Arrest Made in Historic Yreka Gold Theft

posted in: news | 0 APR 2,2013

Less than a week after being identified as one of the suspects in major gold heist, David Johnson, 49 of El Cerrito, turned himself into Siskiyou County authorities on Monday. Siskiyou County Sheriff’s deputies recently identified a pair of suspects in the January 2012 theft of more than a million dollars in historic gold nuggets from the county courthouse.

Agents from the sheriff’s office searched parts of the Bay Area Thursday after getting million dollar search warrants for Johnson, and Scott Bailey, 51 of El Sobrante. The pair are the prime suspects in the January 31, 2012 theft of $1,257,500 worth of historic gold nuggets from the Siskiyou County Courthouse in Yreka. Investigators say they believe Johnson and Bailey used the stolen gold to purchase high value items. Johnson is being held in the Siskiyou County jail on $1,000,000 bail… >>MORE( Terms of Use & Privacy Policy

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Officials ID 2 Bay Area men as gold heist suspects

posted in: news | 0

Saturday, March 30, 2013

YREKA, Calif. (AP) — Two San Francisco Bay area men have been named as suspects in connection with the theft of more than $1 million in gold from a county courthouse’s historical collection, Siskiyou County officials said.

David Dean Johnson, 49, of El Cerrito and Scott Wayne Bailey, 51, of El Sobrante, are wanted on $1 million arrest warrants issued earlier this week, The Redding Record-Searchlight reported Friday.

The two allegedly broke into the gold collection at the Siskiyou County Courthouse in Yreka in February 2012 and made off with $1,257,500 in gold, jewelry and artifacts.

“These thieves stole a part of Siskiyou County history, which represents the hard work, sacrifice, traditions, and pioneer spirit which characterizes the personality of Siskiyou County and its citizens – past and present,” Siskiyou County Sheriff Jon Lopey said in a statement.

After allegedly making off with the gold, jewelry and artifacts, Johnson and Bailey used the money from the sale of the goods to purchase “high-value” items, Lopey said.

The entire gold collection before the theft was valued at about $3 million. Lopey said it would be “highly speculative” to guess how much of the gold, if any, would eventually be recovered, Lopey said… >>MORE (

59 bodies recovered from Tibet gold mine: report

posted in: mining | 0

Reuters  – APR 2, 2013

Beijing: Rescue teams have found 59 dead bodies at the site of a massive landslide in Tibet and two dozen more workers are still feared buried in the rubble, Chinese state media said on Tuesday.

Tonnes of rock, mud and debris engulfed a miners’ camp on Friday in Maizhokunggar County where China Gold International Resources Corp Ltd operates its Jiama mine.

Emergency workers and other miners spent the weekend digging through the landslide which was up to 50 metres deep in parts… >>MORE(


A Good Delivery Bar isn’t Chocolate

posted in: Uncategorised | 0

The Good Delivery specification is a set of rules issued by the London Bullion Market Association (LBMA) describing the physical characteristics of gold and silver bars used in settlement in the wholesale London bullion market. It also puts forth requirements for listing on the LBMA Good Delivery List of approved refineries.

Good Delivery bars are notable for their large size and high purity. They are the type normally used in the major international markets (Hong Kong, London, New York, Sydney, Tokyo, and Zurich) and in the gold reserves of governments, central banks, and the IMF.

Sztabka złota ważąca 12,5kg Własność Narodowego Banku Polskiego.Szaaman
Gold bullion weighing 12½ kg. Property Polish National Bank Photo:Szaaman

The Good Delivery Rules for Gold and Silver Bars

The entire Good Delivery specification is contained in the LBMA document titled The Good Delivery Rules for Gold and Silver Bars: Specifications for Good Delivery Bars and Application Procedures for Listing. The document includes specific requirements regarding the fineness, weight, dimensions, appearance, marks, and production of gold and silver bars. It specifies procedures for weighing, packing, and delivery. It also describes policies for ensuring refiners’ compliance with the specifications.

The current edition of the Good Delivery Rules was published in October 2012.

Basic specifications

Gold bars

  • Fineness: minimum of 995.0 parts per thousand fine gold
  • Marks: serial number, refiner’s hallmark, fineness, year of manufacture
  • Gold content: 350–430 troy ounces (11–13 kg)
  • Recommended dimensions 

Length (top): 210–290 mm
Width (top): 55–85 mm
Height: 25–45 mm

Silver bars


  • Fineness: minimum of 999.0 parts per thousand silver
  • Marks: serial number, refiner’s hallmark, fineness, yr of manufacture, weight
  • Silver content: 750–1,100 troy ounces (23–34 kg); 900–1050 oz
  • Recommended dimensions

Length (top): 250–350 mm
Width (top): 110–150 mm
Height: 60–100 mm

 Non-Good Delivery

Bars that do not comply with Good Delivery rules are termed Non-Good Delivery. If they are similar to Good Delivery bars but do not fully meet the requirements, they must be stamped with “NGD” to distinguish them from conforming bars.

LBMA Good Delivery List

The LBMA maintains two Good Delivery Lists of approved refineries (one for gold and one for silver) that meet certain minimum criteria (age, net worth, and production volume) and have demonstrated their ability to produce Good Delivery bars. Listed companies agree to submit to monitoring by the LBMA. Those listed companies that refuse to participate in regular monitoring are removed from the Good Delivery List and added to the Former List.

The LBMA claims copyright over the Good Delivery List.

Text is available under the Creative Commons Attribution-ShareAlike License

Goldminers Find Lustre Fading on ‘big is best’

posted in: mining | 0

Liezel Hill March 23, 2013

Acquisitions were once the name of the game, but now the miners are looking to spin off their assets to unlock better value, writes Liezel Hill.

The world’s 10 biggest gold companies led by Barrick Gold spent more than $US100 billion in the past 20 years buying new mines and projects around the globe. Now they’re feeling pressure to throw the strategy into reverse.

Gold Fields spun off most of its South African assets in February. Billionaire hedge-fund investor John Paulson is calling for a break-up of AngloGold Ashanti. Barrick, which has 27 mines, is selling assets after an acquisition and cost overruns helped erase $US26 billion of the Canadian company’s market value.

An index of 14 large goldminers has lost 26 per cent in the past year, worse than the 7.1 per cent drop in a similar gauge of global oil companies. The gold industry, which underperformed the metal for five of the past seven years, has tried to stop the slide by ending gold-price hedges, raising dividends, building new mines and, most recently, pledging spending discipline. Spinning off or selling assets may be its next option.

”The next fad is going to be the unbundling of the majors,” >>MORE (


(TX) State considers bringing gold home

posted in: news | 0

Texas has $1B in physical gold Friday, 22 Mar 2013

Governor Perry is showing support for a bill to bring home rare and precious metals the state already owns.

Republican Rep. Giovanni Capriglione of Southlake introduced House Bill 35-05. It would create the Texas Bullion Depository, which would house the physical gold bars the state owns.

The Texas Tribune reports the state has a billion dollars in physical gold, which is owned by the University of Texas Investment Management Company.
The gold is currently stored in the Federal Reserve Bank of New York.

“If we can securely store this gold in Texas and do it at a lower cost to the state than where it is currently stored then we should take a look at that,” the Governor said in a statement from his press office to KXAN on Friday. “Number one priority is that it is securely stored.” —MORE>>(