Andrew forrest, page-61

yes but with all due respect there is more to it than that rather simplistic pricing of the AUD and here ties in the shocking fall in SP's of the Australian gold sector in recent months relative the the POG in AUD terms
Basically "the world "and what I mean by that is the masters of the universe "world" Ie Wall st..have woken up that Australia has politically headed down the path of European socialism and wokeness - evident big time by the state based lockdowns and State based anti business type behaviour - all which puts up the cost pressure on gold extraction. Basically they have woken up that Australia Inc is no longer a good place to do business. Lower productivity in Aus vs our major competitor the (USA) put's further downward pressure on the AUD - throw in the flight to safety to the USD and now China is in severe recession and where is the support for the AUD?
There is none.
So it will fall further.
The management of this company along with many so called "expert" economists have called this completely wrong. They were expecting the AUD to strengthen (due to the old school economics theory of rising commodity prices = a strengthening AUD). This has been proven to be 100% completely wrong,.
All they had to do was open their eyes and look around at the Australian society.. to attitudes etc.. They have taken their eye of the main game and economy and more importantly the significance of the political shift in the country towards wokeism and socialism over business and profits.
Bad bad call and it's now costing gold producer shareholders like me big time.
They should have just rode with the falling AUD and been done with it.. just stuck to their knitting producing gold and stopped predicting how the AUD would "rise" when they didn;t have a darn clue what they were doing..
No instead they had to go on a spendathon paying too much for assets priced at yesterday costs ..right?
And now shareholders like me are left to pick up the pieces.. >holding assets that now have to be marked down in price?
Well give me a break. Where is the BOD accountability here?
A floor will eventuate ..sure as evident by people like Forrest sniffing around for value ...but when?
That's the question I would like answered.. and what is management doing about it?
Just MO/NA