WAF's shareprice seems to be mirroring the GOLD EFT sell - off that is occurring due to various reasons given forward including:
1: Mr Trumps win
2: Perception that this will somehow negate the massive US debt thorugh spending on construction commodities
3: US EOFY selling (yep it is in December not mid-year) and realisation of tax losses this FY (as these would be less once Trump's tax cuts come in)
4: Sell-off in EFT requires balancing with real gold sales so it's a double whamy, someone sells paper the funds controlling the paper need to sell physical gold into the market, in turn driving price down further leading to more selling the next day etc you get the picture
It has been a hard but measured sell-off in gold. Good news this evening is that copper, zinc and iron ore are getting hit so gold may be on the way up or at least stabilize.
I have no idea when this will stop but would suggest once trading finishes for 2016.
Until then try and pick-up a bargain WAF share. The grades coming out of this project are exceptional to say the least.
WAF Price at posting:
22.0¢ Sentiment: Buy Disclosure: Held
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