This is another fashionable move from Russia out of US Dollar. Tim Geithner the Secretary must be a "good negotiator": after his jokes about safety of US Dollar - it is falling apart. When Board of US Corp. decided that China and Russia are the best friends to hold keys to its if not financial prosperity any more, but even to mere survival?

"Russia to sell U.S. treasuries, buy IMF bonds

Wed Jun 10, 2009 8:30am EDT

MOSCOW (Reuters) - Russia will reduce the share of U.S. treasuries in its forex reserves, the world's third-largest, a senior central bank official said on Wednesday, driving the dollar broadly lower.
Russia holds about 30 percent of the reserves, worth $404.2 billion, in treasuries. Central bank First Deputy Chairman Alexei Ulyukayev said it would buy bonds issued by the International Monetary Fund and also up the share of reserves held in bank deposits.
Russia had earlier pledged to buy about $10 billion worth of bonds to be issued by the IMF as part of a fundraising effort to help countries hit by the global financial crisis.
Ulyukayev said Russia had increased its investment in liquid treasuries during the peak months of the crisis and was now ready to cut it, also increasing investment in commercial banks' deposits.
"Now this share (of treasuries) will fall because the window of opportunity is opening, the situation with banks is becoming clearer. We will increase the share of bank deposits, the share of repos will be bigger as well," Ulyukayev said.
The dollar slipped against a range of currencies, while U.S. Treasury yields rose after news of the Russian statement.
The dollar index fell as low as around 79.483 after the news from 79.662 shortly before the comments.
U.S. Treasuries fell further after the comments, pushing up the benchmark 10-year T-note yield more than five basis points to a session high of 3.92 percent.
"This is potentially quite negative for the dollar," said Geoff Kendrick, senior currency strategist at UBS in London. "The main jump was in sterling ... If anyone just now would benefit it would probably be investments into sterling as a reserve currency."
(Reporting by Yelena Fabrichnaya, writing by Gleb Bryanski; editing by Patrick Graham)"

One of our risky picks in Africa after recent downturn Sunridge Gold SGC.v announced positive PEA on its Emba Derho deposit. It is again Junior Investment Cycle with chance for a second entry. The most interesting part is CA agreements signed with 7 counterparties, can we smell M&A here? Project depends on Nevsan Resources NSU.to development, but buyers are coming in after latest PR push from the company. Another play in the area is Lukas Lundin's Sanu Resources SNU.v.

