afr article, page-5

You are right about the debt facility.

The prices you see quoted by Platts etc are US$ per tonne (generally about 62% Fe) - prices for iron ore have always been quoted in US$ most commodities are. GBG are paid that price in US$ (with variations for grade) as all IO companies are - at the moment approx US$135.00. That converts to approx Au$150.00 at present exchange rates.

I have no idea how the physical transfer happen - in US or Au but it does not matter the price is based on the US price so the lower the Au$ goes the better. And of course that goes against us as far as the debt facility.