Overvalued, maybe, in US$.What we need to keep in mind is the...

Overvalued, maybe, in US$.

What we need to keep in mind is the gold price in AU$. As long as that holds up, and production increase as forecast, we're going to see some nice profit figures in the coming year. Add to that increases in reserves & the current share price will be looking very cheap in 12 months time.

We may however, as you say, be in for short term pain. I'd rather be in than out though (while the AU$ gold price holds).