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16/06/18
04:24
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Originally posted by defabs
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This was all prompted by the financial update on 17 May.
Just a reminder that the impairments may or may not occur but we would not find out until the annual report release post the scheme vote (at the time of 17 may, it looked very likely the vote would go ahead. Odds longer now)
The AUD is just above a 12 month low now at 0.746. There was no mention of the depreciation of the AUD in the financial update even though it is arguably after the iron ore price the most material variable with regards to profitability.
The March qtr averaged 0.79.
In April the avg rate was 0.768
The fin update revealed a loss of $2m for April from sales of 0.7mt. Fe price averaged US 65.75
May rate was 0.752 and Juneso far is 0.759 but will be lower given rate is now 0.746. About a 2-3% improvement since April.
Lump premiums have almost doubled in the last few months. Now at USD 0.235 dmtu. Could be conservatively an extra aud 5 for ago lumps.
Say around $3 increase when averaged with fines.
Also oil prices are 8% lower since the fin update.
The impairment talk is rubbish. Gina and Twiggy are very astute and know in themselves what the company's assets are worth. Announcements from the company aren't going to throw them off one bit.
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hi every one
i suggest everyone to watch the youtube video to leave fair comments so maybe these clowns can see because i do not think these guys knows what people are talking on this side ,