Beiträge von ThaiGuru

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Reuters

Goldpreis scheitert an Marke von 420 Dollar

Mittwoch 24. März 2004, 17:57 Uhr

London, 24. Mär (Reuters) - Der Goldpreis ist am Mittwoch an der Marke von 420 Dollar je Feinunze gescheitert und hat in der Folge etwas nachgegeben. Die Notierungen im europäischen Geschäft lagen aber noch leicht über der Vortagesmarke. Nach Händlerangaben dürfte der Aufwärtstrend bei Gold aber weiterhin intakt sein, es könnte aber zu einer Phase der Konsolidierung kommen. Die Dollarschwäche verleihe dem gelben Metall Unterstützung.

Das Hauptaugenmerk des Marktes galt Platin, das im Handel in Asien mit 924 Dollar je Feinunze einen neuen Höchststand seit 24 Jahren verzeichnet hatte. Platin wird nicht allein als Schmuck sondern auch in der Industrie benutzt und bereits im vergangenen Jahr überstieg die Nachfrage konjunkturbedingt die Produktion.

Gold notierte zum europäischen Handelsschluss bei 417,60/418,10 (Vorabend 416,00/416,75) Dollar. Das zweite Londoner Fixing lautete auf 415,25 Dollar nach 417,60 Dollar am Vormittag. Der Kilopreis wurde von einer Schweizer Grossbank mit 16.914/17.164 (16.730/16.980) sfr angegeben.

Silber notierte zuletzt bei 7,69/7,71 (7,54/56) Dollar je Feinunze.

ajs/

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M I L L I A R D E N L O C H

Bundesbank kein Goldesel

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Der Gewinn der Deutsche Bundesbank ist im vergangenen Jahr auf den niedrigsten Wert seit 17 Jahren eingebrochen.

Der Jahresüberschuss schrumpfte auf 248 Millionen Euro nach 5,4 Milliarden Euro im Vorjahr – das ist ein Minus von 95 Prozent. „Grund dafür ist neben dem schwachen Dollar vor allem das niedrige Zinsniveau", sagte Bundesbank-Präsident Ernst Welteke am Mittwoch in Frankfurt. In den 70er-Jahren hatte die Bundesbank wegen des ähnlich schwachen Dollar Verluste gemacht und damals kein Geld an den Bund abgeführt. Trotz des Milliardenausfalls ist nach Worten von Finanzminister Hans Eichel keine höhere Neuverschuldung notwendig.

Der nach Berlin überwiesene Betrag liegt weit unter den 3,5 Milliarden Euro, die Eichel bereits im Bundeshaushalt 2004 eingeplant hat. Der unmittelbare Einnahmeausfall beläuft sich nach seinen Angaben auf 3,25 Milliarden Euro. Ein Ausgleich könnte unter anderem die Steuerreform bringen: Die Entlastungen fallen niedriger aus, als ursprünglich geplant.

Zudem scheinen die Steuereinnahmen in den ersten Monaten höher zu sein, als erwartet worden war. (Mit welchem buchhalterischen Trick?TG)Nach „gegenwärtiger Einschätzung und bei positiver gesamtwirtschaftlicher Entwicklung“ komme es nicht zu einer Überschreitung der geplanten Nettokreditaufnahme, sagte Finanzministeriumssprecher Jörg Müller.

Keine Goldverkäufe

Der Bundesbankpräsident wies Forderungen aus der Regierungskoalition zurück, den niedrigen Gewinn durch Goldverkäufe auszugleichen und die Erträge zur Schuldentilgung zu verwenden. „Damit würden nur neue Verschuldungsspielräume eröffnet", sagte Welteke. „Es ist sachgerecht, den Vermögenserhalt sicher zu stellen.“

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Reuters

Frankreichs Notenbankchef lehnt Debatte über Goldverkauf ab

Mittwoch 24. März 2004, 20:40 Uhr

Paris, 24. Mär (Reuters) - Der französische Notenbankchef Christian Noyer hat eine Debatte über den Verkauf von Goldreserven zur Forschungsfinanzierung abgelehnt.

Zitat

"Diese Debatte gefällt mir nicht sehr, weil es eine Debatte ist, die nicht existiert und nicht existieren kann",

sagte Noyer, der dem Rat der Europäischen Zentralbank (EZB) angehört, am Mittwoch in Paris. Die französische Forschungsministerin Claudie Haignere hatte in diesem Monat einen Goldverkauf vorgeschlagen, nachdem 2000 Wissenschaftler
ihre Arbeit in den Labors niedergelegt und mehr staatliche Mittel gefordert hatten. Frankreich hat fast 3025 Tonnen Gold mit einem Wert von 31,4 Milliarden Euro.

Auch in Deutschland gibt es eine Diskussion über Goldverkäufe. Bundesbankpräsident Ernst Welteke, der ebenfalls dem EZB-Rat angehört, sagte mit Blick auf die von der Bundesbank angestrebten Goldverkäufe, die Zentralbank sei nur bei einer Wiederanlage der Verkaufserlöse zu Veräußerungen von Gold bereit. Die Zentralbank wolle die Substanz des Goldvermögens erhalten. Welteke hatte vorgeschlagen, mit den Zinserträgen einen Bildungsfonds zu finanzieren. Dies war jedoch auf Ablehnung bei Haushaltspolitikern aller Parteien gestoßen, von denen viele die Erlöse zum Schuldenabbau verwenden wollen.

Die Bundesbank kann unter dem ab Herbst geltenden neuen Goldabkommen der Zentralbanken 600 ihrer 3440 Tonnen Gold über fünf Jahre verkaufen. Nach derzeitigen Kursen würde das einen Erlös von mehr als vier Milliarden Euro ergeben.

seh/akr

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Source: Avalon Gold Corporation

Avalon Gold Listed on Berlin Stock Exchange

BELLINGHAM, Wash., March 24, 2004 (PRIMEZONE) -- Avalon Gold Corporation (OTCBB:AVGC) reports that the Company is now listed on the Berlin Stock Exchange under the equity symbol UAM with the ISIN Code/German Cusip Number US05343E1047/358102.

Berliner Freiverkehr (Aktien) AG, one of Germany's largest brokerage firms and market makers for the Unofficial Regulated Markets in Berlin and Frankfurt will act as the Company's market maker.

