I find it easiest to think of it as a de facto return to the gold standard. Driven not only by bubbles and debt but also the Wests theft of pariah nations digital assets at the start of the Ukrainian War. Not unreasonable to hedge through gold in the basement rather than numbers on a screen in a foreign and often hostile jurisdiction.
Ann: 6m @ 8.5g/t Au and 0.8% Cu at Liontown West, page-40
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