Ann: Kiaka Development Fully Funded via US$265m Loan Facility, page-34

Inverted yield curve indicates recession. Gold does great during recessions.
Gold equities are the most suppressed they have been since the 70's when measured against POG and are more than due to be re-rated.
M2 money supply has been declining because it needed to. Had to mop up after Covid helicopter money and loose monetary policy. They go to far which is inevitable, more banks will fail...this is excellent for gold as we saw earlier this year. The true intent of the Fed is to break many more regional banks, because then consolidation will occur. Most people think the Fed is an Independent Govt body...it's actually not. It's actually got people from the biggest banks in the US working for it. It's in the Feds Interest to break regional banks now, consolidate the Industry as they head towards CBDC implementation. That is another great reason to be in gold and being in gold equities that have loads of room to run. Smart people don't want CBDCs, this will do very well for gold. The only thing stopping this is a black swan event. But everything is in the same boat in that event.

The reason why they will go too far with interest rates, this recession risk this gold price appreciation/equity appreciation in this country is because we need to keep up with the US on a forex basis. Our Forex is dictated by interest rates amongst other things. The biggest industry of ours that gets affected is real estate which is different to the US.

The US has a far different policy on housing i.e. 30yr fixed terms and only needing to redo the mortgage if you sell so they're sitting on 2-3% even as the cash rate is over 5%. Even their variable contracts have differences. ARMs (adjustable rate mortgages Vs VRMs (variable rate mortgages - VRMs aren't affected by rate rises). Majority aren't affected by rising rates whereby we're getting crushed for anyone that isn't fixed..

the biggest indicator in Australia for an interest rate reversal is unemployment and the RBA will not stop until that trends significantly upwards. The problem with this approach is that our unemployment percentages have been distorted for a very long time and don't capture the true health of the employment market. They are artificially suppressed. Add in Covid policy, lack of immigration for the past 3years, bankruptcy cycle not yet fully materialised and there's a recipe for true unemployment to keep rising quickly but because the game is suppression we will have a hard landing before we know it. From a housing perspective our real estate is massively distorted on a debt to income ratio..In the 80s a 150k loan at 17% is not even close to 1,000,000 loan at 6-6.5%. on top of this people are still recklessly spending thanks to Covid pent up demand. All of this indicates a hard landing, which is great for gold and great for defensive equities such as low cost producing, high margin gold companies.

In the next 6 months the economy is going to be looking vastly different. Producing gold equities are going to do well.

In our case WAF is producing with great margins, locked down finance for the next mine with an in country bank and a global commodities outfit and will be producing over 400k in under two years. Its completely under the radar of most which is why I'm a patient contrarian holder.