Berliner Freiverkehr (Aktien) AG has dual-listed over 6,800 foreign equities in Berlin and 350 in Frankfurt. Trading volume in 2003 pertaining to the OTC market in Berlin was 11.8 Billion Euro Dollars.

"Having Avalon Gold listed in Berlin will enable German investors, large and small, to buy shares in the Company in domestic currency, making the transactions easier and less expensive to the investor," states Avalon Gold President, Robert Waters.

Avalon Gold Corporation is an aggressive gold mining company focused on finding, exploring and developing exceptional gold properties internationally.

/s/ Robert Waters ---------------------- Robert Waters, President

For further information contact Joseph Beyrouti at: 1-888-488-6882 Visit our web site at http://www.avalongold.ws.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and evaluation of products and other risks detailed from time to time in Avalon's filings with the Securities & Exchange Commission.

CONTACT: Avalon Gold Corporation
Joseph Beyrouti
(888) 488-6882
http://www.avalongold.ws

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http://www.newsalert.com/bin/s…yTitle=Metals&Type=metals

March 24, 2004 08:30

Glamis Gold Discovers High Grade Gold and Silver Mineralization at La Hamaca

RENO, Nev., Mar 24, 2004 (BUSINESS WIRE) -- Glamis Gold Ltd. (NYSE:GLG)(TSX:GLG) today reported initial drilling results at the La Hamaca prospect, located approximately three kilometers north of its Marlin project in Guatemala. La Hamaca is the northern-most of five targets within a six kilometer radius of Marlin.

Reverse circulation drilling has identified high grade gold and silver mineralization similar in grade and character to the veins at Marlin. The first phase, 10-hole program has identified gold mineralization within an East-West trending high-angle vein, hosted within altered andesite. The quartz-calcite vein has been traced by drilling and surface outcrop sampling along a strike length of 280 meters within a gold-in-soil anomaly of 800 meters in length. Additional untested structures containing gold and silver mineralization have been identified by surface sampling within a 200 meter distance to the south.

Significant drilling results are as follows:

True
Hole Interval Width Gold Silver Au Equiv
Number (m) (m) (g/t) (g/t) (g/t)
------ ------------- ----- ---- ------ --------
LH04-01 141.0 - 150.0 5.2 23.3 735 34.6
LH04-02 178.5 - 180.0 0.9 8.0 213 11.3
LH04-04 130.5 - 135.0 2.6 31.3 1,240 50.4
LH04-09 99.0 - 103.5 3.2 13.8 373 19.5

weiter....

http://www.newsalert.com/bin/s…yTitle=Metals&Type=metals

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http://news.silverseek.com/TedButler/1080149249.php

Testing Your Brain - Silver

By: Theodore Butler

The price of silver has surged to multi-year highs, to levels last seen 16 years ago. That means that anyone who purchased silver any time since 1988 should be holding silver at a profit. More specifically, at $7.50 per ounce, silver is more than 50% higher than its $4.80 average price for the past 15 years. It also means that anyone holding a short position in silver sold since 1988, now has a losing position.

A 50% or greater price change in any commodity is ordinarily big news, particularly when a commodity's price has been comatose for years, or decades, as silver's has been. Such large percentage price changes, especially when they occur suddenly (silver's price gain has taken only a few months), usually impact both the supply and demand sides of the fundamental equation. Silver is different, of course, than most commodities in that both its demand and supply are said to be price-inelastic. That means that price rises in silver have little short term impact on increasing supply or production, and little impact on reducing demand or consumption. So far, the price-inelastic label on silver has proven to be true, as there has been little evidence that the price surge has reduced demand or increased supply.

While the evidence suggests no falloff in actual industrial silver consumption, there has been a decided increase in the rhetoric of the industrial silver users. The sharp increase in the price of silver does impact bottoms lines, even if it doesn't alter near term production and consumption. The silver industrial users must pay more, and that's painful for them. Since there is not much that these users can do, except to pass the silver cost increase along to their customers, we might expect to hear them moan about the silver price rise.

So it was no surprise to read the following passages from a Bloomberg story aboutr industrial silver users.

March 17 (Bloomberg) -- Ames Goldsmith Corp. co-founder Ronald Davies, who sells metal powders used by Dow Chemical Co. and Fuji Photo Film Co., said a rally in silver prices to a six- year high may force some customers to seek cheaper alternatives.

Glens Falls, New York-based Ames Goldsmith, a closely held company that processes about 50 million ounces of silver a year, will offer a copper-based coating that can be used in place of an all-silver product used to shield phones and computers from electromagnetic inference. The copper version sells for 75 percent less at $50 a kilo, Davies said.

``We are concerned substitution will accelerate and reduce our market, particularly in the electronics world,'' Davies, 71, said in a telephone interview.

Silver's rally ``is going to make traditional photography more expensive and less competitive with digital,'' said Davies, who sells silver nitrate crystals to film makers Fuji, Konica Minolta Holdings Inc. and Polaroid Corp. Ames Goldsmith passes on the higher silver prices to customers, he said.

Ames Goldsmith, which employs 125 in four processing plants, sells silver oxide salts to Dow Chemical, the largest U.S. chemical maker, for catalysts used in making ethylene oxide found in engine antifreeze, polyester fibers and adhesives. Ames supplies DuPont Co., the second-largest chemical maker, with silver nitrate crystals used on capacitors found in cell phones and other electronic appliances such as television sets.

Davies, who came to Malvern, Pennsylvania, in 1966 as a chemist for Johnson Matthey Plc before helping to found Ames Goldsmith in 1979, says he doesn't own any bullion after watching the market for more than three decades.

"There are people touting silver as a good investment, but if you look at silver over the course of ages, it's been one of the worst investments you can possibly pick,'' Davies said. "It's all right for Warren Buffett to invest in the silver market because he's got tons of money. But for the average person to invest in the silver market today, they need to get their brains tested.''

I'd like to dissect what Mr. Davies really said and to strongly urge you to follow his advice and test your thinking about silver. First, copper is a commodity that has excellent electrical conductivity properties. In fact, it is second in conductivity only compared to silver. Whenever copper, which is priced and quoted by the pound or ton, can be substituted for silver, which is priced by the ounce or gram, I would expect a user to do so and not merely issue a threat about doing it in an article about the recent increase in the silver price. Second, while digital photography is growing, there is no credible evidence to suggest it’s because silver-halide photography is about to get too expensive. As I have written previously, the silver-halide process has become the lowest cost version of photography, and it would take truly monumental increases in the price of silver to warrant a significant impact on the price of film.

