sub two dollars tomorrow, page-58

Yes there is debt Tarekela, this operation isn't a sand pit in the desert, now lets talk about income, something that strangley enough gets missed, funny that! mid 2009 will tell the full story.

Fortescue, Newcrest May Gain on Dollar, JPMorgan Says (Update1)

By Jesse Riseborough

Oct. 8 (Bloomberg) -- Fortescue Metals Group Ltd., an Australian iron ore producer, and Newcrest Mining Ltd. may report higher profit as a slump in the nation's currency increases the value of repatriated earnings, JPMorgan Chase & Co. said.

Fortescue's fiscal 2009 earnings may rise 14 percent from JPMorgan's forecast to A$1.7 billion ($1.2 billion), based on yesterday's exchange rate, analysts led by Melbourne-based David George said in a report. Newcrest may earn 30 percent more than the bank's current forecast, George said.

``As most Australian mining companies sell their commodity production in U.S. dollars, and then convert the U.S. dollar cash revenue received to Australian dollars, a low exchange rate is a beneficial offset to softer U.S. dollar commodity prices,'' JP Morgan said.