It's not clear yet what will happen to gold mid or long term but the short term pushdown in price is (maybe) bad for WWI.
While we don't have the exact deal terms, naively that a drop in the gold price has to be matched by improved grades for WWI to get its bonus payment.
If you do your calculations in USD: If the grade is 2g/t, then we really need US$1300 to get the full bonus. At $1200 you want more like 2.5g/t.
Complicating the issue is the fact that in ZAR gold is higher than before the gold blip and fall caused by Trump.This is an obvious question and I can guess the answer, but: is the contracting cost in ZAR or USD? You'd expect ZAR but because we don't really have details of the deal we can't say for sure.
Amused, page-19
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