Atlas derives its income in US and the loan is in US (probably RMB actually)... However their costs are in AUD so the rising AUD is bad... They are plenty profitable at these iron ore prices... So it's fine as long as the iron ore price holds... And if it doesn't the AUD will fall anyway. If the ore price rises we are quids in... And will do well if it holds steady.
Hukuna Matata ... The circle of life goes on and so does the steel economy...
AGO Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
