Macquarie: We continue to see value in a number of Australian based gold producers

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Macquarie: We continue to see value in a number of Australian based gold producers. Macquarie Wealth Management says the continued weakness in the Australian dollar has provided strong insulation from the falling $US gold price for companies with assets in Australia. We note that gold in $A terms is up $65/oz this year while the $US price is down $US20 an ounce. We continue to see value in a number of the Australia-based producers. Our preferred Australian producers are RRL, SAR, EVN and we also see good value in Australian development play GOR... Of the overseas producers we continue to prefer OGC, BDR and TRY... We continue to be focused on the companies with solid cornerstone assets and management teams that can execute. We believe that quality assets will be the focus of M&A and companies valuations in the current metal prices state. (VIEW LINK)

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