Ann: Becoming a substantial holder from MQG, page-15

You know that the AUD is not the world currency.
The interest rates are lagging behind the US which is giving us upside on a lower exchange rates. Gold is falling in usd which is an inidication of the gold price direction not the exchange rate advantage which is short term.

When gold likely falls back to $1600usd in the next three months and $1250 usd by the sept quarter and maybe $1100usd by xmas we will be in a different position. You cant use AUD prices to make a positive statement about the gold price direction under the circustances that exist today.

Starting at a base of .70 usd for general trade.
foreign exchange loss
.66 usd 6% .
.60 usd 14% loss
'.58 usd 17% loss
.55 usd 21% loss

What do you think will happen to interest rates when the RBA pause and we fall back down to .60usd The market will panic. RBA will scrable to raise rates, it will hit the fan as we reach 15% inflation.

When rates reach 8% which is a very high possiblity then investors will be chasing yield.

RMS will need to be paying $100 million in dividends to justify a market cap of $800 million.
The milllion dollar question, Will RMS be making $200 million profit at a gold price around $1900 aud ounce