oversold?

In my opinion the answer to this is a resounding "yes" but obviously as I'm posting this value the thoughts of others.

Recent contracts with Newmont and increased rig utilisation suggests a lift in profits in 1H2011. Earnings are being channelled into debt reduction which should leave the company in good financial shape.

Now I understand there is "some" uncertainty out there regarding the resources tax and it's effect on exploration. But will it ever see the light of day in it's proposed form? Will the Rudd government even survive this year's election?? Given current sentiment, it's looking increasingly like a "no" on both counts.

As mentioned at top of the post would really value other opinions.