ULTRA LITHIUM INC. — TSX.V-ULT
Ultra Lithium Inc. ULT
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Blog - Latest News
European Central Bank

European Central Bank Believes in Gold

August 7, 2019/in In the News/by Gray Leigh

European Central Bank Abandons 20-Year-Old Gold Sales Pact

It appears the European Central Bank believes in the long-term value of gold. Indeed, skeptics have long wondered if the element could maintain its financial weight ever since the United States abandoned the gold standard.

READ: Why Gold is Used as Money

Nevertheless, gold has survived various threats – including the rise of cryptocurrency. As a result, Europe’s highest-ranking financial institution has abandoned a 20-year-old pact to coordinate gold sales.

Consequently, the central bank has no plans to sells large quantities of gold. This speaks volumes to the metal as an asset.

Gold Maintains Global Importance

European Central BankAfter all, tying an entire continent’s economic future to a material is speaks to the confidence experts have in its long-term value.

Evidently, this wasn’t the case in the 1990s. The EU sporadically sold gold throughout the decade, undermining its value and stability as a precious metal.

“The signatories confirm that gold remains an important element of global monetary reserves, as it continues to provide asset diversification benefits, and none of them currently has plans to sell significant amounts of gold.”

Ultra Lithium Diversifies into Argentina Gold

European Central Bank

Consequently, signatories are only allowed to sell a certain amount of gold each year. This follows a surge in gold’s value in the past two decades.

As if to prove how stable it is, the market for gold didn’t move following the announcement.

As a result, Ultra Lithium’s decision to diversify into Argentina gold is encouraging. The acquisition gives us a second resource that’s central to the world’s long-term economic health.

While lithium is the fuel of a sustainable future, gold will ensure economic stability.

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Ultra Lithium Inc. A team of clean energy experts with a finger on the pulse of clean energy news, ULI is a lithium exploration company with lithium holdings in Argentina, Canada and the US and gold holdings in Argentina. (TSX-V: ULI, OTCQB: ULTXF and Frankfurt: QFB).

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LATEST NEWS

  • Ultra Lithium Invites Shareholders and Investment Community to Visit Booth #2353 at PDAC 2023 Toronto, March 5-8, 2023March 2, 2023 - 6:00 am
  • Ultra Lithium Assays Up To 417 PPM Lithium in Drill Hole at the Laguna Verde Brine Lithium Project in ArgentinaFebruary 28, 2023 - 4:30 am
  • Ultra Lithium Intersects 2.68 Percent Lithium Oxide at The Forgan Lake Lithium Property in Northern Ontario, CanadaFebruary 8, 2023 - 5:00 am
  • Ultra Lithium Responds to Government of Canada Critical Minerals AnnouncementNovember 4, 2022 - 4:30 am
  • Ultra Lithium Inc. Provides Update On Yahua InvestmentOctober 13, 2022 - 4:30 am

ABOUT

Overview
Management
Directors
Corporate Responsibility
Corporate Information
Disclaimer

 

LITHIUM

Overview of Projects
Laguna Verde Brine Lithium Property
– Laguna Verde Brine Photos
– Laguna Verde Brine Maps
Georgia Lake Lithium Pagmatites
– Georgia Lake Lithium Photos
Forgan Lake Lithium Pagmatites
South Big Smoky Valley Project

Lithium Uses

GOLD

Gold Projects
Assay Results
Gold Project Photos

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CONTACT INFORMATION
Ultra Resources Inc.
1120 – 789 West Pender St.
Vancouver BC V6C 1H2
Canada

Kiki Smith, CPA, CGA
Chief Financial Officer
E: [email address protected by javascript]
T: +1-778-968-1176

Afzaal Pirzada, M.Sc.(Geo), P.Geo.
Vice President, Exploration
E: [email address protected by javascript]
T: +1-778-558-4940

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