RE: Share down9 Mar 2024 14:02
Aim999, the reason why gold has rallied has nothing to do with the retail market, it’s because of central banks buying as much of it as they can. And where are they getting this gold from ? Well I’ll tell you !
Just like Speedie has said a hundred times, the banks have got a massive short position on gold, which is all a smokescreen to what they are actually trying to achieve.
They are doing everything they can to promote the selling of gold from retail investors, just so they can swoop in and gather up the low hanging fruit on offer.
What better way is there for the banks to actively convince folks to sell their gold than promote the likes of Bitcoin, with the introduction of the new etf’s, and the S&P 500 with new ATH’s, that at some point will ultimately collapse.
To me it’s just the banking system reverting back to what was used as real money for two thousand years GOLD.
They’ve tried this experiment with the petro dollar for the last 50 years, and they are now wising up to it ain’t working.
The US and European governments are frantically doing everything they can to stop this happening, but when you have the BRICS nation’s along with plenty of other’s striving to go down a different path, the banks are buying as much as they can, so as to not be caught out. Basically they are hedging their bets.
Whichever way the scales tip in favour of, Gold will become much more valuable than it is now, and produces of gold will see a massive upside in profits.
Even at $2200 oz, with an annual production of 300,000 oz’s with an AISC of $900 after inflation, GGP if they do go on to owning 100% of Havieron and Telfer, would be making a Pre tax profit of around $390,000,000.
You can see with those sorts of returns it wouldn’t take too many years to pay off any funding debts.
The naysayers want to convince us we can’t afford to buy the farm, but you have to look at it the way you do when purchasing your first house, the figures seem daunting, but we all manage and benefit in the long run.
We are where we are, and yes, plenty are underwater or are very nervous as to what the future holds, but like I’ve said all along, it’s about having the patience to see this through to the rewards.
Hopefully Callum’s interview has alleviated some of your concerns, and with him confirming he’s still a major shareholder, should give everyone confidence that we backed the correct horse. We were faced with 26 fences at the start of this race, one we clear Beechers Brook (LCA) for the third time, we’ll be on the home stretch.
If Foinavon at 100/1 can win the Grand National, I’m sure GGP with a very experienced jockey in the seat, can also win, as the two massive favourites both fell at the Canal Turn.
GGee-uP
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