Yes, this is correct. The AUD gets weaker with lower local rates. Consequently, XAUAUD rises (gold against the aussie dollar with our AUD being the quote, not the bid).
You may be confusing XAUAUD with AUDUSD in my statement, where AUD is the bid, in which case yes, AUDUSD drops if rates are cut.
ROX will be selling product for AUD, not USD, hence the relevance. A weaker AUD is great for product export because it costs foreign entities less in other currencies to buy product from Australia. Businesses (i.e. bullion exchanges/smelters) get more aussie dollars for their exported product while we fletchlings live in our shell not seeing how our local AUD dollar has depreciated against other currencies. I.e. A$4500 (AUD) worth of gold would exchange for far less USD with a depreciated AUD.
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