GPR 4.55% 2.1¢ geopacific resources ltd

Ann: Chairman's Address - 2021 AGM, page-23

  1. 2,344 Posts.
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    Note the importance of gold as a store of value and protection against currency devaluation .... countries that borrow in US$ while earning in local currency are killed by inflation ... what goes around (will) come around again .... OMG look at Argentina .... the gold price has gone up 10 fold since 2016 .... only a fool holds or accepts Argentian pesos .... whereas the value of gold in Venezuelan currency has increased by billions of times.
    Even in stable (not) socialist Sweden, the POG has increase 3 fold since 2007.
    The idea that the world is going to abandon gold as a store of value is fanciful. The biggest threat t the gold mining industry is its exeraordanary carbon footprint, which makes it easy game for the PC crowd who want to push "net carbon by 2050" while not embracing nuclear power and maintaining the travel industry dependent on cruise ships and airplanes and whale watching in the Antarctic ..... they have no shame.
    COVID will eventually burn out and either disappear like SARS 1 or become and endemic phenomena like the flu, controlled by vaccine updates etc. .... India will eventually recover and resume gold buying , and as sure as hell, the Argentinians, Congolese, Indonesians and Arab world peoples will resume gold buying and hence the POG. If gold mining becomes constrained by carbon emissions, then peak gold will be bought forward, and like Bitcoin (supposedly) no more will be mined and the price will be maintained by relative shortage ????????

    Meanwhile new coal start ups will be still borne, and this may apply to gold as well. But fully funded long mine life gold stories will flourish in the short to medium term. GPR, RED and G1A are strong holds .... unless your intent of throwing the baby out with the bath water.

    https://hotcopper.com.au/data/attachments/3282/3282602-dfd6295c9f19b23d2ce8a99e7e3145ab.jpg

    https://hotcopper.com.au/data/attachments/3282/3282595-5ae2dd798b5559a539bedd8d532e6c95.jpg
 
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