On Thursday June 4, 2009, 11:12 am EDT

VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jun 4, 2009 -- Sunridge Gold Corp. (CDNX:SGC.V - News) ("Sunridge" or "the Company") is pleased to announce the positive results of an independent Preliminary Economic Assessment ("PEA") Study on the Company's Emba Derho copper-zinc-gold volcanogenic massive sulphide (VMS) deposit located on the 100% owned Asmara Project in central Eritrea. Emba Derho is one of four deposits defined within the Asmara Project to date.
Highlights of the study completed by Wardrop, a Tetra Tech Company ("Wardrop") include:
- The currently estimated mineral resources provide for open-pit mining at a rate of 4 million tonnes of ore per year for 10.4 years with a possibility of mine life extension through either an expanded open pit or underground production;
- A conventional flotation process plant would produce separate copper and zinc concentrates containing annually approximately 55,000t zinc, 25,000t copper, 20,000oz gold and 0.6moz silver;
- The base case internal rate of return (IRR) is 21.6% with 4 years payback on an estimated initial capital cost of $331.8 million with sustaining capital of $67.3 million;
- The pre-tax net present value (NPV) is estimated to be $203.9 million at 10% discount rate;
- Total operating costs are estimated by Wardrop to be $21.19 per tonne milled;
- The PEA is based entirely on resources in the Indicated category using data from 256 diamond drill holes. Wardrop has estimated an Indicated mineral resource in the Supergene and Primary zones of 58.97 million tonnes containing 990 million pounds of copper, 1,900 million pounds of zinc, 485 thousand ounces of gold and 19.5 million ounces of silver (as announced by Sunridge on September 17, 2008);
- Wardrop recommends the continuation of studies and moving the Emba Derho project into the Pre-Feasibility stage. This includes further drilling in the open-ended northwest zone of the Emba Derho mineralized system and continued exploration elsewhere on the Medrizien exploration license which may lead to the discovery of satellite deposits.
In addition, Wardrop cite a number of opportunities for improvement and cost saving for the Emba Derho project. These include the following:
- The possible mining of the northwest zone of the Emba Derho deposit. This zone consisting of 17.3 million tonnes at an average grade of 0.96% Cu; 1.26% Zn; 0.18 g/t Au and 8.84 g/t Ag is not included in the Wardrop base case scenario. The addition of this zone could increase the mining rate from 4 to 6 million tonnes per year. The resources in the northwest zone are included in the Sept. 17, 2008 indicated resource estimate but are not included in the in-pit resource used by Wardrop for the PEA.
- The mining plan for the Emba Derho PEA study does not consider the upper oxide gold zone as an economic resource. This zone containing 94,000 ounces of gold (3.51 million tonnes at an average grade of 0.84 g/t gold) could be considered for future mining perhaps in conjunction with the nearby Gupo gold deposit. The resources for the oxide zone are included in the October 31, 2008 indicated resource estimate, but are not included in the in-pit resources used by Wardrop for the PEA.
- Mining Emba Derho in conjunction with other known mineral deposits on Sunridge's licenses;
- Possible use of the existing railway line to transport concentrate to the port city of Massawa;
- Sharing costs of the port facility at Massawa with Nevsun's Bisha project;
- Use of part of the open-pit for waste deposition;
- Improving the capital costs schedule;
- Further study of power options.
Michael Hopley, President and CEO of Sunridge Gold, states, "Completing the Emba Derho PEA is a significant achievement for the Company; the study demonstrates that the deposit has the potential to become a large base metals producer and a project that could be moved to production in a relatively short period of time given its proximity to excellent infrastructure."
Emba Derho is located 12 kilometres away from the capital city of Asmara and is accessed by paved roads. Local infrastructure is excellent with power, water and ample space for open pit mining and related operations. In addition the deep water port at Massawa on the Red Sea is 120 kilometers away by paved road and railway. The Asmara Project contains three additional deposits with numerous high priority exploration targets. The government is strongly supportive of the mining industry in the country and local community relations are good.
Mineral Resource Estimate
The resource estimate was completed by Wardrop using data from 256 diamond drill holes out of a total of 264 holes drilled to date. This independent resource estimate for the Emba Derho deposit is dated September 17, 2008 and only includes the Supergene and Primary Zones and is the basis for the Emba Derho PEA study. It is summarized as follows:

Financial Analysis
A base case preliminary economic evaluation of the Emba Derho Project was prepared by Wardrop based on a pre-tax financial model. The in-pit resource is estimated at 41.6 million tonnes at an average grade of 0.68% Cu; 1.55% Zn; 0.33 g/t Au and 10.90 g/t Ag. For the projected 10.4 year mine life the following pre-tax financial parameters were calculated based on the London Metal Exchange (LME) five year historical average metal prices as follows (all prices US$):
- 21.6% IRR
- 4.0 yrs payback on $331.8 m capital cost plus $67.3 m sustaining capital
- $203.9 M NPV at 10% discount value
- Cu - $2.50/lb
- Zn - $1.00/lb
- Au - $650.00/oz
- Ag - $11.00/oz
Sensitivity of the project economics to alternate metal price scenarios:

