It has been mentioned earlier that contracts may have already been signed, and are awaiting meeting certain preconditions before being executed.
Even it that were not the case, I maintain it is not at all premature to ask at the AGM in which currency, is revenue from contracts are to be paid?
The US is going to hit the fiscal cliff early next year, and with the trillions of USD being issued under QEinfinity, the USD cannot hold against other currencies.
I know you are experienced with hedging etc, but a big fall in the USD is not out of the question and I don't think hedging will cut it. QEinfinity has emerged since we last discussed the subject.
I can't make it to the AGM, but I seriously would like to know what the policy on currency payments is: are we to be paid in USD or AUD, or EU or what? Failing hedging, will there be provision in the contract for the contract to be revoked if the currency swing is too wild?
You might think this is weird, but this is the only ADO related issue that keeps me awake. I have a large stake in ADO proportionately to the rest of my portfolio and nothing bothers me like this issue does. Everything else I am pretty ok with. If you cannot raise it I will speak with the company direct, but I am reluctant to call as I know they are very busy right now.
many thanks
DV
ADO Price at posting:
6.5¢ Sentiment: LT Buy Disclosure: Held
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