Finally, Mr. Davies pulls out all stops in stating that silver is a bad investment for regular people, but is somehow OK for the world's most successful investor, Warren Buffett, because of his "tons of money." That's silly, as the size of one's bankroll has no bearing on the objective merits of any investment. Silver has been a poor investment if one bought it at the very high prices of the past. The same could be said about any asset purchased when overvalued. Certainly, anyone buying silver at the average prices of the recent past few years had very low risk, the hallmark of a good investment.

As a card-carrying member of the Silver Users Association (SUA), Mr. Davies will always to discourage anyone from investing in silver. The SUA will never represent silver as a good investment because this would provide competition for the scarce remaining silver supply. To me, this is clearly public misrepresentation, which should be of concern to Bloomberg, the CFTC, the COMEX, and any regulator or organization concerned with upholding the truth and fair dissemination of market information. I don't think the Silver Users Association, or its members, should be allowed to misrepresent the investment merits of silver publicly, without full disclosure that members are in direct competition with silver investors.

Mr. Davies labels as touts those who promote silver as a good investment. I suppose he would include me in that characterization. But I will tell you this - whereas Mr. Davies or any other public spokesman for the SUA will always represent and misrepresent silver as being a poor investment regardless of price and supply/demand fundamentals, if I felt silver were overpriced or if the fundamentals were not favorable, I would say so. That is not to say I will not or could not be wrong, just that I don't have to be bullish on silver, or anything else, like the SUA has to be bearish on silver, for their own ulterior purposes.

The fact that there is such a users organization for silver, alone among all commodities, should reassure silver investors as to just how valuable and coveted silver is. After all, there is no gold nor platinum nor diamond nor any other commodity users association, constantly urging the public not to invest.

Test your brains, and ask yourself, why just silver?

Two things left out of the Bloomberg article were the epic short position in COMEX silver and the billion plus silver ounces loaned out in the leasing scam over the past two decades. That's curious because it is widely believed that some members of the Silver Users Association have been big lessors of silver. I know that it's crazy for a user to borrow material and consume it and then to pretend he might be able to pay it back one day, but that's how the crazy (and manipulative) world of silver leasing works. Of course, a rising silver price is the absolutely worst thing that could happen to someone who leased silver and can't pay it back. It can easily crush an enterprise to the point of extinction.

Where do we go from here in silver and what's an investor to do? Could we have a sharp sell-off? Of course, we could. Could we explode in price at any moment? Yes, we could.

We do know that silver is still in a deficit and we consume more than we produce. We know that silver is still in the most bullish condition a commodity can be in. There is no credible evidence that the price move to $7.50 has impacted the deficit in any way. Talk of substitution doesn't lessen demand, only real substitution does. That means that the price must go higher to eliminate the deficit. Not because I say so, but because it is mandated by the law of supply and demand.

Only higher prices will eliminate the deficit, according to economics 101. While short-term sell-offs are possible, eventual higher prices are mandatory. The urge to capture a 50% short term move is tempting, but is it prudent? Trying to focus on the possible (a short term sell-off), at the expense of the mandatory (certain long term higher prices) seems a prescription for missing a once-in-a-lifetime opportunity. If you've been fortunate enough to have acquired silver at cheap average prices, sit back and be patient.

What about those who are new to the silver story and are just now learning of this exceptional opportunity? It is highly unlikely you will be able to acquire silver at the low prices that prevailed, up until recently. But all is not lost. Silver in the single digits should still prove to be an investment bargain. In addition, now that silver appears to be "in play", the tradeoff for having to pay higher prices is that newcomers won't have to wait as long as long as others have. We have entered an exciting price period in silver. As a precaution from entering the market before a sharp sell-off, new buyers may not wish to commit to a fully invested position. Hold some reserves to exploit any correction. I am referring to fully-paid-for, unleveraged positions. Also, get used to increasing volatility, which is here to stay and will intensify.

The near term fate of the silver price rests upon the resolution of the mammoth COMEX naked short position.

Tell me what the commercial naked shorts will do with their position, and I will tell you what silver will do. If they try to cover their shorts in earnest, the price will rocket up. If they add to their short positions, they will contain the price rise and it remains possible for them to maneuver the price lower to induce technical fund and speculator selling. If they succeed in causing a sell-off and they cover large amounts of their short contracts, that will be a perfect time to buy more silver.

Of course, a shortage in the physical market can override the paper transactions on the COMEX at any time. There is no way to accurately predict when that may happen. It must happen at some point, due to the deficit, and that forces you to keep the COMEX paper games into perspective. It's possible for the physical shortage to overwhelm the paper market at precisely the same time a maximum commercial naked short is in place, like now. If that occurs, it will cause a price explosion and damage to the shorts similar to the damage caused by the strongest hurricane on record hitting the most densely populated coastline at precisely the time of the highest tides recorded.

-- Posted 24 March, 2004

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This article is brought to you in part by Investment Rarities Inc.

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cp business news

Wednesday, Mar 24, 2004

Southwestern Resources shares jump after China gold drilling results

VANCOUVER (CP) - Shares of Southwestern Resources Corp. jumped almost 16 per cent Wednesday, a day after the company reported positive drill results from its Boka gold project in northern Yunnan province, China.
On the Toronto market, Southwestern shares (TSX:SWG) were up $5 to $36.85 in the early afternoon, on trading volume of more than 480,000 shares.

Late Tuesday, the Vancouver-based miner reported that five drill rigs with two contractors are operating at the Boka sites and two more rigs will be in place in a few weeks.

Southwestern Resources Corp. is exploring in several countries for precious and base metals, including the Liam gold-silver project in Peru. The company also has several joint ventures.

© The Canadian Press, 2004

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Source: Crew Gold Corporation

Crew Gold Corporation: Mindoro Nickel Project MPSA Reinstated

LONDON, March 24, 2004 (PRIMEZONE) -- Crew Gold Corporation ("Crew") ("Crew") (TSE:CRU) (OSE:CRU) (Frankfurt:KNC) (Other OTC:CRUGF): Crew Gold Corporation ("Crew") is pleased to report that its Philippine affiliate Aglubang Mining Corp has received notification that a resolution, issued by the Office of the President has been released, revoking and setting aside the cancellation of its MPSA (Mineral Production-Sharing Agreement) docketed as No. 167-2000-IV. The resolution effectively reinstates fully the MPSA and title to the property and re-emphasizes that issues regarding the implementation of the MPSA must be resolved under the terms of this agreement. The response of the Office of the President is a clear and strong signal of the change in attitude of the Government of the Philippines towards mining, from that of tolerance to active promotion and acknowledges the MPSA as a tool for investment protection.