The PEA is a preliminary economic study and there is no certainty that the projected results of the PEA will be realized in actual operations.
CORPORATE UPDATE:
As of May 2009, Sunridge has signed 7 Confidentiality Agreements with companies interested in the Emba Derho deposit and/or the whole Asmara Project. Some of these parties have conducted site visits with a view to a possible transaction with the Company on the property. Although the discussions with certain of these parties are fairly advanced, they have not resulted in a firm offer and there can be no assurance that any agreements or transactions will result from these confidentiality agreements or site visits.
About Sunridge
Sunridge Gold Corp. is a mineral exploration and development company focused on the acquisition, exploration, discovery and development of precious and base metal projects. The company is currently developing base and precious metals deposits on the Asmara Project in Eritrea including the completion of a positive Preliminary Economic Assessment Study on the large Emba Derho Deposit. The Company has 62.4 million shares outstanding, approximately $5.5 million (Canadian) in cash and the Company trades on the TSX Venture Exchange under the symbol SGC. For additional information on the company and its projects please view the slide show on our website at http://us.lrd.yahoo.com/_ylt=Atk7AxKFneN30LnRZSM4SZmliRkC/SIG=111j5di32/**http%3A//www.sunridgegold.com/ or call Don Halliday or Greg Davis at the numbers listed below.
NOTES:
1. Except where noted all dollars referred to in this news release are US dollars.
2. The Emba Derho resources, on which the PEA study was based, were originally released on September 17, 2008 by the Company.
3. The Emba Derho deposit is layered into distinct metal zones as is the case in most of these types of VMS deposits and therefore mineral resources for the upper oxide gold zone, the primary zinc-rich zone and copper-rich zone are reported separately. The copper-rich primary sulphide zone is defined as those blocks that have a grade of 0.5% copper or greater; the zinc-rich primary sulphide zone is defined as those blocks that have an average grade of 1.0% zinc or greater. There is also an "overlap" copper/zinc zone where blocks meet both criteria. In this new resource estimate it was determined to include the overlap zone in the copper-rich sulphide zone.
4. A Quality Assurance/Quality Control program is part of the drilling program on the Emba Derho deposits. This program includes chain of custody protocols as well as systematic submittals of standards, duplicates and blank samples into the flow of samples produced by the drilling. The database archive used by Wardrop in the estimate of the resources at Emba Derho was reviewed and verified by Paul Gribble, of Wardrop, a Qualified Person as defined by NI 43-101.
5. A description of the geology, sampling procedures, and the Company's laboratory Quality Assurance / Quality Control procedures has been described in previous NI 43-101 Technical Reports and will be updated and contained within the new Technical Report summarizing the PEA that will be filed within 45 days of the date of this release. This report will then be also available at http://us.lrd.yahoo.com/_ylt=Av8SxLrALlYFzLikHlQ_URKliRkC/SIG=10q41mvbm/**http%3A//www.sedar.com/.
6. Samples from the drilling were prepared at African Horn Testing Services (Eritrea) and analyzed at Genalysis Laboratories (a NATA registered laboratory) in Perth, Western Australia.
7. The results of the Wardrop resource estimate have been reviewed by Sunridge technical staff including Michael J. Hopley the Qualified Person for Sunridge. The Company believes that the Wardrop resource estimate for Emba Derho was conducted in a professional and competent manner. Mr. Hopley is also the person responsible for preparation of the technical information contained in this news release and is President and Chief Executive Officer of Sunridge.
8. Mineral resources that are not Mineral Reserves do not have economic viability.
SUNRIDGE GOLD CORP.
Michael Hopley, President and Chief Executive Officer"

Now we have some hints why Chinese Tongling is buying into Canada Zinc Metals CZX.v at market premium of 52% to its current market price of 0.28CAD. For us it is Junior Investment Cycle all over again. We have a chance to buy the second time into this story with help of Mr Market. Company today announced closing of its financing with Chinese Giant Tongling after receiving of all necessary approvals on both sides. Chinese are getting 13% in the company and CEO is talking about them as Strategic Investor. Chinese are talking about district play - confirming our ideas. Everything is very significant in this Deal to our decoupling theory and Chinese recovery: price they are ready to pay for the Non controlling stake in the company, Lukas Lundin still involved in the company with his stake, time of closing when Zinc is taking off from "End of The World" level.

This stake does not look to us particularly large to be truly "strategic" and now with all financing approvals in place will be interesting to monitor further developments: will Chinese buy into the market with prices still below their 0.425CAD?

What are the value drivers here:

1. If you are in a world wide Depression and Deflation camp skip these pages.

2. Why is it the second chance: just look at the company price chart below.

3. What is the district play: please refer to the company website and map above. Canada Zinc Metals's Akie holds 23.6 million tons of high grade Zinc, nearby J/V between TEC and Korea Zinc holds another 50 million tons. District play can mean 100 million tons with further discoveries and deals among these three players and now CZX.v has a strong backing strategic partner with deep pockets. Significance of 100 million potential reminds us about Ozernoe play in Russia with Lundin Mining, where they have been ask to get out as from strategic reserves. There are couple of similar size deposits out there, but some of them are in places like Iran, Pakistan and Afganistan. With 100 million tons district in friendly Canada can be within top ten Zinc deposits around the world.

4. If you are in Inflation and decoupling camp you will recognise Macro trend below of Commodity cycle when sometimes Zinc price advance can make Gold Bugs like us jealous.

5. Our Green Mobility revolution and New Deal for US Corp., needs a lot of Zinc and Copper to build infrastructure for the Next Industrial revolution. New power grids in the Next Big Thing means a lot of Zinc and Copper used. You can find a lot of supporting our Investment Case information on this blog under search Zinc for your further homework. Chart below shows that slowly fear is making room for greed in commodity plays and China was very active in this field from February.


