OTCPK:LYDIF - Post by User
Post by
geodocon Dec 11, 2014 12:09pm
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Post# 23219588
Armenia quite resilient
Armenia quite resilient Regarding the armenian situation, interestingly the armenian Dram traded from 415 down to 455/ 460 to the dollar, roughly 10% down in 2014, whereas the ruble traded from 32 in january to 55 now, a 75% decline.
One could have expected a larger impact on the armenian currency, which to me is a good sign.
Besides, because of the trouble Russia currently faces, satellite countries like Georgia, Armenia and Kazahkstan need to boost their falling foreign reserves. The projected tax income from the mine is badly needed and I expect therfore the whole legal process to accelerate.
As for the share price now, tax loss selling on the GDXJ ETF automatically affects LYD. 2015 should bring much higher prices.