Aglubang Mining Corp controls 100% of a large nickel-laterite deposit, located in Mindoro Island, which has been explored by Crew Minerals Philippines (a wholly-owned subsidiary of Crew Minerals AS) since 1997. In year 2000, Crew Minerals Phil., Inc. assigned the property to Aglubang Mining Corporation. The company suspended its evaluation of the economic feasibility of this project, when the MPSA, covering a large portion of the total resource, unexpectedly was cancelled in July 2001. Crew is committed to conducting business in an environmentally and socially responsible manner. The company gives special employment consideration to local workforce and maintain a policy of increasing the employment of local people in its operations. The company has recently commissioned its first new mine (gold) and is preparing for the development of a second mining operation (olivine) in Greenland, an environmentally highly sensitive area, under the highest World Bank and European environmental and social standards and in cooperation with local government-owned partners.

Jan A. Vestrum
President & CEO

This news release contains certain "Forward-Looking Statements". All statements, other than statements of historical fact, included in this release, and/or statements made by company officers or directors at any given time, as well as Crew's future plans are such forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and Crew does not undertake any obligation to update forward-looking statements should conditions or management's estimates or opinions change.

For more information please contact our UK Head Office (TEL +44 1932 268 755), or Crew's Oslo Office (TEL +47 2212 1650), or send an email to IR@crew.no. For more information about Crew, additional contact information or to subscribe to future news releases, please visit our website http://www.crewgold.com

CONTACT:
Crew Gold Corporation
UK Head Office
TEL +44 1932 268 755

Crew's Oslo Office
TEL +47 2212 1650
email: IR@crew.no

doktor Fart

Wenn es nun anscheinend selbst Thaksin Shinawatra endlich begriffen hat, das mit: "ganz Asien finanziert und subventioniert die USA", dann sollten es ja eigentlich auch die Japaner endlich kapieren.

Wenn die Asiaten aufhören ihre Dollar Erlöse in Staats Anleihen der USA anzulegen, müssten die Amis die Zinsen happig erhöhen damit sie ihre Anleihen weiterhin unter die Leute bringen können. Bei den jetzigen Tiefstzinsen wollen immer weniger kaufen.

Damit wird es für die USA immer schwerer ihr riesiges Handelbilanz Defizit zu finanzieren.

Dass die Zinsen steigen werden steht für mich bereits fest.

Das steigende Zinsen eine nicht zu bewältigende Last beim jetzigen Verschuldungsstand für die USA Bürger darstellen, und die dortige Bevölkerung sukzessive, aller Wahrscheinlichkeit nach, wegen dem in ihrer Wirtschaftsgeschichte einmalig hohen Verschuldungsgrad, extreme Finanz Probleme erleben dürften, die mit Flickschusterei und Preismanipulationen wie sie von der FED täglich via Geldpolitik, Interventionen, und Preismanipulationen an den Börsen, und beim Gold vorgeführt werden, nicht mehr aus dem Sumpf herauskommen kann, liegt für mich mehr als nur nahe.

Ganz kurz gesagt: Hohe Zinsen werden der hoch verschuldeten USA den wirtschaftlichen Kollaps bescheren.

Thailands Regierungschef Thaksin hat`s kapiert, spricht es aus, und will jetzt handeln, und weniger US Anleihen kaufen. Andere Länder, nicht nur asiatische, werden bald schon folgen.

Gruss

ThaiGuru

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Wednesday, March 24, 2004

Domestic gold market sees little fluctuation

Gold listed at jewelry companies stands around VND7,95 – 7,99 million/tael this morning. Gold sold at Bao Tin Minh Chau Jewelry Company amounts to VND8 million/tael.

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The uprising in the Middle East coupled with the slight depreciation of the green back both pushed gold price higher. Gold listed at New York market jumped to USD421/ounce this morning, up USD15 compared to last week. Thus, some jewelry companies in Vietnam became worried that gold may be imported to other countries.

Meanwhile, trading activities on the domestic jewelry market has so far remained stable. Yet, gold businesses may raise the price in a line with that on the world.

Domestic gold trading companies shared the same view that although the Ministry of Finance has just cut the import duty of gold products, business outlook for 2004 will not be much bright given the escalating price on the world gold market. (Source: Vnexpress)

Bvom-03/24/04

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Why gold is shining again

Which asset is most likely to outperform in 2004? Step forward my old friend gold. In troubled financial markets you can rely on gold. Phil Thompson reports.

--------------------------------------------------------------------------------

Over the past few weeks gold has staged a recovery to around $420 an ounce, having slipped below $400 during a preceding stock market rally. It took the terrorist atrocities of Madrid to send investors back into the yellow metal, and a renewed slide in the value of the US dollar.

Now a few stock market bears are on the prowl again, and commentators such as Dr Marc Faber see the markets making a major top between now and April. Thereafter energy price inflation – US gas prices are at a record high this week – will start to seep into general price inflation, and begin the upward ratchet of interest rates.

Stock markets decline when interest rates go up, unless the rate rise is in response to higher economic growth. And on some indicators US markets are 60% overvalued so there is plenty of room on the downside.

Falling stock markets and rising inflation, are good for gold. The fact is that you can not print more gold but you can print more money, so this makes gold inflation proof. Thus its value will rise against an inflating money supply.

A key point to watch for is when gold becomes detached from the US dollar – at the moment gold is shadowing the weakness of the greenback and its value is little changed over the year against the euro.

When gold begins to increase in value in euro terms then things should become really interesting and speculators will pile in. For the average investor it may be wise to acquire some gold shares, or gold depositary receipts in advance rather than to risk missing this investment cue.

Many experts believe gold will top $500 an ounce this year, and could go much higher. This contrasts with at best flat expectations for most major stock markets, with the exception of Japan; house prices which now worry the Bank of England; and a poor outlook for bonds post the US Presidential election.