"Canada Zinc Metals Announces Closing of $4.9 Million Private Placement Subscribed to by Tongling Nonferrous Metals Group Holdings Co. Ltd."

Not everything Lukas Lundin has touched turned into gold, but a lot of things did. We are very pleased to see him building a new Exploration play for Lundin Group. Power house all across commodities and continents will make it an exploration company to come to for exposure to investment niche of Junior Explorations and for Majors for deposits. Mr Wodzicki is a CEO of Sanu Resources, can we take it from this NR that Sanu Resources will merge with Canada Gold Hunters as well? Lukas has appointed impressive board, company have properties all across Americas, necessary Expertise and Cash for development. Now is time to buy in Exploration Junior sector: valuations are still reflecting fly from risk and Naked shorting at its prime, will Lukas Lundin become an M&A play and consolidate the sector and get the best properties at this level of desperation from staving Juniors? We like the idea to be invested in Cisco Systems of Exploration early in the cycle and positioning for their Targets of M&A play.

Few connected companies which could benefit from this fast development:

Sanu Resources SNU.v another Lukas exploration play in Africa. Will this one follow its CEO and be acquired as well?

TNR Gold TNR.v J/V partner of former Suramina Resources on a number of properties and active in Argentina. Los Azules is known to Lukas Lundin from Minera Andes side where he has invested last year. Recently this Junior received a nice Lithium boost.

Canada Zinc Metals CZX.v - Lundin Mining still has 10% of the company before Chinese placement closing.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 21, 2009) - Canadian Gold Hunter Corp. (TSX:CGH - News; "Canadian Gold Hunter") reports that effective as of April 17, 2009, Dr. Wojtek Wodzicki has joined the Board of Directors and has been appointed President and CEO of the new Canadian Gold Hunter following the business combination with Suramina Resources Inc. ("Suramina"). Dr. Wodzicki replaces Mr. Richard Bailes who has resigned as President and CEO and from the Board to pursue other endeavours.
Concurrently, Mr. Michael McInnis and Mr. Ron Netolitzsky have resigned from the Board. Three new members joining the Board, effective as of April 17, 2009, are former Suramina board members: Dr. Patricio Jones, Mr. Paul Conibear and Mr. Lee Graber.
The new Board of Directors of Canadian Gold Hunter comprises the following people:
Lukas Lundin, Chairman
Wojtek Wodzicki, President and CEO
Paul Conibear
John Craig
Lee Graber
Patricio Jones
William Rand
In addition, Mr. Jan Christoffersen has resigned as Vice President of the Company effective April 17, 2009.
Lukas Lundin, Chairman of Canadian Gold Hunter, commented, "We would like to thank Mr. Bailes for his outstanding contribution to Canadian Gold Hunter over the years. Rick has been with Canadian Gold Hunter (and its predecessors) since 1990 and under his leadership the Company has acquired and advanced a number of gold exploration projects both in Mexico and Canada. We wish him all the best in the future."
Dr. Wojtek Wodzicki has worked in the international mining industry since 1987, managing exploration programs on five continents. Prior to joining Canadian Gold Hunter he had an impressive career with Teck Cominco Ltd. that included managing exploration offices in Bolivia, Peru, Chile, and Argentina. In 2001 Dr. Wodzicki was appointed Teck Cominco's General Manager of Exploration for North America and Europe-Africa. He holds a doctorate in Geosciences from the University of Arizona. Dr. Wodzicki also currently serves as President of Sanu Resources Ltd.
Dr. Wodzicki commented, "The new Canadian Gold Hunter has a truly outstanding portfolio of projects offering diversity, flexibility and enormous exploration potential. In fact it is an exploration portfolio that would be the envy of many of the majors. My vision for Canadian Gold Hunter is to build the Company into an international, multi-commodity exploration vehicle - the premier exploration vehicle for the Lundin Group. I wish to establish a clear model for the market that this is the vehicle for top quality exploration projects for the Lundin Group with no limits on geography or commodity. Projects accumulated may be sold, joint-ventured, developed ourselves - whatever makes the best commercial sense. We have a lot of flexibility. I very much look forward to leading this exciting new venture."
Please see attached map showing Canadian Gold Hunter's portfolio of projects: http://us.lrd.yahoo.com/_ylt=Aoqltns7r2VbXeTnVzEuwomyf88A/SIG=11ncnj6r4/**http%3A//media3.marketwire.com/docs/cgh_map_0421.pdf.
On behalf of the Board
Wojtek Wodzicki, President and CEO