GOLD.AX provides exposure to gold in AUD available on the...

GOLD.AX provides exposure to gold in AUD available on the ASX

Considered paper gold - one needs to make up ones own mind as to whether you believe it is a safe choice for Gold. Personally I don't have a problem with it.

Worthwhile reading the comments by posters on insurance etc as well for a balanced viewpoint:

http://goldchat.blogspot.com/2008/12/warning-on-existing-au-and-new-ag-pt-pd.html

Some helpful Oz Gold Stock sites:

Gold Nerds
The Global Speculator
Goldoz

RMS? I haven't looked at it for some time (at least a year) - but used to like it due to the high grades. Not sure about it's cost of production - which I should have mentioned is paramount ie low cost producers. I think it fills all the criteria.

Hedging - little or none - Yes.

Don't take anyone's word on any stock - but always DYOR.