@newB, you are right. YoY the PHP is down 4% against the USD....

@newB, you are right.

YoY the PHP is down 4% against the USD. The AUD is down 21%.

That said, the profits of MML are still reported in AUD.

So whilst the operating costs of mining in the Philippines hasn't fallen as much as it has in Australia the profits are still reported in AUD which will look good.

Whilst I'd like to see the gold price stablise in AUD, PHP and USD terms (and bounce back a bit), but at $0.67 if the Q4 production reports meets or exceeds expectations then $0.67 will be a great buying opportunity (if you have conviction that gold is store of value).