any ideas?, page-7

John Toll

The USD gold price is the most relevant for MML as most of its costs are in $US as opposed to Australian based miners who suffer as the $A rises. On translation to $A some of the MML profit is shaved but not nearly as much as for an $A based producer which suffers from higher costs...........generally also gold stocks tend to follow the price of the underlying $US gold price regardless of the currency. I have raised this issue before and agree with you on one level but the anecdotal evidence is compellingly against your view.....so I just accept it as what the market wants to do....