One more reason to go for gold is that there is so little else to go for. Even holding cash is a major problem, as any US dollar saver will testify. So stash away a little yellow metal, but be prepared to liquidate this position if markets do crash as then there will be things worth buying.

Anglovaal Mining Limited - Unaudited Group Interim Results for the half-year

http://jse.hosted.inet.co.za/news/story/1576604

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http://www.chinadaily.com.cn/e…-03/24/content_317602.htm

Canadian company seeks gold in Gansu

By Xie Ye (China Daily)
Updated: 2004-03-24 10:33

Canadian Silk Road Resources, a Toronto-listed mining company, signed an agreement yesterday with local authorities from Gansu Province to jointly explore gold prospects in the northwestern region.

The deal is another strike by a row of foreign companies to tap one of China's vast regions for mineral resources.

Under the agreement, Silk Road and Gansu Qinqi Minerals Co Ltd, a wholly owned subsidiary of the Gansu Bureau of Geology Mineral Exploration and Development, will form a joint venture to search for gold in Luqu, Xiahe and Hezuo in Gannan of the province. The exploration area covers 2,000 square kilometres.

Silk Road holds 70 per cent in the joint venture, while the Chinese partner takes the remaining 30 per cent.

The Canadian company is expected to pour in at least US$5 million over three years during the initial exploration phase. It will shoulder all of the exploration risks.

Should there be commercial findings, the two companies will jointly invest in development and production, and split the costs and profits according to their shareholdings. The investment in the development period is expected to run up to US$500 million.

Silk Road President and Chief Executive Officer Aleen Palmiere said the prospect of the exploration area is attractive.

Zitat

"We know there is gold there. The only question is whether it is economically feasible to produce,"

Palmiere said.

China has become one of the major consumers of many minerals in the world such as copper, aluminium, iron ore and gold.

The increasing consumption has outpaced production, leading Chinese mineral imports to grow at a double-digit rate for a decade.

And the demands from China have driven many metal prices, such as gold, silver and platinum, to multi-year highs on global markets.

Under these circumstances, reinforcing mineral exploration has been listed as a priority of the government's agenda, said Land and Resources Vice-Minister Shou Jiahua yesterday at the sideline of the signing ceremony.

And foreign capital should play a major role in boosting the mining industry in China, Shou said.

Zitat

"Foreign investment will not only bring capital to China, but promote technology, create jobs and increase the nation's conscience for environmental protection,"

Shou said.

She said the government is amending regulations to cut red tape to encourage foreign investment in the industry.

Palmiere said more and more foreign investors have come to China to tap these resources since 2000, when China started to encourage foreign capital in the sector. It has become much easier to invest with the improvement of the investment environment.

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CARTEL CAPITULATION WATCH

The US stock market opened higher, failed, rallied again back to its highs and then flopped very late in the day. Terrible market action. An oversold DOW closed at 10,063, down 1 and the yelping DOG sank 8 to 1901.

This is not good:

Report Says Medicare to Go Broke by 2019

Mar 23, 1:03 PM (ET)

By MARK SHERMAN and LEIGH STROPE

WASHINGTON (AP) - Medicare will have to begin dipping into its trust fund this year to keep up with expenditures and will go broke by 2019 without changes in a program that is swelling because of rising health costs, trustees reported Tuesday.

Social Security's finances showed little change, and its projected insolvency date remained 2042.

The deteriorating financial picture for the health care program for older and disabled Americans is a result, in part, of the new Medicare prescription drug law that will swell costs by more than $500 billion over 10 years, according to the annual report by government trustees.

Provisions of the law that President Bush signed into law in December "raise serious doubt about the sustainability of Medicare under current financing arrangements," the trustees said.

The 2019 go-broke date for the Medicare trust fund, which is devoted primarily to paying beneficiaries' hospital bills, is seven years sooner than what the trustees projected last year.

-END-

But, there is no inflation:

Kleenex Maker to Raise Prices in U.S.

DALLAS - Kimberly-Clark Corp., the maker of Kleenex tissues and Scott paper towels, Tuesday said it plans to raise consumer prices of tissue products in the United States by an average of about 6 percent during the third quarter. br> The company said prices for bathroom tissue, paper towels and napkins will be increased effective July 11. Facial tissue prices will rise beginning Aug. 29.

The Dallas-based company said the increases are necessary to offset inflated raw-material costs, particularly for fiber, as well as higher energy costs.

-END-

GATA’s Mike Bolser:

Hi Bill:

The Fed added $5.25 Billion in repos today March 23rd 2004 and this moved the repo pool a bit up to $27.83 Billion. The Fed continues to gradually turn up the support throttle but seems in no great hurry to turn things up again.

The DOWs tiny dip has scared more than a few investors hoping for financial utopia but they shouldn't worry too much. I say this because the DOW's 30-day moving average has just about re intercepted its former linear growth trend line (around 10,500). I expect the ma to slowly turn back up as the DOW begins to respond upward. I think the Fed is a bit worried, not that the DOW could fall but that it might rise too fast again under their repo whip. Their intervention is a high octane boost to the periods of main market buying and a soft cushion to the selling episodes like we just experienced.

Red Silver

A persistent story from the rumor mills is something called red mercury. The stories emanate from Russia and tell of magical powers for this rare substance...the source of which has never been found. High explosives, trans-mutated gold, radioactive pre-curser to uranium...all these wonderful properties are hawked on the black market by certain Russian hucksters to gullible buyers. It's a clever scheme to bilk the unsuspecting investor but has it reappeared in another form today?

Silver volume reports from the LBMA are conspicuously late for the February data:

http://www.lbma.org.uk/clearing_table.htm

Unlike the Russian red mercury scam, the LBMA silver reporting situation raises a real and conspicuous RED flag because it coincides with other, credible reports to GATA of a large delivery deficit (10s of millions of ounces) for silver at the LBMA. If true, silver could deliver explosive returns unlike the mythical red mercury. Combined with a rapidly rising silver price and a painfully obvious divergence from gold, the above facts are rapidly converging to a market climax.

Why are they late?

The LBMA may be late because they are reformulating their reporting methodology (emulating the BLS and PPI fiasco) but they haven't suggested this in prior communications as the BLS did. Indeed, the LBMA normally reports on the 12th to 15th of each month. Perhaps the delay is because there has been a massive upward spike in silver volume from last month's spike to 143.3 Million ounces per day from 101.1 in December 2003. If so, there would be no possible doubt left that Professor Obstfelt's T* date had arrived for silver.

