A tax related exchange rate issue in Brasil. Big deal.
The really big deal is a POG which is running away towards levels where it it will reflect the supply-demand situation. The manipulation scheme is exhausted as Cental Bank selling is met by Central Bank buying. What is left is a tremendous supply deficit, which for the next five years will increase in any case, in spite of the POG catching up.
There are already 36 mln shorts. They want in and you go short?
Shorts will be stacking up like firewood on this one. Any company that can not figure out how to prepare their financial statements in a better manner than kgc has demonstrated, should not be allowed to be in business.
Been successfully trading kgc for well over one year now, but have recently gone short. Sloppy company coupled with the fact that gold is way short term overbought should tell you the story.
You better worry about you short position, Joker (that was intentionally).
This company, like 99% of the gold mining companies, is going to show extremely positive operational figures at the present gold price. On top of that, the reserves in the ground will be revalued upwards and new reserves can be added, since mining of deeper resources becomes viable at the higher POG. In short, a triple jammy.