Ann: 2024 Resources and Reserves Statement, page-87

Gold Equities have not risen in tune with the spot gold price all over the Western World. I have been in RMS since 2005....initially bought at 80 odd cents and even some at 1.15....I backed the truck up when they were under 6 cents in 2014/2015. My average was down in the low teens ie 12/13 cents. I took profits on the way up to $2.50...getting $2.32 at best. Kept a medium sized parcel and watched them down to 60 odd cents. Now they are up near all time highs and have been grinding higher from the lows. Patience is the virtue. Why tell the story..well because I have been a gold bug since the early 80's and I do believe the gold price is manipulated due to central banks debasing currencies and increasing money supply they have attempted to keep a lid on it...but ultimately as always the central banks will fail. The monetary system is cattle trucked. I did see somewhere that in the 80's 10 kg of Gold would buy a house and still today 10kg will buy a house (USA). The management at RMS has been Ok but the bugbear of many Goldies is the hedgeing and RMS have been guilty of over hedgeing at times. Croesus is a goldie that comes to mind...I think the braniacs at MacQuarie stitched them up.