Hi All
As we left the meeting yesterday, Cath and The Admiral were reiterating how the uncertainty about the Aussie dollar had a big bearing on the Board's decision to raise capital. I half-jokingly said: "Yes, in six months time you might look like geniuses."
Little did I realise they'd be geniuses in six hours (trading) time.
With oil and oilers now in free-fall, money in the bank - moreover in US dollars - is as good as, well, money in the bank.
All hail FAR's judgment call; it might just be the saving of us.
OOO
Ann: Results of General Meeting, page-60
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