i wouldnt be unduly concerned
while debt in US dollars is unfortunate, the likelihood is AUD gold price increases from here - in addition to the real-based opex falling.
so you have 2 beneficial impacts offsetting one negative from any increased strengthening in US dollar.
its innately currency hedged
what i think tends to cloud BDR market price action sometimes though is the iron ore price - as fears of that falling contribute to a view the effective cash cost will increase (ie iron ore offset credits fall).
but i think thats heavily overdone given stock is so heavily undervalued - generally seen as a 70-90c/share valuation in 3 analysts research reports ive seen recently. UBS has it as 71c/share value at currenct gold price assumptions for eg
its reall issue is that its good profile but not enough output to give leverage.
want to be doing 300k oz+ pa or have a near term growth kicker to really drive early buying
thats more whats driving NST - nothing to do with dividends etc imo
good buying though if you think USD gold is going back to $1250.
get another 2month above 1200 and the 50/200 MACD is going to take gold back above 1300.
but a lot rides on next few weeks
AUD gold producers best play to that - esp if rates get cut by rba
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