no I don't know they haven't really addressed the question, I emailed them and they quickly responded saying they couldn't initiate hedging until production had commenced
they said "The rise in the A$ should be largely offset by the iron ore price increase next April. (Our iron ore prices, like most small iron ore producers, are set in relation to the “published Hamersley Price” which is negotiated by BHPB, Rio and the Japanese steel producers each year. Industry predictions are that there will be an increase of over 10% from 1 April 2004.)"
all they have really indicated is that their previous profit estimates remain on track despite A$ rise because of various cost savings they have achieved plus iron ore price rises
no I don't know they haven't really addressed the question, I...
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