Ann: Half Yearly Report and Accounts-GXY.AX, page-36

With all the doom and gloom merchants out there, it's refreshing to hear a voice of reason like the comments from AC, Endyne and co. There's also some big guys we need to listen to as well.....
this little extract does not directly reference GXY, but it is super relevant given what we have seen over the last few weeks:

"Don't Fret Over Australian Stock Losers, Says State Street -- Market Talk
0147 GMT [Dow Jones] Investors shouldn't fret too much over the poor performance of Australian gold stocks, utilities and telecoms following the latest corporate-earnings reporting season, say equity analysts at State Street Global Investors. "Often we see increased volatility during reporting season as companies rebase expectations and share prices react to reflect the innovations in the fundamentals," they say. "Despite this volatility, a beat, or miss, or sharp price reaction in August does not necessarily signify a change in the long-term fundamentals for a company." Shares of Telstra (TLS.AU), Australia's biggest telecom, have fallen 13% since the start of August and was last down 0.9% Thursday. Gold producer Newcrest Mining (NCM.AU) has shed 16% over the same period and was last trading 1.3% lower Thursday. ([email protected]; Twitter: @verasydney)
Editor: CNG"

I have highlighted the relevant section for you to ponder......