"The date T*...is the date on which the price-fixing scheme collapses; it does so after a speculative attack in which private market participants acquire all of the remaining official gold (in today's case, silver) at price p (the prevailing market price)." The Logic of Currency Crises 1994 page 192, Banque de France cashiers economiques et monitaires.

The markedly rising volume in silver after a long period of reduction is a classical example of the end of a price-fixing scheme and we may be there at this moment. A big jump in February LBMA volume (when and if it is released) will be a telling blow to silver bears and catch them off guard. I can only wonder, this morning, if the cartel has made sufficient LBMA default plans to avoid the likely market chaos...or if that is even possible.
Mike

JP Morgan Chase and their derivatives action:

Bill;

This one flew in under the radar. From gold swaps to the inevitable......................... oil swaps. Sound familiar?

Story at: http://www.warprofiteers.com/article.php?id=9848

Banking on Empire
Mitch Jeserich
February 4th, 2004

Iraqi ministries will now be able to borrow billions of dollars to buy much-needed equipment from overseas suppliers, but only by mortgaging the national oil revenues through a bank managed by JP Morgan Chase.

If I know these clowns the way I think I know them - they're gonna sell all that oil forward on NYMEX, force delivery to suppress the price while collecting the premiums from future sales and investing them. Looks like the derivatives book at JPM just got a new lease on life. Go ahead....call me a skeptic.

best

Rob

Input on silver:

Bill, g'day.

Just had a day of negotiating an OTC silver options position. Very interesting.

Firstly the spread is way out there - to be expected I suppose given the volatility. But the interesting thing is there's no more 'little guy' positions on offer. A month back one could take up a 30,000 position quite readily, and while always having a small premium over Comex, I understand quite a few used be written at this quantity or multiples thereof. No more.The buy-in now is for a 250,000 oz minimum. Now that needs a fair bit of bondoola to put on the table to get set and it's certainly out of the little league, but it also does something else. It makes it much less likely that the OTC position won't get called for delivery. 30,000 oz is one ton. Handleable with some logistical difficulty. 250,000 oz is around 9 ton. Some task. And even for a manufacturer, who needs 9 ton at one time? Obviously too many pesky little fish sniffing around the paper game looking for delivery.

Regards,

Ian

An alert from a Café member:

"We have in the USA a Foreign Sales Corp. law that allows exporters to subtract a part of their profits from taxation. A couple of years ago, a world trade court ruled this to be an illegal subsidy of U.S. business. We did nothing and the legislation is still in force. Three weeks ago, EU ministers threatened action. Now they have taken it retroactively. Included in the retaliation are Bullion Bars of gold going into London from the U.S. If the gold goes through a central bank or a member of the exchange as "monetary gold" it will not have a tariff. The current rate is 5% and it will increase by 1% every month. Switzerland is not a member, but companies that normally ship physical to London are "screwed" unless they can find a way to show their exports as "monetary gold". If this isn't straightened out quickly we expect London gold to go to a premium over New York and for NYMEX deliveries to increase for April and especially for June. Spreads between futures contracts will be strange as traders try and figure out ways to deal with the tariff."

This recent development most likely affects silver also and could cause even more dramatic tightness in the London market.

Asia Gold-High prices scare off buyers, India may emerge

By Lewa Pardomuan and Atul Prakash

SINGAPORE/BOMBAY, March 23 (Reuters) - Asia's physical gold market has slowed this week to a trickle after prices rose to two-month highs but top buyer India is likely to resume buying soon because of the wedding season, dealers said on Tuesday.

Zitat

"I think April and May will be good months for gold demand as we have many marriages, and summer harvests are also likely to be good,"

said Kamal Gupta, chairman of New Delhi-based P P Jewellers, a leading jeweller…..

…..other traders said consumers in India would become less price sensitive because of good oilseeds and grains harvests and the ongoing Hindu marriage season, during which parents give gold to their daughters for financial security.

Zitat

"You can't avoid compulsory buying in India. People have to buy gold for marriages despite high prices,"

said Harmesh Arora, vice president of the Bombay Bullion Association.

Harvesting of summer crops, sown in October and November, has begun in some parts of India. The country is expected to reap a bumper crop of grains and oilseeds this year after good monsoon rains in 2003.

About 65 percent of India's population depends on agriculture.

-END-

GATA supporter and ably run Seabridge Gold just turned in some nice exploration results:

http://web1.kitco.com/pr/1140/article_03232004135249.pdf

On the pitiful gold share action:

Bill,

This market kind of feels like the "Night of the Living Dead". Gold is up $28 from the lows, but the gold shares have not budged. Indeed, trading volumes are almost non-existent for some stocks.
It seems, the higher the gold price, the more bearish the sentiment. Very strange!

Nick Ferris
J-Pacific Gold Inc.
nferris@jpgold.com
http://www.jpgold.com

It sure is strange, Nick. The gold shares seem to be paying more attention to the euro/dollar than gold. Silver keeps making 15-year highs, gold just rallied $24.50 in 7days, and all it produces is a big yawn from would-be gold/silver share investors. It’s as if they are saying we don’t believe the gold and silver move is for real.

One of these days the for real light bulb is going to go off and most of the investment world will all want in at the same time. It will be some kind of gold share rush.

The XAU finished the day at 101.40, up .71 and the HUI gained 3.20 to 229.87. It did manage to close on its highs.

For all the reasons discussed in yesterday’s MIDAS, it seems tension in the financial markets is really picking up steam. You can almost feel the fragility. The extraordinary gold action these past 7 days may be telling us something, that something big is about to rock the markets. Gold could blow through $430 before you know it. Meanwhile, much of the world has run out of silver. The jig is up for the price managers. Don’t be surprised if silver doesn’t rocket through $8 on its way to $10 per ounce for a first stop. Much fun and money to be made in the days, weeks and months ahead.

GATA BE IN IT TO WIN IT!

Danke Bognair

Wünsche Dir einen erfolgreichen Auslandsaufenthalt.

Gruss

ThaiGuru

Nicht vergessen!

Atlas Mining war, und ist eine alt eingesessene Silber Mine in Idaho USA, die auf Grund der jahrelangen Tiefstpreise beim Silber gezwungen war die Silber Produktion, und Silber Exploration einzustellen. Ab einem Silberpreis von ca. 8.- ++ Dollar pro Unze könnte sich das aber schnell einmal ändern.

