Ann: Maiden Dividend and 2014 Financial Year Results, page-24

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