Historically, Australian gold stocks have traded at a discount to their North American peers. It’s been an odd phenomenon considering Australia is a safe, mining-friendly jurisdiction with a currency like Canada’s. I have written extensively over the last 12 months about the Commonwealth takeover. I’ve explained before how the Australian miners, buoyed by a weak Australian dollar and mining-friendly regulations, have been cash flow machines for the last 12 months. Now these Australian miners are sitting on big cash positions and high share prices. And when you’ve got a lot of cash and a high share price, it’s time to ... (full story)