cost cutting - small holdings buyback, page-26

Hi greenboy, maybe you should change your nic to greenbackboy, only kiddin.

All currencies are fatally flawed, because they can be created at will, and now the yanks and poms have gone down the path of quantitive easing, at least we in OZ havnt (as yet), and hopefully wont.

IMO the worst thing OZ min can do now is to hold that much cash, especially in US dollars, it should have either been used to buyback 1bill shares when SP was under a dollar, or used to buy cheap assets when that window was open, the Chinese are closing that window fast.

I suggested partnering anvil, that window was closed by a more agile commodity company, (anvil shareprice has since more than doubled) nursery I think suggested lynas, that window isnt closed as yet, but its close.

Why are the chinese trying to rid themselves of US dollars....because they are clever, our board or management clearly are still not with it, they were behind the ball when the GFC hit, and were too slow to react, they were too aggresive with thier assumptions, and we shareholders paid for it, now after being burnt real bad, they are being too conservative, and we are paying for it again. Did I read that it was going to take something like 100 days for the first board meeting or something like that to consider what to do, thats way to long.


Here is an extract of a post of mine from 6 years ago, three years before GFC.

Gold, silver, oil and commodities will not go up!!!!

The worlds fiat currencies will all fall against them, one ounce of gold will still be one ounce of gold, one barrel of oil will still be one barrel of oil etc.

I think we are starting to see a seachange with regards to the world love affair with fiat paper, most of the world is wanting a softer currency as it spurs economic growth(which I beleive was the major reason Australia has had such a good run over the last five years with our low dollar), a downward spiral of currency depreciations,

people are starting to realize how much debt is being created just to maintain the standard of living the western world is used too.

My prediction is that by the end of this decade, instead of saying that gold is worth US$380 per ounce, we will be saying it will take US$50-$100 to buy an gram of gold and Oil will also be priced in gold not US$$$. Gold will regain its role as the measuring stick of worth and value - the US$ is toast

cheers

These are still very much my thoughts, and was one of the reasons why I was so against the Minmetals deal, apart from the nationistic level, we agreed to sell them our productive assets for a pile of paper, we need to use that paper fast and efficiently, if we cant do that, give it back to shareholders please.

cheers grant

the above is opinion only and written without prejudice