you can bet the temporary export tax will be increased and the duration extended
higher taxes
the list is large of increased risks operating with Argentina now
Meantime - the ignoring of a 150M plus "non cash write down" which no doubt will be dressed down as a "one off" as many increase exposire buying more margins will result in growing losses.
Realisation that China Auto sales rebound in June didn't come through in July and an overall trade slowdown is going to bite at some stage
GXY results will be a mega loss on paper, and the one thing they need to protect..."cash" doesn't seem to have been protected at all. Any sales they are currently doing is just trying to fill the "liquid assets" draws on the other side
- financially GXY is losing capital, losing cash and its not driving forward.
Good luck
GXY Price at posting:
$1.22 Sentiment: Sell Disclosure: Not Held