dogboy1.....the almost zero interest issue is the clincher for this mysterious issue...does not make commercial sense...thats the bottom line...
.....the worst fool of fools would not deposit funds in the US low interest environment just as they would stay away from Japan...SO that's where all the doubt on this issue originates from...
...to some it may seem a minor issue ...until one factors in currency exchange rates...
...if they were stupid enough to make a mistake like this then they will have to wait for the Aud to drop back ...as it historically does.....
...just a the decoupling theory of economies from the US whale was wrong ...so will be the stories of a forever strong AUD and a forever collapsing USD....
these stories serve currency traders well for a time till they see no more blue sky and then its FULL reverse and they do the same thing swapping sides...in the meantime everyone else gets dudded...
...too many inconsistancies for there not to be something afoot here...not just an omission of facts....
...the transaction was expressed in US denomination ...which is normal commercial practice...
...BUT this does not mean it was not concluded in a currency spread.....
..the chinese were just too quick to come to the party with all that extra cash to get it over the line...that was not pocket change....
..its my feeling that the spead was in currencies of the lenders to cover the debts..with a lot of the balance possibly in yuan...or AUD od a mix of both...
...its of special interest that the chinese since the deal have been arranging transaction in other currencies...in order to reduce exposure to the USD....
...this could be the start of a whole new global currency spread...a rebalancing....a reduction of risk....and a consequential encouragement to increasing the potential towards a more stable internation trading currency...which is what th Chinese and Russians have been proposing...
..maybe we just have to wait and see...or maybe an avalanch of emails to OZ asking all the right questions will get us the detailed answers we need to make INFORMED trading decisions.....
.on the issue of FIXED cu prices...I broght that up after reading in the paper an article on Aust miners to be most affected by a risig AUD and a rising commodities price....
..the AUD part was not a surprise...but when they said OZ minerals would cop a double whammy hit as its sales were at a fixed price....it stunned me....
...after all wasn't it the floating cu price that slammed dunked OZ during the height of the GFC....OZ had to repay truck loads of cash back as by the time the cu reached the buyer...the price had dropped....so this Journo of GREAT self importance...just got it wrong ...don't suppose ASIC will give him a rap over the knuckles for MISLEADING the market.....the article sure has played well for the buyers on the low end....VOLUMES are down...price is down...Cu is up...market is soft but overall stable...Aust economy the best in the world most stable....last Friday...the paper read.....Aussie stocks lifted the market.....BUT oZ bucked the trend.....it had a BIG drop....sure served some well....shake that tree...Before the upcoming announcement...
.....drilling is ongoing....and an extension of the present mines life expectancy is awaited by all....
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