Agree with the above & would state that some have even low single digit PEs at current price of Aussie gold & fuel. We haven't seen a quarter yet that has captured either the higher Aussie gold or low cost fuel environment. Most Aussie production I think is getting quite well priced imo, there may still be upside, however they have moved a long way in a lot of cases. RSG which has both Aussie & African production I would suggest is the cheapest gold producer per production ounce. So if you are looking for an exposure to gold this could be a good one. BDR has a proxy ccy exposure as production is based in Brazil & acts similar to the AUD. In regards copper I'm a bit mixed on the outlook. There is production cuts due to price so that's a positive, however there has been some large protects coming on stream as well. China has been such a large part of the demand equation for copper in the last 10 years, there is a real risk that demand falters imo.
There is one promising copper/ gold play & also developing gold producer, but I am still accumulating, so once I'm done I'm happy to communicate. ;-)
