AQG 4.81% $10.09 alacer gold corp.

Ann: Presentation - Q3 2018 Operating & Financial Results, page-6

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  1. 787 Posts.
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    There were various pundits around the world in mid August talking about linking the lira to gold, with a corresponding discussion on HC under the AQG threads (look back and you will find it).
    In mid September, the Turkish Central Bank raised interest rates to 24% pa against the wishes of President Erdogan and so demonstrated its independence. More recently the Baptist pastor held under house arrest on accusations of promoting anti-Erdogan activity, as per the Turkish cleric based in the USA, has been freed, thereby pacifying the US which sparked the August run on the Turkish lira with its punitive tariffs.
    Hence, at present things have settled down and so no recent doom and gloom proclamations internationally on the Turkish national finances. Longer term, who knows? I do not believe that the US actions were the underlying cause for the lira's problems and so these can still come to the fore to trouble the economy. Erdogan in the meantime has taken increased responsibility and control over the Turkish sovereign wealth fund and so can use it for political purposes.
    Of course the world has been distracted lately with the Kashoggi murder and Turkey is now presenting itself as the defender of human justice versus Saudi Arabia which also brings Turkey USA support. As though there are no politics behind all this too, even while the West is ready to support Turkey in the matter.
    Qatar suported Turkey with billion dollar plus financing not so long ago and we know how the Saudis have tried to suppress Qatar this year. Turkey has also been positioning itself to be a dominating influence in the Middle East against Saudi Arabia, for a while.
    I think the current price for AQG reflects the remaining unease in regards to Turkey's financial situation.
 
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