alleyronin
I still don't understand if AUD tanks to 70.0cents, but majority of funds received are held in US$
How does that blow out the debt?
Note all financial accounts/reports are US$ denominated.
Therefore the US$12.8b debt remains at $12.8b US.
They would use the US$ that they hold from sales which are based on US$ to repay debt, which means that debt should remain as is US$12.8b
the lower dollar if anything would help them, unless again I misunderstand, in that based on US$100.0mt (with AUD at 0.70cents) they in effect receive $142.0AUD and therefore as production costs are based on AUD this should increase profit
fortescue takes first step in debt reduction, page-16
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