I hope that you are right HT. 'Cos, if OZ is still holding US$ that would be very dumb, and a bad reflection on new management. We are still quoting net foreign exchange losses of $A16 mill for PH. They tell you this is only a bookkeeping excersise - but if we leave our cash in US$ it will turn into a real loss over this year! Hopefully Virgil will get a favourable reply.M.