break open comex

To shareholders of Lihir Gold - gold producing member of the Minerals Council of Australia;

The Minerals Council of Australia are currently considering application to the CFTC hearing on precious metals position limits to be lodged by April 30th and have approached their member gold producer members for response. If the MCA are to lobby the CFTC about excessive position limits on COMEX, your Gold Producer needs to encourage them accordingly.

I have inserted my letter to Newcrest of which I am a shareholder so you may copy, amend the details and email it to your company. As Monday is a public holiday in Australia, tomorrow would be a great day to do this. Follow up with a phone call so your letter doesnt sit idle in someones in-tray. The list of MCA member gold producers is as follows. With the aim of finding at least one shareholder for each relevant producer, the letter is also posted on Hot Copper under each relevant company code as well as under the GOLD code;

AGD Austral Gold Ltd
AGS Alliance Resources
AGG Anglogold Ashanti Australia Ltd
BDG Bendigo Mining Ltd
BHP BHP Billiton Ltd
CGT Castlemaine Goldfields Ltd
DTM Dart Mining NL
GBM GBM Resources Ltd
LGL Lihir Gold Ltd
NCM Newcrest Mining Ltd
OZL Oz Minerals
RNG Range River Gold
RIO Rio Tinto
SBM St Barbara Ltd
SRE Stirling Resources Ltd



(INSERT YOUR ADRESS)

22nd April, 2010

Mr Ian Smith, Managing Director
Newcrest Mining Limited
Level 9, 600 St. Kilda Road
MELBOURNE VIC 3004

Dear Mr Smith,

The US Commodities and Futures Trading Commission public hearing last month in Washington received alarming testimony of market irregularities on the COMEX precious metals exchange. Evidence was submitted of one or two large banks dominating trading on the exchange to the extent of disabling the price discovery mechanism that enables gold producers to receive a fair price for their product. Furthermore it was revealed that a whistleblower who worked as a precious metals trader in London, has submitted detailed evidence to the CFTC regarding fraudulent activity on the COMEX silver exchange.

The CFTC is deciding whether position limits for very large gold and silver traders should be enacted and enforced. To date there have been no such position limits for traders in the precious metals markets in the USA, thus allowing excessive concentrations by very few traders, even though strict position limits are in place for certain agricultural commodities and proposals are confirmed to limit positions in energy markets.

The Minerals Council of Australia of which our company is a member is currently considering a response to the CFTC pending feedback from members. As a shareholder, I request Newcrest ask the MCA to submit to the CFTC that proper position limits for gold and silver markets be enacted and enforced. To be considered for the hearing, the Minerals Council of Australia needs to respond to the CFTC by April 30th. Accordingly our company needs to contact the MCA Deputy Chief Executive, Brendan Pearson as soon as possible with motivation.

His email; [email protected]
Ph: 02 6233 0600

Your urgent consideration is greatly appreciated.

Sincerely,
XXXX XXXX