Correct!!! as well im pretty sure AGO is an Australian company...

Correct!!!
as well im pretty sure AGO is an Australian company which gets paid in $US and converts to $AU and reports profit in $AU so to the uneducated thinking IO price went down last night in fact it went up $3 AU due to the lowering of the $AU. If AGO can pay of $20 Million debt and increase cash by $14 Million in the first quarter with an average realised price of $56 AU they can sure produce a way better quarterly result with IO currently at between $AU 90 & $AU 100 per tonne. To people wondering if they are a good investment its simple. If IO holds up yes they are way undervalued. If IO retreats to the lows of $40 - $50 US then they are not. I'm holding as I believe that even at $70 AU (well below current price AGO will have paid down all debt by FY17 and have large sums of cash available.