$2 dollar club, page-367

There has not been a lot of movement in the Aussie Dollar versus the US dollar ,it still remains very weak ,trading in a range of 64-66 US cents.The GOR investment in DEG is looking worse by the day as DEG is trading well below the offer price (this is quite unusual).There is simply a massive overhang of DEG shares.That combined with gold weakness which occurs in the North American summer months means both DEG and Gor share price will remain weak.Inflation is a problem in the Australian economy meaning interest rates will remain high making financing the DEG mine more expensive.That combined with the fact that permits for the mine have not yet been granted means that timelines are rapidly slipping.
In the next 18months or so I expect quite a lot of bad news comes out with respect to GOR and its DEG investment .This will reduce GOR share price and. As I have said before Goldfields will strike to get full control of Gruyère.Personally i think this is not a matter of “if” but when .We shall see.