That is a chunky lift for the AUD from where it is now Niclou considering 2 months ago it was sitting just over 57c. 74c within 6 months.. Maybe. I agree that investors are not paying enough attention to sovereign risk. Look at Papua New Guinea and Barrick/Zijins Pogerra mine. Incidents like this will become more common with time as governments look for easy cash. One thing is for sure is that governments will start fiscal spending (read infrastructure projects) in an effort to create employment and stimulate their economies. This will lift demand for commodities and put upward pressure on the AUD. Speaking of upward pressure, nice lift in GRLs share price this morning.
GRL Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
