Well, talk to a few people in the know - who are you going to trust - your gut feel, or people who were doing the hard yards negotiating with hard arse banks at that time. This negotiation was stretched out over the Christmas period when RED had boldly gone ahead with commissioning the new KOTH plant - such was their (correct) unbridled assessment of the KOTH ore body that their geology team and RED's management had uncovered. The banks were not prepared to give RED's management team any leeway and this gave no room for manoeuvre. So many commentators who simply weren't there are now all of a sudden, retrospective experts .... "presentism" writ large.
Today, the ASX was Trumped - how crazy brave or reckless can this guy get ??? What is going to stand in his way now that he's America's Peron ??? Lots of stocks got thumped by Orangeman .... including the A$ .... but the A$POG remains resilient .... for now. With AISC around A$2200-2400, even if the A$POG retreats 20%, VAU and other producers will remain profitable.
Trump's policies are like a scene from Blazing Saddles where the sheriff is holding a gun to his own head and says "do as I say or the sheriff gets it " Trumps policies will be highly inflationary (this should support gold) and threaten a world trade war the like of which, precipitated The Great Depression, leading to much misery and the inexorable slide into WW2. The world will eventually call Trump's bluff .... but will this be another version of a "first strike" causing global destruction ??? The idea that Australia should side with Trump standover tactics against our number 1 trading partner is insane !!! If the Chinese economy "catches cold" , Australia's economy will get pneumonia ..... and that will do more damage to Asian tourism than the deplorable methanol spiked drinks.
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