OTCPK:MEAOD - Post by User
Post by
JRaffleson Sep 19, 2011 1:47pm
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Post# 19057937
FX kind to Metanor
FX kind to Metanor
If Metanor had received the USD6m from SSL a month earlier, than the 1 September due date, then it would have resulted in about CAN400,000 less received at the 1 August FX Rate.
Overall, it seems that the USD20m would have been drawn down at advantageous CAN dollar rates since the contract was exchanged in January 2011.
The high USD FX rates expected in a post credit contraction should also assist Metanor when production starts, in contrast to US miners.