finally some cracks in the rally, page-58

yep, without knowing what the base rates used were we can only guess.....

but based on the copper sensitivity, with copper being up 60c in the last 60 days:

and a 5c move being a $9m impact.....

we can expect about a $108m (60/5*9)improvement in profit based on copper price alone.


obviously gold price and AUS$ are the other main variables. with AUS$ moving against us, but we dont know what the base case assumption was in the forecast (it may have been 75c, so we may be still better off?)