Whatever IRR's price is in pence, that number corresponds very closely to the number of A$millions of IRR owned by dgr. So right now it's ~38p and so dgr's share is worth A$38m. The ratio is just a happy coincidence, but makes it easy to track the value of dgr's IRR holding.
(62 pence to the A$, 62 million shares held...these 62's cancel out.)
IRR.L Ironridge up 40% year to date..., page-33
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