EVN is pushed around by virtue of the holdings in the US listed...

EVN is pushed around by virtue of the holdings in the US listed ETFs GDX and GDXJ. These are high volume traders on the US exchanges and the significant holdings, of which EVN is one, tend to be traded simply on the direction of the ETF and not on the merits of the actual individual stock. With the AUD price of gold now over $2,081 an ounce and both the GDX and GDXJ having a good day in the US, we can expect EVN to react positively today. While a low Aussie dollar is good for the local gold miners it does mean that the AISC still rises in AUD even though it would be down in USD. Fuel and machinery are the main culprits as they tend to follow world prices but any miner who is over hedged or with debts denominated in USD can get into strife.