"Costs in Africa will probably be pegged to the Euro outside of contracts that are denominated in USD so the EuroAUD exchange rate probably effects some of the local inputs."
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Why are the costs pegged to EURUSD? I forgot about the debt exposure in USD.
On the longer term AUDUSD is not going to recover anytime soon and the property market is weighing on it like an anchor with speculation RBA can only cut from hereon. However as long as there are no operational issues, I see XAUUSD not being sold off with the trade deal/Brexit hovering as potential Black Swan triggers if the expectations of the results are disappointing.
Now I am getting a clearer picture for the sell off for a fortnight and it is a good lesson for any miner to think about risk management constantly optimising revenues/costs ignoring betting on 1 mine!
Ann: Change in substantial holding, page-36
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