Ann: FY24 Half Year Financial Results and 2023 MROR Presentation, page-28

If the Fed cut interest rates any time soon I would be very surprised. Every geopolitical issue in the world right now (and there is no shortage) is creating a stagflation environment. The only places we are hearing rhetoric about interest rate cuts is from government aligned mainstream media circles and so called 'experts'. How often have we seen experts and the paid media get things so wrong the past few years. I think we need to expect a hot inflation environment and more confirmation of recessions moving forward. Yesterday, we saw both Japan and the UK officially enter a recession. Historically, we have seen gold prices surge in global recession and depression events. Once the USA is officially in a recession this horrible economic situation will be hard to ignore and hide with rose coloured glasses. A massive gold boom is coming IMO.