Alleine schon wegen der Dragon Mine, deren riesige Mengen an Halloysite Clay, die eine in den USA einzigartige Quallität aufzuweisen vermag, und die jetzt abgebaut werden soll, müsste der Aktienpreis von Atlas Mining eigentlich eher bei 2.- Dollar liegen, als nur wie jetzt noch, bei mikrigen 23 Cents.

Als Langzeitinvestment, mit "Silber Bonus" und auch "Gold Bonus", durch die Atlas Beteiligung an einem ausl. Gold Projekt, bietet diese Mine meiner bescheidenen Ansicht nach, ein sehr grosses Potential an weiteren Preissteigerungen, wie es zur Zeit nicht mehr allzuviele davon gibt.

Noch bei W:O, habe ich vor ca. 2 Monaten Atlas Mining *ALMI* http://finance.yahoo.com/q?d=s&s=ALMI.OB bei einem Preisstand von 13,5 Cents zum Kauf empfohlen. Jetzt steht ALMI bereits bei ca. 23 Cents, und weitere Preissteigerungen können erwartet werden.
Ich selbst habe ALMI bereits vor ca. 3 Jahren für 10 Cents gekauft.

Gut Ding will Weile haben!

ALMI wird gerade wiederentdeckt, und die Investoren scheinen sich bei dieser Silber Mine anzufangen einzukaufen, wenn auch noch nicht hauptsächlich wegen dem Silbergehalt im Boden, sondern wegen der einzigartiger Quallität ihres "Halloysite Clay" die in der Dragon Mine abgebaut werden, und der ALMI schon bald wieder den nötigen Cashflow bescheren könnte, um bei weiter steigenden Silber Preisen auch wieder ihre Silber Exploration, und Silber Produktion aufnehmen zu können.

Die Umsätze von ALMI sind in den letzten vergangenen Wochen bereits markant angestiegen!

Vielleicht kann uns Bognair zusätzlich eine neue charttechnische Bewertung zu Atlas Mining *ALMI* dazusteuern?

Gruss

ThaiGuru

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http://biz.yahoo.com/bw/040323/235138_1.html

Press Release Source: Atlas Mining Company

Atlas Mining Begins Ground Preparation at Dragon Mine

Tuesday March 23, 8:30 am ET

KDS Processing Equipment Scheduled to Ship on March 31st

OSBURN, Idaho--(BUSINESS WIRE)--March 23, 2004--Atlas Mining Company (OTCBB:ALMI - News), a natural resource and mining company, announced today it is sending company resources to begin snow removal and ground preparation at Dragon Mine. Additionally, company personnel will meet with various county government agencies to ensure regulatory, zoning, licensing, and building permit compliance.

Atlas Mining President and CEO William Jacobson said, "Ron Short, our operations manager, and I will be at the mine this week. Ron will oversee the preliminary ground preparation while I attend to all of our regulatory and permit needs. This is all a necessary formality and I foresee no problems complying with various state and county rules, regulations, and paperwork."

The company has already acquired the proper mining permit through the State of Utah Department of Natural Resources. The company will keep them updated on its progress to insure all mining operations stay within the scope of the permit.

In anticipation of the arrival of the KDS processing equipment, clear access to the mine needs to be assured. The access roads are in good shape, but preliminary reports indicate a certain amount of snow removal will take place. "We expect this early preparation to go off without a hitch," said Short, "and foresee no problems in preparing for the delivery of the processing plant."

The Dragon Mine is a rich cache of the mineral "halloysite." Historically, halloysite has been used in the manufacturing of bone china, fine china, and porcelain products. However, internal and other chemists and scientists have discovered new uses for the processed mineral. The Dragon Mine halloysite also has a unique tubular quality, not unlike a grain of rice, only considerably smaller and hollow. The halloysite microtubules can act as a time-release capsule, dissolving over time, and can be filled with such things as antifouling paint, antiscalants, herbicides, pest repellents, and other agents which could benefit from a controlled release.

About Atlas Mining Company: Atlas Mining Company is a diversified natural resource company with its primary focus on the development of the Dragon Mine in Juab County, Utah, the only known commercial source of halloysite clay outside of New Zealand. The unique purity and quality of the Dragon mine halloysite is unmatched anywhere in the world and has spawned considerable research into new and exciting applications for this product. Atlas also holds mining and timber interests in Northern Idaho, and operates an underground mining contracting business. Atlas stock trades on the OTC Bulletin Board under the symbol "ALMI." More information about Atlas Mining Company can be found at http://www.atlasmining.com.

Safe Harbor Statement: Except for the historical statements made herein, the statements made in this release are forward-looking statements. Risk factors that could cause actual results to differ materially from those projected in forward-looking statements include, but are not limited to, general business conditions, managing growth, and political and other business risks. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks and other factors detailed in the Company's reports filed with the Securities and Exchange Commission. Atlas Mining undertakes no duty to update these forward-looking statements.

--------------------------------------------------------------------------------
Contact:
First Global Media
John Roskelley, 480-219-0886

--------------------------------------------------------------------------------
Source: Atlas Mining Company

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The John Brimelow Report

Huge buyer meets huge seller

Tuesday, March 23, 2004

Indian ex-duty premiums: AM $2.86, PM $3.59, with world gold at $417.50 and $415.40. Too low for legal imports, but appreciably firmer than yesterday, despite higher world gold. The rupee strengthened again, to $1 = R44.875, the first time the currency has been over 45 since July 2000. Reuters carries a story that gold transactions in Bombay and Madras are 50% -75% down on last week, as is to be expected, although the local dealer comments are surprisingly upbeat. Silver appears to be virtually at import point, which is astonishing.

Japan received the firmer prices it met from NY with stoicism. Volume edged up 16% to a low 25,132 Comex equivalent, the active contract closed up 11 yen, world gold stood 50c above NY at the day’s end, but open interest fell the equivalent of 1,044 Comex lots. Neither the Japanese public, nor either side of the Comex struggle which raged yesterday are disposed to take action on TOCOM yet. (NY traded 101,275 lots yesterday: open interest rose a staggering 18,067 lots to 281,882.

Yesterday, heavy buying commenced in the European morning and culminated in a spirited charge on the Comex opening: by 9-30 NY time bullion had reached $418 which it could not decisively pass, despite several efforts. Obviously, there was large fund-type buying present.

