The tanking AUD adds significantly to debt and interest repayments.
The drop from 75 cents to 70 cents AUD/US has added AUD$26 million to the AUD denominated debt. If the AUD goes down to 65 cents that's another AUD$30 million.
And why's the AUD falling so far and so fast ? Because the global economy is up the creek, with lower demand for steel but higher supply of iron ore.
