Gold stocks

According to The Australian's RB, Chinese companies are seeking to buy big in gold stocks.  Why not?  Nobody wants our gold stocks, you might as well buy them cheaply.  The arithmetic just does not work out.  POG still over USD$1600 per oz and the cost of mining has remained way below that.  That profit is ignored by the market.  While it is true that capital is difficult to raise to explore or develop mines, the selling-off of gold stocks applies to producers as well!