Ann: Annual Report to shareholders, page-18

The next point I have is a question I have for others. The other items I raised don't concern me much. However, I get worried when I see silly little things and this next item potentially does concern me. That is, if I am correct on the facts of the next item and haven't missed something....

The 12 March 18 equity raising announcement (and further the 8 March announcement).... In here the announcement says (it is asterisked on page 10), US$ denominated loan notes equivalent to A$50m at the time of signing. I see in the financials no subsequent mention or booking of fx movements, currency risk or hedging or that this debt has somehow been converted to AUD. The exchange rate back in March was circa 77c and at end of dec 70.5c. If the loan note is US$ denominated then that would suggest an fx loss of around A$4.6m I can't see anywhere. Does anyone know any more...?

I can't see anything more on the warrants as well. Assume they have a strike that is A$. If these were on an underlying US$ strike that would make them a liability and there would be some mark to market on those. I expect that's less likely given the share price is obviously A$ but the devil's in the detail with these things.

Does anyone know for sure on the so called US$ debt whether it is in fact US$ denominated like stated in that Ann?

DYOR - opinions and observations.