Ann: Quarterly Report for 3 months ending 30 Sept, page-15

re: Ann: Quarterly Report for 3 months ending...
Some simple calcs based on the post from horsetrader1
for $200 million for further work at PH.
Has to be in A$ for AU work...

$US rate 17/06 0.7960 10/06 0.9193
(source http://www.oanda.com/convert/fxhistory)

A$200M needed U$159 back in June
Now it needs U$184 today

That is a US$25M difference which is equivalent
to A$31 (June) to A$27 today.

As much as it disgusts me you have to pay execs extra to do their job perhaps we have to offer OZL execs and board members 10% of the currency rate savings and increased libor to do their job ?

Currently the potemtial losses on the cash exceeds a whole quarter of production profir, impressive.
Especially when you consider the rates have done what the market said they would.

Cheers