If it is assumed that Aussie dollar will fall and USD will strengthen upon USA rate hike on Wednesday, you would have thought if FMG were going to pay down debt, they would have done it at the better exchange rate ?
I wonder at times why they stockpile such large amounts of cash in their bank account ? Surely it is better to pay $500 million dollar lots off debt regularly, rather than wait til they have a few billion in the bank and pay one lump sum.... at the very least they would be consistently reducing interest costs ? (I understand that they would be receiving interest on $ in bank, but it would be nothing close to what they are paying).
Iron ore price, page-29
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$21.71 |
Change
-0.190(0.87%) |
Mkt cap ! $66.84B | |||
| Open | High | Low | Value | Volume |
| $21.77 | $21.80 | $21.34 | $408.6M | 18.51M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 289875 | $21.68 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.72 | 95078 | 4 |
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| FMG (ASX) Chart |