LYC 0.64% $7.72 lynas rare earths limited

please explain, page-11

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    WE should also expect LYC to have a hedging program in place to take advantage of any weakness in AUD against their sales currency. Would be interesting to know the % of costs that are AUD. Also possible that Japanese loans are in either USD or JPY. In both cases interest rates would be preferable to AUD, plus added benefit of a natural hedge, so effectively no currency risk. if in AUD would also need to be covered.
 
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