attracted a fresh round of buying, said analyst Tom Kendall of Mitsubishi Corp.Inflation concerns are supporting gold's move with a growing view that the weak European economy means the ECB won't be able to raise rates again this year. "This is bullish for gold in that inflation is rising but central banks can't do anything about it," he said. Commodity prices are rising globally, and not just in U.S. dollar terms, but in terms of most other currencies, suggesting momentum is geared towards higher prices said analyst Dennis Gartman of industry newsletter, TheGartmanLetter.

Spot gold is breaking through key resistance in euro terms around EUR600 a troy ounce, after bouncing from "formidable" support at EUR550, he noted.

Sentiment has clearly improved towards gold over the past twenty-four hours which has helped silver and probably platinum too, said analyst John Reade of UBS.

Now that resistance at $948 a troy ounce has broken, spot gold targets $984/oz, he said.

Still, the market is "already pretty long and external drivers (specifically the dollar, oil and systemic risk fears) will need to be cooperative for this to occur," he warned.


-By Melanie Burton, Dow Jones Newswires; +44 (0)20 7842 9412; melanie.burton@dowjones.com

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Gold can help to keep bankers (somewhat) honest
Published: July 11 2008 03:00 | Last updated: July 11 2008 03:00

From Mr Chris Kniel.

Sir, Comparisons today with the Fed's monetary policy of 1929 (Letters, July 9) are clearly invalid. In the 1929 Depression, "money" was backed by and redeemable in gold. In the likely 2009 Depression, money is backed by nothing; it is fiat and created out of thin air by governments and central bankers. It is subject to rampant inflation.

Some argue that gold as money or as backing for paper money is out of date and that there is nothing special about gold, other than it is hard to mine and it is scarce. But that is exactly the point; because it is hard to mine and because it is scarce, governments and central bankers are constrained and forced into fiscal discipline.

Having something physical in the equation keeps politicians and central bankers (somewhat) honest; it makes for a sustainable system. Over thousands of years, civilisations have found physical gold and silver necessary to maintain a level playing field. That need is just as important today.

Chris Kniel,

Orinda, CA 94563, US
Copyright The Financial Times Limited 2008

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Central Bank Gold Sales At 297 Tons So Far This Year - WGC
Thu, Jul 10 2008, 14:55 GMT
http://www.djnewswires.com/eu


Central Bank Gold Sales At 297 Tons So Far This Year - WGC

LONDON (Dow Jones)--Central banks have just until the end of September to sell 203 metric tons of gold if this year's gold agreement sales quota is to be fulfilled, according to World Gold Council figures Thursday.

European central banks have sold just 297 tons of gold, far short of the 500 ton annual limit agreed by members to the Washington Gold Agreement, according to WGC.

Switzerland has sold the most, at 99 tons as of the end of June, while Sweden has sold seven tons as to July 7.

As of the end of May, the European Central Bank had sold 72 tons of gold, France had sold 85.6 tons and the Netherlands had offloaded 19.5 tons of the metal while a country not yet known has sold 14 tons of gold, according to the figures.

Last agreement year, from Sept. 27, 2006 to Sept. 26, 2007, the Eurosystem banks plus Sweden and Switzerland sold 475 tons of gold. The five-year agreement runs out next year.

-By Melanie Burton, Dow Jones Newswires; +44 (0)20 7842 9412; melanie.burton@dowjones.com

(END) Dow Jones Newswires

July 10, 2008 10:55 ET (14:55 GMT)


Copyright 2008 Dow Jones & Company, Inc.

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Dubai gold sales volume up 17% as demand risesPublished: Tuesday, 8 July, 2008, 08:23 AM Doha Time

DUBAI: Dubai’s gold jewellery sales volume rose 17% in June after picking up in the second quarter on expatriate demand, a senior gold industry executive in the Gulf Arab emirate said yesterday.
“After prices became less volatile and relatively lower later in the quarter demand picked up by almost 15%, and in June it was up by more than 17%,” Tawhid Abdullah, managing-director of the Dubai Gold and Jewellery Group told Reuters.
“We are also entering the peak of summer where demand from expatriates, mainly from India, picks up as they buy gifts crafted in gold for their friends and family back home.”
A large part of Dubai’s expatriate community, mainly from the Indian subcontinent, spends part of the summer abroad.
Gold powered to a record of $1,030.80 an ounce on March 17 on record crude oil prices, fears of inflation, and expectations of interest rate cuts in the US, making the metal more attractive as an alternative investment.
Declines in sales volume of gold jewellery sales and bullion imports earlier this year deepened anxiety among traders that the emirate may lose its lustre as a regional gold hub.
“Buyers are now used to the idea of gold trading above the $900 level, so we are seeing many more buyers than what we saw in March or even the same period last year,” Abdullah said.
Dubai is a long-established market for gold bullion and jewellery – wholesale and retail – fuelled by strong demand from the Arab world and India.
Tax-free jewellery in Dubai, one of seven members of the United Arab Emirates federation, lures many Gulf Arab and Western tourists. Traders said India’s June to September monsoon season, the prelude to the start of the country’s main wedding season, was also boosting demand in Dubai. – Reuters

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I have been informed that the stock will be sold for $1.00 per share. If you are interested there will be links installed soon.

Nick

Labels: blm, bureau of land management, nick fleming, nvf-investments.com, tda-6, tesoro del alma

Well I have decided to have Tesoro Del Alma absorbed by NVF INVESTMENTS LTD which will provide a better corporate cover for TDA-6. This would allow for some private investment if necessary. This means that Tesoro Del Alma is a wholly owned subsidary of NVF INVESTMENTS LTD. You may contact them at customerservice@nvf-investments.com nvf-investments.com is in the process of designing its web-site. But you can email them at customerservice@nvf-investments.com to get any further information.

Nick

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