Perspective part 1 of 27 Jan 2023 00:36
I have, as much, if not more than anyone else on this sight, discouraged the pointless war chat and ridiculous conspiracies (we certainly do have a few nutcases and the filter list continues to grow).
I do however feel that now is an inflection point at which some comment on the overall situation is merited.
Obviously, the geopolitical situation (a phrase that encompasses a panacea of variables), is intrinsically linked to the company’s prospects and caused the 90% share price drop. My argument on this board has been that arguing about the fortunes of war, when so unpredictable is futile and it’s better to concentrate on the realities of the company as faced in the current environment, rather than endless hypotheticals.
I’d say it’s hard to argue that the company have not been impressive in their adaptability and resilience during this period, finding new buyers for the Russian gold and navigating sanctions, particularly in relation to debt. Furthermore, we have seen further tailwinds recently with the price of gold and depreciation of the Ruble (which Nesis himself said was the first thing he checks when he wakes up in the morning). However, all these things relate to fundamentals, and I think that we can all agree that it was not fundamentals that caused the 90% price drop, so there must be something more at play here. I know that today was only a 10% rise, but it was not random and it was not fundamentals, and in my opinion there is more to come.
It may not be on Monday or even this month but I feel with great conviction that the direction of travel is set (and I’m sorry Russskyline, but it has nothing to do with candles).
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