Hello, Mr Bear, long time no hear (almost rhymes!)
Yes, I still have my Harmony shares. Unfortunately, not as many as I would have liked. I'm sure you are now aware that Harmony is now one of the big hitters in the league and if the gold price rises, it will be VERY big.
As you know, it just made a billion rand off Anglogold, which wasn't too bad for a morning's work! Or perhaps I should say, AU's bad luck.
Unless civil war happens in Zimbabwe, which is always on the cards, I think the rand will steady. May even strengthen slightly but I don't think "they" want it to get too strong. There will be big windfall profits for exporters as result of the big devaluation and that means big taxes, which pleases government no end, especially with a lousy economy in other sectors. Anyway, as you see on the chart, the longer-term trend on the rand is still down.
exchanges.barchart.com
So, that's my one cent's worth.
All's well this side and I hope it is the same with you and yours'
Searle |
