Jimako, it looks like you weren't far wrong, it's at 0.83 right now and dropping.
With commodity prices dropping and with foreign money exiting the ASX at the moment (foreign investors being hit by the dropping Aus dollar AND the falling share prices at the same time, double whammy for them), we are looking at a detiorating situation.
The new tax is a large contributor to the exodus of money but I don't see another back-flip before the next election so the current decline will continue for some time yet. The absolute latest they can delay the election is April next year and I think they will be tempted to wait until early next year, they must have been surprised by the reaction to the new tax.
So Gold and EXT are going to benefit. The AUS$ Gold price is already hitting AUS$1,430 per ounce and fast approaching last year's high of circa Aus$1,500 or so.
EXT's value will be calculated and negotiated on a US$/lb basis plus all the additional considerations about the resource's strategic nature. The lower the Aus dollar the more Australian investors will get for their shares. Can you imagine a scenario where we are at US$0.75 ???
The cream on top would be if Uranium prices began to rise but I wouldn't be holding my breath for that one.
EXT Price at posting:
$7.00 Sentiment: Buy Disclosure: Held
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