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Brazil, China, Turkey & Greece - In situ: +15 million oz Gold

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Message: Eldorado

Fisher99,

Turkey courts are substantially different than U.S.. No transparency. Someone filed a complaint or suit against GLD with the gov.. No one is sure, including GLD, but it is surmised to be brought by an enviormental group claiming enviornmental damage. The thinking is the Turkey gov. wanting to be viewed worldwide as being eco conscious, shut down operations until complaint could be investigated and ruled upon. After realizing this could take many months, GLD applied for an early decision in early Oct. It was supposed to come by year end. It hasn't and from where I sit, that isn't good. However GLD maintains that this operation meets all reqirements in "spades" and is examplary in eco regards.  Lastly and IMHO, GLD is handling this improperly and I told them so, not that, that makes any difference. All this time that operations have been shut down, they are paying full payroll. Not one person has been layed off. It is costing GLD a fortune, so I liquidated my position. The way to force a decision on this is to lay everyone off and cause some economic hardship to put pressure on the bureaucrates. As it is, they know GLD is an "easy mark".

Such is my take. I believe there will time to get in quickly if the decision, if it ever comes, is favorable.--Hope that helps. 

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