The Australian dollar has dropped significantly in the last two weeks, now uncer 94c, how will that impact the cash flow, considering that the coal is paid in US dollars. PCI price is fairly steady, so overall this is a positive outcome, not reflected in the current share price. Me thinks (sorry about the pun - not) that this will be beneficial for COK. Disappointed though that they had to hand out 50 million options at cheap as chips prices to extend the loan facility, although I guess there is no interest payable so there needs to be some benefit in the extension, assume four months at 9% pa would equal approx. $2.25 million.
COK Price at posting:
3.3¢ Sentiment: None Disclosure: Held