Ann: Derewo River Update, page-18

Today's bad news overwhelms a lot of positive macro stuff that's been happening in recent weeks. The US dollar gold price has rallied to $1,100 per ounce and hopefully a long term rally is now underway driven by global economic uncertainty, the South African Rand fell a whopping 10 per cent against the USD on the weekend to continue a decline that started a year ago, and the Indonesian Rupiah continued its fall against the USD, although not as steeply as the Rand. All of this should help WWI sell or toll their South African assets later this year and ensure mining costs at Derewo are kept low and competitive. But this positive news gets mostly forgotten on days like this.