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Bought HGMCY and PAAS as a hedge. Mostly short term trades here, but I like gold's prospects here, in light of economic, political and international trends of the last several months, so am holding longer term in these.
Gold shot up to around $323 this afternoon. I guess some bonds look good to people,but gold is looking better than stocks,apparently. One thing that bothers me about Harmony.After all the dishonest accounting we've seen here,I wonder about a fast grower like Harmony????????
A brief joint-statement issued this afternoon said another 4.8 million of Simane's Harmony shares had been made available to a scrip lending pool and where to be returned to Simane by November.
This effectively means Khumalo was lending Simane's Harmony stock - which he was precluded from selling or encumbering - to traders who had short sold Harmony shares (sold shares they did not own). He will now have to call in his loans and return the stock within two weeks, according to the agreement brokered by the government. "Subsequent to the discussion held between the representatives, it was agreed that within a period of 14 days the total amount of 10.8 million shares should be returned to control of Simane," said the statement.