Feedback from OZL"Our cash is held mainly in US$ with some in...

Feedback from OZL

"Our cash is held mainly in US$ with some in A$. As at June 30 around $780million was in US$ and $35million was in A$. This is mainly because the proceeds of our recent asset sales have been in US$.

We are reviewing our mix of currencies going forward as part of the corporate strategy review and may adjust the current mix accordingly over time. Our preference is to take a conservative view and to hold cash where we are most likely to spend it - rather than on taking short-term positions on currency which is speculative, risky and not part of the base business."

I think 50 / 50 is the go at least. With soverign risk issues, surely a lot of OZL spending will be in OZ as well so we should have a good booty of AU$.

CHeers