The UBS version was:

Zitat

"In New York yesterday gold… traded steadily higher during the day due to…prominent buying from one player on the Comex floor who must have bought between 5000 and 10000 contracts - todays release of open interest data should see the magnitude of this buying confirmed."

While ScotiaMocatta offers:

Zitat

"Gold… started just below 416.00, but soon traded higher as funds were noted buyers. There appeared to be resting scale up sell orders in the market keeping the price rise orderly."

At first glance, the nature of this seller, prepared to stand immovably at $418 and sell perhaps 2 million ozs of Comex gold, would seem to the key question. The gold shares obviously feared an insurmountable obstacle had appeared.

But on reflection, the fact that the buying leadership is obviously coherent and directed – as opposed to a price decision by a myriad of Indian retail consumers - may be crucial. No one paying professional attention to gold could not be aware of the propensity for a massive seller to show up whenever a serious rally seems in prospect. And that must certainly have been obvious by the late NY morning yesterday. So, presuming the buyer/s know what they are about, maybe this time is different.

Perhaps some light on the selling site of the equation appears from a recent speech by Malcolm Knight of the BIS. (See

http://www.bis.org/speeches/sp040318.htm .) In it, Knight observes:

"Global growth is at present being driven by three powerful forces:

(1) very expansionary fiscal policies in some countries, notably of course the United States;
(2) accommodative monetary policies almost around the globe; and
(3) an investment boom in China that is almost literally without precedent.

Expansionary macroeconomic policies will, at some point, have to be reined in. Investment in China – and the credit expansion associated with it – needs to moderate to a pace that does not ignite an inflationary boom and bust.

How these adjustments evolve in the next few years will have a major influence on global bond markets, on asset prices in other financial markets, and on financial institutions throughout the world."
(JB emphasis)

He goes on to note darkly:

Zitat

"It goes almost without saying that a long period of very low interest rates like the one we’ve been experiencing creates new types of risks in the financial system. One aspect of such risks is high leverage. There is evidence that carry-trades are indeed rising as various players take on increased duration risk …One piece of evidence that suggests that markets are to some extent driven by favourable liquidity conditions is the unusually high correlation of price movements across a very broad range of assets..."

Zitat

"This…does not mean that the present situation is without risks…any sudden unwinding of positions by leveraged investors would itself accentuate volatility, and perhaps trigger further adjustments by the wider investor community. Higher interest rates could well undermine present asset valuations. Debt service burdens of households and corporations could rise and lead to a deterioration in loan quality across the financial system."

Zitat

"…financial stability issues occupy a prominent place on the agenda of the central bank governors when they meet every other month at the BIS, right here in Basel."

It appears that Central Bankers are sending us a message, even if, for some reason, gold cannot.

JB

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March 23 - Gold $419.50 up $2.30 - Silver $7.69 up 10 cents

Make That Seven Days In A Row/London Silver in Backwardization

Zitat

Always remember, there is more strength in you than you ever realized or even imagined. Certainly nothing can keep you down if you are determined to get on top of things and stay there...
Norman Vincent Peale

GO GATA!!!

Superb Action! All day long The Gold Cartel did all they could to keep gold from rising above unchanged. At one point they had bullion down $2, but an alert investment world is taking the bums on by buying all the gold they can. Yesterday’s open interest went up an astounding 18,067 contracts to take it up to a total of 281,882. That will give you an idea how desperate the cabal forces are to keep gold under control. They threw the kitchen sink at us yesterday. This kind of spec buying should have sent gold up as much as soybeans were on Monday. It should have risen at least $12. However, we know the drill in Orwellian World - $6+ and that is all free market buyers are allowed.

When the open interest was announced I could hear the gasps in New York all the way out here in Dallas. Knowing who stopped gold’s advance yesterday and why, one would normally think gold would have been very vulnerable to a correction today, especially after rising 6 days in a row. No sirree! The funds attacked The Gold Cartel with abandon once again and sent them backpedaling. It just could be possible the bullion dealer price managers are becoming overwhelmed by the ferocity of the gold buying. Perhaps they are going to be blown out of the water soon just as they are already in silver. What a lovely thought!

A close over $420 would have been spectacular, so the bad guys made sure that didn’t happen by selling gold off nearly $1 on the close. Still, 7 up days in a row is quite a performance. Do I hear 8 knocking on the door?

Will the gap gold left yesterday be filled?

April gold

http://futures.tradingcharts.com/chart/GD/44

Euro gold closed at 341.60, another high for this part of the move. The euro itself closed down .12 to 122.94 and the dollar rose 2 ticks to 88.22. Gold is moving on its own without any help from a weakening dollar, which I am sure has many market observers perplexed. However, as veteran Café members know, MIDAS has been jumping up and down on this one for months. It is just what should be occurring. Gold bull markets are sprouting up all over the world in various currencies. This is a wonderful development as it makes the task of The Gold Cartel to hold gold back very difficult because investment demand for gold is going to surge.

With gold moving up on its own accord, what do you think the price of gold is going to do when the dollar is trashed again?

The big news of the day was that silver went into backwardization in London. This is a BIG DEAL and a VERY RARE event. Spot London silver is trading higher than silver two years out. Once again we have confirmation of extraordinary tightness in the European silver market and of the information sent your Café way for many months. This new development signifies a significant structural change in the silver market and also confirms what Mike Bolser has been telling us about the London silver market.

Another buying group showed up today according to my STALKER source and they are loading up on silver and palladium. Their thinking is that $8 silver will look awfully cheap in the near future.

The silver open interest fell 6598 contracts to 120,372. This makes no sense based on the market action yesterday and makes the previous day’s reported large jump to be very suspect. The March fell 15 contracts to 275. There were no deliveries and I obviously I am still waiting for my delivery.

Silver opened lower in New York, quietly went down to fill its gap left yesterday and then stared at unchanged for hours. When gold took out yesterday’s highs of $418.50, silver took off and closed on its highs of the session. This means we still have our breakaway gap ahead of us.

May silver

http://futures.tradingcharts.com/chart/SV/54

Spieler0815

Du hast genau richtig verstanden!

Die Meldung lief bei mir vor nicht mal einer Woche übern Ticker.

Gruss

Thaiuru

Die Richtung stimmt immer mehr!

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