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If you throw all the products we buy and the services we use in one basket, then add up the price tag, that's the Gross Domestic Product, which is the primary metric economists use to assess the economic health of a country or region.
The easy part of calculating GDP is the calculation itself: C+I+G+(X-M)=GDP. Got it? No? Well, add Consumption, Investment by companies, Government purchases, and then take the product of eXports (calling it 'E' would lack sexiness) minus iMports ('I' was taken). Viola! GDP.
Still don't get it? Well, knowing the components helps. Consumption is the biggest component, and it's a tally of the cost of all the goods and services we buy. Investment is what companies spend on the real assets they own, plus the value of the inventory that we haven't gobbled up through consumption. Government purchases are what the Feds pay money for (whether it be highways or fighter jets, though big social programs, like welfare, aren't counted). And then we calculate the difference between the goods and services we¿re sending to other countries and the stuff we're bringing in.
Good. That explains it, except there's a catch. Inflation has a habit of distorting the numbers, so economists talk about either Nominal GDP or Real GDP. In fact, Real GDP isn't necessarily "real" for most folks, since it takes any inflation out. Nominal GDP includes the effects of inflation. (There's something called the implicit price deflator which is a calculation using the two, but we'll spare you the details.)
So, now that we know GDP, why do we want to? Well, it's good to compare different markets. And watching the trend shows whether a given economy is growing (good), stagnating (not so good), or shrinking (very not so good). When GDP goes down two quarters in a row, we're officially in a recession.
For the record, GDP is released at the end of each month, with most reporting ¿preliminary¿ data for the previous month. But you won't get final GDP numbers for the fourth quarter of a year until the very end of the first quarter of the next year. After all, it's not an easy number to calculate.
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Monday, June 16, 2008
Vena Commences Underground Development at Pucara Copper/Gold Project
Comtex
TORONTO, ONTARIO, Jun 16, 2008 (MARKET WIRE via COMTEX) ----Vena Resources Inc. ("Vena" or the "Company") (TSX: VEM)(LIMA: VEM)(FRANKFURT: V1R) is pleased to announce that it has received all the required permits to commence an underground development program to further investigate its 100% owned copper-gold-silver-lead project at Pucara in the Puno District of Peru. A 4,800 metre drill program was completed on this property earlier this year showing continuity along the northern veins for more than 550 metres and preliminary metallurgical tests have indicated encouraging results.
The initial activity will be an underground drifting program consisting of 1,800 metres on several of the northern veins. The Company has also hired Henkle and Associates to complete a NI 43-101 compliant report. Resource Development Inc., from Denver, Colorado will perform multiple bulk sample evaluations as part of a scoping study.
Concurrent to these programs, a design concept for a nearby open pit scenario on the Gladys Stockwork will be undertaken. As previously reported, the Gladys area is a stockwork at surface that has been bulk sampled at 3.64 g/t gold, 19.34 g/t silver and 4.23% copper with exposed dimension of 240 metres in length by 25 metres wide.
The Pucara project is adjacent to electrical grid lines, abundant water supply and is 1.5 km from a major highway.
The drifting program will be carried out under the supervision of Rod Ogilvie P.Geo., Vena's Vice President of Engineering and Qualified Person as defined by NI 43-101. Face sampling and mapping of every drift round will be carried out to the highest standards. CIMM Peru in Lima an ISO certified laboratory will be utilized for this project.
About Vena Resources
Vena Resources Inc. is a Canadian mining company focused on the exploration and development of Peru's mineral potential. Employing a model of diversification across metals and regions in Peru to mitigate investment risk, the Company consists of four divisions: Mining, Energy, Precious Metals and Base Metals. Vena's zinc project, Azulcocha, with an initial NI 43-101 resource estimate of almost 200 million pounds is scheduled to commence production in fall 2008. Together with the Company's strategic partners, Cameco and Glencore, Vena will advance its significant portfolio of almost 100,000 hectares this year. Through its board of directors, Vena Resources possesses a unique quality of skills and experience in management, mining and finance relating to Peru and Canada.
For further information on Vena Resources, please visit the Company website at www.venaresources.com.
Statements in this press release regarding the Company's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
Shares Outstanding: 71,648,073
Fully-Diluted: 92,710,644
The TSX does not accept the responsibility for the adequacy or accuracy of this release.
Contacts: Vena Resources Inc. Juan Vegarra Chairman & CEO (416) 364-7739, ext. 120 (416) 364-5400 (FAX) Email: jvegarra@venaresources.com Website: www.venaresources.com Equicom Group Michael Joyner (416) 815-0700, ext. 275 Email: mjoyner@equicomgroup.com
SOURCE: Vena Resources Inc.
mailto:jvegarra@venaresources.com http://www.venaresources.com mailto:mjoyner@equicomgroup.com
Copyright 2008 Market Wire, All rights reserved.
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